07012016Fri
Last update: Fri, 01 Jul 2016 02pm

Business & Finance - Industries & Sectors

Vivendi COO Stephane Roussel to be named as new Gameloft CEO PARIS: Vivendi Chief Operating Officer Stephane Roussel is set to be named as Gameloft's new chairman and chief executive officer after a hostile takeover battle, a source close to the matter said on Wednesday. Roussel is among the five new Gameloft board members that were named on Wednesday at the company's annual shareholders meeting, following Vivendi's take over which left it owning about 95 percent of the mobile video games maker's shares. The four other board members also represent media giant Vivendi, which is led by billionaire Vincent Bollore.They include the CEO of Vivendi's pay-TV Canal Plus, Maxime Saada and the son of Bollore, Sebastien Bollore. "We are at a turning point today ," Vivendi Chief Executive Officer Arnaud de Puyfontaine told Gameloft shareholders. "Gameloft represents the first step in a very ambitious plan that we have for the video games sector," he said. The Guillemot family, which founded and ...


Business & Finance - Managed Funds

US 30-year yield approaches all-time low NEW YORK: The yield on US 30-year Treasury bonds on Wednesday fell to its lowest since February 2015, closing in on its record low set 17 months ago, as investors also loaded up on European and Japanese government bonds and sent their yields to historic lows.The 30-year Treasury yield touched 2.251 percent early Wednesday before edging up to 2.263 percent, which was down 1 basis point from late on Tuesday. The 30-year yield struck a ...

Business & Finance - Industries & Sectors

Vodafone says UK headquarters in doubt after Brexit LONDON: British telecoms giant Vodafone warned Wednesday that the future of its London-based headquarters is in doubt after voters chose to quit the European Union.EU membership has been important to Vodafone's growth, the group said in a statement, with most of its 462 million customers and 108,000 employees based outside of Britain.The bloc offered free movement of people, money and goods, as well as access to an emerging European digital market, it said."It remains unclear ...

Business & Finance - Industries & Sectors

Man sues Apple for $10bn, claims he invented iPhone A Florida man is suing the iPhone maker Apple for $10 billion, claiming that it was him who invented iPhone back in 1992.Thomas Ross, a man residing from US state of Florida says that filed a US patent for a rectangular device, having rounded corners and a backlit screen, which could play music, store books, or have mobile telecommunications hardware, in 1992. His patent application reads, “The device, constituting the invention, is a computerized, electronic ...

Business & Finance - Industries & Sectors

VW owners say core business still strong STUTTGART: Volkswagen's top shareholders said the group's core business is still robust, after the carmaker agreed a record $15.3 billion settlement in its emissions-cheating scandal in the United States."We are firmly convinced that Volkswagen (VW) has long-term potential to gain in value," Hans Dieter Poetsch, chief executive of Porsche SE, which owns 52 percent of VW's voting shares, said on Wednesday.The German carmaker, in a U.S. deal announced on Tuesday, will pay up to $15.3 ...

Business & Finance - Banking & Finance

Lloyds planning to cut 640 jobs to cut costs: sources LONDON: Lloyds Banking Group is planning to axe about 640 jobs, according to people familiar with the process, as Britain's largest mortgage lender continues to scale back the size of its workforce.All the employees impacted work in information technology and back office roles and are being told of the decision on Wednesday, according to the sources, who asked not to named because they are not authorised to discuss the plans.Lloyds, rescued in a 20.5 billion ...

Business & Finance - Industries & Sectors

Mitsubishi Motors Japan sales extend slide after mileage scandal TOKYO: Domestic vehicle sales at Mitsubishi Motors Corp roughly halved in May for the second straight month as demand continued to fall after the Japanese automaker admitted to overstating the mileage of four mini vehicles it produced.Sales at Nissan Motor Co Ltd also suffered, led by mini vehicles, or "kei" cars, as the company markets two of the affected models supplied by Mitsubishi Motors.Sales of the four models have been stopped since Mitsubishi in April ...