02 May 2005 09:40 AM

Neiman Marcus announced on Monday that it agreed to be acquired by Texas Pacific Group and Warburg Pincus for about $5.1 billion.

02 May 2005 04:38 AM

Neiman Marcus Group Inc., a luxury retailer, is close to a takeover deal with buyout firms Texas Pacific Group and Warburg Pincus LLC, although the transaction has not been finalized. The two companies have won in the auction putting in a bid of about $100 a share for Neiman Marcus known for its extravagant Christmas catalogs. The total value of the takeover approaches $5 billion. This is nine times Neiman’s cash flow.

02 May 2005 04:36 AM

Warren Buffett, the world’s second-richest person and CEO of Berkshire Hathaway, said Sunday that Bill Gates’s presence on the board of Berkshire Hathaway Inc. will help to continue the entity’s success story after the resignation of Buffett himself.

29 Apr 2005 09:12 AM

ChevronTexaco Corp., the fourth-largest oil company by reserves, reported today that its first-quarter revenue rocketed 24%.

28 Apr 2005 02:47 PM

The largest drugmaker for Europe GlaxoSmithKline Plc said its antidepressant Paxil CR may soon return to the market. The company also plans to get back its diabetes treatment Avandamet after the agreement with the US regulators on improving manufacturing of the drugs.

28 Apr 2005 10:21 AM

Allied Domecq is approached by rival bidders admitting the possibility of a bidding war with the first bidder Pernod Ricard. Allied Domecq said on Wednesday that it had received a "preliminary approach" about a potential offer from a consortium

28 Apr 2005 10:13 AM

The world’s largest passenger plane, the Airbus A380, took off successfully on its initial flight Wednesday starting new page in the Airbus’s fight U.S. with rival Boeing Co for the global aviation market.

28 Apr 2005 09:59 AM

Procter & Gamble reported today that its third-quarter profit rose 13% on good sales of health products. Profit climbed to $1.72 billion, or 63 cents a share, from $1.53 billion, or 55 cents, in the previous year. Analysts were expecting 61 cents a share.

28 Apr 2005 09:54 AM

L. Dennis Kozlowski, former chief executive of Tyco International Ltd. on Wednesday denied charges on how loan programs of the company were abused by misplacing bonuses. Kozlowski testified Wednesday on larceny charges and tried to explain how his best intentions to increase business

28 Apr 2005 09:49 AM

Exxon Mobil Corp., the world’s largest oil company, reported today that its first-quarter profit rocketed 44% on high energy prices. Profit

28 Apr 2005 08:09 AM

Siemens, the leading German engineering manufacturer, warned that its 2005 earnings can take a dip on the cost of handset unit restructuring. Siemens’ new chief executive Klaus Kleinfeld revealed the plan to spin off the unit that posted loss of €138m (

28 Apr 2005 06:41 AM

AstraZeneca, Europe’s third- largest drugmaker, reported on Thursday that its first-quarter profit rose 31%. Profit rose to $1.04 billion, or 63 cents a share, from $799 million, or 47 cents a share, in the previous year.

28 Apr 2005 06:36 AM

Royal Dutch/Shell Group, the world’s third-largest oil company by market capitalization, reported on Thursday that its first-quarter income rose 42% on high energy prices. Income

28 Apr 2005 06:31 AM

Alcatel SA reported today that its quarterly profit fell 55%. Profit tumbled to 124 million euros ($160.4 million) from 278 million euros in the previous year. Operating profit rose 27% to 107 million euros from 84 million euros.

28 Apr 2005 06:02 AM

Nomura Holdings, Japan’s largest securities firm, reported today its fourth-quarter profit fell 64%. Profit tumbled to 25.5 billion yen ($241 million), or 13.16 yen a share, , from 69.9 billion yen, or 36.01 yen a share, last year. For the total year profit dropped 45% to the lowest level since 2001. Annual profit fell to 94.7 billion