A block buster and record making merger has been announced by two of the biggest drug companies of the United States. Drug maker Celgene would be taken over by Bristol-Myers Squibb in a cash and stock deal including debt and the value of the deal as announced is worth about between $74bn and $90bn. The…
According to documents filed at the Dutch chamber of commerce, an arrangement that allows Google to reduce its foreign tax liability was used by the US tech company to move €19.9bn ($22.7bn) to Bermuda in 2017 through a Dutch shell company. The documents, filed on 21 December, showed that the amount of money that was…
According to information available from US authorities, three former employees of Swiss investment bank Credit Suisse have been arrested over charges of their role in in a $2bn fraud scheme wihch was linked to companies in Mozambique. While the men were arrested and them released on bail in London, US authorities have sought extradition of…
According to the US Artherton Research, US electric automaker Tesla Inc has for the first time sold more vehicles than BMW and Lexus in a quarter. Tesla has been able to end the year well despite legal and financial struggles and was well ahead of its rivals in the U.S. premium automotive market including names…
According to a spokesman from the People’s Bank of China, after the drop in China’s stock market the financial markets in China are safer. The Shanghai composite ended the year on Friday 25 per cent lower for the entire 2018 at 2,493.9 which marks that worst year for the index since 2008. After the index…
Britain’s trade minister Liam Fox has said that if the UK government rejects the European Union withdrawal deal next month, there is a 50-50 chance that Brexit may be stopped. “If we were not to vote for that, I’m not sure I would give it (Brexit) much more than 50-50,” Fox told the Sunday Times…
According to multiple reports, liquidating was narrowly avoided by Sears Holdings (SHLDQ) after to buy and save the company was made by Eddie Lampert, company chair, with a last-minute $4.4 billion. SHLDQ was once known for the iconic catalog and department stores that it owned. According to a report by CNBC, based on sources familiar…
Music company HMV was sent into administration for the second time in within six years which has put at risk about 2200 jobs. At high court hearing late on Friday evening, insolvency experts from the accountancy firm KPMG as joint administrators were appointed by the company that is a music and film retailer and one…
The Chinese bike-sharing firm Ofo is now having a tough time just to afloat even though not so long ago it was flush with cash and was being termed to be a game-changing tech startup. The dockless bike-sharing concept which had gained tremendous popularity in recent years in China was created by Ofo with the…
Scientists are getting great insights into the forces which help in the development of and the evolution of new species through a research which involved the interbreeding between two species of howler monkeys which was conducted by scientists from University of Michigan (UM) in Mexico. The elements of the study included the scientists making use…
