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Corporate news

Merrill Lynch unveils $8 million ‘boys club’
The entrance ticket to the new “Pinnacle Club” at Merrill Lynch is now $8 million, as the sum top brokers need to produce in commissions and fees has doubled. The joys of membership include $10,000 in cash and additional benefits, Reuters reports.

22.04.2014 07:31

​Consumers may be barred from suing General Mills for ‘liking’ company on Facebook
Under a new privacy policy, Fortune 500 corporation General Mills claims that anyone who has received anything from it that can be deemed a benefit – even agreeing to “like” it on Facebook – withdraws rights to sue the company.

17.04.2014 03:00

More time for saunas? Sweden tries cutting working day to 6 hours
​The local government of Gothenburg, Sweden, is to begin a yearlong experiment to see if cutting the working week to 30 hours will be more efficient. It is hoped working less hours will cut down on sick leave, and save money.

10.04.2014 11:39

US corporations holding more than $2.1 trillion in untaxed profits overseas
According to a new report, more than $2 trillion worth of profit generated by some of the biggest United States-based corporations is being held overseas where it’s not subject to US income tax law.

09.04.2014 17:31

​Fast move: Burger King to enter Crimea after McDonald’s quit
Burger King says it will open restaurants in Crimea, following McDonald’s decision to suspended activities and close its three restaurants on the peninsula.

09.04.2014 12:14

Gas wars: Ukraine due on $2.2 bn debt to Gazprom
Another potential gas war between Kiev and Moscow looms as Ukraine is due Monday to pay a $2.2 billion debt to Russia’s Gazprom. Ukraine’s PM has called the new gas prices "unacceptable" and purely "political".

07.04.2014 10:08

Not ‘lovin' it’ in Crimea: McDonald’s suspends operations for ‘manufacturing reasons’
​Ukrainian McDonald’s Ltd, a subsidary of the world’s largest fast food chain, has temporarily closed its doors in Crimea because of “manufacturing reasons.”

04.04.2014 11:11

​World’s top record labels sue VKontakte for allowing piracy
Sony Music, Universal Music and Warner Music have together filed legal action against Russia’s biggest social network VKontakte (VK) for “deliberately facilitating piracy on a large scale.”

04.04.2014 11:10

April Fool? CEO of Russia’s Facebook withdraws resignation
The founder of VKontakte, Russian biggest social network, Pavel Durov has withdrawn his resignation as the company’s CEO, after saying he was leaving on April 1. Posting his resignation on April Fools' day was a hint it wasn’t final, Durov said.

03.04.2014 10:44

GM saved only a dollar per car by avoiding defective switch redesign
Instead of recalling defective vehicles when it noticed they were built using flawed ignition switches, General Motors opted not to make any changes due to the fact that it would’ve cost an extra dollar per car, a new report by Reuters states.

02.04.2014 14:58

​Founder and CEO of Russia’s biggest social network resigns
Pavel Durov, the founder of the so-called "Russian Facebook" said on Tuesday he is leaving his position as the company CEO.

01.04.2014 11:54

​Wal-Mart sues Visa for $5bn over 'excessive' card fees
The world’s biggest retailer Wal-Mart is suing Visa for $5 billion for excessively high card swipe fees between 2004 and 2012.

28.03.2014 06:33

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