Companies & CEOs
Deutsche Post buys UK Mail for $ 315.5 million - 09/28/2016
Deutsche Post DHL Group reached agreement on acquisition of UK Mail Group for 242.7 million pounds ($ 315.5 million) to strengthen its position in the UK market, says the German company. Under the deal, shareholders will receive 440 pence in cash for each share of UK Mail. Deutsche Post, Europe's largest postal company, said that the proposal provides for a premium of about 43% to price of UK...
Disney and Microsoft are eyeing Twitter - 09/27/2016
A list of applicants to purchase microblogging service Twitter now includes Microsoft and The Walt Disney Company. Disney’s financial consultants are currently assessing value of Twitter to determine size of the transaction amount, according to The Wall Street Journal, citing sources close to the negotiations. The companies gave no official comments. Bloomberg reported with reference to an...
Marriott and Starwood created the world's largest hotel chain - 09/23/2016
International hotel chain Marriott International Inc. completed acquisition of Starwood Hotels & Resorts Worldwide Inc. The deal resulted in creation of the largest hotel operator in the world. The company will manage more than 5.7 thousand hotels with 1.1 million rooms in more than 110 countries under 30 brands. The merger increased number of Marriott hotels in Asia, the Middle East and...
Maersk to split off transport unit - 09/22/2016
Danish conglomerate A.P. Moller-Maersk Group said that it is going to divide the business into two separate divisions: transport and energy. The conglomerate explained this decision by crisis in the sphere of cargo transportation and low oil prices. Maersk Line, the largest division of the company and the world's largest operator of container terminals in terms of power, will lead a new transport...
Chinese bank finished IPO of the year - 09/21/2016
Today, Postal Savings Bank of China (PSBC) raised about $ 7.4 billion during its IPO. Trading with PSBC shares should start on the Hong Kong Stock Exchange on 28 September. Initially, the bank planned to raise up to $ 8.1 billion, but investors considered the price too high. Nevertheless, this is the largest IPO in the world over the past two years. Postal Savings Bank of China Ltd. (PSBC), sixth...
Apple patented a paper bag - 09/20/2016
Apple has filed patents not only on various high-tech devices and software. Now, the company’s portfolio includes a patent on an ordinary paper bag with flexible handles, reports The Verge. Some might suggest that, perhaps, the bag is crammed with electronics, sensors, GPS, Bluetooth, a processor and software that transmits information on an iPhone paired with the bag. However, it’s not like...
EC suspected Luxembourg of illegally providing tax incentives to French Engie - 09/19/2016
The European Commission (EC) announced start of proceedings on a taxation scheme accorded to French power and gas group GDF Suez (now called Engie) in Luxembourg. "The Commission has a reason to believe that some of decision of Luxembourg’s tax authorities, contrary to the EU rules of the state support, could give GDF Suez an unfair advantage over other companies" - said the European Commission...
Samsung sold shares in four companies - 09/19/2016
Technology giant Samsung announced sale of shares of four companies, including ASML Holding NV and Seagate Technology Plc. Thus, the company in order to release funds for additional investments in its core business. Samsung stated that it sold about half of its shares of ASML, and the whole package of Seagate shares, that is, 4.2%. The company was also sold 0.7 percent stake in Sharp Corp and...
US authorities to impose a record fine on Deutsche Bank - 09/16/2016
US Justice Department demanded that Deutsche Bank pays $ 14 billion for its participation in the mortgage crisis of 2008. This amount may be the largest fine imposed by the American authorities to a foreign bank. US officials sent to the Germany's largest bank Deutsche Bank requirement to pay $ 14 billion for compensation for losses incurred as a result of the mortgage crisis of 2008. Press...
Unilever is planning to buy Jessica Alba's company - 09/16/2016
Unilever is in talks about purchase of a manufacturer of environmentally friendly cleaning products. The parties are discussing a sum of more than $ 1 billion, which is significantly less than last valuation of the company. Unilever, owns Dove and Domestos, is in talks to acquire Honest Co., founded by actress Jessica Alba. The company produces eco-friendly diapers and hygiene products, writes...
