April 14, 2014 11:17 am
According to a person with knowledge of the matter, who asked not to be identified because the lay-offs are confidential, Citigroup Inc., the third-largest bank in the U.S., cut from 200 to 300 jobs in its stock and bond trades unit in an attempt to reduce its costs amid a slump. One of the representatives […]
Read moreApril 14, 2014 11:15 am
Peugeot SA, the second-largest auto manufacturer by volume in Europe, revealed that it will cut about a half of its product catalogue. The company also plans to bring back sustainable profitability of its automotive unit after losing more than 7 billion euros in 2012 and 2013 by turning the DS vehicles manufactured by its Citroen […]
Read moreApril 11, 2014 1:39 pm
The Heartbleed Web-security bug, which affected the hardware, connecting both homes and businesses to the Internet turned out to be more serious than initially expected. The encryption bug has been recently discovered by researchers at Google Inc. and officially disclosed on Monday this week. Two of the largest network equipment makers in the world – […]
Read moreApril 11, 2014 12:50 pm
Activist investor Carl Icahn and eBay Inc. started breaking the ice about a month ago over a dinner at the apartment of Icahn in New York City, which was attended by the Chief Executive Officer of eBay – Mr. John Donahoe. They negotiated over the proposal of Icahn for a spin-off of the companys PayPal […]
Read moreApril 11, 2014 12:13 pm
Japanese electronics and entertainment company Sony Corp. made an official statement today, asking its customers to stop using its Vaio Fit 11A notebook computers as soon as possible due to a battery defect. The company explained there is a risk of batteries overheating that affects the DC jack inlet or LCD surrounding area. Sony Corp. […]
Read moreApril 11, 2014 9:29 am
Zynga Inc. made an official statement, announcing that it appointed Mr. David Lee, who is to take the position of Chief Financial Officer and Chief Accounting Officer of the company, replacing Mr. Mark Vranesh, who leaves after a six-year cooperation. The change in the executive ranks of Zynga Inc. comes as one of the steps […]
Read moreApril 11, 2014 8:50 am
General Motors Co. made an official statement, revealing that it is charged 1.3 billion dollars for the cost of recall-related repairs during the financial quarter that was through on March 31st. This makes the situation for the company even tougher, as it may post its first quarterly loss since 2009. Before the recalls, the company […]
Read moreApril 11, 2014 8:22 am
Amazon.com Inc., the biggest online retailer globally, made a filing with the Securities and Exchange Commission in the U.S., saying that Jeff Bezos, who is the founder and the Chief Executive Officer of the company, was paid a total of 1.68 million dollars in 2013. The payment was not changed for a second straight year […]
Read moreApril 10, 2014 1:55 pm
The largest clothing retailer in Asia – Fast Retailing Co. – made an official statement today, revealing that it reduced its initial projection for its annual profit due to increasing costs and decreasing demand. The company posted a net profit decline, which amounted to 1.4% during the first half of its financial year. Fast Retailing […]
Read moreApril 10, 2014 12:10 pm
Vodafone Group Plc made an official announcement, that it has reached an agreement with Piramal Enterprises Ltd to buy out Piramals stake in its mobile-phone unit in India. The deal equals 11% of Vodafone India and is estimated to 89 billion rupees (1.48 billion dollars). According to Piramal, the company is valued at 1,960 rupees […]
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