Company News

Argentina bans Procter & Gamble

Argentina bans Procter & Gamble

Argentina's Federal Administration of Public Revenue (AFIP) on Sunday published a statement in which Argentina has suspended consumer products giant Procter & Gamble (P&G) from doing business in the country while accusing the firm of tax fraud.

According to a statement on the presidential website, published on Sunday, P&G over-billed $138 million in imports to get money out of Argentina. It also accused the firm of attempting to avoid taxes.

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Pershing Square Holdings listed on Euronext’s Amsterdam Market

Pershing Square Holdings listed on Euronext’s Amsterdam Market

Pershing Square Holdings (PSH), an investment holding company and the owner of large minority stakes in North America and an active investor, has been listed on Euronext's Amsterdam market. To get admission, the company has traded about 250,253,351 of its public shares on Euronext Amsterdam.

The admission of shares in Euronext Amsterdam follows successful $2.73 billion placement of new shares issued by PSH to non-US institutional and professional investors. If the over-allotment option is exercised, the placement of new shares could raise capital of about $3 billion.

Air France Withdraws Plan to transfer Activities after Prolonged Strike by Pilots

Air France Withdraws Plan to transfer Activities after Prolonged Strike by Pilot

Air France-KLM has withdrawn a plan because of persisting strike by its pilots, said French Transport Minister Alain Vidalies on Wednesday.

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Lufthansa Pilots to go on Strike on Tuesday

Lufthansa Pilots to go on Strike on Tuesday

Lufthansa pilots will go on an eight-hour strike on Tuesday, said union Vereinigung Cockpit on Monday. The strike is intended to mount the pressure on Lufthansa over an early retirement scheme.

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General Mills buys Annie's for $820 million

General Mills buys Annie's for $820 million

Food processing major General Mills Inc announced to buy Annie's Inc, organic food producer, for about $820 million. The deal consists of $46 per Annie's share in cash, about 37.3% premium over the stock's Monday closing.
According to General Mills, the deal is an attempt to expand its presence in organic and natural foods sector. Annie's had net sales of $204 million at the end of March 2014.

‘The Honest Company’ is worth $1billion after 2 Years of Launch

‘The Honest Company’ is worth $1billion after 2 Years of Launch

According to the Wall Street Journal, The Honest Company, which Jessica Alba founded with Christopher Gavigan, Sean Kane and Brian Lee, has raised $70 million during fundraising rounds. Now, the company is worth nearly $1 billion and is making moves to prepare for an initial public offering (IPO).

This organic and environmentally friendly baby care venture was started by the Hollywood actress in 2012. Now, the company employs 275 people. It sells natural, non-toxic items ranging from household cleaning supplies to baby products.

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Salesforce.com Reports Better-than-Expected Quarterly Revenue

Salesforce.com Reports Better-than-Expected Quarterly Revenue

Cloud-based software services have witnessed higher demand during the past few quarters and many online companies have improved their product line. Key factors behind the improve demand for these services are cost- effectiveness, security, accessibility and ease of management. The cloud-based service has also led Salesforce. com to earn more-than-expected quarterly revenue.

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CR: Innovative Tesla Model S sedan has a few glitches

CR: Innovative Tesla Model S sedan has a few glitches

After having named electric carmaker Tesla Motors' innovative Model S sedan as the best-reviewed car of 2014, Consumer Reports (CR) has recently noted that some of the vehicles suffer minor flaws.

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