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Abu Dhabi Company Pulls Daimler Investment
An Abu Dhabi company is abandoning its investment in the German automaker, Daimler. This report came from a German magazine that received tips from various sources within Daimler. According to the report, Abu Dhabi company Aabar is thinking of transferring over their last 3% shares in Daimler to Deutsche Bank. Aabar became the largest...
Apple’s iPhone 5 Shines
Sales of Apple’s new iPhone 5 could exceed that of the iPhone 4s model in its first week in the market. Analysts also added that the company could sell up to 33 million smartphone units during the quarter as the result of their aggressive launch plan. Many analysts expressed surprise at Apple’s rapid plan...
DHL Increases Investments in Mexico
The international courier company, DHL Express, increased its Mexico investment from 125 million to 160 million. It is said that this move was influenced by the foreseeable economic growth of the said country in the coming years. This in turn, will double the company’s investment. They announced that the investment will be part of...
Deutsche Bank Cuts Back on Costs
FRANKFURT – Deutsche Bank will no longer ask its shareholders for additional capital. Instead, it will reduce its balance sheet and cut costs to meet stricter new regulations. The organization aims to address structural and a cyclical downturn in the banking sector with a strong plan that includes a charge for €4EUR million ($5...
Lufthansa Records the Biggest Strike in the Company’s History
BERLIN – Last Friday, Lufthansa flight attendants held the biggest strike ever to happen to the German airline company. The strike, coinciding with the end of the summer holidays in the south of Germany, caused many cancellations in the afternoon. Due to the fact that a thousand flights were canceled, the company promised to...
Six Flags Mexico Opens Three New Shows
MEXICO CITY – Six Flags announced that between this year and 2013, they will open two new festival-themed amusement parks in Mexico. On top of that, they will also feature a new roller coaster ride in the Spring of 2013 and it will be called “The Joker”. This new attraction will extend Six Flags’...
Global Economic Slowdown Hits Japan
TOKYO – Japan’s local assessment of the economy has put pressure on exports and industrial production. Due to the global economic slowdown, they have advised companies to cut back on their production until trends pick up. This of course, poses as a problem for manufacturers because that would mean that they will have trouble recovering...
France’s Unemployment Rate Reaches an All Time High
PARIS – The number of jobless people in France rose for the fifteenth consecutive month. Figures show that the unemployment rate has reached its highest in over 13 years. Clearly bad news for the French economy this indicates that it has reached the point of stagnation. The data released by the Labor Ministry showed...
Hertz to Buy Dollar Thrifty
NEW YORK – International car rental company Hertz announced their plans to buy Dollar Thrifty Automotive Group for $2.3 million. This news has brought hope of achieving more business and garnering more customers as they expand their global reach. Last Sunday, Hertz Global Holdings Inc. announced that they will pay $87.50 for each Dollar...
Spain’s GDP Grew Less Than Expected
MADRID – According to revised figures released last Monday, the Spanish economy failed to meet the expectations that were set in 2010 and 2011. This suggests that the country may have more difficulty getting out of threatening recession. Amid the second recession in the Spanish economy, the statistics institute said the country’s GDP...
Oil Prices May Continue to Rise in the Coming Months
NEW YORK – U.S. Federal Reserve chairman Ben Bernanke, may or may not provide more clues about a possible third round of bond purchases in his speech at Jackson Hole next week. But investors are clearly betting on more quantitative easing or other forms of stimulation. How do I know? Just look at what is...
Verdict for the Apple VS. Samsung Case is in the Hands of the Jury
NEW YORK – After 50 hours of testimonies, hundreds of tests , millions of dollars in fees for lawyers and expert witnesses, 84 court instructions and four hours of closing arguments in the Apple vs. Samsung patents trial, the decision is now in the hands of seven men and two women with no previous...
