August 25, 2014 9:34 am
The PlayStation Network of Sony Corp. was back online today after a cyber attack overloaded it, which resulted in taking it down over the weekend. No user details were accessed or stolen, the company said. “The PlayStation Network and Sony Entertainment Network have been impacted by an attempt to overwhelm our network with artificially high […]
Read moreAugust 25, 2014 8:57 am
Burger King, the second-biggest burger chain in the US, made a joint statement with Tim Hortons, Canadas largest fast food service, to reveal that the two companies are negotiating a merger, with the former buying a stake in the latter. “The new company would be the world’s third-largest quick service restaurant company, with approximately $22bn […]
Read moreAugust 25, 2014 7:40 am
Roche Holding AG, the biggest cancer drugs manufacturer in the world, announced an agreement was reached acquire InterMune Inc. for $8.3 billion, as the Swiss pharmaceutical giant seeks to further expand its portfolio. “It’s a perfect fit from a portfolio point of view,” Severin Schwan, CEO of Roche, said. The deal “will allow Roche to […]
Read moreAugust 22, 2014 10:06 am
The video-game chain GameStop Corp. posted quarterly profit that surpassed estimates, bumping shares higher in afterhours trade. Results were boosted by next-gen consoles sales, which helped the companys hardware sales. According to the companys statement, its net income increased more than two times on an annual basis to $24.6 million, or $0.22 per share, beating […]
Read moreAugust 22, 2014 9:45 am
Salesforce.com Inc., the largest customer-management software maker, posted quarterly earnings today, to reveal a massive increase in revenue and an upgrade to its guidance for future results. Revenue for the second quarter of the 2015 fiscal year, ended July 31 2014, totaled $1.32 billion, up 37.5% on an annual basis, while the net result of […]
Read moreAugust 22, 2014 8:13 am
Home Depot Inc., the biggest home improvement retailer in the world, revealed in an official statement that it has named Craig Menear to succeed Frank Blake as Chief Executive Officer, in effect November 1, while Blake will remain chairman. “It won’t be a difficult transition. Because of the knowledge [Menear] has accumulated with his time […]
Read moreAugust 21, 2014 2:27 pm
Infineon Technologies AG, Germanys largest chip manufacturer, announced that it reached agreement over the acquisition of LA-based International Rectifier Corp. for an estimated $3 billion. The Chief Executive Officer of Infineon Technologies AG Mr. Reinhard Ploss described the deal as “a unique opportunity”. “With their great knowledge of specific customer needs and their application understanding, […]
Read moreAugust 21, 2014 1:36 pm
Gold and silver futures were deeper in the red during midday trade in Europe today. The precious metals were pressured by a more hawkish Fed seen in the July meeting minutes. Meanwhile, copper was lower after Chinese factories logged sluggish growth. Gold futures for December delivery traded at $1 276.5 per troy ounce, up 1.44% […]
Read moreAugust 21, 2014 12:32 pm
United Parcel Service Inc., the biggest package-shipping company in the world, said customers personal and payment data has been exposed to risk due a computer security breach at some of its retail outlets in the period between January 20 and August 11 of this year. “I understand this type of incident can be disruptive and […]
Read moreAugust 21, 2014 9:46 am
According to people with knowledge of the matter, Bank of America will soon announce it has agreed to a $17 billion settlement with the U.S. Department of Justice over the banks mortgage securities debacle. The agreement is to put an end to the investigation against Bank of America. The bank was accused of misleading buyers […]
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