Prada profits fall 21% because of a strong euro
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,...
Alibaba IPO debut was a huge success
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 attracts acquisition interest from GE and Siemens
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 falls by more than 200 points
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
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 receives an upgraded AA+ rating from Fitch
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
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...
Russian company Oasis Beverages acquiring Pabst Brewing Co.
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 Group on track to become largest IPO in history
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
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...