McKesson is terminating 1,600 staffs from its US division in an effort to trim expenses after some important customers left the company.
Industry
Vijay Mallya's Kingfisher House Auctioned at Rs 150 Crore Base Price
Vijay Mallya's Kingfisher's House is in auction with a base price fixed at Rs 150 crore. A consortium of SBI led the auction where interest buyers will bid online. Lenders are optimistic that the said e-auction will generate huge amount to suffice the amount to pay for the loans granted to Kingfisher Airlines and other debts.
UK's data office keen on quality, considers Charlie Bean's suggestions
The UK government and Office for National Statistics (ONS) have decided to enhance data quality. Taking central bank Governor Charlie Bean's suggestions into consideration, the British government has earmarked GBP 17 million ($24 million) investment for creating new centers of excellence.
Moody's cuts Houston's $3-bln debt to Aa3 after oil price drop
Citing drop in revenues, Moody's Investors Service has lowered Houston's $3 billion of general obligation debt by one level to Aa4. Lower oil prices and restrictions on raising taxes are keeping further pressure on Houston's economy.
LivingSocial Cuts Jobs By 50% While Focusing On Card Linking Discount Business
LivingSocial, partly owned by Amazon, has represented itself as a foe in ecommerce business. Gautam Thakar, the new CEO has gone through a massive workforce reduction since his inception 18 months back. Beside job cuts, Thakar has transformed its business focus from daily deals to card linked discount business which is now being tested in three US cities and seems to be popular.
Latest News
Executives of all pioneer manufacturers have called for promulgation of uniform federal law ahead of a hearing of the Senate Commerce Committee on Tuesday. Several states in the US have enacted own law prohibiting the driverless cars which has been cited as the reason for their advocacy. However, lawmakers and analysts prefer more scrutiny before initiating a uniform law.
Shareholders of two U.S. prominent banks will vote later this year regarding the breakup plans for the banks. However shareholders are predicted to decline the plan submitted by liberal lobby activist.
Ctrip reported a 50% increase in its net revenues for the fourth quarter ended December 31, 2015, as demand for online ticketing increases.
Celator Pharmaceuticals shares jumped more than 400% in Tuesday trading. Meanwhile, hedge fund manager Steve Cohen unvelied his 8.3% shares of the company.
Sources believe that Apple is trying to enhance its security for iCloud amid the legal dispute with the FBI. However, the tech giant will have its challenges to ensure security while retaining users convenience. Reports also said that the company has moved some of its iCloud services to Google servers.
Series of bankruptcy decisions indicates the decaying market stake of coal industry and Peabody appears as the latest to file chapter 11 with the New York Stock Exchange. Many coal mining companies are still operating with profits. So warning of bankruptcy by the world’s largest private coal miner doesn’t indicate possible extinction of the coal industry.
Two of the most prominent European stock exchange, Frankfurt and London has agreed to merge on Wednesday. The merger between them will create a new European trading powerhouse.
Crytek’s new VR-enabled game development engine, the CryEngine V, will be available for a price that “feels comfortable” in the company’s new “Pay What You Want” business model. Users can buy resources from the engine’s new Marketplace system and also choose to contribute to the company’s new program to help indie projects around the world.
The self-lacing shoe technology finally arrives, as Nike announced its newest adaptive lacing technology. The HyperAdapt 1.0 will be available for Nike+ members later this year.
