Siemens is getting rid of all shares of high-tech German lighting manufacturer Osram. The remaining stake of 17.5% (18 million shares) will be sold to investors for 1.2 billion euros, Der Spiegel reports. "We chose the right date to sell the rest of the company's shares, and now Osram is on its own," said a representative of Siemens. High-tech German lighting company Osram was a subsidiary of...

The committees of the US Congress on Defense approved allocation of more than $ 400 million to strengthen the country's anti-missile defense in connection with the increased threat from North Korea. Among the companies that will receive part of these funds are Boeing, Raytheon, Orbital ATK. Speaking in the Senate yesterday at a hearing on Afghanistan, US Defense Secretary Jim Mattis said that...

It is expected that the advertising revenue of Snap in the US in 2017 will decrease by $ 127.5 million compared with earlier forecasts. This is reported by eMarketer. Analysts lowered this forecast from 770 million dollars to 642.5 million, noting that many marketers still consider Snapchat to be an "experimental channel" for advertising. The forecast has been falling for the second time: it...

Automotive concern Ford Motor Co plans to cut spending by $ 14 billion in the next five years, said company CEO Jim Hackett. According to Hackett, the automaker will switch the focus of capital investments from sedans and internal combustion engines to the development of trucks, electric cars and hybrid cars. As part of the cost reduction, the company intends to save $ 10 billion on material...

Yesterday, British travel company Monarch Airlines announced its bankruptcy, which has become the biggest crash among British airlines in recent years. The company’s problems can affect the 110 thousand British tourists who are now at various resorts. The government is already taking measures to return people. The bankruptcy of Monarch Airlines has already become the third bankruptcy of the...

The profit of the top ten US banks increased by 19 percent in the first half of 2017. The same figure for the banks of the EU climbed up just by 5 percent, Ernst & Young reported. According to British consulting company Ernst & Young (EY), large US banks increase the gap from European competitors in terms of profit. According to the results of the first half of 2017, the 10 largest...

BlackBerry’s quarterly results exceeded the forecasted figures. In addition, the company improved its annual revenue forecast against the background of record sales of the software division, writes Reuters. Canadian company BlackBerry, which last year stopped selling its own smartphones, focusing on the sale of software, reported a quarterly profit of $ 0.05 per share compared to breakeven a year...

The strategy "Move fast and break the order of things" seems to be failing. This is an unofficial motto of successful technological start-ups and status quo infringers such as Uber Technologies Inc., which are rapidly moving forward to occupy market share, win customers and drive potential competitors away. Uber and other companies have shown that sometimes the existing rules, perhaps the laws,...

Toshiba Corporation officially announced conclusion of a deal to sell its semiconductor business to a consortium of companies led by investment fund Bain Capital, Yonhap agency reports. The deal value amounts to about 2 trillion yen (about $ 18 billion). In the spring of this year, Toshiba’s shareholders voted to allocate a division for the production of NAND memory chips to an independent...