A European Union rule requires prior notification to itself in restricting social information service. The rule also bars targeting a specific service. A French court has overturned a government order on Uber’s geo-localization service citing the two grounds. The verdict appears as a victory for Uber while challenging through a flurry of appeals both in France and at the EU level.
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Kenya Airways Reveals $690 Million Bailout Plan After Incurring Loss $261 Million Last Year
Kenya Airlines has recorded an annual loss of $690 million during 2015. Following the ever largest corporate debacle in Kenyan history, the struggling national carrier has revealed bailout plan for $690 million. The plan needs to get approval in the board meeting scheduled to take place on Thursday.
Dell India Launches The World’s Smallest Laptop in the Dell Latitude Series
Dell India announced to launch the world's smallest laptop in the business-class, the Dell Latitude 13 (7370). The product offers new advanced technologies for business users who travels often, with improved battery performance and security features.
Bill Ackman's Pershing Square Capital Get One Board Seat in Valeant Pharmaceuticals
The Canadian drugmaker on Wednesday announced to add three new directors to its board. Representative from Pershing Square Capital Management was added as one of the directors.
China stocks decline, but trim losses
China's stocks fell for a second session, but managed to pare early losses on buying support from state-backed institutions. However, the buying support from state-backed funds renewed concerns that inflation is rising.
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Citigroup has established a new asset management group to offer varied solutions and services to richest investors across the world. The new global asset management group will function within investment banking business and it'll bring several segments together.
As Japan tried to revive economy in northeastern area after devastating tsunami and earthquake, winery is considered a good solution. Winery is pioneered in Miyagi prefecture to boost economy in disaster zone.
The Bangladesh central bank said that it has lost $100 million from its account at the Federal Reserve Bank of New York, later discovered to be transferred to the Philippines banking system. The central bank claimed that the Fed’s system was hacked, although the New York Fed denied that there was any hacking attempt made regarding that transaction.
Owners of Samsung Gear VR can connect the headset to their Facebook accounts. Starting next week, users will be able to like and share 360-degree video from inside the VR headset.
Constellation Brands is recalling Corona 12-pack and 18-pack bottles over concerns that there may be glass particles inside the bottle. So for the company has not received reports of any injury caused by the issue.
E.ON incurred losses has doubled in 2015 and forecasts for a gloomy 2016 due to historic low energy tariff and transformation of Germany towards renewables. Tremendous growth in the subsidized sector has forced the conventional energy firms to squeeze their businesses. Following the industry trend, E.ON has also planned for transformation focusing on renewables.
Square reported a widened loss during the fourth quarter of 2015 as transaction expenses and other related costs burdened its balance sheet. The company reported a 49% increase in quarterly revenue.
Michael Horn is stepping down as CEO of Volkswagen Group of America. Hinrich J. Woebcken will act as an interim CEO for Volkswagen Group of America from 1 April 2016 onwards.
In a Wednesday's public meeting, Franchise and Concession Review Committee of New York City approve the acquisition. The merger will create the second-largest cable operator in the United States, which raised a concern.
