Volkswagen will pay about $ 1 billion to settle consequences of Dieselgate in the United States. The latest agreement, which the Federal Court confirmed on December 20, obliges the automaker to pay this amount to additionally repair or purchase additional 83,000 cars with 3-liter diesel engines. In accordance with a settlement agreement, approved by the end of October, Volkswagen promised to pay...

On Tuesday, Lloyds Banking Group stated its intention to purchase UK credit business of Bank of America MBNA for 1.9 billion pounds ($ 2.35 billion). This is the first major acquisition of the British bank since its bailout during the global recession. Lloyds, which is still partly owned by the UK government, is trying to expand its credit cards business in order to diversify its core mortgage...

Frequent talks of possible IPOs are forcing technology startups Uber, Snap and Airbnb to turn their attention to potential investors. The companies are now trying to convince financiers in reliability of their long-term programs for development and investment. The startups are launching side projects and organize conferences to prove that their multi-billion dollar estimated value is not an empty...

BP PLC is investing nearly $ 1 billion in a massive gas field off the coast of northwestern Africa. This suggests that major oil and gas companies continue to look for opportunities to increase production against the background of recovery after serious collapse in the oil and gas market. Under the agreement with Kosmos Energy Ltd., which is engaged in exploration, in the coming years BP will...

Adobe Systems Inc. company, specializes in software development, reported a better-than-expected quarterly earnings thanks to increased demand for cloud service Creative Cloud, including Photoshop, Illustrator, and InDesign. Revenue of a unit, which develops Creative Cloud, rose by 33 percent to $ 886 million. Average regular income from sale of paid subscriptions amounted to $ 4.01 billion...

Verizon telecommunications company, intends to acquire operating business of Internet Corporation Yahoo, may lower the offer’s price, or even abandon the deal, Bloomberg reported citing a source familiar with the situation. According to the publication, the new doubts have been caused by information about hacking 1 billion Yahoo’s users accounts. As explained by the source, part of Verizon...

Transnational media holding, controlled by Murdoch family, offered £ 10.75 per Sky’s share to shareholders. Total price of the transaction may amount to £ 11.7 billion ($ 14.8 billion). Media holding Twenty-First Century Fox Inc. (21st Century Fox) announced an agreement with management of the British Sky television. Under the deal, 21st Century Fox, which already owns 39.1% stake in the Sky,...

General Electric (GE) company plans to gain $ 4 billion through sale of its two industrial units, and is going to achieve a cost reduction of $ 1 billion. The company is taking these steps within a programme of increasing profitability by reducing volume of activity. The two divisions, sale of which was announced during a presentation to financial analysts are Industrial Solutions, which provides...

US investment bank Goldman Sachs Group Inc, is expected to appoint David Solomon and Harvey Schwartz top aides to Chief Executive Lloyd Blankfein. According to The Wall Street Journal’s sources, names of Solomon and Schwartz, appointment of whom may be announce as early as Wednesday, emerged after US President-elect Donald Trump promised to invite President and Managing Director of Goldman Sachs...