John Thompson, the Chairman of Microsoft Corp, said the software maker must set its sights on using the company's vast resources to propel it to the right direction, Bloomberg reported.
Firm Management
Indian social analytics firm Salorix closes down operations
Bangalore, India-based social media marketing and analytics firm Salorix Inc closed down its operations after it failed to raise fresh capital due to the founder's feud with investors.
Warren Buffet's uncertainty over succession plans worries investors
Warren Buffet has sought to bolster investor confidence about how Berkshire Hathaway will perform after he leaves the company but the lack of a succession plan has concerned investors, Reuters reported.
Apple announces CFO Peter Oppenheimer's retirement in September, names replacement
Peter Oppenheimer, Apple's long-time Chief Financial Officer, will be retiring in September. He will be succeeded by VP of Finance and Corporate Controller Luca Maestri, TechCrunch reported.
RadioShack announces closure of 1,100 stores across the US
Texas, US-based electronics retail franchise chain RadioShack announced the closure of 1,100 out of its 4,000 stores across the US in a bid to save the company after a massive revenue loss over the holidays.
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Tom Stoddard, a Senior Managing Director at private equity firm Blackstone Group, will be serving as the Chief Financial Officer of Britain-based insurer Aviva Plc, Reuters reported.
Burbank, US-based movie company Warner Bros is mulling over a $10 million to $15 million investment in YouTube game-focused web video site Machinima, according to a report by the Wall Street Journal (WSJ).
Sony will shut down two-thirds of its retail outlets located across the US, with 11 out of the 31 stores near major markets to remain open, as part of its move to offload unprofitable units and reduce liabilities.
California, US-based social networking giant Facebook is ditching its users' facebook.com emails starting March because many people were not using them, and will automatically revert to the original emails registered with the network.
Mt. Gox Chief Executive Officer Mark Karpelès has resigned as a board member from the Bitcoin Foundation, according to a source interviewed by The WSJ and confirmed by the foundation with a statement on its website.
IBM is going to further enhance its cloud services platform with a $1 billion investment until next year to lure more clients to SoftLayer Technologies Inc in its efforts to improve sales that have declined for the past seven quarters, Bloomberg reported.
Southern Cross Venture Partners was the lead investor for the Series A funding round for Waltham, Massachusetts-based mobile content startup bigtincan which raised $5 million.
After raising $38 million in total funding last year, San Francisco, US-based house cleaning startup Homejoy opened its second office in New York City in January to create a places where the company's city managers can meet together.
Netflix has agreed to pay one of the largest broadband providers in the United States Comcast Corp for faster speeds, throwing open the possibility that more content companies will have to shell out for better service.
