Archive for April, 2014

CEO at LinkedIn Receives 40-Fold Pay Raise

In 2012, Jeff Weiner the CEO at LinkedIn Corp earned $1.18 million. However, his total compensation increased over 40-fold in 2013 to more than $49.1 million after the business gave its first stock awards out since 2011. Weiner’s pay included stock options worth $28.7 million and equity awards worth $18.7 million, according to a Securities […]

Microsoft Targeting Affordable Phone Market

Software giant and U.S.-based Microsoft, the new official owner of the mobile device segment of Nokia, will set as its target the $50 billion affordable mobile phone market to help restore the lost glory of the business, which at one time was the largest handset maker in the world. Prior to being purchased by Microsoft, Finland-based […]

Consumer Sentiment Up in April in U.S.

In April, consumer confidence increased to a high of nine months showing that Americans are becoming more upbeat with the economy as the labor market starts to gain more traction. The University of Michigan/Thomson Reuters index for consumer sentiment was up to 84.1 from a low of four months of 80 during March. Economists had […]

Profits at Biogen Idec Up 12% on Growth in Revenue

Biogen Idec Inc has announced that its profit from the first quarter was up by 12%, thanks to strong sales from Tecfidera, its pill based treatment for multiple sclerosis, which drove revenues higher. The company raised is outlook for earnings for this year. Biogen now expects its adjusted earnings to be between $11.35 and $11.45 […]

AstraZeneca Stock Jumps on Takeover Reports

Shares of AstraZeneca in the U.S. jumped in trading before the bell Monday after reports of a takeover approach of $100 billion by Pfizer, which would be the largest deal in pharmaceuticals history if it were to be accepted. Neither of the two companies would make a comment on the latest reports that the two […]

Adidas and Nike Supplier Goes on Strike in China Halting Output

In China, shoe factory striking workers halted the production for the fifth day in a dispute involving company contribution to the housing funds and social security of employees. The stoppage of work at Yue Yuen Industrial Holdings, a maker of shoes for brands such as Adidas, Asics and Nike continued into the weekend, while the […]

Ousted Executive at Yahoo Given HUGE Severance Package

Henrique de Castro was employed at Yahoo for just 1 year and 3 months. The former Yahoo Chief Operating Officer left the company with a severance package over $58 million. This is according to a document filed with the Securities and Exchange Commission the regulatory agency, on Wednesday The “golden parachute” as it has been […]

Profits Up and Results Top Estimates at Johnson & Johnson

Johnson & Johnson the healthcare giant said its earnings during the first three months of 2014 had increased to $4.73 billion equal to $1.65 a share from $3.5 billion equal to $1.22 a share during the same quarter one year ago. The first quarter for 2014 included a gain of on special items after taxes […]

Amazon Paying Disgruntled Employees to Leave

Under a new program named Pay to Quit, Amazon is paying up to $5,000 per person to weed out unproductive or disgruntled employees at its different fulfillment centers. In a company letter this week addressed to shareholders, CEO Jeffrey Bezos outlined details of a rare strategy by human resources the retail internet giant has recently […]

S&P Lowers Outlook on Credit Rating for Finland

Standard & Poor’s Ratings Service cut its outlook on the credit rating for Finland from stable to negative on Friday due to the Nordic country’s economic problems continuing. The ratings service reaffirmed the triple-A long-term foreign and local currency sovereign credit ratings for Finland. The revision of the outlook reflects our view of the protracted […]

American Airlines and US Airways Change Mileage Awards and Baggage Fees

It is easier for frequent fliers of US Airway now to redeem their miles on American Airlines. However, it might take additional miles to receive a free trip, depending upon when the dates of travel are. Both of the airlines are cutting back on checked bags that are free that are allowed under the loyalty […]

Mallinckrodt Purchasing Questcor in California

Ireland’s Mallinckrodt the specialty drug makers said Monday that it was acquiring California based Questcor Pharmaceuticals for a stock and cash deal worth more than $5.6 billion. The transactions will expand the offerings of Mallinckrodt’s specialty pharmaceuticals, including the primary drug from Questcor Acthar, which manages difficult to treat inflammatory and autoimmune conditions. The terms […]

GlaxoSmithKline Fires staff in China for Overstating Expenses

Facing bribery allegations in China, GlaxoSmithKline the pharmaceutical giant dismissed a number of its employees there over the failure to comply with rules for expenses, a person who is familiar with the situation announced Friday. The biggest drug maker in Britain declined comment over the details of the sacking of employees but did confirm it […]

Lufthansa Pilots Strike Stops Air Traffic

Deutsche Lufthansa AG has canceled thousands of its flight at the beginning of a strike of three days by its pilots that is set to create the worst disruption in the history of the airline amidst a campaign that slashes costs in order to remain competitive. Close to 3,315 services have been suspended up to […]

Alibaba Acquiring 35% Share of Intime Retail for $692 Million

Alibaba Group Holding said on Monday it has agreed to take a stake of 35% worth $692 million in Intime Retail, the department store operator in China, the e-commerce company’s bid to link online shopping with retail stores that are brick and mortar. The new deal will help e-commerce giant Alibaba increase its presence at […]