Skype to appoint Tony Bates as its new CEO
Posted on 05. Oct, 2010 by Allen Smith in Business
Internet calling service, Skype plans to appoint former vice-president and executive from Cisco Systems Inc., Tony Bates as its new CEO.
As the Internet calling service is inching closer to its IPO the change in the management reflects company’s plans for the initial public offering.
According to Skype Tony Bates, will replace Josh Silverman as the [...]
Google buys mobile typing start up Blindtype
Posted on 03. Oct, 2010 by Latha B. Reddy in Business
The mobile typing start up company Blind Type is acquired by Google.
Blind Type is a company that works on enhanced typing experience on cell phones especially the smartphones that run on the Android or the iOS.
Blind Type acknowledged on its official blog about its acquisition by search engine major Google. Blind Type has actually been [...]
US stock market continues southward trend
Posted on 24. Sep, 2010 by Allen Smith in Business
US stock market continues the downward trend and stocks have fallen for second straight day as data about the US job market sparked off fresh worries about the possibility of an economic recovery.
Dow Jones industrial average had fallen down by 76.89 points to about 10,662.42 at closing on September 23, 2010 and the S&P 500 [...]
Sahara India Pariwar bids $2 billion for MGM Studio
Posted on 19. Sep, 2010 by Latha B. Reddy in Business
Sahara India Pariwar, the diversified business conglomerate from India is holding talks to buy Hollywood Film Production and Distribution Company Metro-Goldwyn-Mayer Inc.
The details on the deal between Sahara-MGM weren’t available but sources suggest that the Indian-based corporate has offered $2 billion to buy the MGM debts.
When contacted, a spokesperson from the Sahara admitted that talks [...]
Nokia head of mobile solutions steps down
Posted on 13. Sep, 2010 by Latha B. Reddy in Business
The Nokia smartphones chief and decision maker Anssi Vanjoki steps down, reflecting the first change or casualty that the Finnish company took after appointment of Stephen Elop as their CEO.
The Smartphones chief Anssi Vanjoki though will serve 6 months notice to the Finnish phone maker. Stephen Elop, former president for business division of Microsoft Corp., [...]
Goldman Sachs fined £20m by Financial Services Authority
Posted on 08. Sep, 2010 by Latha B. Reddy in Business
Goldman Sachs was fined £20m by Financial Services Authority.
The FSA (Financial Services Authority) launched a probe against the bank after the American Securities and Exchange Commission (SEC) charged the Goldman Sachs of misleading the investors about Abacus (mortgage-backed security).
Although a formal announcement will be made in a day, it is said that the Goldman was [...]
Japanese Yen surges record high in 15 years as against US dollar
Posted on 08. Sep, 2010 by Allen Smith in Business
Yen hits record high in the last 15 years as against American dollar in the NY trading; this despite news of government’s call and action to curb on its strength.
Yen soar to a record high 83.4 against US dollar in New York. This adds to the concerns of weakening Japanese economy as well as [...]
Ohio Governor bans outsourcing of government funded offshore services
Posted on 08. Sep, 2010 by Allen Smith in Business
Ohio Governor banned outsourcing of government-funded IT and related projects to offshore countries.
The initiative is to improve employment opportunities for local people. Ted Strickland, the Ohio Governor issued the ban order to the outsourcing of services saying that outsourcing was a threat to jobs as well as an IT security risk.
While the move could well [...]
Oracle Corp offers job to former HP CEO Mark Hurd
Posted on 06. Sep, 2010 by Murthy in Business
Oracle Corp., offered job to Mark Hurd, the ex-chief executive of HP. Mark Hurd resigned after investigations into allegations of sexual harassment. Hurd was alleged of filing inaccurate expenses reports of one HP marketing contractor, Ms. Jodie Fisher, to hide personal relationship with her.
Mark Hurd received overtures from private firms as well as public firms [...]
Suzuki Motors bets big in India with third plant
Posted on 05. Sep, 2010 by Murthy in Business
Suzuki Motor Corp. is betting big on India. The automobile behemoth mulls with the idea of building its third car making plant and making it operational by 2013.
The move if goes well, will make India as the biggest production base for Suzuki Motor Corp, overtaking even its home country Japan.
Suzuki Motors Corp., based in Hamamatsu, [...]
