Lotus Cars announcing up to 325 job losses
This week, British manufacturer of sports and racing cars Lotus Cars has announced up to 325 job losses, representing about one quarter of its...
London shares rose on Scottish vote, pound lost early gains
When it became clear on Friday that Scotland had voted to reject independence, shares on the London Stock Exchange rose 18 points (0.27%) to...
US appeals court declines to rule on Citigroup and Argentina appeal
A Citigroup Inc. and Argentinian appeal resulted in a “no verdict” by the 2nd U.S. Circuit Court of Appeals in New York on Friday,...
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...