By imposing steep fines on its drivers Chinese-ruled Macau has ensured that the company’s services comes to an end in the region. In what has been described to be a blow to embattled ride services giant Uber Technologies Inc, the… Read More ›
Creativity
Takata’s bankruptcy creating legal history
Takata’s bankruptcy proceedings on novel ground given the number of parties involved and the quantum of the recall. With last week’s global recall of Takata Corp’s defective air bags being widened, the bigger worry, as per legal experts, is the… Read More ›
A $2 billion private hedge fund is now worth pennies
As per WSJ’s report, Houston-based EnerVest Ltd stands out because only 7 private-equity funds worth more than $1 billion have ever lost money for investors. As per a report filed by the Wall Street Journal, a number of lenders, including… Read More ›
Wells Fargo divesting businesses following fake account scandal
Wells Fargo is restructuring itself to make it leaner and more efficient. The Financial Times has reported citing Wells Fargo’s CFO, John Shrewberry as saying, it will be spinning off a number of its products “worth hundreds of millions of… Read More ›
Michel Barnier and David Davis officialy kickstart Brexit negotiations today
While Barnier and Davies thrash out the larger issues, working groups on either side will focus on issues, including, recovering Britain’s budgetary dues to the EU, citizen’s rights, and other tidbits. On Monday, when Britain’s Brexit Secretary David Davis meets… Read More ›
Twitter hires ex-Goldman Sachs director as its Chief Financial Officer
There is a renewed investor interest in the company despite its lagging behind its peers in terms of size and profitability. In a significant development, San Francisco-based Twitter Inc has a former managing director of Goldman Sachs, who is also… Read More ›
Toyota launches venture capital fund for AI startups
Toyota’s lucrative venture has potential but to bloom it needs an ecosystem that provides advisors with product expertise and genuine corporate customers. Toyota has become the latest Fortune 500 company to launch an AI focused capital venture fund. During the… Read More ›
Symantec exploring sale of its web certification business: Sources
Symantec is exploring to divest its web certification business which generates $400 million in annual turnover. According to sources familiar with the matter at hand, U.S. cybersecurity company Symantec Corp is considering to sell its website certification business in a… Read More ›
Activist investor Daniel Loeb’s Third Point pushing Nestle to improve productivity
By sharing his views publicly with Nestle, Daniel Loeb is hoping to pressure the company into improving its performance in comparison with its peers. As per a source familiar with the matter at hand, Daniel Loeb, an activist investor, is… Read More ›
Apple to build second data centre in Denmark
The reliability of the country’s grid has been the leading factor for locating its data centre in the country. The data centre will service Apple’s European customers. Apple Inc has disclosed it be spending $921 million (6 billion Danish crowns)… Read More ›
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