Colgate-Palmolive Company on Wednesday announced the acquisition of Unilever’s Sanex personal care brand in Europe for €672 million (approximately $940 million) in cash. Colgate’s acquisition comes as part of its strategy to focus on its higher-margin oral care, personal care and pet nutrition businesses and is expected close in the second quarter of the year. [...]
Indonesia’s exports dropped 14 percent in the month of January, the country’s Central Statistics Agency (BPS) said Tuesday. BPS said Indonesia’s exports totaled $14.45 billion, compared to December’s $16.82 billion, but despite the 14.11 percent drop, the total also represents a 25 percent increase compared to January 2010. The country’s exports decrease was in large [...]
Dow Jones on Monday released its latest Economic Sentiment Indicator (ESI) report, showing it dropped from 46.9 in January to 46.5 in February, almost a half of a point, after two consecutive months of strong gains. As political unrest in the U.S. and abroad set back the economic recovery, the price of crude oil passed [...]
Pakistani President Asif Ali Zardari late Saturday night met with Saudi Second Deputy Prime Minister Prince Nayef bin Abdul Aziz Al-Saud in Kuwait to discuss regional issues, local media reported Sunday. Both officials attended Kuwait’s golden jubilee celebrations, marking the country’s 50th independence day, 20th liberation day and fifth anniversary of his accession. They later [...]
Borders Group Inc. on Wednesday announced that it has filed a petition for reorganization relief under Chapter 11 of the Bankruptcy Code. Borders Group President Mike Edwards confirmed the news, explaining that operating under Chapter 11, Borders would be receiving commitments for $505 million in Debtor-in-Possession (DIP) financing led by GE Capital, Restructuring Finance. In [...]
Nokia and Microsoft on Friday announced plans for a broad strategic partnership to combine both company’s strengths for building a new global mobile ecosystem. The partnership will result in significant benefits for consumers, developers, mobile operators and businesses around the world. It was announced by Nokia CEO Stephen Elop and his Microsoft counterpart Steve Ballmer. [...]
Soon the micro blogging website Twitter is likely to be owned by Search Engine Giant Google. According to the latest information provided in this regard is that the two companies are in talk with each other about this deal.This deal is in final stage to become a reality. In accordance with our sources Google will [...]
Citgroup, the international financial conglomerate, on Tuesday acquired EMI Group Ltd and reduced the music company’s debt by 65 percent. Citigroup acquired 100 percent of EMI’s share capital. Following the acquisition, the financial institution completed a successful recapitalization of the company to provide it with financial strength and flexibility. In addition, EMI’s debt was dramatically [...]
India’s Environment Ministry on Monday approved a $12 billion steel plant project from South Korea, the biggest foreign investment in Indian history, the Times of India newspaper reported. The project was approved after several setbacks from Environment Minister Jairam Ramesh. The plan was designed by the South Korea’s Pohang Steel Company (Posco). Ramesh also blocked [...]
Apple’s Chief Executive Officer, Steve Jobs latest medical leave has turned all the clients and customers quite sceptical about his depleting health. Steve’s latest medical leave has turned out to have quite an adverse on the sales reports of the company and has hit hard on the revenue as well. Investors are trying to get [...]
