Company News
99% of Merck, Schering shareholders support merger
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Shareholders of both, Merck & Co and Schering-Plough have backed the merger of the two U. S. drug-makers in their special meeting on Friday.
The merging of the two companies would make Merck & Co to become world's no. 2 drug-maker in terms of prescription medicine sales, just behind Pfizer Inc.
Target announces its decision to split with Amazon.com
In a Friday announcement that explicitly implies Target Corp.'s decision to bring to an end its association with online retailer Amazon. com, the second-ranking US discount retailer said that it intends building and managing its own online platform Target. com, the new Website of which it would likely launch close to the 2011 holiday season.
Three-day ‘sales tax holiday’ begins in 13 US states
With Georgia and Mississippi states having completed their 'sales tax holiday' last weekend, at least 13 other US states have geared up for the characteristic 'windfall' of the tax-free back-to-school items - ranging from clothing and shoes to school supplies and computers.
BMW’s July sales down 13%; Mini sales climb a little
German luxury-car maker BMW AG said Friday its global sales dropped approximately 13 percent in July to 109,923 cars.
BMW, world's number one premium car-maker by sales, sold 725,377 cars during the first 7 months of the year, 19 percent lower as compared with the same period of the last year.
Microsoft acquires Office.com domain from ContactOffice
Searches of Internet registration records have recently revealed that the Office. com domain has been acquired by Microsoft from a Brussels-based company, ContactOffice, with the control of the domain being transferred to Microsoft on Tuesday.
Twitter overwhelmed by ‘denial-of-service’ attack; access disrupted for 3 hours in US
In what has been termed as a "pretty heavy attack," the Thursday morning 'denial-of-service' (DoS) attack overwhelmed the popular social network, Twitter, thereby resulting in a nearly three-hour long disruption of access to more than 30 million of its users the world over! Also affected by the attacks were other social networks - Facebook, Live Journal, and Gawker.
Samsung launches 8000 series LED TVs in India; adds 32” and 55” models to existing series!
After the April launch of its 6000 and 7000 series of LED TVs in the Indian market, Samsung has now followed up with its latest offering for the country - the bigger, pricier 8000 series LED TVs! The 55-inch model of the newly-launched 8000 series is Samsung's flagship LED TV offering in India!
Sony launches a sleek, easy-to-carry netbook – the VAIO W series
Sony's VAIO lineup of notebooks has a new addition - this time round a netbook, the VAIO W series! The sturdily-built, fast-performing 10-inch netbook possesses the key characteristics of the Sony VAIO notebook, but in a much smaller, easy-to-carry package!
European telecom operators – Deutsche Telekom and PT - meet Q2 forecasts
Despite the challenging operational environment, two European telecom operators, Deutsche Telekom and Portugal Telecom (PT), managed to meet the analysts' estimates for their second-quarter results - thanks to the performance of their respective overseas operations, especially in the emerging markets!
American Express posts lesser no. of defaults in July
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American Express Co, United States' leading credit card company reported Wednesday that fewer bankruptcies helped the company to witness slower rate of losses from credit card loans, sending its shares at a 10-month high.
Joanna Lambert, spokesman of the company said the write-off rate on credit-card balances stood at 9.2% in July as compared with 10% in June.
News Corp to charge for online news; may end ties with Amazon
News Corporation's CEO Rupert Murdoch has given strong indications that users will soon have to pay for reading company's newspaper-contents on the Internet. Rupert Murdoch said company could no longer afford to provide news on the Internet free of cost.
Microsoft: Windows 7 XP Mode enters RC status
According to a Tuesday announcement by Microsoft, its Windows 7 XP Mode beta, which was released three months back, has entered Release Candidate (RC) status. The Windows 7 add-on would enable users to run a virtual version of Windows XP or Vista within Windows 7 OS, provided they have the requisite hardware.
SEC files complaint against GE’s accounting fraud; GE to pay $50 million in settlement
According to the Securities and Exchange Commission (SEC) complaint filed in federal court in Connecticut, the General Electric (GE) conglomerate used improper accounting methods to meet or beat its earnings expectations, thereby deliberately defrauding investors.
Netflix to stream bygone seasons of ABC shows like “Lost” and “Desperate Housewives”
As per the online movie rental company Netflix Inc.'s agreement with The Walt Disney Co., the bygone seasons of ABC TV's shows like "Lost" and "Desperate Housewives" will soon be available for viewing via Netflix's "Watch Instantly" service.
RadioShack shedding “radio” from its name to become "The Shack"
The Fort Worth-based RadioShack is making an attempt to alter its image by shedding "radio" from its name and rebranding itself as "The Shack."
"The Shack", the new title will appear on displays and signs for the company. The rebranding campaign is scheduled to start on Thursday.
GM buyout offers falls 7,500 workers short of its target
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As many as 6000 hourly blue-collar workers at General Motors have accepted buyouts and early retirement offers and left the firm.
Nevertheless, Detroit-based GM may have to hack more hourly jobs as its buyouts and early retirement offers fell around 7,500 workers short of its target.
AIG appoints ex-chief of MetLife as its new CEO
Bailed-out insurance giant, American International Group inc. has appointed Robert H. Benmosche as its new chief executive officer.
Mr. Benmosche, 65, a former chief of MetLife is going to succeed Mr. Edward Liddy as CEO.
Mr. Benmosche will take on the new responsibility on August 10.
Federal agents raid Colonial and Taylor Bean Offices in Florida
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Executing two search warrants on Monday, agents from the Office of the Special Inspector General for the Troubled Asset Relief Program (TARP) raided the Florida offices of Colonial BancGroup and the wholesale mortgage lender Taylor, Bean & Whitaker Mortgage. The raid follows the fizzling out of a financial deal between the two companies!
Washington News
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- Whole Foods reports 26% rise in 3Q profit; beats analyst’ expectations
- Dell says IT demand stabilizing; to post sequential increase in Q2 sales
- Oil veteran Pickens puts on hold the plans for mega wind farm in Texas
- US regulators close seven banks – six in Illinois, one in Texas
- Dell developing pocket-size, Android-based, Internet device
India News
- Naval Chief says investigation of North Korean ship is going on
- Buy Siemens Ltd For Long Term: Abhishek Jain, Stocksidea.com
- MJ had lethal amount of anaesthetic in system, says leaked autopsy report
- India relaunches auction of areas for oil and natural gas exploration
- Manmohan Singh assures states of support in tackling drought
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