McDonald's Corp's sales at established restaurants rose more than expected in November as a renewed emphasis on low-priced menu options, such as $1 Sausage McMuffins and coffee, helped the company bounce back from a rare decline in October, it said on Monday.
Industry
Best Buy Adding Vizio to Stable of TV Brands
Best Buy Co Inc has struck a deal to sell Vizio televisions, bringing one of the most popular and aggressively priced U.S. TV brands to the world's largest consumer electronics retailer's aisles later this month.
China Lets Foreign Sovereigns, Central Banks Exceed $1 Billion Investment Limit
China's foreign exchange regulator has removed the $1 billion limit for foreign sovereign wealth funds, central banks and monetary authorities buying Chinese assets through the Qualified Institutional Investor Programme (QFII).
MegaFon Picks Stake in Euroset for $1.07 Billion, Gains Joint Control with VimpelCom
MegaFon, Russia's second biggest mobile operator, has acted swiftly to pick a stake in cellphone retailer Euroset which operates 5,500 stores across the country and Belarus.
Blackstone to Buy Dutch Tax Consultancy Intertrust for $883 Million
Tax consultancy in The Netherlands is seemingly on the upswing in view of a greater number of corporates seeking to establish their European holding companies in the EU member country because of its many bilateral tax agreements with other nations to prevent double taxation. Against this backdrop, US private equity firm Blackstone Group LP has decided to buy Dutch tax consultancy Intertrust from Dutch private equity firm Waterland for a reported $883 million (675 million euros).
Latest News
A U.S. federal judge on Monday ordered Goldman Sachs Group Inc to take down statements from its website related to its representation of Dragon Systems in a 2000 sale that blew up when acquirer Lernout & Hauspie went bankrupt after accounting regularities emerged.
Goldman Sachs Group Inc was fined $1.5 million to settle charges it failed to supervise its traders and allowing one futures dealer to hide billions in dollars from sight and causing a $118 million loss.
Shares of Apple Inc tumbled nearly 4 percent on Wednesday, rounding off a bleak ten weeks for the most valuable U.S. company, with analysts citing factors such as increasing competition in the tablet market.
Even as Singapore Airlines reportedly holds talks with other airlines for a possible sell-out of its 49 percent stake in British carrier Virgin Atlantic, Delta Air Lines Inc, the second-largest U.S. airline by operating revenue, is said to be closing in on the stake.
Mobile telecoms equipment maker Nokia Siemens Networks (NSN) decided to hive off its optical fiber networks unit to private equity firm Marlin Equity Partners in a bid to focus solely on mobile broadband.
Swiss bank UBS AG is nearing a deal to settle claims some of its staff manipulated interest rates and could reach agreement with U.S. and British authorities by the end of the year, a person familiar with the matter said on Monday.
Auto sales in November were helped by a rebound from storm-ravaged October and the need to replace aging vehicles which put the industry on pace for a near five-year high and left executives optimistic about 2013.
Stocks fell on Monday, with the S&P 500 and Nasdaq erasing early gains as disappointing U.S. factory numbers curbed optimism spurred by positive data on China's economy.
Japanese conglomerates Mitsubishi Heavy Industries and Hitachi Ltd have decided to merge their thermal power businesses to take a vantage position in the domestic fossil-fuel power business.
