GlaxoSmithKline (GSK), the biggest pharmaceutical firm in Britain, launched a USD 50 million venture capital fund for bioelectronic medicines and technologies.
Europe
Joint venture Ford Sollers reduces production in Vsevolozhsk plant
Ford Sollers said it will be reducing production of compact cars made in its Vsevolozhsk plant. Ford Sollers announced that it is slated to reduce production in its Vsevolozhsk plant located near St.
Carlos Slim's America Movil offers EUR 7.2 billion or USD 9.6 billion for KPN's E-Plus
America Movil offered to buy KPN's E-Plus for EUR 7.2 billion or USD 9.6 billion, a move that rivaled Spain Telefonica's bid made last month.
Martin Blessing says he will stay with Commerzbank until reorganization is complete
Chief Executive Officer of Commerzbank Martin Blessing said he is staying at the helm until the bank is successfully reorganized.
Nokia accounts for 81% of all Windows Phone shipments
Nokia Corp accounted for 81% of all the Windows Phone shipments allowing Windows Phone to increase its market share to 3.7%.
Latest News
Russia-based telecommunications operator MegaFon announced that it would be acquiring Scartel, the only 4G provider in the country for USD 1.2 billion.
Russia's Vimpelcom hired Verizon Wireless'former finance chief to help it in reducing its US$23 billion debt.
The mobile market of Spain shrank in June which further reduced the chances of recovery for the country.
Vodafone would start providing a 4G mobile services for its customers in London this month. On August 29, Vodafone Group Plc plans to launch a faster fourth, generation wireless service in Great Britain.
Swisscom's profit plunged by 6.8% in the second quarter as it looks for new CEO of the company.
YoungAndMinted.com, the photo sharing website for people who have succeeded in business, announced that it has received funding from two unidentified investors.
Mobile photography startup Foap said it was able to secure USD 1.5 million in funds from Maxwell Ventures and Industrifonden, a venture capital firm in Sweden.
Budapest-based Organica water closed its Series B financing round successfully. Budapest-based Organica water closed its Series B financing round successfully.
Sources told Reuters that last-minute talks held by German real estate company IVG with creditors could make its debt restructuring deal a possibility.
