Suitors seeking to buy the troubled air bag maker Takata Corp. are reported to have offered $1 billion to $2 billion. Each of the five suitors seeking to buy the company have reportedly made the offers, a person with knowledge of the matter was quoted in the media as saying. The person, who asked not…
U.S. IT giant IBM said on Wednesday that with 15 percent of top global banks intending to roll out full-scale, commercial blockchain products in 2017, the recent trend in the banking technology segment is that banks and other financial institutions are fast adopting blockchain technology at “dramatically faster” rates compared to what was initially expected.…
With regards to the size of a fine to settle a criminal investigation of the company’s alleged violations of U.S. clean air laws, Volkswagen is hopeful the German automaker can reach agreement by the end of the year with the U.S. government, its Chief Executive Matthias Mueller said on Wednesday. Volkswagen could be allowed to…
A report from Europol – the European Union’s (EU) law enforcement agency, claims that the volume, scope and cost of cybercrime have reached very high levels – and are set to get even higher. Cybercrime offences were becoming the norm and overtaking the reporting of “traditional” crimes in some EU countries, warned the Europol in…
As Wal-Mart Stores Inc. and India’s Flipkart Online Services Pvt battle Amazon.com Inc. in e-commerce in one of the fastest growing retail markets, the US company is believed to be in advanced discussions to invest as much as $1 billion into the Indian company, reported the media quoting sources familiar with the matter. The source…
A key engineer tainted by the emissions scandal at Volkswagen, was lost by Audi, the group’s biggest profit center, even as the German auto maker attempts to contain the fallout from the emissions cheating. After a probe showed he was aware of the manipulation when he took the job less than 10 months ago, development…
Investors and shareholders of Pfizer Inc are expecting more deals that could bolster its roster of new medicines after the company, which was considering splitting itself for more than two years, said on Monday it would not do so. Cash flow would not be boosted nor would the position the businesses be bettered competitively by…
The profit slide of Hyundai Motor Co. is threatened to be worsened further as the company’s plants in South Korea were crippled by the first complete strike by unionized workers in more than a decade on Monday. Production of thousands of vehicles at the largest auto maker in South Korea were absolutely crippled as the…
Citigroup Inc. is winning more high-profile deals in the kingdom and quietly plans to compete for more, after quitting Saudi Arabia more than a decade ago. The New York-based bank holds weekly calls to coordinate the push and has set up a company-wide task force to target opportunities in Saudi Arabia. According to sources, regional…
Algeria’s energy minister said as he prepared to host a meeting of OPEC producers later this week that Saudi Arabia, the world’s biggest oil exporter, has offered to cut its output to January levels. After Saudi Arabia signaled that the Algiers meeting will be consultative and unlikely to reach a firm decision, prices tumbled 3.7 percent on…
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