Oklahoma-based energy company, Chesapeake Energy Corp said it had laid off about 15 percent of its employees and citing the low oil price and gas as the main reason for the move. The second-largest natural gas company in the U.S had laid off 740 workers on Tuesday so far.
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Apple launches Apple Music to Chinese consumers
Apple finally announced the launching of Apple Music to Chinese customers. The app comes with a three-month trial. After that, 10 Chinese yuan per month will be charged. iTunes, iBooks, and Movies were also made available.
Working Mothers Magazine cited excellent companies for working moms
It's no longer unusual if you see working mothers in the office, streets, or restaurants. With the high cost of living, children's education, and bills to pay, couples should help each other to make both ends meet.
Aviation deal on US-Cuba air service likely this year
The latest outcome of the two-day meeting between the US and Cuba held in Havana has paved the way for reviving the airline service between the both the nations. The commercial airline services between both the nations have been suspended for a long time. The agreement on restoring the airline service is expected to be complete this year. The officials from both the countries have decided to meet again before December. The follow-up meeting is expected to be held in Washington.
US freezes assets of Islamic State supporters
The United States imposes sanctions upon 30 individuals and groups linked to the Islamic State. Fifteen people were designated by the Treasury Department as Islamic State supporters, while 10 individuals and five groups were tagged by the State Department as foreign terrorist fighters.
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Chinese e-Commerce major Alibaba Group Holding's stock (NYSE: BABA) continued to ease on Wall Street for the fourth consecutive month following the reduction in revenue forecast for the next quarter of the year. Alibaba shares fell 13 percent in September and this continuous skid since May brought down the market value to $75billion. The economy sluggishness is impacting the e-commerce sales. Of late, Alibaba Group is facing cut-throat competition in online sales. Analysts hold the view that lot of uncertainty in store for Alibaba Group in the days to come.
The leading global auto major Volkswagen, which is reeling under pressure owing to emission tests rigging scandal, has assured that it would replace the deceptive engine software that manipulates results from emission tests. It's estimated that about 11million vehicles sold across the world have been fitted with manipulative engine software. The German automobile company will start informing the owners of 11mn vehicles. It's found that these vehicles emit harmful pollutants 40 times higher than the US environment standards. However, Volkswagen didn't elaborate on the exact time of completion of the process or any compensation to vehicle owners. Volkswagen will submit a plan on technical solutions to regulators and environmental authorities for approval in October.
ComScore Inc, a data analytics provider and a major player in web tracking, will acquire Rentrak Corp for an implied value of $771 in all stock deal. Rentrak offers viewership rating services. As part of the buying deal, every share of Rentrak will be converted into 1.15 shares of ComScore. After the buying process, Rentrak will become a wholly-owned subsidiary of ComScore. The combined entity is expected to become a major measurement system for media and advertisement agencies. The buyout deal is expected to close in early 2016. The combined entity will get cost benefit of $55mn over the next two years.
Evernote Corporation had layoff 47 of its workers and closes three of its global offices. Reports confirmed affected locations were in Moscow, Singapore and Taiwan. Evernote CEO Chris O'Neill wrote in the company blog on Tuesday that Evernote had reduced 47 jobs. The company shuts down operation in three offices as well. "Today we let go of 47 people from the Evernote team and announced the closure of three of our global offices. We are grateful for the immense contributions of each and every affected person."
The 2017 Ford Super Duty model has a series of full-size trucks that will change all that seems to be the flaws of the previous trucks including air bags and colored touchscreens.
Founder Ralph Lauren quit the position as the CEO of the Ralph Lauren Corporation. He will be replaced by Stefan Larsson in November. After five decades, the fashion industry veteran, Ralph Lauren steps down as the company's CEO. Mr. Lauren appoints Stefan Larsson to take over the position. All the same, the legendary designer will still lead Ralph Lauren Corporation as an executive chairman and chief creative officer, the Wall Street Journal reported.
Yahoo Inc. is proceeding with the spinoff of its stake in Chinese e-commerce giant Alibaba even without guarantee that it won't be taxed. In a regulatory filing, Yahoo says its board has authorized the transaction despite lacking an approval from the Internal Revenue Service. On news of the decision, Yahoo's shares rose Monday by as much as 4% in extended trading.
Sony's PlayStation is in the top three as the most intimate brands for millennials based on the research done by MBLM. The report will be released on October 6.
Castro knocks out U.S. trade embargo at UN. The Cuban President, Raul Castro spoke Saturday for the first time at the United Nations and salute renewed diplomatic ties with the U.S. as "major progress". However, he knocks out a US trade embargo as the number one hindrance to Cuba's economic development, as reported by MSN News.
