Chris Payne out as Tinder CEO after only five months; Sean Rad is taking back the position
Christopher Payne is out as Tinder CEO. Cofounder Sean Rad will take over and Greg Blatt is appointed as Tinder Executive Chairman.
Aug 13, 2015 4:42 AM EDT
Funding Circle lines up $1B funding for small business lending globally
Funding Circle is prodiving hassle-free funding to small business units at low cost of borrowing globally. It also offers risk management solutions to the entrepreeurs. It has already surpassed $1-bn mark in lending and decided to lend 1-bn funds to small businesses.
Legionnaire's Bacteria Forced GSK to Stop North Carolina Plant Operation
GlaxoSmithKline closes it North Carolina plant due to a Legionella bacteria's discovery in the cooling tanks of Zebulon plant after routine inspections. It will resume operation after the problem has been solved and confirms no expectation of a disrupt in medicine supply.
iRobot's robotic lawn mower gets U.S. regulatory approval, brings grass cutting to new heights
iRobot Corp Inc recently got approval from the Federal Communications Commission to manufacture and sell their new automated lawn mower.
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Ford Targets Emerging Markets with Frugal India Build, In a Bid to Compete With its Rivals in 5th Largest Auto Market
Using India-based engineering, Ford aims to penetrate the India market in a bid to compete against its Asian rival auto companies that are outselling them in the arena.
Aug 13, 2015 4:16 AM EDT
Kraft Heinz terminates 2,500 jobs in the U.S. and Canada to save costs
Kraft Heinz is cutting 2,500 jobs around the United States and Canada. Seven hundred of it will include its labor force in Northfield, Illinois.
Aug 13, 2015 4:14 AM EDT
US banks lead the equity trading revenues in Q2
Morgan Stanely, JPMorgan Chase and Goldman Sachs account for 40% market share in equities trading. Many US banks registered encouraging growth in trading revenues.
Aug 13, 2015 4:10 AM EDT
Continued oil price crash reached lowest level
U.S. crude oil price falls down to its level in more than six years. Over-supply of crude seen as one of the reasons for the oil's low price including the China's yuan devaluation. While most crude oil consumers enjoy the benefits of getting lower fuel, oil industries suffer from low profits forcing them to cut on expenditures and employment.
Aug 13, 2015 4:06 AM EDT
Starbucks and 28 other US companies to create jobs for disconnected youth
More than two dozen companies in the US join Starbucks in assuring Americans to create 100,000 jobs for the unemployed youth by 2018.
Aug 13, 2015 3:46 AM EDT
General Electric to sell Healthcare Financial Services biz to Capital One for $9bn
GE has decided to sell its healthcare financial business unit to Capital One for $9bn. This is part of its business plan to offload $100-bn worth assets by 2015 end. GE to remain focused on its core business operations.
Aug 13, 2015 3:03 AM EDT
European banks lead other foreign banks' excess reserves at Fed, valued at $1 trillion
Foreign banks prefer to park their excess funds with the US Fed. The unprecedented rise of excess reserves at US Fed has become a cause of concern for the government.
Aug 13, 2015 2:54 AM EDT
China devalues Yuan, Sends Shockwave to Global Market, and Bringing stocks down
China devalued Yuan for the second time in a row, shocking the world market, bringing stocks, commodities, and currencies down.
Aug 13, 2015 2:47 AM EDT
Verizon develops technology making Internet 1,000 times faster
Good news for movie buffs. Verizon has successfully tested a new broadband technology allowing users to download a movie in a matter of seconds.
Aug 13, 2015 2:43 AM EDT
Analysts bet on Macy's, Alibaba, Cisco and News Corp; quarter earnings to be announced
Macy's, News Corp, Alibaba and Cisco are scheduled to report their quarterly revenue on Wednesday. Analysts are eyeing the movement of four companies in the stock market.
Aug 13, 2015 2:00 AM EDT
Judge Rules NYC Responsible Banking Act Unconstitutional as it Conflicts with Existing Federal and State Statutes
Responsible Banking Act that sought to be socially responsible to their low-income neighborhoods was deemed unconstitutional by the federal court.
Aug 12, 2015 11:03 PM EDT
Ford Motor Company moves production of F-650 and F-750 truck from Mexico to Ohio
Ford is moving its production of F-650 and F-750 commercial truck from Mexico to Ohio to save expenses.
Aug 12, 2015 10:54 PM EDT
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