In twin moves, Swatch was able to identify the cause of its sales declines and increase the demand for its components by cutting back on deliveries.
Deals
JPMorgan and FHFA forge settlement agreement
JPMorgan to pay FHFA USD5.1 billion as settlement for loans and mortgage backed securities issues. A settlement agreement was finalized between JPMorgan Chase & Co and the Federal Housing Finance Agency on claims over defective home loans and mortgage backed securities.
McKesson obtains bridge loan
The approval for a bridge loan was given to McKesson to facilitate its acquisition of Celesio AG. The largest pharmaceutical distributor in the United States, McKesson Corp, had recently obtained a USD5.
Flint Mobile closes Series B round with USD6 million in capital pledges
The amount of USD6 million was raised by Flint Mobile from its capital investors. The market leader in easy swipe free payments and mobile business integration, Flint Mobile, announced the receipt of USD6 million worth of new capital funds during the Street Fight Summit in New York.
Telefonica SA and PPF Group NV nearing deal for Czech Republic's telephone firm
Anonymous sources revealed the near completion status of the deal between Telefonica SA and PPF Group NV for the largest phone company in the Czech Republic.
Latest News
A USD2 billion loan was paid off in full by state owned IPIC from RHB Capital. The International Petroleum Investment Co,. the Abu Dhabi tate owned fund, had paid in full a USD2 billion loan its unit had taken out last 2011.
Kampac International Chairman Charles Ampofo lauded the Philippines' economic growth. It was recently reported that a Dubai based oil firm is negotiating a deal to develop a USD5 billion Energy City project located in the Philippines.
Despite the recent quarterly loss report from Jet Airways, Etihad is still awaiting the completion of the deal.
Independent grocers and convenience store operators see a mega-merger as big industry threat. Independent grocers in Canada feared they would go out of business with the upcoming merger of Loblaw Cos Ltd and Shoppers Drug Mart Corp.
Bunge Ltd CEO is seeking to sell off its 'crown jewels' as depressed prices and operating losses have made the business unprofitable.
In an unprecendented move, China's Sinopec is selling off shale gas acreages in Canada. An executive for the SInopec Group is seeking to sell half of its holdings in the two biggest shale gas acreages in Canada.
The bid made by LinnCo for Berry Petroleum is but one of the transactions that the US SEC is reviewing.
Like a death in the family, union members of PSA Peugeot Citroen factory located in Aulnay, France mourn the closure of the 40 year old plan.
Atlantic Grid had moved to connecting power for delivery to New Jersey state. The company that had plans to build an undersea power transmission line backed by Google, Atlantic Grid Development LLC, has refocused its efforts in moving electrical power across New Jersey instead of its original plan of interconnecting offshore wind farms.
