02142016Sun
Last update: Sun, 14 Feb 2016 11pm

Industries & Sectors

Business & Finance - Industries & Sectors

China eyes Opera browser for $1.2 billion Opera-the Norwegian web browser is in the line of being purchased by a Chinese consortium for $1.2 billion, the development indicates China recent drive to buy major businesses in the West. According to CNN, Opera Software confirmed that it received an acquisition offer from a consortium consisting of Kunlun and Qihoo, Chinese internet firms, which are backed by two Chinese private equity funds that values Opera for $1.2 billion.According to The Guardian, the takeover would allow the mobile games and apps firm Kunlun and internet-security company Qihoo to promote their products to Opera’s browser users, as well as use its mobile advertising network.“We believe that the consortium, with its breadth of expertise and strong market position in emerging markets, will be a strong owner of Opera,” said Opera chief executive Lars Boilesen.For the takeover to go smoothly, more than 90 percent of Opera’s shareholders will have to accept ...

Business & Finance - Industries & Sectors

Rolls-Royce sticks to 2016 guidance, halves dividend LONDON: Rolls-Royce left its 2016 guidance unchanged, in a show of stability after issuing three profit warnings last year, although it halved its dividend to shore up its finances during a slowdown in demand for some of its engines. The world's second largest maker of aircraft engines had alerted investors to the risk to its dividend in November, when it said it was putting the payout under review amid a further deterioration in its markets.Rolls-Royce ...

Business & Finance - Industries & Sectors

Uber agrees to $28.5mn settlement over safety claims SAN FRANCISCO: Uber said Thursday it has agreed to pay $28.5 million to settle a pair of lawsuits challenging its promises on driver safety checks.The settlement submitted for approval in US District Court in Northern California called for the ride-share company to divvy up the cash between some 25 million customers and to "avoid using certain language in safety-related advertising as well as the term Safe Ride Fee.""No means of transportation can ever be 100 ...

Business & Finance - Industries & Sectors

Boeing shares dive on SEC accounting probe talk NEW YORK: US aerospace giant Boeing's shares dived Thursday amid speculation that regulators are investigating its accounting for its 787 and 747 aircraft.In midday trade, shares in the Dow member were down about 10 percent at $104.44.The Securities and Exchange Commission has opened a probe on Boeing's profitability forecasts for the long-haul 787 and 747 jetliners, said a person close to the situation, speaking on condition of anonymity to AFP.The SEC suspects that Boeing had ...

Business & Finance - Industries & Sectors

L'Oreal reports glowing sales and operating margin in 2015 PARIS: French cosmetics giant L'Oreal said Thursday that its sales and operating margin improved considerably last year, but profit fell by a third due to an asset sale in 2014.The 3.3 billion euro ($3.7 billion) net profit in 2015 was up 14 percent, however, if the 2.1 billion euros it booked for the sale of the 50 percent stake in of dermatological research lab Galderma to Nestle is stripped out of the results.Stripping out all ...

Business & Finance - Industries & Sectors

France's Total slashes investment amid oil price collapse PARIS: French oil company Total said Thursday it had cut its investment target this year as it steps up efforts to drastically cut costs to counter a global collapse in oil prices. Total said it would invest up to two billion dollars less in 2016 than originally planned, as it, like other oil giants, grapples with weak oil prices that have slumped around 70 percent since mid-2014 due to chronic oversupply and on Thursday got ...

Business & Finance - Industries & Sectors

Norwegian Air swings to bigger than expected Q4 operating profit OSLO: Budget airline Norwegian Air Shuttle reported fourth-quarter earnings above expectations on Thursday and kept its outlook for growth in capacity this year, while costs were seen lower. Norwegian, Europe's third-biggest budget airline by passenger numbers after Ryanair and easyJet, has launched flights to the Middle East, southeast Asia and the United States, bringing low-cost offers into the long-haul segment, as well as expanding in its core European market. "We enter 2016 with favorable fuel ...