Lakshmi N. Mittal, the CEO of ArcelorMittal SA (ADR)(NYSE:MT), stated that steelmaking is their passion and it will continue to drive company for several years to come. On August 1, 2006, Mittal Steel and Arcelor merged to establish the world`s leading steel firm. The management view Expressing his views, Mr. Mittal said that the reason […]
Marketing
Avon Products, Inc. (NYSE:AVP) Updates On Progress of Transformation Plan
Sheri McCoy, the CEO of Avon Products, Inc. (NYSE:AVP) reported that 2Q2016 results came better than expectation, led by improved operating performance. The company witnessed modest easing of foreign currency pressure. Prominently, the performance improvements spread across markets with 9 of company’s top 10 markets gaining from local currency. The highlights McCoy said that they […]
Itau Unibanco Holding SA (ADR)(NYSE:ITUB) 2Q2016 Recurring Net Income Declined 9%
Itau Unibanco Holding SA (ADR)(NYSE:ITUB) reported a smaller profit decline compared to analysts’ projections as the bank revenue gained from services, while cautioning that in coming period its loan book will narrow. The highlights Itau Unibanco reported that recurring net income in 2Q2016, which do not cover one-time items, dropped 9% to 5.58 billion reais. […]
Vale SA (ADR) (NYSE:VALE) Unloads Future Gold Output Worth $800 Million to Reduce Debt
Vale SA (ADR) (NYSE:VALE) has announced the sale of its future gold output valued at $800 million as part of its strategy to reduce its $27 billion debt portfolio. Vale’s debt is load is the second largest debt portfolio after Glencore International PLC, St. Helier (OTCMKTS:GLCNF). Vale’s plan, for now, is to reduce the debt […]
Chesapeake Energy Corporation (NYSE:CHK) Makes Come Back Strides
Chesapeake Energy Corporation’s (NYSE:CHK) stock has been under pressure for months. It has also suffered the collapse of natural gas and crude oil prices. The situation may also have been made worse by the demise of CEO and co-founder Aubrey McClendon. The CEO is said to have died after driving into an Oklahoma City concrete […]
Mobile Games Poised to see Console-Like Graphics Soon
There is an invisible sea change going in within mobile devices, and it has to do with speed. The mobile experience is becoming more and more vital to consumers who crave high-definition streaming and high-powered mobile gaming. Semiconductor technology and microprocessor technology is growing faster than ever because phone companies like Apple (NASDAQ:AAPL) and Samsung […]
Seadrill Ltd (NYSE:SDRL) Extends Contracts With Saudi Arabian Oil Co.
Seadrill Ltd (NYSE:SDRL) has announced on Friday that it received three-year contract extensions from Saudi Arabian Oil Co., which is popularly known as Saudi Aramco, for the AOD I and AOD II jack-ups, which are now expected to expire by June and July 2019, respectively. With the extensions, Seadrill will continue the current existing contracts […]
Office Depot, Inc. (NASDAQ:ODP) Appoints Hilton Worldwide Holdings Inc (NYSE:HLT) EVP, General Counsel Campbell As New Board Of Directors Member, Unveils Realspace Modern Comfort Series
Office Depot, Inc. (NASDAQ:ODP) has named on Monday the newest member of its Board of Directors, Kristin Campbell, who will be part of the Audit Committee as well. Roland Smith, Office Depot Chairman and CEO, stated in behalf of the company that he is pleased to have Campbell on board, believing that her experience of […]
MeetMe Inc (NASDAQ:MEET) Mobile Revenue Jumps 82% YoY In 2Q2016
MeetMe Inc (NASDAQ:MEET) reported tremendous progress in 2Q2016 towards its objective of becoming the largest global service for chatting and meeting with new people. In 2Q2016, mobile revenue jumped 82% YoY to $15.1 million, contributing 92% of the total revenue. Total revenue surged 48% to $16.4 million. The management speaks Geoff Cook, the CEO of […]
Encana Corp (USA)(NYSE:ECA) Closes The Sale of DJ Basin And Gordondale Assets
Encana Corp (USA)(NYSE:ECA) reported that it closed the sales of Gordondale assets to Birch cliff Energy Ltd. The company’s subsidiary unit, Encana Oil & Gas (USA) Inc., also closed the sale of its Denver Julesburg Basin assets to Crestone Peak Resources. As stated earlier, the company plans to use a part of the cash proceeds […]
