Verizon has five days to iron out differences with unions representing 39,000 workers of Verizon. About 86 percent of employees of the giant phone and internet service provider in the U.S. spread in nine states favor a strike, if necessary.
With the anticipated release on Monday, July 27, of the second quarter report of Chinese tech giant Baidu, analysts are more than just expecting the company to report a 38 percent hike in its revenue and 8.9 percent increase in net profit compared to a year ago. Baidu's forecast is Q2 earnings of $2.6 billion to $2.7 billion, up 36 to 40 percent.
Qualcomm announced 15 percent job cuts and a plan to execute strategic transformation to reduce its operating costs on July 22 . The aim is to recover its working margin by cost reductions by $1.4 billion.
A planned acquisition by health insurer Anthem of the Cigna Group would create the biggest health insurance company in the U.S. valued at $48.3 billion. It would dwarf the buy-in by Aetna of Hamana for $37 billion, announced a few weeks ago.
Slowdown in the global economy continued to be felt in the markets as three major indices registered steep weekly declines on Friday trading. The S&P 500 index suffered its fourth consecutive losing week, registering a drop of 22.5 points or 2.2 percent, ending the week at 2079.65.
U.S.-based retailer Walmart Stores Inc. has taken full ownership of Yihaodian, a fast-growing Chinese e-commerce enterprise, after acquiring the 49 percent of the company shares that it did not already own, according to a press release sent by Walmart on Thursday, July 23, to the Global Times.
China's medical equipment firms are preparing to tap the high-end market sector and increase their share in the market dominated by leading foreign brands, such as Philips, General Electric and Siemens, among others.
More Chinese companies were able to make it to this year's Fortune Global 500. In the list, companies are being ranked by their total revenues for their respective fiscal years.
U.S. regulators urged the China Construction Bank to do more about and act upon the issue of money laundering it faces. The bank is currently being asked to address its New York branch's risk management and compliance deficencies.
Vice President Joe Biden once called LaGuardia Airport in New York "an airport out of the Third World." Friday's chaos at the international gateway confirmed the VP's observation.
Chinese Internet companies interested to invest in the health sector have failed to address several challenges related to mobile applications for medical services, Sina's technology blog said.
Data Systems Consulting, Taiwan's largest supplier of enterprise resource planning (ERP) systems, and industrial computer maker Advantech have collaborated to provide solutions and boost efficiency in manufacturing, the two companies announced in a press conference on Tuesday, July 21, following the partnership.
Chinese e-commerce giant Alibaba Group Holding Ltd. formally signed a strategic partnership agreement with British-Dutch company Unilever to help the consumer products group reach more Chinese shoppers.
Thanks to the Amazon Web Services, the online giant's cloud computing business, Amazon reported on Thursday an 81 percent jump in its revenues to $1.8 billion. The business just added $40 billion to Amazon.com's market value to $262.18 billion.
Xurpas Inc, the largest Philippine information technology company, aims to be the Tencent Holdings Ltd. of Southeast Asia. Tencent is now one of the largest Internet companies in the world, competing with Amazon, Google and eBay.
