Author Archives
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3 Hanjin ships sold for $39 million
Overcapacity and the uncertainty surrounding its future increase the possibility of more of its ships being sold. Three chartered ships have already among the dozen ships belonging to Hanjin Shipping Co Ltd, which are expected to be put up for… Read More ›
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Bayer’s supervisory board to review Monsanto deal today
If the deal goes through, it could create a superpower of a company will can control the world’s food supply. According to sources familiar with the matter at hand, Monsanto’s board is likely to weigh-in on Bayer AG’s $65 billion… Read More ›
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Jaguar Land Rover picks Takenaka & Vces as partners for its Slovak factory
JLR’s investment is stated to be the country’s biggest ever foreign direct investment in its history. Jaguar Land Rover (JLR) has disclosed that it has picked Vces and Takenaka, a a Czech and a Japanese company respectively, as subcontractors for… Read More ›
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Samsung to stop showing Galaxy Note 7 ads in South Korea by the end of this week
With Apple’s iPhone 7 out, the opportunity cost in lost sales is massive for Samsung. Unless its engineers can fix the root of its fire-catching issue, the stopping of ads is likely to spill to other regions too. According to… Read More ›
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World’s 3rd Biggest chipmaker set to acquire Intersil Corp for $3.2 billion
This acquisition by Renesas Electronic Corp will result in the diversification of its portfolio and could see its sales chart boom due to the intensifying usage of electronic components in the auto industry. Midst a rising wave of consolidation taking… Read More ›
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Hanjin Group’s chairman transfers $36 million to Hanjin Shipping
Hanjin Shipping’s cargo hangs in the balance as it desperately tries to secure additional funds. According to a spokesman of the Hanjin Group, its chairman has transferred $36 million (40 billion won) to Hanjin Shipping today so as to help… Read More ›
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With an eyeing on the Chinese car market, VW partners with Chinese tech groups
With China’s car market being the biggest in the world, this strategic step by VW could have potentially big payoffs. Undeterred by its troubles, Volkswagen has deepened its collaborations with Chinese internet technology groups in order to increase and expand… Read More ›
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Hanjin ship begins unloading at California
Reeling under a $5.5 billion debt, Hanjin’s plight have increased freight rates and are casting long shadows on the coming U.S. holiday season. In a development that bodes well for importers, a ship belonging to bankrupt shipping company, Hanjin Shipping… Read More ›
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Amazon & Pandora to launch subscription based music streaming services
Amazon’s Echo customers will be charged only $5 for the music streaming service against the industry’s going rate of $10. According to several sources who are knowledgeable of the matter at hand, Amazon.com Inc. and Pandora Media Inc. are planning… Read More ›
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Wells Fargo settles customer fraud with $190 million
Wells Fargo has been accused of pushing financial products on customers which they did not ask for or was required by them. Although Wells Fargo’s ability to sell multiple products to the same customer base is legendary, regulators have now… Read More ›
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