Companies & CEOs
RBS to face trial in US over mortgage issues - 03/15/2015
The Royal Bank of Scotland is under trial in a case which is part of the Federal Housing Finance Agency's (FHFA) litigious campaign in the US. The FHFA case, which is undertaken to recover part of the losses to the US government as part of the credit crunch-led recession in 2009, is ongoing in the US. The government has accused Nomura and RBS, as sponsor and underwriter respectively, of selling...
Apple replaces AT&T in the Dow’s 30-Stock Index - 03/14/2015
Adding Apple to the Dow’s 30-stock index is likely to positively reduce the decline of its index. A lot is riding on the success of Apple’s much awaited watch. Last week an announcement by the committee that determines the composition of the Dow Jones industrial average said that AT&T has been replace by Apple in the 30-stock index. Naturally this has triggered mass of competing headlines...
Apple Gained Top Spot from Samsung - 03/13/2015
Apple overtook Samsung in smartphone sales across the globe. Apple Inc., the tech giant sold the largest number of smartphones in the last quarter of 2014, thereby overtaking Samsung, mainly led by strong demands from China. With a market share of around 20.4%, Apple’s smartphone shipments reached the mark of 74.8 million which was slightly higher than Samsung’s sale of 73.03 million phones. The...
Volkswagen to Attain Top Position in Global Automobile Industry - 03/13/2015
Volkswagen is expected to overtake Toyota and become the largest automaker worldwide in 2015. Volkswagen’s Chairman and CEO Martin Winterkorn is about to accomplish his ultimate goal of making the company, world’s top automaker. Volkswagen has established its top position in China, which will serve as the most vital driver for its growth. With a significant annual production of nearly 3.7 million...
Alibaba invests $200 million in Snapchat - 03/13/2015
Chinese e-commerce group Alibaba Group Holding Ltd. has invested $200 million in US-based app company Snapchat Inc. The Chinese giant which went public last September with the world’s largest IPO at $25 billion, is increasingly looking at US-based companies to invest in. The company’s list includes app search engine Quixey, messaging service company Tango and the mobile game developer Kabam....
Wal-Mart Game Changing Move Against Rival Retailers - 03/12/2015
Wal-Mart has taken a remarkable step to increase wages for its 500,000 employees. Wal-Mart Stores started experimenting with its business model under the leadership of former CEO Mike Duke. However, his insignificant efforts were unable to turn the tide. Doug McMillon, who became the new CEO of the company in 2014, is expected to adopt aggressive strategies to boost Walmart’s growth. His...
Two of Large Banks Failed Stress Test - 03/12/2015
Four from among the largest banks in the US barely passed the stress tests of the Federal Reserve System (Fed) in 2015, and two units of foreign banks failed them. Goldman Sachs Group Inc., J.P. Morgan Chase & Co. and Morgan Stanley have been allowed to return profits to shareholders only after adjusting their initial requests to ensure that their capital levels remain above the minimum...
Zuora get additional funding of $115M - 03/12/2015
Zuora got pumped by an additional $115M thanks to investor confidence in its subscription as-a-service based business model which, is emerging as the way for conducting small and large scale business operations. Being a global leader in the billing and subscription commerce model of the new economy, Zuora, lends a helping hand to industries wanting to cross over from the old model to a newer...
Tidjane Thiam Quits Prudential For Swiss Bank, Credit Suisse - 03/11/2015
CEO of Prudential, UK’s biggest saving and investment group will take top job at Credit Suisse CEO Tidjane Thiam’s resignation from Prudential is a move towards taking the top job at insurance giant, Credit Suisse. An Ivorian who completed his studies from Paris, joined Prudenial in 2007 and within just 2 years succeeded Mark Tucker as a CEO. The announcement of his departure was made at the time...
Virgin Atlantic on the Rise - 03/11/2015
With the support and assistance of its partner, American Airlines Delta, the brainchild of Richard Branson managed to earn 14.4 million pounds in operating profit for the year, reports Financial Times. Virgin Atlantic Chief Executive Craig Kreeger said that over the next three years, the airline is expected to reach 100 million pounds of annual profits with effective fuel economy schemes and...
