American automaker General Motors has announced that the company is cutting down the production of two of its low-performing car brands - Chevrolet Sonics and Buick Veranos. The company is also planning to gradually lay off about 100 workers from July through the end of the year.   As a direct result of the reduction plan, the company’s Orion Township assembly plant near Detroit, Michigan,...

US-based social media giant Twitter will have a new CEO. The company’s present CEO Dick Costolo is stepping down after a five year tenure and the company’s co-founder Jack Dorsey will trake over the responsibilities for a short while.   Though Costolo had been instrumental in bringing Twitter to its present 300 million user strength, the company has not been bringing revenue of late....

Those, who expected a lot from the summit of the seven industrialized countries, got disappointed. Yet, those, who expected nothing, realized they were wrong, too - says DW columnist Christian Trippe. Reality can surprise every observer, since there are results that can be verified sufficiently in specific manner, as well as over time passed. For the policy of assistance to developing countries,...

European Commission launches antitrust investigation against Amazon’s businesses in the area of e-books, reports Reuters. The office will check contracts between Amazon and publishers. European Commission’s new investigation continues to pressure on the retailer, which had previously been accused of making a deal with Luxembourg government for the grant. Previously, EU antitrust authorities...

Third World War is coming, but it's good - said one of the Asian richest men Jack Ma, the founder and CEO of Alibaba Group, adding that Internet and its various platforms may trigger the global conflict. However, it won’t set countries against each other. Instead, countries such as China and the US, will unite to defeat the social evils. - The Third World War is inevitable, but it will not...

US-based technology company Hewlett-Packard has agreed to a compromise settlement of $100 million over a shareholder’s class action lawsuit in relation to the company’s failed acquisition of British software firm Autonomy.   The settlement will put an end to the woes of HP and resolve the allegations that shareholders were purposefully misled by the company’s directors. HP tried to acquire...

US-based electric car maker Tesla’s CFO Deepak Ahuja has announced his retirement later this year. Tesla will announce the replacement by the year end, according to a disclosure made in the company’s annual shareholder meeting.   Ahuja had been instrumental in the exponential growth of the company from its startup origins. He is one of the longest serving executives in Tesla, where he...

Minus to Plus: Positive marketing is Becoming a Trend Do the brands know the secret of happiness? The main thing, according to large-scale campaign of Coca-Cola, McDonald's and Dove, is that they are looking for it. Major advertisers are trying to make the world a more welcoming and happy place. Marketers are looking for ways to combat the negativity on the Internet and try to raise people’s...

After a slew of job cuts in the manufacturing industry, it is the turn of the banking industry to cut jobs.   UK-based HSBC, which has been mired in money laundering scandal, is the latest bank to cut around 8,000 jobs in the UK market. The bank announced that the move is aimed to reduce cost as well as simplify its business practices. The move will affect both retail banking as well as...