Company News

Alibaba Faces Criticism from Regulators in China for Illegal Business on its Websites

Alibaba Faces Criticism from Regulators in China for Illegal Business on its Websites Alibaba Group Holding Ltd. faced severe criticism from a Chinese regulator which accused the e-commerce company of failing to clean up the illegal business transactions which carries on through its online platform.

Mass layoff Plan Flatly Denied by IBM

Mass layoff Plan Flatly Denied by IBM  On Monday, IBM called a report "ridiculous" and "baseless" that said the technology company is planning to trim its workforce by one forth with a huge lay off plan. If the reports are to be believed then, it would mean that the company will be laying off 100,000 people.

In a telephonic interview, Ian Colley, an IBM spokesman said that the company "flatly denies" the report posted by Forbes.

Dollar’s Surprise Gain Forces United Technologies to Trim Yearly Profit Forecast

Dollar’s Surprise Gain Forces United Technologies to Trim Yearly Profit Forecast United Technologies Corp. trimmed its forecast for annual profit keeping in view the growing strength of the U. S. dollar against the euro as well as other currencies. It's has been just weeks when the company gave its earlier forecast to the investors.

Tim Cook, Apple’s CEO Gets $9.22 Million as Pay

Tim Cook, Apple’s CEO Gets $9.22 Million as PayLast year, Tim Cook the CEO of Apple received compensation that was valued at $9.22 million which is greater than double the amount of his pay in 2013. The huge increase in pay was a result of new products of the company which touched the earnings to a record high amount.

Xiaomi Corp of China to Invest HK$527 million in Kingsoft

Xiaomi Corp of China to Invest HK$527 million in Kingsoft In December, Xiaomi Corp, the Chinese smartphone maker had raised $1.1 billion in funding and is putting it to good use now. The company will acquire a 3% stake in Kingsoft Corp., which is a software making firm. Kingsoft based in Beijing is a maker of productivity software which is quite similar to Microsoft Corp.

Switch to Invest 1$ Billion Near Reno to Build “Supernap”

Switch to Invest 1$ Billion Near Reno to Build “Supernap”The world's largest factory making lithium batteries is all set to move to an industrial park that lies east of Reno, creating the largest data centre of the world. Switch, the Las Vegas-based company plans to invest $1 billion in the "supernap", which spreads over 3 million square foot.

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