Feb. 23 (Bloomberg) — General Motors Co. and PSA Peugeot Citroen have something in common: They both lose money in Europe. The issues they face may not be fixed by teaming up. The two carmakers are in talks about forming an alliance to develop engines and build vehicles together in Europe, a person familiar with [...]
Feb. 24 (Bloomberg) — Ranbaxy Laboratories Ltd., India’s largest drugmaker, reported its biggest ever quarterly loss after the company took a $500 million charge to settle a legal dispute with U.S. authorities in December. The loss widened to 29.8 billion rupees ($606 million) in the fourth quarter, from 974.8 million rupees a year earlier, Ranbaxy [...]
Feb. 23 (Bloomberg) — Apple Inc.’s legal fight for the iPad name in China doesn’t just pit the world’s most-valuable company against a failed Hong Kong display maker. Some of the nation’s biggest banks also are opposing the technology giant. Apple is appealing a Chinese court ruling that the trademark belongs to a mainland unit [...]
(Updates with closing share prices throughout.) Aug. 19 (Bloomberg) — Hewlett-Packard Co.’s $10.3 billion takeover of Autonomy Corp. bolstered valuations for European software makers, highlighting their attraction compared with hardware providers. HP is paying about 24 times earnings before interest, taxes, depreciation and amortization, a multiple that was last matched by Oracle Corp.’s acquisition of [...]
(Updates with closing share price in eighth paragraph.) Aug. 19 (Bloomberg) — Esprit Holdings Ltd., the biggest Hong Kong-listed clothier, is exploring the sale of its U.S. and Canadian operations, according to three people familiar with the matter. Rothschild in New York has been hired to advise Esprit, said the people, who declined to be [...]
Spam, the canned curiosity made by Hormel Foods (HRL), is many things in America—a cult brand, the butt of jokes, the inspiration for a Broadway musical. One thing it’s not: a premium product. Yet that’s how Hormel is positioning Spam in China. Hormel Foods International President Rick Bross touts its “juicy meaty satisfaction,” saying that [...]
(Updates with sales target in sixth paragraph.) Aug. 9 (Bloomberg) — General Motors Co., China’s largest overseas automaker, introduced its first sedan under a new China-only brand to cater to entry-level buyers in the world’s largest auto market. The four-door 1.5-liter Baojun 630 sedan will go on sale today, with prices from 62,800 yuan ($9,750) [...]
Economic Growth By Dexter Roberts Squeezed between China and Russia and equal in size to Western Europe, Mongolia is one of the most sparsely populated countries in the world. While it may be short on people, Mongolia is one of the richest countries in natural resources, and that’s just the known deposits: Four-fifths of the [...]
(Adds closing share price in eighth paragraph.) Aug. 5 (Bloomberg) — Sony Corp., the world’s second- largest maker of video-game machines, shouldn’t count on Yukinobu Takeda to stand in line for the $380 PlayStation Vita when the portable player begins selling this year. “PS Vita’s quite expensive,” said Takeda, 36, an event planner in Tokyo, [...]
Aug. 3 (Bloomberg) — Roustam Tariko, billionaire owner of Russian Standard Bank and Russian Standard Vodka, completed the most expensive home purchase in Miami Beach since 2006 when he bought a $25.5 million estate on Star Island in April. The transaction made Tariko the neighbor of another wealthy Russian with a taste for Florida luxury [...]