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Corporate news

Syriza triumphs: Cameron defends austerity, British left say ‘hope has won’
Syriza's Greek election victory has dealt a blow to Eurocrats’ austerity agenda. As the European left celebrated the party's triumph, UK Prime Minister David Cameron warned the result will prompt further “economic uncertainty” in Europe.

26.01.2015 09:18

17,600 Canadian employees ready to eat former Target exec alive over severance pay
Social media users have come down heavily on the former CEO of Target after it turned out he reportedly received a walk-away package worth about the same as what was offered to all 17,600 employees of the chain, which is closing its stores in Canada.

23.01.2015 05:41

Total to slash spending on US shale and North Sea projects
The French oil major is to deeply cut investment in US shale and dramatically reduce North Sea field expansion in the UK as the oil price plunges, its CEO said at the Davos forum.

21.01.2015 14:39

Baker Hughes slashes 7,000 jobs as falling price forces Big Oil austerity
The world's third largest oilfield services company Baker Hughes Inc. plans to slash 7,000 jobs due to reeling oil prices, which are pushing big oil to cut production and new projects.

21.01.2015 09:11

‘Alarming’: Whitehall official accused of pro-EU lobbying, impartiality breached
As pressure grows to call a referendum on the UK's EU membership, a senior Department for Business official faces allegations of impropriety amid revelations he offered pro-EU lobbyists tips on challenging Eurosceptic arguments.

19.01.2015 09:23

Monsanto gets approval for new GMO corn, soybeans designed for potent new biocide
Monsanto has won final approval from the US for its new genetically-modified soybeans and cotton, designed to withstand a dominant biocide that fights weed resistance built up as a result of the company’s glyphosate-based Roundup herbicide already in use.

16.01.2015 16:23

Nuclear waste trains to carry UK passengers
A state-owned British train company that transports the nation’s nuclear waste is due to offer a passenger service along the Cumbria coast in northwest Britain, as demand for train travel rises and the UK’s railway network struggles to keep up.

16.01.2015 15:06

BP avoids maximum punishment, faces $13.7bn fine over Gulf oil spill
UK oil giant BP faces a maximum $13.7 billion in penalties from the Deepwater Horizon Gulf of Mexico oil spill in 2010, which many claim to be the worst environmental disaster in US history. The fine is much less than the $18 billion feared.

16.01.2015 08:07

JPMorgan bank shows unexpected drop in profit over legal costs
Beset by legal costs exceeding $1 billion over the alleged rigging of foreign exchange markets, JPMorgan Chase reported a 6.6 percent fall in quarterly profit, leading CEO Jamie Dimon to claim that "banks are under assault."

14.01.2015 15:07

​Major oil companies pull projects from Greenland
Major energy companies such as Norway’s Statoil, France’s GDF Suez and Denmark’s Dong Energy have decided to end projects in Greenland as oil exploration there has became too expensive and risky.

14.01.2015 07:44

McDonald’s ad references nat’l tragedies, inspires ‘snarky disbelief’, parodies
Not everyone is loving McDonald’s newest ad. While some people were moved by the montage of signs outside its restaurants, others thought the notes referencing national tragedies like 9/11 or the Boston bombing were in poorer taste than the ribless McRib.

13.01.2015 20:12

Coca-Cola to cut as many as 1,800 jobs globally
Coca-Cola plans to cut 1,600 to 1,800 jobs across the globe as it seeks to save $3 billion in costs in the coming years.

09.01.2015 18:25