Companies/Industries

Company News: King Digital, Peugeot, Dongfeng Motor, Foreign Banks, Coca-Cola, Volkswagen


• Investors finally got a closer look at the sweet business model behind Candy Crush, as mobile-game maker King Digital Entertainment filed paperwork for an initial public offering. The Irish company says its phone and tablet apps have been downloaded about 500 million times and roughly 124 million people play its games every day. Still, revenue in the fourth quarter slid 3.1 percent.

• PSA Peugeot Citroën (UG:FP) promised a major overhaul after announcing a $4.1 billion rescue from the French government and China-based Dongfeng Motor (489:HK). In exchange for the emergency assistance, the carmaker gave up a 28 percent stake, ending more than a century of control by the Peugeot family. The company is the second-largest automobile manufacturer in Europe, where buying has slowed.

• The Federal Reserve has built a protective barrier for U.S. banks, raising capital requirements for their foreign counterparts. New rules, to take effect in July 2016, will hold companies such as Deutsche Bank (DB) and Barclays (BCS) to the same capital levels as their U.S. competitors.

• Soda sales continued to go flat. Coca-Cola (KO) reported that soft-drink sales fell 3 percent in North America and were little changed in Latin America in the most recent quarter. Coke promised to beef up marketing to address consumer health concerns.

• Volkswagen (VOW:GR) moved ahead with plans for a works council at its Tennessee plant, after employees at the factory narrowly voted down a proposal to join the United Auto Workers union. The UAW is looking for votes at a Daimler (DAI:GR) factory in Alabama.

Kyle-stock-190
Stock is an associate editor for Businessweek.com. Twitter: @kylestock

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Companies Mentioned

  • UG:FP
    (Peugeot SA)
    • $10.76 EUR
    • 0.12
    • 1.16%
  • 489:HK
    (Dongfeng Motor Group Co Ltd)
    • $13.86 HKD
    • 0.02
    • 0.14%
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