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.
Firm Management
Retailing Giants Shut Hundreds of Stores Down In US & Elsewhere, Job Cutting Feared
Walmart and Macy’s have announced shutting hundreds of stores on Friday and thus lingers the list with other retailing giants like Sears and Target. Surprising growth of ecommerce has reduced growth of the departmental stores and shopping malls. With the announcement of the World’s largest retailer, traditional stores have been started to witness the blink of extinction.
BHP Billinton Writes Down US Shale Assets Worth $7.2 billion, No Surprise For The Investors
Oil and gas market have been tattering due to existing sharp downtrend in price. Many oil companies have been writing down the value of shale assets over the past 20 months since prices started crashing. BHP Billinton Ltd. has also become dependent on bank debts to maintain soaring expenses and plans to cut dividends for the first time in 25 years. Finally, following the industry trend, BHP has announced for writing down US energy assets worth $7.2 billion.
Foursquare welcomes new CEO, as Crowley ‘steps up’ as the new Executive Chairman
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 Refurnishes Fixed Income Division, Names Sam Kellie-Smith As The New Head
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.
Latest News
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.
Oracle billionaire Larry Ellison's Ohana Airline Holdings LLC will sell a controlling interest of Island Air to venture capital investment company PacifiCap.
Apple is possibly going to bid farewell to the headphone sockets in its new models of iPhone 7/ iPhone 7 plus/ iPhone 6C. This process will make the phone even thinner than normal, while Wolfson Microelectronics will remove background noise during listening to music and making phone calls. But all the changes, Apple is rumored to adopt, are features borrowed from market rivals.
SpringOwl Asset Management managing director Eric Jackson recommends Yahoo to replace CEO Marissa Mayer and cut 9,000 of its workforce.
Chipotle reopen its Boston restaurant in Cleveland Circle on Christmas. After an outbreak of norovirus in its outlet earlier, the Mexican Grill would have to close its restaurant for inspection.
