Business

Prada Milano

Prada profits fall 21% because of a strong euro

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On Friday, Italian luxury fashion house Prada sPa reported a 21% fall in net profit to €244.8 million for the first half of 2014,...
Jack Ma Alibaba IPO

Alibaba IPO debut was a huge success

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China’s biggest e-commerce business Alibaba held its IPO in the NYSE on Friday. It was huge success. Early in the day stocks changed hands...
Dresser-Rand Group

Dresser-Rand attracts acquisition interest from GE and Siemens

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There are talks of a possible merger between Dresser-Rand Group and Swiss pump maker Sulzer. At the same time there are reports of GE...
tsx

TSX falls by more than 200 points

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Canada’s main stock index (TSX) went down to a 1.7 percent decline for the week. This is the biggest hit that Canada’s main stock...

Fitch says USA deserves to hold onto its “AAA” rating

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The U.S. has received its highest credit rating by Fitch. Fitch Ratings said that the country deserves to hold onto its “AAA” rating on...
lagos nigeria

Lagos receives an upgraded AA+ rating from Fitch

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Fitch Ratings has increased its Nigerian Lagos State’s National Long-term from AA(nga)’ to ‘AA+(nga)’. It also upgraded Lagos State’s Long-term foreign and local currency...

GSK fined for $490 million in China for bribing doctors

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GlaxoSmithKline is being fined for $490 million by a Chinese court for allegations of bribing hospitals and doctors. The record penalty reveals how GSK bribed...
pabst logo

Russian company Oasis Beverages acquiring Pabst Brewing Co.

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Pabst Brewing Co. will be acquired by the Russian company Oasis Beverages, in a deal estimated to be worth between $700 and $750 million. Pabst...
Alibaba logo

Alibaba Group on track to become largest IPO in history

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Alibaba Group Holding Ltd's (BABA.N) shares soared by 38 percent in its first day of trading as investors flock to buy a piece of...

Exxon an American sanctions casualty

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The world’s third largest company by revenue, Exxon, says it is complying with US sanctions against Russia and is winding down operations at its...