Browsing: Business & Economy News

US pharmaceutical giant Eli Lilly said Tuesday it has reached an agreement to acquire the animal health division of Novartis of Switzerland for $5.4 billion (3.9 billion euros). In a statement Eli Lilly said the deal will strengthen and diversify its…

German software giant SAP said Thursday it is sticking to its full-year forecasts for 2014 after profits rose slightly in the first quarter. SAP said that net profit rose by 3.0 percent to 534 million euros ($739 million) in the period from January…

A New York regulator probing Credit Suisse’s role in enabling tax evasion has demanded a trove of additional documents from the bank, a person familiar with the situation said Tuesday. Benjamin Lawsky, New York’s superintendent of financial services…

Nigeria’s largest local search engine, VConnect has announced a strategic partnership with Stanbic IBTC, a leading banking conglomerate in Africa…

Wall Street stocks Monday moved higher in early trade following a big jump in US retail sales and a better-than-expected earnings report from Citigroup. About 30 minutes into trade, the Dow Jones Industrial Average advanced 62.81 points (0.39 percent…

Can investors get rich by backing Nigerian agriculture? An increasingly loud chorus of voices say that answering this question may be the most pressing challenge facing Africa’s most populous country, ahead of defeating Boko Haram Islamists or curbing…

Turkey’s prime minister said Saturday he will “go after” Twitter, accusing the site of tax-evasion, after it was used to spread damaging leaks implicating his inner circle in corruption scandals. “Twitter, YouTube and Facebook are international companies…

Brazil’s Petrobras has turned over documents sought by authorities investigating an alleged $4.5 billion money-laundering operation, the latest in a series of problems to plague the state oil giant. Petrobras CEO Graca Foster supplied federal police…

The outlook for the crisis-battered eurozone brightened Thursday as Germany’s leading economic think tanks raised their growth forecast for Europe’s top economy this year and next year. Greece, one of the hardest-hit euro members, also returned to the…

JAN-PRO International, a leading commercial cleaning franchise, continues to show rising development as they earn the #24 position in Franchise Direct’s exclusive global franchising list. This recognition is supported by JAN-PRO’s recent expansion…

ON SATURDAY, April 5th, South Africa was Africa’s largest economy. The IMF put its GDP at $354 billion last year, well ahead of its closest rival for the crown, Nigeria. By Sunday afternoon that had changed. Nigeria’s statistician-general announced…

Global oil prices advanced on Tuesday on renewed Ukraine tensions after pro-Russian protesters seized government buildings in the eastern city of Donetsk. New York’s West Texas Intermediate (WTI) for delivery in May won 77 cents to $101.21 per barrel…

South Africa remains the most important economy in the continent despite being overtaken by Nigeria as Africa’s biggest, South African economists said. The result of a long awaited rebasing of Africa’s most populous nation showed that Nigeria’s GDP…

Swiss cement group Holcim announced on Friday that it is in merger talks with building supplies giant Lafarge. Shares in the Swiss company surged by over 4 percent and Lafarge stock climbed by 6 percent late on Friday on rumours ahead of the announcement…

Europe’s main stock markets pushed higher on Friday as jobs data showed the recovery in the US economy is back in form after catching a winter cold. London’s FTSE 100 index climbed 0.56 percent compared with Thursday’s closing value to stand at 6,686…

Swiss pharmaceutical giant Novartis said on Thursday it was replacing the top executives at its Japanese unit over allegations the division hid serious potential side effects of leukaemia treatments from regulators. David Epstein, the head of the firm…

The S&P 500 Wednesday rose to a new high, but the Dow Jones Industrial Average fell just short of a record on another good day for stocks. Positive sentiment lifted the S&P 500 by 5.38 (0.29 percent) to 1,890.90, the second record close in a row. The…

The S&P 500 Tuesday closed at a new record as US stocks rallied following solid economic data and investor relief over US Federal Reserve policy. The S&P 500 jumped 13.18 (0.70 percent) to 1,885.52, its first record close since March 7. The Dow Jones…

US Senate investigators have accused heavy equipment giant Caterpillar of hiding $8 billion in profits offshore in Switzerland to avoid US taxes. In a report released late Monday, investigators said the company took advantage of a special corporate…

Greece will receive 6.3 billion euros ($8.7 billion) from its pending EU bailout fund at the end of April, Eurogroup chief Jeroen Dijsselbloem said on Tuesday. “A first tranche of 6.3 billion euros at the end of April will allow Greece to meet its debt…