If you are heading for Greece for sightseeing, be sure to have extra cash ready. That's because the cash-strapped country is raising prices of tickets to tourist spots as early as April.
Tags: Europe
Japanese auto majors may post encouraging quarterly results
The second quarter for Japanese automobile majors is expected to be positive as the sales surged in the US market. Toyota Motor Corp, Nissan Motor Co and Honda Motor Co. registered a rise in sales volume in the North American market during July to September. Investors are closely monitoring the forecasts about vehicle sales to ascertain the possible outcome from the third quarter results. The US and China markets account for one-third of global sales for the top three Japanese automobile companies. The rise in US sales and weaker Yen may add to profits for the Japanese automobile majors during the quarter.
Volkswagen says sorry in Japan auto show
Volkswagen AG, Europe's largest automaker, is maintaining an investment plan to build a new seven-seater sports utility vehicle. It is starting next year at its only manufacturing plant in Tennessee, although beset by issues of cost cuts in the wake of the company's diesel-emission manipulation scandal.
Starbucks introduces Frappula, the new Halloween-inspired Frappucino
Starbucks, the most popular coffee brand in the world, has a special treat for both Halloween lovers and coffee enthusiasts as they announced plans on releasing a new vampire-inspired beverage, the Frappula.
Huawei overtakes Xiaomi as China's biggest smartphone maker
Huawei Technologies Co. dislodges Xiaomi Corp. from its position as the biggest smartphone maker in China. The company sold 27.4 million devices in the quarter ended September 30, according to reports citing data from research firms. That's up 81% from the previous year.
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In an extraordinary meeting held in October 18, Deutsche Bank's supervisory board supplied a reorganization of leadership and structure. Deutsche Bank announced it is restructuring its organization and executive committees.
Nestlé's sales from Asia, Oceania and Africa (AOA) region went down 3% and the company whose brands range from Nescafe and KitKat to Perrier has less sales growth forecast for 2015 to around 4.5%. This is way back below its broader objective of 5 to 6% growth in the succeeding years.
A negotiation between the U.S. company and Italian businessman Antonio Percassi to bringing Starbucks to Italy is already in process. The agreement is set to be finalized this coming Christmas according to the newspaper Corriere della Serra.
ProSiebenSat.1, a Munich-based German broadcaster, has acquired Swedish online travel agency Etraveli Holding AB for Euro235million ($267mn) from private equity (PE) firm Segulah IV LP. The acquisition deal for ProSiebenSat.1 is its biggest investment in the global e-Commerce. The German broadcaster will expand its digital operations globally following the acquisition. ProSiebenSat.1 is planning to expand beyond TV business.
Brazil is to detach its internet connection with U.S., Telebras CEO Jorge Bittar said. A submarine cable with over 30 tbps will be installed from Lisbon to Fortaleza. This would boost Internet speed with Europe in 2017.
The Swiss bank Credit Suisse Group AG will have to shell out $80 million in fines and disgorgement to the US regulators in an alternative trading-related settlement case. Credit Suisse didn't reveal its operations in dark pool private share trading exchange to the clients.
Vista Equity Partner is nearing to close a deal to buy a Texas-based company, Solera Holdings for $55.85 per share in cash. The total valuation of the deal including Solera's net debt is said to be worth $6.5 billion. The purchase price represents a 13 percent premium to the company's stock value.
The output for German industry soared for the month of July at its quickest rates so far this year, shown by the data from the Economy Ministry on Monday. This means that Europes's biggest economy was powered even at the beginning of Q3 according to Reuters.
Milk is overflowing in Europe for a lot of reasons, chief of these is that Russia has stopped the importation of milk while Chinese demand has lessened. There is so much splashing around the European Union that makes milk always less expensive than bottled water. In U.K., a liter of bottled water costs $1.50 while a liter of milk costs only $1. The same is almost true in France. In German supermarkets like Aldi and Lidl, a liter of milk costs only about 55¢ while a liter of bottled water costs around 72¢.
