Citigroup Inc (NYSE:C) initiated second round of auction for its credit card business in Japan along with its retail unit. The bank has received joint offer from three companies with Shinsei Bank Ltd. (TYO:8303) as the primary investor in the business. The deal is likely to settle between $247.18 million to $411.90 million. The three…
Facebook Inc (FB) Assumes Stance to Beat Its Rivals at Advertising
During a recent interview, Facebook Inc (NASDAQ:FB)’s CEO Mark Zuckerberg defended his company’s advertising advantage in an outspoken comment which is as follows – “A frustration that I have is a lot of people increasingly seem to equate an advertising business model with somehow being out of alignment with your customers. I think it’s the…
Apple Inc (AAPL) Combats Antitrust Lawsuit with a Tough Stand
Apple Inc (NASDAQ:AAPL) has been engaged in an antitrust case since 2006 and during a hearing on Thursday, 4th December, 2014, the matter pertaining to its software update was subjected to scrutiny. Courtesy of the software update, music from other networks would be barred from playing on Apple’s devices, thus limiting the choices of users.…
Bank of America Corp (BAC)’s Waiver Appraised By SEC Member, Calls It “Breakthrough”
The regulatory waiver given to the largest bank of the U.S., Bank of America Corp (NYSE:BAC), has been praised by another Securities and Exchange Commission member who called it a “breakthrough” in commission’s methods to handle waivers. Earlier last month, SEC announced short-term regulatory waiver for the bank allowing it to sell shares in its…
The Blackstone Group L.P. (NYSE:BX) Ready To Trade IndCor Properties Raking $2 Billion In Profit
The Blackstone Group L.P. (NYSE:BX) is all set to make some profit with the sale of its U.S. industrial platform, IndCor Properties, for $8.1 billion. Singapore’s GIC Pte, Sovereign Wealth Fund, is going to buy the Chicago-based industrial warehouse company. Blackstone group has indulged in several property sales in the past 12 months and the…
General Motors Co (GM)’s Colorado Defeats Ford (F)’s F-150 to Bag Motor Trend’s Prized Trophy
Motor Trend’s declaration of results on 3rd December, 2014, in Detroit pertaining to the ‘Truck of the year’ category turned out to be quite unexpected with General Motors Co (NYSE:GM)’s Chevrolet Colorado being crowned as the winner amidst seven contestants. Vying for the top spot was Ford (F)’s F-150 and it was a strong contender given…
Exxon Mobil Corporation (XOM) Presents a Picture of Confidence
In the face of uncertainty over prices in the oil sector triggered by OPEC’s announcement of maintaining production targets, Exxon Mobil Corporation (NYSE:XOM) expressed confidence in being able to withstand the volatility even if prices plunged to as low as $40 per barrel. During his interview with CNBC, CEO of this oil-and-natural gas giant, Rex…
Auto Sales during the Upcoming Holiday Season
With an unprecedented increase in auto sales during November, experts are predicting that the month of December is likely to spell further good news for the vehicle industry. CNBC had on its panel Jessica Caldwell, a senior analyst with Edmunds.com and the model which she mentioned as particularly doing well is the Honda CRB. Some…
IBM Corp (IBM) – A Topic of Debate amongst Financial Experts
On the day when IBM Corp (NYSE:IBM) signed a $1.25 billion contract with WPP, a discussion was held on CNBC wherein the point of discussion pertained to the future of this prominent tech brand. Meant to last over seven years, the intention is to offer cloud services to its European users. What is even more…
RadioShack Corporation (RSH) Calls for Restructuring Amidst Breach Notice
RadioShack Corporation (NYSE:RSH) will continue its efforts towards restructuring and transforming its business, a company press release statement said. According to Joe Magnacca, Radioshack’s CEO, the company will keep its focus on operating its business and moving forward. RadioShack Corporation (NYSE:RSH) released the statements in reaction to a breach notice it received from Salus Capital…