Alcatel-Lucent would push a cost cutting drive to save EUR1 billion by 2015 through cutting jobs by 1000, reported Les Echos and Le Figaro newpapers on their websites.
Sectors
Bloomberg: China Resoures looking to sell Hong Kong meat unit
China Resources, a state backed conglomerate, had been studying its options including a possible sale for its Hong Kong meat distribution unit, said a report from Bloomberg News.
Warrnambool agrees to Saputo takeover
Warrnambool Cheese and Butter Factory Company Holdings Ltd. had agreed on a takeover deal from Saputo Inc. to be paid in an all cash transaction, reported Reuters.
Icahn acquires stake in Talisman
The shares of Talisman Energy Inc had moved forward following the announcement of Carl Icahn's acquisition of around 61 million shares in the company, said a Reuters report.
Santander to acquire 51% of El Corte Ingles finance unit
On Monday, Spain’s Santander said that it had agreed to buy a 51% stake in the largest consumer finance business from El Corte Ingles.
Latest News
US stocks fell that marked an extended two weeks of losses following the partial shutdown of the US government over budget issues, said a Reuters report.
Twitter Inc got a "buy" rating from a brokerage company even before the social media platform went public, said a Reuters report.
Starbuck Corp Chief Executive Officer Howard Schultz had urged fellow business leaders to push US political leaders to end the US partial shutdown, said a Reuters report.
On Monday, World Bank’s Chief Financial Officer said that the bank had planned to cut USD400 million from its budget as a part of a sweeping reorganization.
Billionaire Mark Cuban said during a court trial last Monday that the stake he sold from an Internet search firm was long been planned.
Former World Bank President Robert Zoellick would rejoin investment bank Goldmans Sachs Group as chairman for its international advisory board, said a Reuters report.
Vitol SA obtains favorable LIbOR for its one year and three year credit lines. The world's largest independent oil trader, Vitol SA, would be raising USD7 billion worth of loans at the same rate pegged for its nearest competitor, Glencore Xstrata Plc.
Vodacom Group, MTN Group and Telkom would have their respective fortunes change because of the latest regulatory guidelines issued in South Africa.
Xylem appointed H Balasubramaniam as the company's managing director for its India operations. Xylem Inc was born as a spin off from ITT Corp. Xylem is a water technology company and it announced the appointment of General Electric executive H.
