Apparel retailer Esprit Holdings attributed the loss in 2012 to a sluggish European market and increased competition from
other brand names such as Zara and Hennes & Mauritz.
Sectors
Saudi Aramco-Total joint venture to offer first fuel- sources
Sources told Bloomberg that the joint venture firm of Saudi Aramco and Total, Satorp, would be putting its first fuel up for sale this month.
Barclays reveals it will spend GBP 1.4 billion in consumer bank overhaul
Barclays said would spend GBP 1.4 billion to revamp its consumer banking unit. London-based Barclays Plc said it would be spending an estimated GBP 1. 4 billion or USD 2.
Continental AG nearing partnership with IBM for driverless car systems development
Driverless vehicles as well as the data transfer between cars are on top of the agenda for the partnership between Continental AG and IBM.
SZITIC to do IPO by year's end
SZITIC Commercial Property Ltd had prepared plans to undertake an IPO in the Hong Kong bourse worth around USD1 billion.
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The Philippines' Department of Finance announced that it had begun to accept development proposals under the Philippines-Italy Debt for Development Swap Program.
Rafael Correa, President of Ecuador, would be relying on USD18 billion worth of oil resources inside the Yasuni National Park to save the country from going bankrupt.
The Malaysian state run oil firm informed the Venezuelan government of its withdrawal from the Carabobo-1 oil project.
Sources who disclosed to Reuters that Umpqua Holdings Corp. (UMPQ) was in advanced stages of closing an acquisition of Sterling Financial Corp for USD1.8 billion.
The government of Japan announced that by next month, it would begin to thresh out the details of a joint procurement plan for the purchase of liquefied natural gas.
The increased value of jewelry maker Pandora this year gave investors something to smile about. Pandora showed investors that they had something to smile about in 2013.
The National Pension Service of South Korea increased its stake in six local companies as the government lengthened disclosure times for share purchases over 10%.
The projected savings for the merger of Glencore and Xstrata was at UDD500 million but nearly a year later, the savings is worth four times that projected amount.
In an email provided to news agency Bloomberg News, Alibaba Group Holding Ltd founder Jack Ma insisted that the partnership system was meant to provide value to company's shareholders, employees and customers.
