December 11, 2014 3:25 pm
RadioShack Corp announced a cost-cutting plan as the struggling electronics retailer reported its eleventh consecutive quarterly loss. “We have begun a detailed set of cost reduction initiatives designed to enhance earnings by over $400 million annually,” said CEO Joseph Magnacca. Those cost cuts will be related to the companys headquarters, field, stores, store support, store […]
Read moreDecember 11, 2014 1:45 pm
Zara store owner Industria de Diseño Textil SA, the worlds biggest clothing retailer, reported on Thursday profit and sales above expectations for the first nine months of the year. The Arteixo, Spain-based retailer said that net income increased to €1.69 billion during the period between February 1 and October 31, slightly up from the €1.67 […]
Read moreDecember 11, 2014 12:15 pm
eBay Inc is weighting the option to cut its workforce next year as the retailer figures out details around the upcoming spin-off of its PayPal payment unit, according to people with knowledge of the matter. Around 3 000 employees, or nearly 10% of all workers, will part ways with the company, the Wall Street Journal […]
Read moreDecember 11, 2014 11:37 am
Google Inc. announced that its news portal in Spain is planned to be closed due to new copyright legislation, which allows publishers charge Internet companies for their content that is being collected from other websites. The owner of the largest search engine in the world revealed in a blog post that Google News in Spain […]
Read moreDecember 11, 2014 9:38 am
The shares of Airbus Group NV plunged the most in more than six years after the company announced a projection for its 2016 earnings, projecting they will be “rather flat”. In addition, the company stated it will likely further reduce the manufacturing of its A330 long-range jet, as well as that it is currently dealing […]
Read moreDecember 11, 2014 8:35 am
According to a person with knowledge of the situation, Royal Bank of Scotland Group Plc is to pull out of fixed-income trading in Japan. The bank is to lay off some of its employees in the country, reducing their number by more than 200 to about 30. Most of the jobs will be cut by […]
Read moreDecember 10, 2014 3:34 pm
International Business Machines Corp and Apple Inc will be revealing the first ten applications since their partnership was announced five months ago. The initial set of applications are aimed at governments and businesses, who are trying to keep up with the fast development of todays technology. Under the targeted audience are banks, retailers, insurers, telecommunication […]
Read moreDecember 10, 2014 2:07 pm
HSBC Holdings Plc has fired its European head of currency trading in relation to the foreign-exchange scandal last month, for which the British bank was fined $618 million. Stuart Scott, who was based in London and was in charge of foreign-exchange trading operations, was dismissed on December 9, after seven years with the British lender. […]
Read moreDecember 10, 2014 12:41 pm
The largest warehouse-club chain in the U.S., Costco Wholesale Corp., reported a profit, that outpaced initial analysts forecasts over the quarter that ended in November. The reported figure came as a result of increased sales at established stores over the period. Costcos profit also benefited from membership fees. The U.S.-based company, currently one of the […]
Read moreDecember 10, 2014 12:40 pm
Samsung Electronics Co said it will combine two of its US subsidiaries in order to boost efficiency and increase competitiveness. The tech giant said in a statement that it will merge its Samsung Electronics America Inc, main distributor for consumer electronics in the US, with Samsung Telecommunications America LLC, its mobile division, into a single […]
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