IBM is to pay Globalfoundries $1.5bn to offload its loss-making semiconductor unit

IBM cuts forecasts after 4% fall in revenue

16.57 IBM has said it no longer expected to achieve its 2015 operating earnings target of at least $20 per share after weak client spending resulted in an unexpected fall in quarterly earnings and revenue.

Adidas bought Reebok in 2005 for $3.8bn

Investor group to launch $2.2bn bid for Reebok

07.52 An investor group that includes Jynwel Capital and funds affiliated with the Abu Dhabi government is launching a bid to buy Reebok from Adidas for about $2.2bn, the Wall Street Journal has reported.

Electrolux bought General Electrics' appliances business with a view to expanding US sales

Electrolux sees Q3 profits jump 42%

08.19 Swedish electrical appliance maker Electrolux reported its third-quarter net profit soared 42% to 933m krona (€102m) thanks to a cost-cutting programme started at the end of last year.

Morning business news - October 20

Morning business news - October 20

09.42 There was a 40% increase in construction project commencements in the first 8 months of this year compared to the same period of last year, according to the group Link2Plans.

Today in the press

Today in the press

09.07 Irish and British workers employed by an Irish company in Qatar claim that their freedom to leave the Arab country is being restricted because of their employer's policies, reports The Irish Times.

ECB Governing Council member Ewald Nowotny says there is no emergency in euro zone

ECB has leeway for more action - Nowotny

17 Oct The European Central Bank has room for more action to address the euro zone's economic problems but does not need emergency measures, ECB Governing Council member Ewald Nowotny said.

Chiquita again recommends shareholders back a tie-up with Fyffes

Chiquita rejects latest Cutrale-Safra offer

17 Oct The board of Chiquita Brands International said last night that a takeover bid by Brazilian juice maker Grupo Cutrale and investment firm Safra Group was "inadequate".

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IBM is to pay Globalfoundries $1.5bn to offload its loss-making semiconductor unit

IBM cuts forecasts after 4% fall in revenue

16.57 IBM has said it no longer expected to achieve its 2015 operating earnings target of at least $20 per share after weak client spending resulted in an unexpected fall in quarterly earnings and revenue.