30 March, 2015 by The TZ Newswire Staff Comments Off on Philips sells 80.1 percent of lighting components unit for $2.8 billion
Philips sells 80.1 percent of lighting components unit for $2.8 billion
Philips (PHG.AS) has agreed to sell an 80.1 percent stake in its lighting components division for $2.8 billion to Go Scale Capital, a technology fund that will seek to build the company’s automotive LED business. The deal announced on Tuesday is a prelude to an even bigger strategic move for Philips: spinning off its main lighting division, the world’s largest lighting maker, via a stock market flotation, as the Dutch group focuses on medical technology and selected consumer electronics.
30 March, 2015 by The TZ Newswire Staff Comments Off on Off with their heads! Queen’s staff vote on strike
Off with their heads! Queen’s staff vote on strike
Workers at one of the Queen’s palaces are royally cross about “appallingly” low wages – which could mean that they go on strike for the first time.
30 March, 2015 by The TZ Newswire Staff Comments Off on Currencies: Dollar steadies, but Japan book closing could take a bite
Currencies: Dollar steadies, but Japan book closing could take a bite
Market participants were expecting the greenback to have a downward bias against the yen as Japanese exporters and financial institutions made their final currency transactions on the day of book closing for the Japanese fiscal year.
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30 March, 2015 by The TZ Newswire Staff Comments Off on Asia up on Wall St. rally and China hopes, euro sags on Greece
Asia up on Wall St. rally and China hopes, euro sags on Greece
Asian stocks rose across the board on Tuesday after a rally on Wall Street and steps by China to shore up its economy boosted risk appetite, while Greek debt worries again haunted the sagging euro. Spreadbetters expected European shares to pull back slightly after Monday’s rise, calling for Britain’s FTSE (.FTSE), Germany’s DAX (.GDAXI) and France’s CAC (.FCHI) to open a touch lower. Tracking overnight gains in U.S. stocks, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.5 percent. Japan’s Nikkei (.N225) bucked the trend and lost 0.2 percent.
30 March, 2015 by The TZ Newswire Staff Comments Off on Oil extends losses as deadline for Iran nuclear deal looms
Oil extends losses as deadline for Iran nuclear deal looms
Oil futures extended losses on Tuesday, as Iran and six world powers ramped up the pace of negotiations to reach a preliminary deal that could ease sanctions and allow more Iranian crude onto world markets. With a deadline less than 24 hours away, United States, Britain, France, Germany, Russia and China were trying to break an impasse in negotiations aimed at stopping Iran from having the capacity to develop a nuclear bomb, in exchange for an easing of international sanctions.
30 March, 2015 by The TZ Newswire Staff Comments Off on Exclusive: Cablevision to make $1 offer for New York Daily News
Exclusive: Cablevision to make $1 offer for New York Daily News
The offer would come one month after New York media and real estate magnate Mortimer Zuckerman said he was considering selling the newspaper and had hired Lazard Ltd to assist with the process. Cablevision’s $1 bid takes into account the New York Daily News’ reported $30 million annual loss and $150 million investment in a printing press, and declining circulation that relies heavily on newsstand sales rather than on subscriptions, the source said. Cablevision declined to comment while a representative for the New York Daily News could not immediately be reached for a comment.
30 March, 2015 by The TZ Newswire Staff Comments Off on IBM says to invest $3 billion in ‘Internet of Things’ unit
IBM says to invest $3 billion in ‘Internet of Things’ unit
The Armonk, New York-based technology company said its services will be based remotely in the cloud, and offer companies ways to make use of the new and multiplying sources of data such as building sensors, smartphones and home appliances to enhance their own products. For its first major partnership, IBM said a unit of the Weather Co will move its weather data services onto IBM’s cloud, so that customers can use the data in tandem with IBM’s analytics tools.