Latest News

Marijuana Sales Hits Nearly $1 Billion Mark In Colorado

Marijuana sales in Colorado has hit the massive $1 billion mark. After legalization of the cannabis for medicinal and recreational purposes in 2012 the sales has increased by 42 percent over the last year. The state would reportedly use about $35 million of the tax profit for construction of schools.

Feb 16, 2016 07:19 AM EST

Palantir Technologies Acquire Kimono Labs to Strengthen Its Data Extraction Capacity

Data analysis company Palantir Technologies Inc acquired Kimono Labs to increase its data collection capacity. Following the acquisition, Kimono Labs will shut its service on February 29, 2016.

Feb 16, 2016 07:12 AM EST

South Korean Central Bank Keeps Interest Rates Unchanged, Observes Impact of New Stimulus Package

BoK has decided to keep hold benchmark interest rates in place on Tuesday. To tackle the ongoing sluggish economic growth, South Korean government has unveiled a stimulus package on February 3. BoK is predicted to analyze the impact of the stimulus package and hence opts for keeping rates unchanged.

Feb 16, 2016 06:59 AM EST

Orange SA Needs More Weeks For Bouygues Deal

Along with reporting its fourth quarter performance, France telecommunication company Orange SA also report the acquisition plan. The company needs more weeks to have approval from antitrust authorities.

Feb 16, 2016 06:56 AM EST

Anglo American Plc Announced to Sell Its Share in Kumba Iron Ore

One of the world's biggest mining company Anglo American Plc announced to sell its share in Kumba Iron Ore on Tuesday. The South African multinational company has suffered loss in its full-year performance.

Feb 16, 2016 06:47 AM EST

Slack Messaging Has Advantages Over Facebook, Said CEO Stewart Butterfield

Slack Technologies co-founder Stewart Butterfield is confident that the company's technology has advantages over other messengers. It is because Slack provides a team communication app to improve teamwork.

Feb 12, 2016 08:10 AM EST

Company Acquisition: Time Inc. Acquired Viant, Which Owned MySpace and Other Ad-Related Business Units

Time Inc. was interested in big data owned by Specific Media when they acquired Viant, which owns Specific Media. Apparently, Viant also owned other business units, including social network Myspace. Time Inc. will use data from Viant's business lines including Myspace to improve its advertising activities.

Feb 12, 2016 08:04 AM EST

Pandora selling itself; stock soars over 10%

Pandora Media Inc has engaged Morgan Stanley to facilitate the selling itself including identifying potential buyers. Pandora has been spending heavily to attract more number of users amid increasing competition in internet radio space.

Feb 12, 2016 07:55 AM EST

Yahoo Restructuring: 107 Employees Received Layoff Notice As Part of The Planned 1,500 Job Cuts

Yahoo’s planned restructuring plan had started on Wednesday, whereas 107 employees had received a written notice that after 60 days they would have to leave the office. That would be the first batch of what is expected to be a much bigger job cuts of 1,500 employees or 15 percent of the company’s workforce.

Feb 12, 2016 07:50 AM EST

Financial Report: Soundcloud Reported Prolonged Losses, With 2014 Loss of $44 Million

Soundcloud's financial report revealed that the company is experiencing significant loss in 2014, and the losses had started from several years before. The 2014 loss was due to large expenses, even though Soundcloud's revenue actually experienced a growth. The company expects to face losses for the next three years, but they are striving to plan strategies to increase income.

Feb 12, 2016 07:46 AM EST

JP Morgan's CEO purchase $26 million worth of his own company's shares

Jamie Dimon, chairman and chief executive officer of JP Morgan Chase & Co, spent $26 millions to buy shares of his bank on Thursday. The share purchase is translated as good sign by other investors as the shares climbed by 2 percent after the news broke out to the public.

Feb 12, 2016 07:42 AM EST

Obama’s final budget of more than $4 trillion expectedly faces a hostile Republican front

US President Barrack Obama has finally disclosed the 2017 US budget details. Never to shy away from what he deems right, even in the last year of presidency, he has included his long-term liberal plans that have been widely criticized by the Congress. The highlighted ones are his global climate change initiative, fee levied on crude oil, and enhanced medical care for cancer patients and drug addicts.

Feb 10, 2016 08:45 AM EST

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