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Articles by Staff Writer

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Ubisoft acquires Ivory Tower, the French developer of The Crew

Games developer, Ubisoft, purchased the Ivory Tower, the French company that developed the popular racing game, The Crew.

Oct 06, 2015 9:06 AM EDT

These 10 cities consider short work hours as source of pride

Longer hours of work mean more fatigue and more stress. Who would ever want a longer period of work anyways? If you want a shorter period of work, 1 of these 10 cities might be the place for you.

Oct 06, 2015 5:25 AM EDT

Tax hike, cost reduction in Greece budget for 2016

Alexis Tsipras-led government has submitted a draft budget for 2016 to the Greece Parliament, The draft proposes stringent measures to reform the ailing economy. The measures include a tax hike, reduction in costs, slashing down in government spending, attracting foreign investment, etc.

Oct 06, 2015 5:07 AM EDT

Samsung may tap $55B cash reserves for share buyback

South Korean electronics major Samsung may take up share buyback to boost the share price, which's suffering tis worst loss of streak since December 1983. The global electronics major may use its huge $55-billion cash reserves for share buyback.

Oct 06, 2015 5:05 AM EDT

Wal-Mart cuts 450 jobs at headquarters

Headquarters of Wal-Mart in Bentonville is laying off employees in keeping up with the pace of the customers' shopping behavior. The retail company's goal is to push its e-Commerce and be as quick to cater to customer needs and complaints to name a few.

Oct 06, 2015 3:32 AM EDT

Bill Gross sees further 10% drop in US stocks

Bill Gross, a bond manager and co-founder of Pimco, forecasts further 10% drop in the US markets as flat corporate profits, oil price drop, slump in commodities prices, uncertainty in global economy will continue to impact the markets in a negative way.

Oct 06, 2015 1:23 AM EDT

American Apparel filed for bankruptcy protection; restructures $300M debt

American Apparel will restructure its debts upon filing for bankruptcy protection. CEO Paula Schneider said they plan the restructure for the next six months.

Oct 06, 2015 1:21 AM EDT

Growth in U.S. employment could make Fed hike interest rate

It's been a while since the last job rate increased and now Federal Reserve is eyeing a raise on interest rate. September records more jobs and is a sign that the U.S. economy is improving.

Oct 06, 2015 1:20 AM EDT

Shell assures investors: Dividends will be protected

Shell's CEO announce that the company will not cut its dividend payment this year even though the oil price continues to go low. The announcement was made in an email statement by Ben Van Beurden himself.

Oct 05, 2015 11:52 PM EDT

World Bank sees global poverty to slip below 10% for first time

The poverty percentage in the world population is poised to drop below 10 percent in 2015 for the first time, forecasts World Bank, which has raised the benchmark of international poverty line to $1.90per day from $1.25 a day in 2005 after taking Purchasing Power Parity (PPP) into consideration.

Oct 05, 2015 9:41 PM EDT

Volkswagen calls for an extraordinary board meeting over emission tests issue; will appoint Poetsch as the new head

Volkswagen board will have an extraordinary meeting on Wednesday. Along with that, Hans Dieter Poetsch will be appointed as the new head of the supervisory board.

Oct 05, 2015 9:34 PM EDT

Breakthrough in Trans Pacific trade talks

12 countries including the US, Australia, Japan, New Zealand seem to have reached an agreement on Trans Pacific Partnership (TPP) after the prolonged negotiations over five years. It's learnt that agreeing on monopoly on new heathcare drugs is a major breakthrough in arriving the deal. Australis inistited on five year protection on new healthcare drugs, while the US is keen on longer term of monopoly. Sources say that they arrived on a balancing act by adopting a two-way track in drug pricing mechanism.

Oct 05, 2015 9:29 PM EDT

Will China impose a punitive tax on forex trades?

A senior Chinese official in an official magazine China Finance suggest the Chinese government to impose punitive leve or Tobin tax on forex transactions in Yuan. This suggestion has been made to reduce trading in the Chinese currency thus arresting the fall in forex reserves. Chinese government is offloading huge amounts of US dollars to supprt the falling Yuan ever since its devaluation on 11 August.

Oct 05, 2015 7:10 PM EDT

Global regulators hike capital requirement for big insurers by 10%

The International Association of Insurance Supervisors had agreed to introduce new regulation for insurance company. The regulation will see major insurance companies need to increase their average capital to almost 10 percent.

Oct 05, 2015 8:38 AM EDT

What is wrong with Peeple: New app faces strong resistance

The people-rating app, Peeple, is about to be launched in November 1. But a lot of people wanted to halt its launching because they found it damaging to people's privacy.

Oct 05, 2015 4:36 AM EDT

Apple's price target of $200 is overstated by 25%, says analyst

Brian White, an analyst at Drexel Hamilton, has set a price target of $200 for Apple stock in his latest initiation report. This is considered to be more aggressive when compared with market projections.

Oct 05, 2015 4:33 AM EDT

Users can now use a video as profile photo on Facebook

The newest in Facebook is already here and is taking UK and California by storm. If you are already bored with your old profile picture, just delete it and replace it with a profile video.

Oct 05, 2015 4:29 AM EDT

Falling shares will close Dunkin’ Donuts 100 U.S. stores

Who would not love a steaming hot coffee partnered with donuts in the morning? Surely everyone knows and loves Dunkin’ Donuts. Unfortunately, it has to close 100 of its U.S. stores due to collapsing shares.

Oct 05, 2015 2:37 AM EDT

Boeing 777 propels Emirates Airlines' growth

Dubai-based Emirates Airlines is banking on wide-body aircraft for long-haul flight operations enabling it to become a global hub in the Middle East Region. Emirates is the world's biggest operator of Boeing 777 and Airbus A380 aircraft. The total aircraft fleet of Emirates includes 50 Airbus A380s and 100 Boeing 777 aircraft, which are playing a vital role in the success of the Dubai-based airline.

Oct 05, 2015 2:27 AM EDT

Rolls-Royce is planning to cut more jobs in the Marine Division

Rolls-Royce is expected to cut around 400 jobs in its Scandinavian marine division. The company is expected to cut jobs in the management sector only.

Oct 05, 2015 2:12 AM EDT

HP split approved by the board, will reduce 30,000 jobs

HP will be separated into two firms, the Hewlet Packard Enterprise and HP Inc. Prior to the reorganization, the company is set to cut 30, 000 jobs.

Oct 04, 2015 10:12 PM EDT

Entrepreneurs' Financial Checklist

Being financial literate is important for entrepreneurs as it will either make or bend the business. Hence, it is a wise idea for entrepreneurs to create a financial checklist to ensure that they are not missing on anything that could cause a financial drawback.

Oct 04, 2015 10:06 PM EDT

No role of nationality in antitrust probe: EU antitrust chief

European Competition Commissioner (ECC) Margrethe Vestager has become a target of the US media for ongoing cases against Google, Apple, Amazon and Starbucks. European antitrust chief Vestager clarifies that there's no role of nationality of companies in antitrust cases. Not only Amercian companies, but also several frims from different nations are facing charges in anticompetition, cartelling cases, etc.

Oct 04, 2015 10:03 PM EDT

Air France negotiation over pilot unions failed; 2,900 jobs at stake

Air France will cut nearly 3,000 jobs starting Monday. Reports say this is due to the airline's proposal that was rejected by the pilot unions.

Oct 04, 2015 9:55 PM EDT

Major French telecom groups are applying for 4G mobile spectrum auction

Four major French telecom groups had submitted their application to enter the low-spectrum airwaves bidding set to be held this November. The auction will see the government raising a substantial amount from the tangible assets.

Oct 04, 2015 9:34 PM EDT

Amazon bans sale of Apple, Google streaming devices

Amazon will no longer sell Apple TV and Google Chromecast by the end of the month. While the online retailer says it is meant to avoid customer confusion, analysts see it as an attempt to favor its own products.

Oct 04, 2015 9:08 PM EDT

Petrobras price target revised, lowered

Brazilian oil and gas company Petrobras' price estimate has been revised lower amid continuous oil price drop, low net realizations per barrel in upstream and downstream operations and S&P downgrade are impacting the company in a negative way.

Oct 04, 2015 9:01 PM EDT

Exxon Mobil is fined $2.63 million

The court had ruled out that Exxon Mobil is required to pay a total of $2.63 million in fine. The company is found guilty of committing several offences according to the final report released by the Pipeline and Hazardous Safety Administration.

Oct 04, 2015 7:11 PM EDT

Google self-driving car prototype unveiled; execs are listing partners

Google invited some media personnel a ride to the driverless car. The executives said they are currently listing partners to build the car.

Oct 04, 2015 7:07 PM EDT

Microsoft and Google end law dispute, to work together

Microsoft and Google had agreed to drop their lawsuit accusation for an undisclosed amount. The five years bitter court rival saw both companies agreed to work together regarding intellectual property and they even form a coalition with other tech giants.

Oct 04, 2015 7:02 PM EDT

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