M&M to acquire 51% stake in Peugeot Motorcycles
In a statement, M&M said under the “binding offer” made by Mahindra Two Wheelers Ltd (MTWL), there would be an “infusion of 15 million euro into Peugeot Motocycles (PMTC) to finance projects implemented through strategic partnership, and further sale of shares by PSA, which... read more »
Samsung third-quarter earnings collapse
Samsung Electronics has warned that its third-quarter earnings would be 60 per cent lower than a year earlier, as its smartphone division reeled from a competitive assault by cheaper Chinese competitors. In preliminary guidance on Tuesday, the South Korean group said operating profit for the three... read more »
L&T gets Rs1,630 crore EPC order in Uttar Pradesh
Mumbai: Larsen and Toubro Ltd’s construction unit has received an engineering, procurement and construction (EPC) order worth Rs.1,630 crore in Uttar Pradesh, the company said in a statement on Tuesday. L&T Construction has won the order from the Expressways Industrial Development Authority,... read more »
China sacks 160,000 government employees who did not exist
BEIJING – China has taken 160,000 “phantom” government staff off its official payroll who were receiving salaries despite not doing any work. A total of 162,629 officials who were taking government wages without working have been removed in a nationwide campaign over the last year, the... read more »
