Societe Generale said that it stood by all the rules of its operating nations. The bank confirmed that it no longer detained any establishments in the process in the Non-Cooperative Countries and Territories.
Industry
China’s Anbang Acquired Allianz’s South Korea Operations After Dropping Its Bid for Starwood Hotels
Anbang Insurance is acquiring Allianz’s operations in South Korea after dropping its offer to buy Starwood hotels. The deal is waiting for approval from South Korea’s financial regulator.
Free Access to Online and Mobile Edition of SCMP: Alibaba’s Signature Footstep of Acquisition
Alibaba Group has completed acquisition of South China Morning Post. To put a footstep with revealing the acquisition, readers have got free access to the once subscribed online newspaper. The move allows the 113-year-old newspaper to approach towards becoming a global leader in news arena.
Hennes & Mauritz Q1 profit declines hurt by strong dollar
Hennes & Mauritz's quarterly sales including VAT rose by 9% in domestic currencies. The company's quarterly profit declined 30% as dollar increased over local currencies.
Canadian Pension Fund to Acquire 40% Stake in Agriculture Unit of Glencore For $2.5 Billion
Glencore is possibly nearer to a deal with Canda’s largest pension fund to sell 40% stake in its agriculture business. CPPIB has agreed to pay $2.5 billion against a total valuation of $6 billion. However, there is no guarantee that the deal will surely take place.
Latest News
Lumber Liquidators won a civil case, which had alleged the company for violating a state law in California that urges companies to report warnings regarding the possible harmful substances in their products.
Wal-Mart pledged not to sell eggs from caged hens by the year 2015. It supports the advocacy of the well treatment of the fowls assuring it has enough food and space to roam around and free from mental distress that result in more egg production.
US oil prices gained 5.18 percent owing to an unexpected drop in domestic crude stockpiles. US crude stocks eased by 4.9 million barrels last week as imported declined.
Samsung is establishing itself as India’s number one smartphone manufacturer. The company credits strong sales for its new series of mid-tier products with new special features.
Nvidia has unveiled its first supercomputer, DGX-1, which uses both alternative intelligence and deep learning technology. The supercomputer, costing around $129,000, by no mean suggests that newer technologies will become cheaper. However, the new GPU has been welcomed by the researchers and potential users considering its widespread prospect.
United States Justice Department has prepared a lawsuit to block acquisition of Baker Hughes. Halliburton took over the company in November 2014.
Intel announced the acquisition of Italian semiconductor company on April 5. Yogitech will enhance Intel's Advanced Driver Assistance Systems (ADAS) technology.
The world’s first fully autonomous taxis might be hitting the streets of Singapore earlier than other cities. An MIT-supported startup is dedicated to develop a technology to achieve that, and is now seeking for approval for pilot program.
The Royal Bank of Canada has released an official statement, explaining that the bank is not guilty for any illegal activities including tax evasion in connection to shell company set up as mentioned in leaked papers from Panama’s Mossack Fonseca. The bank claimed to have high standards to ensure clients would not use its services to evade tax.
