24 March, 2015 by The TZ Newswire Staff Comments Off on Kraft in talks to be acquired by Brazil’s 3G Capital: source
Kraft in talks to be acquired by Brazil’s 3G Capital: source
3G teamed up with Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) to acquire Ketchup maker H.J. Heinz Co for $23.2 billion two years ago. 3G is now expected to merge Kraft with Heinz if it clinches a deal.
24 March, 2015 by The TZ Newswire Staff Comments Off on Oil prices dip as U.S. inventory build drags
Oil prices dip as U.S. inventory build drags
Crude futures dipped on Wednesday as ballooning U.S. storage volumes pressured prices, a trend some analysts said they expected to continue for another two months. Brent oil futures were trading at $55.06 …
24 March, 2015 by The TZ Newswire Staff Comments Off on Top U.S. CEOs reaped billions from stock gains in recent years, Reuters analysis shows
Top U.S. CEOs reaped billions from stock gains in recent years, Reuters analysis shows
CEOs at large U.S. companies collectively realized at least $6 billion more in compensation than initially estimated in annual disclosures in the five years after the financial crisis first hit, according to a Reuters analysis. About 300 CEOs who served throughout the 2009-2013 period at S&P 500 companies together realized about $22 billion in compensation in the form of pay, bonuses and share and option grants, or an average of $73 million each, figures provided by executive compensation data firm Equilar show.
24 March, 2015 by The TZ Newswire Staff Comments Off on Greece risks running out of cash by April 20, scrambles on reforms
Greece risks running out of cash by April 20, scrambles on reforms
After talks with EU leaders including German Chancellor Angela Merkel in the past week, Athens said it will present a package of reforms to its euro zone partners by Monday in the hope of unlocking aid and avoiding a messy default. “It will be done at the latest by Monday,” government spokesman Gabriel Sakellaridis told Mega TV.
24 March, 2015 by The TZ Newswire Staff Comments Off on Telefonica finalizes $15 billion sale of UK unit to Hutchison
Telefonica finalizes $15 billion sale of UK unit to Hutchison
Spain’s Telefonica (TEF.MC) said it had finalised a deal to sell its British mobile business O2 to Li Ka-shing’s Hutchison Whampoa for 10.25 billion pounds ($15.2 billion), confirming details announced earlier this year. Telefonica and Hutchison entered exclusive negotiations over O2 on Jan. 23. Hutchison already operates the Three Mobile network in Britain, and buying second-ranked O2, which has about 22 million subscribers, will make it the top mobile operator in the country.
24 March, 2015 by The TZ Newswire Staff Comments Off on Silicon Valley gender trial enters final stages
Silicon Valley gender trial enters final stages
Dollar signs rather than discrimination drove a former partner at venture-capital firm Kleiner Perkins Caufield & Byers to file her gender discrimination suit, a lawyer for the firm told jurors Tuesday in the high-profile trial. “The complaints of Ellen Pao were made for only one purpose,” said Lynne Hermle, a lawyer for Kleiner Perkins, in her closing arguments in San Francisco Superior Court. “They ran Kleiner Perkins like a boys’ club,” Exelrod said of firm leaders, whom he blamed for creating an environment that worked against women.
24 March, 2015 by The TZ Newswire Staff Comments Off on Australia ready to join China-led bank, seeks clarity on governance
Australia ready to join China-led bank, seeks clarity on governance
Australia is “well and truly” disposed to join the China-led Asian Infrastructure Investment Bank (AIIB), Prime Minister Tony Abbott said on Wednesday, but wants to know how much power Beijing would hold in the institution before a formal decision. Fairfax Media citing government sources, reported the federal cabinet has approved Australia signing a “memorandum of understanding” on joining the AIIB. Australia, South Korea and Japan are the notable regional absentees from the bank, which the United States had warned against.