Industry
Crédit Agricole Proposes Dividend of €0.60 per share, Announces Simplification of Capital Structure
Crédit Agricole SA has been widely criticized for its complex cross-shareholding between listed entity and cooperative parent banks. Finally it has announced plans for simplification of its capital structure. The French Green bank has also announced dividend of €0.60 per share while recording €882 million in net profit.
Fairchild rejects takeover offer from Chinese enterprises
Fairchild board rejected acquisition proposal from Chinese firms over fears of US regulatory approval. After a thorough review process and consultation with its financial and legal guides, the board of Fairchild decided to forbid the takeover offer.
Devon Energy Cuts 1,000 Jobs, Company May Cut 600 More to Reduce Expenses
Oil and gas prices have continued to slashing down in 2016. Due to lower commodity prices, Oil and gas companies are adopting cost reductive measures including job cuts. After job cut spree in Sandridge Energy, Devon Energy has announced 1,000 job cuts on Tuesday. The company has forecast for another 600 job cuts ahead.
Yello Mobile Receives Investment For $30 Million From SBI Holdings, Expects For Further Receipt
Yello Mobile, South Korean fastest growing mobile app company has received $30 million more fund from SBI Holdings Inc. With the recent investment, the fund grows to $73 million in total. However, the $4 billion enterprise expects further investments before closing the financial round in the coming months.