Akzo Nobel, the Dutch chemicals company, has improved its offer for British chemicals group, Imperial Chemical Industries (ICI) to more than $15.49 billion (£7.6bn) or 635 pence a share. Earlier, Akzo Nobel had approached British company with $15.28 billion (£7.5bn) or 600p a share offer, but ICI rejected it saying it was too low. After [...]
Boeing is spending additional hundred million dollars on research-and-development to ensure its 787 Dreamliner delivery on time. Earlier, the American plane maker has postponed its test flight to the end of September from August, which raised apprehensions about delivery delay for its most ambitious 787 Dreamliner. Boeing management has acknowledged the problem, but ensured delivery [...]
Hewlett-Packard’s third-quarter profit beats Wall Street’s estimates, as the technology bellwether continued to cash in on brisk sales of personal computers. HP’s net income for the third quarter was $1.78 billion or 66c per share, a 29% jump from the $1.38 billion in the year-ago period. Company’s revenues grew 16% to $25.4bn in the third [...]
Finally, ABN AMRO bows to RBS-led consortium’s competitive bid and decided against recommending RBS and Barclays to shareholders. Earlier, ABN Amro was formally backing Barclays’ €67.5 billion ($92.07bn) takeover bid, but RBS-led consortium outclassed it with €71 billion, ($96.84bn) offer and forced ABN to change its stance for the suitable seeker. ABN Amro’s spokesperson said: [...]
Internet entrepreneur Brad Greenspan claimed that he has gained the support of five investor groups to thwart Murdoch’s $5 billion buyout bid for Dow Jones. These five possible investors are Intel Corp’s, Intel Capital, Apex Partners, Jana Partners and Trafelet. As the five investors showed their interest to invest in Dow Jones, dissident members welcomed [...]
Dell’s second quarter profit jumped 46%, on stronger sales of enterprise products and services, improved average selling prices and favorable component costs. In the quarter, computer maker earned $733m, or 32 cents per share, compared to $502m, or 22 cents per share, a year ago. Sales rose 4% to $14.8bn. Quarterly report pushed dell’s share [...]
Sun Microsystems’s fourth quarter result surprised everyone as it earned $329 million, or 9 cents per share, after reducing workforce and slashing component prices. The company reported a net loss of $301 million a year earlier. In the quarter, Sun’s revenue increased 18 percent to $3.84 billion from $3.83 billion, as services revenue raised slightly, [...]
The profit of Toyota seems to have come down as employees with its U.S. plant seek unionization. Toyota is world’s leading carmaker, which recently grabbed world No. 1 cap from the Detroit-based GM, and is paying an average $47.60 per hour to its workers, whereas Detroit-based automakers viz. GM, Ford and Chrysler are paying $73.26, [...]
Yahoo can not sit silent when its rivals, Google and Microsoft are investing heavily in the online advertising business. The search giant has geared up for yet another acquisition barely a few months after its purchase of Right Media. This time, it is the behavioral ad firm, BlueLithium. The deal is fixed at around $300 [...]
After so many initial hiccups and kinks, finally, Rupert Murdoch achieved his decades-long dream of running the venerable Wall Street Journal, as Dow Jones accepted his $5 billion buyout bid. The board decided to accept the offer at a meeting late night, shortly after News Corp.’s board approved the deal. Murdoch spent the past three [...]
