Sportscar maker Porsche conceded a months-long power struggle to mass-market rival Volkswagen by axing its CEO and said it would raise at least 5 billion euros ($7.1 billion) in equity as the two prepared for a merger.
Porsche's board of directors in an all-night meeting endorsed talks to sell a stake to the Gulf state of Qatar and to boost its finances with a capital hike of at least 5 billion euros.
Swiss drugmaker Roche gave a bullish forecast for the next two years on the back of its $47 billion acquisition of Genentech and said it would expand capacity for H1N1 flu drug Tamiflu.
Toyota Motor Corp will start talks to pull out of a California-based joint venture with General Motors , a Toyota executive said on Thursday.
Roche , the maker of the Tamiflu flu drug, posted a 29 percent drop in first-half net profit and missed forecasts, hit by financing costs related to its $47 billion acquisition of Genentech.
Roche , the maker of the Tamiflu flu drug, missed forecasts with a 29 percent drop in first-half net profit, hit by costs related to its $47 billion acquisition of Genentech.
U.S. drugmaker Bristol-Myers Squibb Co on Wednesday said it will pay $2.4 billion to acquire Medarex Inc , a biotechnology company that has been helping it develop a promising treatment for melanoma since 2005.
Chrysler Group could again face the prospect of liquidation if legislation aimed at reversing its decision to terminate contracts with 789 dealers becomes law, a company executive said on Wednesday.
Three of the world's biggest drugmakers posted better-than-expected quarterly earnings on Wednesday and gave bullish forecasts for the rest of the year, demonstrating the industry's resilience in the weak economy.
Hisense Electric Co Ltd, one of China's leading electronics and household appliances producers, said on Tuesday its profit rose nearly 90% in the first half of 2009 due to booming flat-panel TV sales.
A Chinese firm has signed a $3.6 billion investment Promotion and Protection Agreement (IPPA) with Zambia in copper exploration and mining industry, a senior investment official said on Wednesday.
Delta Air Lines Inc , the world's biggest carrier, said on Wednesday it no longer expects to make money this year and Southwest Airlines Co's debt fell to near junk, while AirTran Holdings turned a profit and saw its shares jump 10 percent.
The twelve members of Porsche SE's supervisory board assembled on Wednesday, a day earlier than expected, to discuss the fate of the indebted sportscar maker.
Amazon.com said on Wednesday that it has reached a deal to buy online shoe and clothing retailer Zappos.com Inc for roughly $927.9 million, mostly in stock.
Israel's venture capital giant Pitango plans to team up with a Chinese partner to launch a $100-$200 million fund with investment focus on China's start-up companies, sources said on Wednesday.
The Beijing municipal government will fully support a bid by Beijing Automotive Industry Holding Corp (BAIC) for Ford Motor's Volvo car unit if the Chinese automaker fails in its current quest for General Motors' Opel, sources said on Wednesday.
A Chinese worker committed suicide in Shenzhen, South of China on July 16 on learning he was suspected of leaking company secrets. The incident sparked a web firestorm in China and has provoked criticism of Apple's intensely secretive culture.
Canada's Magna is still Germany's preferred bidder for carmaker Opel, a government spokesman said on Wednesday ahead of a meeting with General Motors representatives to discuss the takeover offers.
Delta Air Lines Inc , the world's biggest carrier, said on Wednesday it no longer expects to make money this year, while AirTran Holdings posted a higher-than-expected quarterly profit and saw its shares jump more than 16 percent.
Net Servicos de Comunicacao SA, Brazil's largest cable services provider, said on Wednesday profit more than quadrupled in the second quarter after pay television and broadband Internet subscriptions surged.
Japan's biggest mobile phone operator NTT DoCoMo Inc's group operating profit likely fell 16 percent to about 250 billion yen ($2.68 billion) in the April-June quarter as the year-earlier boost from reduced sales costs wore off, the Nikkei business daily said.
The ratings of embattled U.S. lender CIT Group will be downgraded to restricted default if it completes its offer to purchase its floating rate notes due in August, Fitch Ratings said on Wednesday.
The fate of billions of pounds of British commercial property is in the hands of a small group of secretive administrators, leaving investors in the dark about the future returns on their bonds.
Middle East analysts from London-based risk consultancy Exclusive Analysis answer emailed questions about Iran, Saudi Arabia and UAE.
Select seasonally adjusted historical data from Mortgage Bankers Association's (MBA) weekly mortgage application survey
The Watergate Hotel in the U.S. capital, part of a complex made famous by a political scandal which brought down former U.S. President Richard Nixon, has failed to attract bidders at auction.
U.S. mortgage applications rose despite a jump in borrowing costs last week, but still bounced around the year's lows with unemployment fears depressing demand.
The Beijing municipal government will fully support a bid by Beijing Automotive Industry Holding Corp (BAIC) for Ford Motor's (F.N) Volvo car unit if the Chinese automaker fails in its current quest for General Motors' Opel, sources said on Wednesday.
General Motors [GM.UL] on Wednesday posted a 22 percent global sales drop from a year earlier for the first six months of 2009 amid the economic slowdown and the automaker's slide into bankruptcy.
Carmakers can continue to set up networks of selective and exclusive dealerships for another three years in line with antitrust exemptions for the sector, European Union antitrust regulators said on Wednesday.
