Firm Management

UniCredit appoints Zadrazil as new head of Bank Austria to oversee restructuring after suffering losses

Italian bank UniCredit to replace Bank Austria CEO Willibald Cernko with head of private banking Robert Zadrazil on March 1 to oversee restructuring after suffering losses.


Spotify and Genius Collaboration: Displaying lyrics and facts on your screen

Spotify and Genius work together to provide a better and deeper music experience for their users. Fact Tracks shows lyrics, along with annotations from the community or the artist itself.

TrueBridge Capital Closed Its Fourth Venture

TrueBridge Capital Partners announced the closing of its fourth venture capital fund-of-funds on January 13. The fourth fund-of-funds is secured at its $400 million hard cap.

Haier Deals With GE On Purchasing Electrical Appliance Business To Find Momentum In The US Market

General Electric Co. has been intending to sell its electrical appliance chapter prior to initiation of global economic debacle. The Federal Justice Department has foiled its earlier bid to sell its century old electrical appliance portfolio. Finally, it has reached a consensus to sale the business unit to Chinese electrical equipments maker Haier for more than $4 billion.


Latest News

Dennis Crowley, the co-founder of Foursquare, has passed on the reigns to the able hands of the then-COO, Jeff Glueck. Around the same time, the company raised its much-needed fund of $45M at this year's round of financing.
Morgan Stanley, has been reported to tatter with its fixed income division. Following the industry precedence of changing or reshuffling the executives, it has named Sam Kellie- Smith as the head of fixed income and commodities. The Wall Street Bank’s recent moves haven’t surprised the analysts at all.
GoPro Inc., Sun Mateo, California based company is going to cut 7% people out of its 1500 employees following poor sales revenue in Q4. Some technical issues have been blamed for sluggish sales during the fourth quarter from the action camera maker’s behalf. But the company axes over the employees to restructure expenses. However, analysts presume, the fall in sales revenue may not be up to that magnitude.
John Legere has been witnessing a social media riot centering his F bomb blasting during a question- answer session in Twitter on Monday. One of T Mobile’s ‘Binge On’ has reportedly withdrawn itself from the platform. The embattled CEO has been compelled to seek apology but tries to make it conditional. T Mobile is accused of violating net neutrality through throttling by EFF and net neutrality advocates.
Google has assigned Cardboard famous Clay Bavor as the head of its virtual reality projects. Facebook has also assigned Instagram’s director of product as Head of Product management in its VR subsidiary, Oculus. The concurrent moves have been analyzed as their keenness for reigning over VR market.
A train station in Japan continues its operation, despite being scheduled to shut down three years ago, to serve one school girl who is about to graduate on March.
Ted Anthony, AP’s Director of Asia- Pacific news has named Gillian Wong as the News Director for Greater China. Wong, a career journalist is famed for her vast knowledge over China following his coverage over this territory since 2008. The charismatic journalist is going to serve AP from Beijing in its 2nd phase after fist one ended in 2008.
State-owned Saudi Arabian Oil Co. (ARAMCO) is possibly going for an IPO aiming to raise funds for $1 trillion to $10 trillion. Some shares of the IPO may be awarded among the local banks and investors following ARAMCO’s action plan. However, experience in banking operations in the kingdom is believed to play the key role for selection which put HSBC and JPMorgan well ahead in the IPO grabbing race.
In a major setback, Silicon Valley’s largest startup accelerator reshuffles assignments for top executives. After five years of joining, Gmail and FriendFeed dreamer Paul Buchheit replaces Sam Altman as managing partner of startup accelerator’s core program. Sam Altman is reportedly assigned to advise his successor managing partners while overseeing the entire program.
McDonald’s launched a new makeover for its packaging using bold, bright colors on cups, boxes, and bags that will become more appealing to customers.
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