Xerox Corporation will be split into two separate business entities for hardware and services businesses. It's learnt that activist investor Carl Icahn will get multiple positions on the boards of the two companies including three on the board of services company. Xerox's fourth quarter numbers are expected to be released on Friday and an official statement about division may also be announced simultaneously.
Industry
Standard & Poor's Demoted Sprint's Credit Rating on Tuesday
S&P rating service on Tuesday downgraded Sprint credit to B, citing a challenging environment for the wireless industry. Morningstar and Moody have also demoted Spring credit rating.
It's too early to dump Chinese stocks, Citigroup tells investors
Citigroup holds view that it's too early to come to a conclusion about the state of the world's largest economy. It advises investors not to offload stocks over China. Citigroup in its latest research reports terms the present uncertainty and sluggishness in the Chinese economy and markets as a 'correction.'
NetApp acquires SolidFire: SolidFire is now an official part of NetApp
NetApp has completed its acquisition of SolidFire which is a scale-out flash array maker. Now customers have an advantage to meet their needs for data services by accessing industry's broadest all-flash portfolio.
Oil price may rebound 50% in 2016
The latest forecast indicates 50 percent rebound in oil prices by the end of 2016. The oil price could be higher by $15 per barrel this year taking the New York crude to $46 a barrel by fourth quarter and Brent to $48 during the same period. The drop in US shale output is likely to drive oil price up in the second half of 2016.
Latest News
After a massive loss of $4.3 billion in Q4, Yahoo will struggle much more to return to profitability. The Internet company decided to cut its employment by 15%, close some offices and explore strategic alternatives.
Chipotle said that its quarterly net income plunged 44%, marking it the worst period after the outbreak of an E.Coli. However, the profit was higher than the prior outlook.
Google's parent company, Alphabet, is now the most valuable company in the world beating Apple. The $568 billion in valuation company recorded a total profit of $4.9 billion for its fourth-quarter earning.
The lawsuit is cast out by more than 40 customers, led by Chris Howe. The lawsuit stated that McDonald's aired unfair advertisements with the claim that its new menu item contains 100 percent pure mozzarella cheese, while according to Howe they contain filler. The lawsuit tests support the claim, but McDonald's has refuted the claim.
Stocks dipped to session lows on Tuesday. Shares of oil companies plunged as crude oil continued to slide. Three of major indexes also fell.
Palestinian-American entrepreneur Zahi Khouri teamed up with Palestinian investors to build a Coca-Cola manufacturing plant in the Gaza Strip. This new factory would provide direct jobs for 250 people and indirectly support 1,000 local families. This move is one of the first and most significant economic development in Gaza after the end of the war in 2014.
With a growing number of venture capital firms providing fund and startup companies looking for funding, there are many opportunities for each other to matchup. Here are some tips for venture capitalism from the experts.
There are chances that your hoverboard might catch fire. But there is a solution that eases your mind with specially designed carry bag called Hovervault that prevents the potential fire flames from spreading.
Blackstone’s fourth quarter profit drops on volatility. the fourth quarter profit fell to 70 percent. This occured because the asset sales slowed and whipsawing markets took a toll across its business.
