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 05:05 AM EDT

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 05:03 AM EDT

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 04:50 AM EDT

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 04:49 AM EDT

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 04:49 AM EDT

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 01:37 AM EDT

Comcast Corp. is acquiring a majority stake in Universal Studios Japan Co. for $1.5 billion. This is a milestone for the US cable company, which has been seeking opportunities for global growth, after failing to buy Time Warner Cable Inc. in April.

Sep 29, 2015 06:37 PM EDT

Microsoft Corporation's Chinese JV has been fined $31,430 over antitrust rules related to Xbox marketing measures. However, Redmond-based IT major escaped from a major penalty as the Chinese government's probe didn't find any major fault on Microsoft pertaining to breaching antitrust rules.

Sep 29, 2015 06:32 PM EDT

The Amazon's Kindle Fire HD 10 comes with a lower price tag and a wider screen. Although it is considered as good value for money at first glance, however other features provided in the gadget failed to impress new users.

Sep 29, 2015 06:24 PM EDT

Athletic apparel makers Nike and Under Armour have been doing very well on the Wall Street this year so far. Under Armours' stock rose 50 percent and Nike gained 27 percent of year-to-date (YTD) gains on the Wall Street.

Sep 29, 2015 09:31 AM EDT

China released new data on declining companies profit on late Monday prompt fear among investors causing a significant selling action in early trade. This, together with a sharp drop in the Wall Street on Monday fuels concern among investors.

Sep 29, 2015 09:29 AM EDT

Microsoft Corporation will announce its financial results based on three operating segment-wise business. These three new headers-based quarter results will be effective from next quarter results scheduled to be announced on 22 October.

Sep 29, 2015 09:27 AM EDT

The Dallas-based Energy Transfer Equity is taking over Williams Cos in a $32.6B deal including cash and other options. The deal is expected to make the combined entity one of the global top-five players in the energy sector as Williams Cos' huge 100,000 miles network of pipelines will further strengthen Energy Transfer Equity.

Sep 29, 2015 02:37 AM EDT

After its previous unsuccessful efforts in the smart phone business, Panasonic is making a comeback. It's planning to push sales volume by three times in next three years to reach $2-billion revenues target. Panasonic has decided to make India as its base for expanding in Africa, Middle East and South Asian markets.

Sep 29, 2015 02:34 AM EDT

NASA is redesigning the Orion heat shield for its EM-1 space mission in 2018. They came up with a new strategy that will save costs and reduce manufacturing time.

Sep 29, 2015 02:26 AM EDT