BP, the London-based energy company that owns the oil well that exploded in the Gulf of Mexico on April 20th and killed 11 workers, made its first payment to the trust fund founded to pay for damages to the Gulf. The payment was the first $3 billion of what was agreed to eventually grow to [...]
Chief Executive Officer Mark Hurd has resigned from office at Hewlett-Packard Co (HP). He has left behind him inaccurate expense reports, an alleged relationship with Jodie Fisher, a contractor, and Cathie Lesjak to deal with a company that is slowing down as its senior executives fight for the new position as boss. Abhey Lamba, an [...]
News of the Russian export ban has worried everyone. Reports from Russia state that there has been little to no rain within the country for the past three months. Crops have been ruined, and officials worry that the wheat production will be reduced to half of what it was the previous year. While hot summers [...]
The Middle East and Research in Motion, the developers of the BlackBerry, ae in the middle of a conflict that has actually been on-going for years. For three years now, according to a source who wished to remain anonymous, UAE regulatory laws have been “on the books”. Now things are approaching a speeding halt: if [...]
Crews working on the BP oil spill are nearing the end after adding cement on to the mud that is currently keeping the well closed. The plug, called a static kill, was performed Thursday, and workers had to wait a day for it to harden. After the wait is over, crews can get in to [...]
The TransCanada Corporation has made changes to a plan to run a pipeline to the U.S. Gulf Coast from Canada. The line would allow the Gulf refineries to have a direct link to Canada’s oil-sands. The system, TransCanada’s $12 billion Keystone system, would be run at a higher-than-normal pressure, and worried U.S. politicians and environmental [...]
Barnes & Noble have said that it was reviewing strategic alternatives after suffering from an ongoing decline in sales and income. However, one of those alternatives could be actually putting the company up on the block. Leonard Riggio, who family has run the company, would like partners for bidding, but so far none have stepped [...]
The United States Export-Import Bank will be lending the Ford company $250 million dollars. The purpose is to sell 200,000 cars made in American to Canada and Mexico, in an effort to increase hiring in the middle of a low for jobseekers. Announced today by the White House, this loan will finance $3.1 billion in [...]
The United Arab Emirates are at it again. Last year, Etisalat, a UAE state-owned mobile operator, advised the company’s Blackberry users to install a “service upgrade” that later turned out to be spy software intended to allow authorities to view private information on the cell phones. On Sunday, August 1st, the UAE made an announcement [...]
On Friday, the Walt Disney Company announced that it had officially agreed to sell its Miramax Films to an unmentioned investor group. The price was listed at about $660 million. This will be the end of a six-month bidding process, as well as a 17-year association. Despite its success, Disney has stopped investing in its [...]