Cree Inc said it would reduce manufacturing capacity at its light-emitting diode factory, as it struggles with a decline in prices, and take an $85 million restructuring charge.
Firm Management
MasterCard’s Hackfest to go global, aims for massive influx of coders from multiple cities
MasterCard announces to go global with its well-known hackathon event 'Masters of Code'. The company is expanding the event to multiple cities in the search for best coders.
BlackBerry appoints Cisco’s warhorse Carl Wiese as its new global chief of sales
BlackBerry Limited announced Carl Wiese as the president for its global sales operations. Wiese will lead the company's global market sales stratagem in an attempt to throttle the declining sales for BlackBerry.
Apple Extends iCloud Service Subscription For 30 Days Free To Greek Customers Due To Monetary Crisis
Apple is now compromising a free 30-day extension for paying iCloud subscribers in Greece without added cost. This is Apple's way to avoid downgrading and intermission of services to its Greek customers who are presently not capable of paying monthly fees due to control procedures proposed in the country.
Steve Huffman Takes Over As The Returning CEO Of Reddit; Ellen Pao Resigned Under A Mutual Agreement?
Steve Huffman, Reddit's previous CEO and co-founder, is replacing Ellen Pao as the CEO after Pao resigned due to the escalating tension after a chain of conflict and issues between the top management and subreddits that has brought chaos on its online community. On the other hand, Pao will still stay at Reddit as an advisor.
Latest News
JPMorgan (JPM.N) has hired Arkadi Nachimowski from Deutsche Bank (DBKGn.DE) to head its chemicals team in Europe, the Middle East and Africa (EMEA), according to a memo seen by Reuters on Wednesday.
Wal-Mart Stores will begin charging fees to almost all vendors for stocking their items in new stores and for warehousing inventory, raising pressure on suppliers as the world’s largest retailer battles higher costs from wage hikes.
Boeing Co (BA.N) on Tuesday named Dennis Muilenburg as chief executive officer, effective July 1, succeeding Jim McNerney.
Caterpillar, Inc. (CAT.N) will lay off another 50 workers at its East Peoria, Illinois campus on Monday because of a downturn in demand for mining equipment, the company said.
Swiss food and drinks company Nestle (NESN.VX) is cutting 15 percent of its workforce in 21 African countries, the company confirmed on Wednesday.
Starbucks Corp, the world's biggest coffee chain, said it would close all 23 of its La Boulange retail locations by the end of September as the stores were not sustainable for its long-term growth.
India's largest online grocer BigBasket, which is based in Bengaluru, is opening new warehouses in five major cities and in smaller towns in a move to expand its logistics network so as to counter the threat from hyperlocal startups offering speedy deliveries.
Apparel retailer Gap Inc (GPS.N) said it would close a quarter of Gap specialty stores in North America over the next few years, including 140 this year, potentially affecting thousands of jobs as the company struggles with a slump in sales at its namesake brand.
Tidjane Thiam starts work as CEO of Credit Suisse (CSGN.VX) next month with investors optimistic he can bring about a major change of strategy at the bank, even if he has to raise cash to do it.
