A regulatory filing by Yahoo Inc. on Thursday suggests that the tech giant has changed its employee severance plan. The new plan confirms severance payments even after acquisition of the tech giant. Analysts consider the filing as its preparation for selling entire or at least part of its core business.
Corporate News
- American Millionaire Charged in Brutal Murders of Canadian Tycoon and His Partner in Dominica Denied Bail
- Sheetz Convenience Store Accused of Racial Discrimination After Denying Employment of Black, Mixed-Race, and Native American Applicants
- Michigan Family Sues Wendy's for $20 Million After 11-Year-Old Girl Suffered Deadly E.Coli Infection
The largest coal miner in the US has sought protection under bankruptcy law on Wednesday ending speculations over its future. The filing has been acknowledged as the largest bankruptcy case by liabilities during this year. With this filing, a century old publicly traded company is going to shutting down its operations in the US.
SunEdison has been passing through acute cash crunch while embattling with lawsuits. Though the lawsuits have been filed recently and remain pending for adjudication, the variety of claimants has attracted analysts’ attention. However, the event has been analyzed as instance of tilting confidence among the creditors as well as investors.
GE has slashed down assets of finance arm from $549 billion to $265 billion while cutting ties with rest of the financial system that led to attain the SIFI status. Now the conglomerate appeals for its declassification since it no longer possesses ability to exert risk for the US economy. However, an FSOC spokesman vows to exercise its legislative authority in protecting the country’s economy from potential threats.
Charles River Associates, CRA, the Boston based global consulting firm is specialized in litigation, regulatory, financial and management consulting. The firm is now expanding the finance practice through appointing James Massey as a vice president. Mr. Massey has 30 years’ experience in advising a wide range of companies covering S&P 500, private equity firms, hedge funds and so on.
Knesset has passed a bill that fixes maximum ceiling of executives in the financial institutions with no opposition. The bill turned law aims to reduce wage gap. However, a similar attempt in the US has backfired since the revised law allows exemptions for extraordinary performances.
Ayala Corporation, the largest business group by assets in the Philippines has already acquired certain stake in the automotive industry through IMI. Now, the conglomerate eyes to expand its dominance over the industry in line with a comprehensive program naming CARS. With support from the program, Ayala will go for manufacturing local car brand along with spare parts production facility.
Hyperloop Technologies Inc. has been implementing an innovative idea of Tesla CEO Elon Musk through developing a new concept of transportation platform. The Los Angeles tech giant considers for spending $121 million to develop the full track at Apex Industrial Park. To allure the investment, Nevada state officials have waved $9.2 million sales tax applicable on the capital expenditure.
JPMorgan board has announced the approval of $1.88 billion buy-backs in stock. The recent buy back decision follows its earlier precedence of repurchasing stock for $6.4 billion. The board has allowed flexibility in timeframe and quantity of purchased shares or even pulling out from the decision at company’s own discretion.
LivingSocial, partly owned by Amazon, has represented itself as a foe in ecommerce business. Gautam Thakar, the new CEO has gone through a massive workforce reduction since his inception 18 months back. Beside job cuts, Thakar has transformed its business focus from daily deals to card linked discount business which is now being tested in three US cities and seems to be popular.
3D Systems Stock Records Highest One Day Gain In Five Years Indicating Surge In 3D Printing Industry
3D Systems has disclosed its earning scenario which has off beat analysts’ predictions through several parameters. Following disclosure of the earnings report, prices of the printer manufacturer’s share have been witnessed to gain 26.3%, which is the highest single day gain during the last five years.
Share prices of WPP have been witnessed to rise by 98% between 2011 and 2015. Acknowledging WPP CEO Sir Martin Sorrell’s efforts, the world’s largest ad firm is going to announce £60 million Pay Package for him. But the ad agency’s move may again face opposition from the shareholders following earlier precedence.
Fastjet founder Stelios Haji-Ioannou has called for removing its CEO and suggested for other restructuring. Though the African budget carrier has decided for keeping the CEO as an advisor for another year, but finally decides to address its founder’s call. However, the founder has accused the Fastjet CEO for representing unrealistic revenue forecast.
DuPont and Dow Chemical Co. have agreed for a $130 million merger reflecting ‘merger on equals’. Following the merger, Dow CEO, Andrew Liveris will enjoy the lion share of $52.8 million while Edward Breen, DuPont’s CEO, will get $27.2 million. However, this appears as a true “Golden Parachute’ only for Liveries since Breen has secured job in the proposed merged entity.
Citigroup is reportedly in negotiation to appoint Armando Diaz as the global leader of capital equities trading. These appointments signify the bank's effort to construct a robust stock offering business.
Subscribe to VCpost newsletter
Most Popular
- SSDI Payment April 2024: Who Will Receive Social Security Benefits Today?
- Tesla Spends $200,000 in Promoting Elon Musk's Social Media Platform X Following Mention of 'Minimal Advertising Efforts'
- Brazilian Woman Wheels Her Dead Uncle Into the Bank to Withdraw Loan in His Name
- Australian Farmer Prepares Grave of 3,000 Sheep After Failing to Find Buyer
- Tech Giants Gear Up for Earnings Showdown; Investors Await if AI Strategies Turned Into Profits
- Netflix Exceeds Projections with 9.33 Million New Subscribers in Q1, Hitting Nearly 270 Million Total
- Stability AI Cuts 10% of Its Workforce Following the Controversial Exit of Its CEO
- Trump Media Investors Finally See Uptick in Their Shares for 2 Straight Days