Nestle 1Q Profit Climbed 6 %
Nestle SA said its first quarter sales rose 6 percent to 25.7 billion Swiss francs or $25 billion as the company rose prices of its products.
Air France-KLM Drops Bid for Nearly Bankrupt Alitalia
Air France-KLM, the largest airline in the world by sales, dropped its 138 million euro ($220 million) bid for Italy's flagship carrier Alitalia on Monday, following failed talks with union leaders and uncertainty about the Italian government's position regarding the sale.
SSE buys 21% stake in Logan Energy Ltd
Scottish and Southern Energy Plc (SSE) announced on Monday that it had bought a 21 per cent stake in Logan Energy Limited at a cost of £375,000 plus goodwill brought to the new business.
M&S initiate joint venture to India
Marks and Spencer Group Plc (M&S) has said it will be entering into a joint venture with Reliance Retail, with the aim of establishing M&S as a major retail brand in India.
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Bank of England Unveils Bank Debt Swap, Abbey Acts
The Bank of England announced an unprecedented $100 billion ( £50 billion) plan to allow banks to swap mortgage-backed securities for British Treasury bills in a bid to bail out Britain's ailing banking system.
Satyam's Q4 net profit up 18.6 percent, below market forecast
India's fourth largest IT services provider Satyam Computer Services on Monday reported a 18.6 percent surge in net profit for the quarter ended March 31, 2008, but failed to beat market forecast.
National City Raising $7 Billion After Housing Losses
National City Corp. said it will raise $7 billion in capital on Monday, following the lead of other major lenders, after reporting a first quarter miss due primarily to provisions for future losses in the falling housing market.
Gannett Falls 9 Pct in Q1 on Ad Slump
Gannett Co Inc., the largest U.S. newspaper publisher said Monday that its quarterly profit fell 9 percent on weaker advertising sales.
Bank of America Profit Falls 77 Pct
Bank of America Corp., the second largest U.S. bank, reported a steep 77 percent drop in profits on Monday, missing Wall Street expectations and sending shares plummeting.
Ford Fiesta Unveiled in China
Ford Motor Co. unveiled the new Ford Fiesta at the Auto China 2008 event at the New China International Exhibition Centre in Beijing on Saturday.As part of its plan to roll out models globally in a...
Blackstone to Defend Against Alliance Data's $170 Mln Suit
Blackstone Group LP replied on Saturday to a lawsuit filed against the firm by Alliance Data Systems Corp. for $170 million saying it will defend itself vigorously and does not intent to settle.The...
Northwest-Delta Deal Breakup Fee is $165 Mln; CEO Gets Retention Package
Northwest Airlines Corp. and Delta Airlines Inc., already in an agreement to merger since Monday, would need to pay the other $165 million to stop the process under certain conditions, according to a...
RBS May Raise Up to 10 Billion Pounds in Capital: Report
Royal Bank of Scotland Group Plc, the second largest U.K. lender, may sell up to up to 10 billion pounds ($20 Billion) of stock to current shareholders to rebuild its capital reserves, the Financial ...
IHG to set up more than 200 hotels in China before 2010
InterContinental Hotels Group(IHG) plans to set up more than 200 hotels in China by 2010, as Chinese people become more richer said Peter Gowers, CEO of IHG's Asia Pacific region.The group w...
GFI Group Faces Desertions, Shares Fall
GFI group Inc. said on Friday that the now-former head of the firm's North American Product brokerage resigned and the company acknowledges more desertions are pending GFI said.GFI believes t...
S&P to Lower Harley-Davidson Rating
Standard & Poor's stated on Friday that it could lower its ratings on Harley-Davidson Inc. due to a weak motorcycle market outlook in the United States.S&P has an A corporate credit r...
Sonic Names New President, COO
Sonic Corp., the nation's largest chain of drive-in restaurants, named a new president and chief operating officer which will allow its CEO to focus on system expansion and brand development str...
Tyson Closing 3rd Plant This Year
Tyson Foods Inc. announced late Friday it will shut down its meat processing plant in York, Neb. as part of its plan to merge some of its ready-made foods business.The closure of the facility will ...
Tyson to Cut 110 Jobs at Nebraska Plant
Tyson Foods Inc., the world's largest meat processor, said it will shut down a plant in York, Nebraska, eliminating 110 jobs as part of an ongoing effort to improve production efficiency, the co...
Citigroup Takes $5.1 Billion Loss, Cuts 9,000 Jobs
Citigroup Inc, the largest U.S. bank by assets, announced a $5.1 billion first quarter loss along with more than $12 billion in writedowns linked the struggling mortgage and credit markets.We'...
DirecTV Wins Patent Case with Finisar, Saves more than $117.3 million
DirecTV Group Inc. won a trial following a $78.9 million patent verdict in favor of Finisar Corp. over the information transmission technology.The U.S. Court of Appeals for the Federal Circuit said...
EA Extends Deadline for Take-Two Bid, $2 Billion Deal
Electronic Arts Inc. extended its tender offer for Take-Two Interactive Software Inc. to May 16 and also reduced the price for each share.The offer that EA made was supposed to expire Friday midnig...
Former Fannie Mae Executives Face $24.7 Mln Settlement
Former Fannie Mae CEO and two other former executives will pay $31 million under a settlement announced Friday to resolve claims they manipulated earnings to boost their own bonuses.Franklin Raines...
Manpower Shifts to Cross Border Recruitment, Shares Rally
Shares of Manpower Inc., the global employment services company, soared Friday after the company reported that its first-quarter profit increased 27 percent, citing growth in the firm's overseas...
UK Coal profits jump 292%
UK Coal has reported an increase in pre-tax profit of 292 per cent to £69.0 million, for the full year 2007. The company's earnings per share also rose 412 per cent to 59.9 per cent.UK C...
Punch says no to M&B
Punch Taverns has said that it had ended talks with fellow pub owner Mitchells and Butlers (M&B) on the grounds that any deal would not be in the best interests of the shareholders.M&B beca...
Honeywell Shares leap, 1Q Profit Climbs 22%
Shares of Honeywell International Inc. jumped 5.96 percent to $60.82 on Friday's afternoon trading in the New York Mercantile Exchange as the company reported its 2008 First quarter net income c...
AT&T Cuts 4,650 Jobs in Efficiency Move
AT&T Inc, the largest U.S. telecommunications provider, said it would cut about 1.5 percent, or about 4,650 of its workforce incurring a pre-tax charge of $378 million.The company says it is th...
Caterpillar Results Send Stock Up 8 Pct
Caterpillar Inc., the world's largest maker of bulldozers, said first-quarter profit rose 13 percent, beating estimates and citied stronger sales in Asia and in North America. Shares jumped as m...
Citi Stock Jumps as Results Beat Worst Expectations
Citigroup Inc, the biggest U.S. bank by assets, avoided more severe expectations for losses on Thursday after reporting a $5.1 billion loss in its first quarter, sparking a relived rally among invest...
Prudential sales up 13% on strong Asian performance
Prudential Plc said on Thursday that its total sales went up 13 per cent in the first three months of 2008, compared with the same period last year. The insurers' total sales reached £729 ...
P&G Falls 2.5 Pct on Downgrade Citing Industry Slowdown
Procter & Gamble Co. shares fell more than 2.5 percent on Thursday after Deutsche Bank Securities slashed its rating on the stock on slowing sales of beauty products.P&G fell $1.71, or 2.47...
Some foreign banks allowed to issue China UnionPay cards
According to the Dow Jones news agency, China UnionPay Co. president Rod Xu said on Thursday that some foreign banks have been granted the right to issue UnionPay cards in China.Xu did not tell whi...
China vehicle exports expected to exceed 1 million in 2008
Chinese vehicle exports maintained a growth rate of 88 percent, making annual projected exports more than 1 million this year, according to Zhang Ji, a director of the electrical and mechanical divis...
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