corporate news

Alibaba, Baidu, and 23 Other Chinese Tech Companies Pledged to Help Government Fight Online Terrorism

As a response to China’s new anti-terror law, 25 tech companies in the country have signed a pledge to help the government combat online terror activities. Under the law, tech companies are required to decrypt information for Beijing and provide assistance to keep the internet from terror-related contents.

SEC Files Fraud Charges Against Fired ConvergEx Executive Basilly Years After His Dismissal

SEC has filed a lawsuit against former ConvergEx exec Basilly on Tuesday on the allegation of defrauding traders. Prior to that, ConvergEx has admitted wrongdoing through its several units and counted penalty of $150 million to the regulators. However, his lawyer claims innocence rejecting all allegations and cites that Bassily has acted as per ConvergEx approved business model.

Regulators Said Takata Still Need To Recall 85 Million Airbags

US safety regulator announced Wednesday that Takata still need to recall its defective airbags. NHTSA said unless Takata proved them to be safe, all remaining airbags in US vehicles must be recalled eventually.

Ineos Plans to Relocate HQ to England this 2016

After moving its headquarter for six years in Swiss, the petrochemical giant sets to return home. Founder and CEO Jim Ratcliffe planned to relocate its headquarter back to England.

Macquarie Led Group Wins Approval From Louisiana Acquiring Cleco For $3.4 Billion

A group of investors led by Macquarie has reached an agreement with utility company Cleco to acquire the latter for $3.4 billion during October 2014. The acquisition proposal has previously been rejected by Louisiana PSC last month due to absence of best interest offerings to the Cleco customers. However, the deal has been approved on Monday following revised commitments from both the parties.

Synova Capital Sold UK Handbag Maker TLG Brands to Hong Kong's Global Brands Group

Synova Capital has sold its UK fashion accessories brand TLG Brands to Hong Kong’s Global Brands Group. Under Synova’s ownership, TLG Brands has been seeing strong growth and more presence in international as well as online markets.

SuperData trims 2016 outlook for Virtual Reality Sales

SuperData Research reduced its 2016 virtual reality revenue outlook by 30%. The company expects to sell 16.8 million mobile VR instruments within 2016 end.

Marathon Oil plans to sell shares through public offering

Marathon Oil announced its intention to sell 135 million of common shares through a public offering. The ongoing slump in the global oil industry has led many oil firms to undertake the cost-cutting strategy to keep hold of their cash level.

Valeant Pharmaceuticals Shares Plunges After SEC Investigation

Canadian pharmaceutical company shares dropped 18% on Monday, as the company admitted being under investigation by U.S. Securities and Exchange Commission.

Eskom to Receive Last Payment of 5 Billion Rand Bailout By Next Week

Next week, Eskom will be paid the remaining balance from the bailout. Eskom CE Brian Molefe expressed frustration to learn that Finance Minister Pravin Gordhan announced that the funds will be withheld. Treasury informed that the fund will be transferred and is already being processed.

Kraft Heinz reports profit in Q4, beats Wall Street view

The Kraft Heinz Company on Thursday reported its fourth-quarter earnings that outstripped analysts' estimate. The company also declared a quarterly dividend of $0.575 per common share.

Google unveils AMP to fasten loading time of news article on mobile devices

Google introduces AMP project to fasten the loading of news articles on mobile screen. Unlike the traditional web pages, AMP pages consume less power.

Louisiana Public Service Commission Rejected Macquarie's Move to Acquire Public Utility Cleco Power LLC

State regulator rejected a $4.85 billion dollar acquisition of utility power company Cleco to Macquarie Group on Wednesday. The regulator said that the acquisition did not serve the best interest of the customers.

Swiss Drilling Company Transocean Posts Profit Despite Poor Oil Price

Transocean's fourth quarter earnings exceeded the analysts' earnings estimate amid the ongoing fall in the oil market. The company managed to post a quarterly profit of $617 million by reducing its operating costs.

InVisage introduces SparkP2 for IoT devices

InVisage unveiled SparkP2 for Internet of Things instruments. The SparkP2 has the potential to arrest 2-megapixel pictures and consumes less power than the traditional silicon cameras.

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5-Year Payoff: New Study Examines College Return on Investment

Whether a college degree is worth the cost is one of the main concerns that families have these days, especially in light of escalating tuition and fees that may leave graduates with debts totaling tens of thousands of dollars from student loans.

US Urban Centers Are Seeing the Worst Rent Spikes at 30%

Since the pandemic started, average American wages have increased, but for many, these gains are being eaten up by growing rent.

'The Fall Guy' Bombs Despite Star Power and $2.4 Billion Frenzy

Despite a strong start, "The Fall Guy's" box office issues reveal a grim reality after a $2.4 billion sensation. Although the action comedy received positive reviews, the film has had trouble making money.

Cost of Raising a Child Up to 18 Years Old May Reach $331,933

While many fundamental expenses, like food and clothing, are generally something you can plan for and manage as a parent, some things might be far more costly and unexpected.

Social Security, Medicare Get Reprieve: Benefits Secured for Another Decade

According to the annual Social Security and Medicare trustees report released on Monday, the go-broke dates for Social Security and Medicare have been pushed back due to altered expected depletion dates brought about by a stronger economy.

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