Profitloss Centerstage Events

Grabar-Kitarović to become the first female president of Croatia took centerstage on Sunday, 11 January, 2015 among all major events across the globe, and remains the highlight of this week's list of center stage events.
Picture Courtesy: Kolinda Grabar-Kitarović

Centerstage events of week 1

American luxury fashion company Coach, Inc. agrees to acquire shoe...

American luxury fashion company Coach, Inc. agrees to acquire shoe brand Stuart Weitzman for $574 million. Coach aims to expand its reach and diversify its portfolio through this rare acquisition. The deal includes a cash payment of $530 million to Sycamore Partners, the private-equity firm that owns Stuart Weitzman, along with contingent payments of up to $44 million if certain revenue targets are met in the next three years.

Monday, 5 January, 2015

Northeastern University scientists publish findings in Nature revealing the discovery...

Northeastern University scientists publish findings in Nature revealing the discovery of a new class of antibiotic that can effectively kill antibiotic-resistant bacteria. The antibiotic is derived from a soil bacterium found in Maine. While human testing is pending, early indications suggest that resistance to this antibiotic may develop more slowly than to existing treatments, offering hope in the fight against drug-resistant pathogens.

Tuesday, 6 January, 2015

Coca-Cola announces plans to lay off approximately 1,600 to 1,800...

Coca-Cola announces plans to lay off approximately 1,600 to 1,800 employees globally in the coming months as part of its cost-cutting initiative. The beverage giant aims to reduce costs by $3 billion, streamlining and simplifying its operating model. The announcement causes a rise in Coca-Cola's shares. The company, which currently employs around 130,000 people worldwide, assures affected workers of fair and compassionate treatment during the process.

Wednesday, 7 January, 2015

Mahinda Rajapaksa concedes defeat to Maithripala Sirisena. In the presidential...

Mahinda Rajapaksa concedes defeat to Maithripala Sirisena. In the presidential election of Sri Lanka, incumbent President Rajapaksa accepts the victory of his opponent Sirisena, marking a peaceful transition of power.

Thursday, 8 January, 2015

Chinese e-commerce giant Alibaba Group Holding Ltd. and its financial-services...

Chinese e-commerce giant Alibaba Group Holding Ltd. and its financial-services affiliate plan to invest approximately $575 million in India's One97 Communications Ltd. The investment will target One97's online-payment and marketplace businesses. If finalized, this deal would grant Alibaba and Zhejiang Ant Small & Micro Financial Services Group a combined 30% stake in One97, valuing the Indian company at over $2 billion.

Friday, 9 January, 2015

Kolinda Grabar-Kitarović from the Croatian Democratic Union narrowly defeats incumbent...

Kolinda Grabar-Kitarović from the Croatian Democratic Union narrowly defeats incumbent President Ivo Josipović in Croatia's presidential election. Grabar-Kitarović becomes the first female president of Croatia, taking office on February 18, 2015. At 46 years old, she also holds the distinction of being the youngest person ever elected to the presidency since Croatia's independence in 1991.

Saturday, 10 January, 2015

Venezuela secures "several billion dollars" in financing from Qatari banks...

Venezuela secures "several billion dollars" in financing from Qatari banks to help counter the impact of falling oil prices, according to President Nicolás Maduro. The financial support aims to provide relief amid the economic challenges faced by the South American oil-exporting nation. Maduro emphasizes that the funding will help mitigate the effects of the oil price decline on Venezuela's economy.

Sunday, 11 January, 2015