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Chesapeake Energy Laid off workers, oil price as main reason

Chesapeake Energy joins other energy company such as Haliburton and Schlumberger by laying off workers to stay competitive as oil price getting lower. This is the latest move by the company after it had cut down on the spending and operational cost.

Sep 30, 2015 9:27 PM EDT


Alibaba Group Holding stock drops for 4 months now

Alibaba Group Holdings share continued to skid on New York Stock Exchane for four months in a row. The Chinese economy slowdown, sluggishness in getting new customers and increased market competition are impacting the e-Commerce major. Analysts see uncertainty ahead of the company.

Sep 30, 2015 9:17 PM EDT


Evernote cuts down 47 jobs, closes three global offices

Evernote Corporation CEO Chris O'Neill announced cutting down 47 of its employees. The company shuts down its offices in Moscow, Singapore and Taiwan as well.

Sep 30, 2015 9:01 PM EDT


ComScore to buy Rentrak for $771mn

Data analytics provider ComScore has announced that it would buy Rentrak Corp for $771million in an all stock-deal, which is expected to close in early next year. The combined entity will become a major force in advertisement and television commercials as it sets new standards in measurement system.

Sep 30, 2015 8:57 PM EDT


Volkswagen to fix deceptive engine software in October

Engulfed in an emission scandal, Volkswagen has assured customers that it would refit the vehicles with new enivronment-compliant software in October. The new chief executive has set up a team of experts on action plan and Volkswagen will submit a proposal on technical solutions to regulators and environmental authorities for approval in October.

Sep 30, 2015 8:41 PM EDT


Ford's 2017 Super Duty trucks lighter but stronger and more modern

Ford has unveiled its new addition of Super Duty trucks built it with sturdier and reinforced aluminum bodies. Aluminum body makes it lighter than its predecessors but is stronger and built to last against damages and dents.

Sep 30, 2015 5:10 AM EDT


Founder and CEO Ralph Lauren steps down; appoints Stefan Larsson as successor

Founder-designer Ralph Lauren quit the role of the Ralph Lauren Corporation's CEO. He appoints Stefan Larsson for the position. Lauren will still remain as chief creative officer and executive chairman.

Sep 30, 2015 5:05 AM EDT


Yahoo to spin off Alibaba stake even without tax-free guarantee

Yahoo is pushing ahead with its plan to spin off its stake in Alibaba despite lacking a guarantee from the IRS that it would be tax-free. The Web search company has been facing mounting pressure to spin off its Alibaba stake, whose value has almost halved this year.

Sep 30, 2015 5:03 AM EDT


Castro knocks out U.S. trade embargo at UN

For the first time Cuban president, Raul Castro spoke and addressed UN officials to help lift the embargo placed to his country by United States since 1960. He stressed that is the main obstacle for Cuba's progress.

Sep 30, 2015 4:50 AM EDT


Online lender Avant Inc raises $659mn from JPMorgan, PE firms

Online lender Avant Inc has raised $325mn in a latest round of funding from PE firms including JPMorgan & Chase. The start-up will use the mobilized funds to expand globally. It offers loans to customers, who're below price consumers. The interest rate varies from 9% to 36%.

Sep 30, 2015 4:49 AM EDT


Barrick Gold Corp buys back part of outstanding debt

Barrick Gold Corp has taken up a debt reduction program. The world's largest bullion producer is aiming to reduced debt by $3 billion this year and $2 billion in 2015. The drop in gold prices is squeezing the margins of the miner. Moody's has lowered its credit rating.

Sep 30, 2015 4:49 AM EDT


PlayStation is the third most intimate brand for millennials

PlayStation is on the third spot as the most intimate brands for millennials, according to MBLM's Brand Intimacy 2015 Report. It will be published on October 6.

Sep 30, 2015 1:37 AM EDT


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