Blackstone offers $2 billion for Finnish real estate firm Sponda

Businessam StaffJune 5, 2017

U.S. private equity group Blackstone Group (BX.N) said on Monday it had offered to buy all shares in Finnish real estate investment company Sponda (SDA1V.HE) for about 1.8 billion euros ($2.0 billion) as it seeks to expand its real estate business in the Nordic region. The cash offer, 5.19 euros per share, represents a premium […]

How McDonald’s Corp. makes most of its money

Businessam StaffJune 4, 2017

It’s not from sales of the Big Mac, the Quarter Pounder, or Chicken McNuggets… With 37,000 locations across 120 countries, McDonald’s (NYSE: MCD) is easily the biggest restaurant chain in the world. The fast food titan is also among the most profitable companies on the market. Despite a weak operating year in 2016, its 20% […]

Takeoff and cruise: Toyota making ‘flying car,’ luxury boat

Businessam StaffJune 3, 2017

Toyota Motor Corp. is working on a “flying car.” Cartivator’s flying car model hovers on a former school ground in Toyota, central Japan, Saturday, June 3, 2017. Toyota Motor Corp. is working on a “flying car.” Cartivator Resource Management, in which Toyota invested 42.5 million yen ($386,000), showed to reporters Saturday a test flight of […]

Which companies have the highest revenue per employee?

Businessam StaffJune 2, 2017

For many companies, the biggest cost is talent. This is especially true of Silicon Valley, where companies sell clicks and digital goods that do not have any material cost. So which companies’ workforces are able to generate the most revenue? We decided to analyze every company in the Standard & Poor’s 500 Index to see […]

Reynolds’ chief exec to stay on after BAT takeover

Businessam StaffJune 2, 2017

US tobacco giant Reynolds American has said its chief executive will remain at the company after its planned $49.4bn merger with British American Tobacco goes ahead. The North Carolina-based company said Debra Crew would stay on as president and chief executive and report to BAT’s chief Nicandro Durante. However Andrew Gilchrist, chief financial officer at […]

South Africa’s Vodacom shareholder PIC to back Safaricom deal

Businessam StaffJune 2, 2017

South African telecoms operator Vodacom Group said on Friday its second biggest shareholder, the Public Investment Corporation (PIC), will vote in favour of its 34.6 billion rand ($2.67 billion) takeover of Kenya’s Safaricom, Reuters reports. The PIC, which includes the Government Employees Pension Fund, holds a 15.63 percent interest in Vodacom Group. UK-based group Vodafone […]

Daimler, Volkswagen eye China’s electric car market

Businessam StaffJune 2, 2017

German auto giants Daimler and Volkswagen announced plans Thursday to secure pole positions in China’s electric car market as the world’s second-biggest economy ramps up investment in cleaner energy. Coinciding with a visit to Berlin by Chinese premier Li Keqiang, Daimler and VW were among a string of top German companies to unveil major business […]

Transcorp Hilton Abuja completes upgrade of executive floors

Businessam StaffJune 1, 2017

Transcorp Hilton Abuja today announced the reopening of its executive floors and lounge, following the completion of the renovation of the floors. The reopening marks a milestone in the on-going $100 million renovation project of the 5-star hotel. Valentine Ozigbo, Managing Director/CEO, Transcorp Hotels Plc, while speaking on the reopening said, “Our guests have grown […]

Barclays to sell 22% Africa division stake worth $2 billion

Businessam StaffJune 1, 2017

Barclays Plc said it will sell a further 22 percent stake in its South African unit, a holding worth about $2 billion at current prices, as part of the U.K. bank’s plan to shrink its operations and bolster capital strength. The London-based lender is offering about 187 million shares of Barclays Africa Group Ltd. in an […]