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Admiral's Chief Henry Engelhardt To Give £1,000 Bonus To All Employees Before Retiring in May

Car insurer Admiral’s chief has decided to award every employee in his company £1,000 before he retires in May. Admiral has been seeing constant growth since 2011 and is now valued £5 billion under Mr Engelhardt’s leadership.


Samsonite Sales Reach Record at £1.6 billion With £136 million Profit as China Sales Soar

Samsonite saw strong sales in Asia, particularly China, in 2015. The company is not sure about 2016 outlook due to potential challenges, as it moves forward to boost presence in Asian markets.

Family Profiles: Customer Feedback Induced New Feature For Uber App

Uber has announced another new feather of its app, Family Profiles which enables customers to pay for the rides of their family members. The person, organizing the' Family Profiles' will be served a detailed report of the rides they are paying for. The feature is primarily available in select cities of the US.

Coherent To Acquire Rofin-Sinar Eyeing Global Dominance Over Laser and Photonics Technology

Coherent has announced acquiring Rofin-Sinar through a deal for $942 million. The deal is expected to close by the coming six to nine months. Through the acquisition, Coherent eyes to represent itself as a global leader in the area of laser and photonics technology.


Latest News

San Diego SeaWorld announced that it will no longer offer theatrical shows for orcas but instead it will be replaced by an educational show about the killer whale itself. The theme park's declining number of visitors and with the left and right criticism it received from animal activists made them change their tarnished image. However, orcas born and raised in captivity cannot be released to the wild as they could not fend for themselves and might perish.
Boeing has chosen London as its home for new European headquarters. Boeing's decision came soon after a joint pronouncement of a host of businessmen in favor of Britain staying in Europe.
Vijay Mallya's Kingfisher's House is in auction with a base price fixed at Rs 150 crore. A consortium of SBI led the auction where interest buyers will bid online. Lenders are optimistic that the said e-auction will generate huge amount to suffice the amount to pay for the loans granted to Kingfisher Airlines and other debts.
The UK government and Office for National Statistics (ONS) have decided to enhance data quality. Taking central bank Governor Charlie Bean's suggestions into consideration, the British government has earmarked GBP 17 million ($24 million) investment for creating new centers of excellence.
Citing drop in revenues, Moody's Investors Service has lowered Houston's $3 billion of general obligation debt by one level to Aa4. Lower oil prices and restrictions on raising taxes are keeping further pressure on Houston's economy.
LivingSocial, partly owned by Amazon, has represented itself as a foe in ecommerce business. Gautam Thakar, the new CEO has gone through a massive workforce reduction since his inception 18 months back. Beside job cuts, Thakar has transformed its business focus from daily deals to card linked discount business which is now being tested in three US cities and seems to be popular.
A huge slump in Valeant Pharmaceutical stocks on Tuesday made Pershing Capital to lose more than $1 billion in one day. Meanwhile Bill Ackman planned to take more active role in the drugmaker.
FedEx said in a statement that “a new entity competing” with the company will have to spend tens of billions of dollars to replicate its current extensive network. The statement, referring to Amazon’s new plan to get into the logistic business, also assured that FedEx’s relationship with Amazon remain strong.
McKesson is terminating 1,600 staffs from its US division in an effort to trim expenses after some important customers left the company.
Executives of all pioneer manufacturers have called for promulgation of uniform federal law ahead of a hearing of the Senate Commerce Committee on Tuesday. Several states in the US have enacted own law prohibiting the driverless cars which has been cited as the reason for their advocacy. However, lawmakers and analysts prefer more scrutiny before initiating a uniform law.