Goldman Sachs has been searching for years for an investment-banking equivalent to the vaunted risk-management system its traders use. It may have just found it. This week, the company agreed to buy ClearFactr, a one-person startup that makes a cloud-based program similar to Microsoft Excel, according to a note the company sent to clients this […] Read more

Siemens Power Generation Services, a unit of Germany’s Siemens AG , is looking to Asian markets to grow its power generation business, the company’s Chief Executive Officer Tim Holt said on Tuesday at a conference in Singapore. “There are a couple of IPP (independent power producer) projects especially in the ASEAN region, clearly there are […] Read more

This edition of Business Planet travels to Edinburgh in Scotland to discover a Enterprise Europe Network success story. The EEN is an organization that helps small and medium-sized companies develop. Jane Watters is from Scottish Enterprise, and is in charge of Enterprise Europe Network here. “I see the real strength of Enterprise Europe Network as […] Read more

Creditors of Essar Steel India Ltd <ESRG.UL> have approved a joint offer by ArcelorMittal SA <MT.AS> and Japan’s Nippon Steel & Sumitomo Metal Corp <5401.T> as the final bid for the debt-laden asset, ArcelorMittal said in a statement on Friday. This paves the way for the two companies to take control of the 10 million […] Read more

The stock market drop in October has been unsettling for anyone with a portfolio, particularly after a 3 percent plunge Wednesday that wiped out the year’s gains. Could this be the beginning of a larger crash, or a recession? Well sure, it could. But even before accounting for the moderate rebound in markets Thursday morning, […] Read more

Gourmet Burger Kitchen has earmarked 17 stores for closure as part of a company voluntary arrangement aimed at turning the troubled business around. The company, owned by South African group Famous Brands, previously announced it would take a £47.2m hit due to sustained under-performance, and has recorded heavy losses in the past. Famous Brands brought in […] Read more

Retail billionaire Sir Philip Green has been named in Parliament as the businessman accused of sexual harassment. Lord Peter Hain, who identified him in the Lords, said it was his duty to name him, given the “serious and repeated” nature of the allegations. On Tuesday, the Telegraph ran an article accusing an unnamed businessman of […] Read more