Monsanto share price rises as it announces 2,600 job cuts October 7, 2015 Shares in seed giant Monsanto rose today after it announced 2,600 job cuts and restructuring operations to cut costs amid a commodity price rout. The New York-listed group expects to make savings of $275 (£180m) to $300m by the end of fiscal year 2017, at a total cost of approximately $850 to $900m. Monsanto is also developing plans to reduce [...]
Renault might lose some of its stake in Nissan October 7, 2015 Renault could be about to lose some of its stake in Nissan, according to the Nikkei business daily. The French and Japanese car manufacturers have been joined in an alliance since 1999, under which Renault owns 43.4 per cent of Nissan and Nissan owns 15 per cent of Renault. Read more: Car manufacturer Renault [...]
Samsung’s share price leaps as it unveils profit boost October 7, 2015 Korean electronics giant and Apple arch-nemesis Samsung said today that it expects sales of 50-52 trillion won (£28.1bn-£29.2bn) in the third quarter of this year. Shareholders reacted with enthusiasm to the trading update, pushing the company's Korean-listed shares up 8.7 per cent. The company added that it expects operating profit for the quarter to be in the [...]
Standard Chartered plan for subsidiary bank in India October 6, 2015 Standard Chartered is set to become the first major foreign bank to set up a subsidiary in India. The London-based bank is the only one of India’s three big foreign lenders, which include HSBC and Citigroup, to agree to regulatory changes requesting foreign banks set up subsidiary companies, according to a report in the Financial [...]
Wall St dips on third-quarter earnings jitters – New York Report October 6, 2015 A five-day winning streak came to an end on Wall Street yesterday, as investors focused on upcoming quarterly reports that are expected to reflect a dip in corporate earnings. The Dow Jones industrial average edged up 0.08 per cent to end at 16,790.19 points. The S&P 500 lost 0.36 per cent to 1,979.92 and the [...]
Microsoft Surface Pro 4: Tech giant unveils new smartphones, tablets and fitness tracker October 6, 2015 Microsoft today unveiled a range of new products heralding what has been described by the company as its “next chapter”. This included a new line of Lumia smartphones, a new surface pro tablet as well as an updated version of its fitness tracker, Microsoft Band, which will run on its latest operating system Windows 10. [...]
Tesco share price closes up ahead of first half results on Wednesday October 6, 2015 Shares in troubled supermarket Tesco closed up three per cent to 192.10p per share this afternoon, ahead of its full-year results which are due out tomorrow morning. Tesco's shares inched up at the open, and added about one per cent over the course of the morning, and continued to make gains throughout the afternoon. Shares [...]
World’s most-used payment currencies: China’s renminbi knocks Japan’s yen off fourth place behind the US dollar, the euro and sterling October 6, 2015 China's renminbi became the fourth most-used world payment currency in August, overtaking Japan's yen, meaning it's behind only the US dollar, the euro and the sterling. "Important to note is the volatility in the Chinese market and the devaluations of the renminbi, which took place in August 2015. These facts likely played a significant role in its [...]
Facebook will beam free internet down from space next year October 6, 2015 In its mission to bring internet connectivity to all parts of the world, Facebook is sending a satellite into space next year. Facebook is currently building Amos-6 in partnership with French satellite company Eutelsat. Once it is complete it will be launched into geostationary orbit above Africa, at which point Facebook will work [...]
HSBC boss Stuart Gulliver wants bank to play major role in AB InBev’s planned takeover of SABMiller October 6, 2015 HSBC boss Stuart Gulliver is trying to persuade the lender to play a major role in financing a possible takeover of SABMiller by rival US-based brewing giant Anheuser-Busch InBev. Gulliver met executives from Budweiser maker AB InBev late last week to discuss a potential involvement for HSBC, according to a report on Sky News. [...]