Given China’s profile, especially in the security context, it wouldn’t be surprising if it does not pass the CFIUS review. The fog of war could be lifted sometime next week, when the outcome of the review process is announced by… Read More ›
Regulations & Legal
FDIC settles WaMu disputes with JP Morgan
JP Morgan Chase & Co is set to receive $645 million out of this settlement. JPMorgan Chase & Co has disclosed that it is set to receive $645 million arising out of a settlement from a litigation with Deutsche Bank… Read More ›
Alphabet, Apple, AT&T, Verizon and others are collaborating with the govt to crack down on robocalls
Robocalls are typically used by scam artists and telemarketers. Described as a scourge by many, a taskforce has now been created to deal with this menace. In a move designed to crack down on “robocalls”, more than 30 large communication… Read More ›
Agreement Reached Between Viacom and Controlling Shareholder Sumner Redstone: Reuters
An agreement on terms of a settlement that would result in the departure of Chief Executive Philippe Dauman has been reached between Viacom and controlling shareholder Summer Redstone, reports Reuters quoting sources familiar with the situation. The battle has been a… Read More ›
Harley Davidson settles EPA probe with $12 million fine
The after-market sale of “super tuners” which boosted power and performance at the cost of increased pollution was the primary reason why the EPA went after Harley Davidson. The fine is however a slap in the wrist compared to the… Read More ›
Philippe Dauman and Sumner Redstone agree to settle and avoid a legal battle
The root cause of the crisis started when in efforts to boost Viacom’s bottomline Dauman proposed and pushed for the sale of Paramount Studios, a company which Sumner Redstone acquired after a long battle with media mogul Barry Diller in… Read More ›
Uber enter trucking industry with the acquisition of Otto
Otto’s speciality is in self-driving trucks. Uber Technologies Inc. has disclosed that it has acquired Otto, a startup which specialises in self-driving trucks. It has also formed a $300 million alliance with the Volvo Car Group so as to develop… Read More ›
SolarCity slashes operating costs, reduces CEO pay to $1
SolarCity’s CEO and CTO have asked that their annual salaries be slashed to $1 as part of the restructuring process. In order to bring its expenses in line with its reduced installation outlook, SolarCity Corp has disclosed that it would… Read More ›
Lenovo reports a hike of 64% growth in its first quarter profits
This is despite a slowing of the PC market. It has also cornered 4.5% of the global smartphone market. Lenovo, the world’s biggest computer manufacturer has reported a rise of 64% in its net profit, beating analysts’ estimate. The surge… Read More ›
Tech companies in Silicon Valley are likely to shed employees in 2016
Traditional services are losing ground to emerging cloud computing and mobile telephony related services. This trend is across Silicon Valley. Analysts and recruiters have opined that Cisco Systems’ laying off of 5,500 employees is unlikely to be the last round… Read More ›
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