Microsoft to Lay Off 18,000 Staff
Microsoft Chief Executive Officer Satya Nadella commenced one of the largest job cuts in technology industry on Thursday, aiming to restructure the aging personal computer giant into an agile competitor …
Read MoreBusiness News
BRICKS Launches Bank to Neutralize Western Control of Global Financial SystemÂ
Leaders of BRICKS, a block constituted by emerging markets, set up a $100 billion development bank and a currency reserve on Tuesday in a solid move aimed at redefining the …
Read More
Citigroup Agrees to Settle a $7 Billion US Mortgage Investigation
Citigroup Inc. has reached a deal with the US Justice Department to pay $7 billion to settle accusations it misled investors regarding shoddy mortgage-backed securities towards the financial meltdown. The …
Read More
Goldman Quarterly Profits Surpass ForecastsÂ
Goldman Sachs Group Inc. posted an unexpected surge in second-quarter profit as fixed-income earnings dropped less many analysts had predicted and investment-banking fees advanced. Net income jumped 5% to $2.04 …
Read More
US Tobacco Firm Reynolds in Negotiation to Acquire Competitor Lorillard
Reynolds American Inc., US cigarette maker, is in discussions to buy rival Lorillard Inc., in a deal worth billions of dollars that would redefine one of the biggest and most lucrative …
Read More
AbbVie Raises Offer for Pharmaceutical Shire to $51 Billion
Drugmaker AbbVie hiked its overture for Shire to 30.1 billion pounds today, with a view to convincing its unwilling target after three of its previous bids were declined. The latest …
Read More
Emirates Airline Puts Pen to Paper on Order for 150 Boeing 777X Jets
Emirates Airline of Dubai and Boeing Co. on Wednesday announced finalization of an order for 150 Boeing 777X, which is a Boeing’s reconditioned version of its wide-bodied plane, in an …
Read More
US ADM to Buy Wild Flavors for $3 Billion
US-based Archer Daniels Midland has clinched a deal to acquire Swiss-German processor of natural ingredient Wild Flavors for 2.3 billion euros or $3 billion to make headway into the flavoring …
Read More
Daimler Anticipates 2014 Sales to Beat Audi, BMW in China
Daimler, a German automaker, anticipates that sales of its Mercedes-Benz brand to outdo competitors Audi and BMW by number of units sold this year in China as its new approach …
Read More
Deutsche Bank Nets $11.6 Billion Cap Rise
The biggest bank in Germany, Deutsche Bank said it had finalized a capital boost plan it announced on May 18 in compliance with new EU regulations that require lenders to …
Read More