Posts Tagged ‘firm’

Android-powered smartphones dominated market in second quarter

According to the International Data Corporation, the Android operating system dominated Apple’s iOS operating system in the smartphone market during the second quarter. The research firm reported that the Apple iOS-powered iPhones shipped more than 26 million units while Android-powered smartphones shipped 104.8 million units. Article © AHN – All Rights Reserved Economy, Business And […]

Knight Capital Group given $400-M lifeline

Nathan Andrada – Fourth Estate Cooperative Contributor New York, NY, United States (4E) – Knight Capital Group got a $ 400mn infusion from Wall Street investors after a frantic rush by the brokerage firm to raise much needed capital following a massive computer glitch last week. Knight Capital performs huge volumes of trades at the […]

Computer glitch costs brokerage firm Knight Capital $440-Million in losses

Major brokerage firm Knight Capital Group said on Thursday it suffered a $ 440mn loss due to a trading glitch that sent panic waves to the stock market and revived concerns over electronic trading. The massive pre-tax loss has severely impacted the company’s capital base, according to the Jersey City, N.J.-based firm. Article © AHN […]

RIM ordered to pay $147M for patent infringement

A jury in California ruled on Friday that Research in Motion (RIM) infringed on a patent of New Jersey software firm Mformation Technologies and ordered the BlackBerry maker to pay $ 147.2 million in damages. Article © AHN – All Rights Reserved Economy, Business And Finance Stories

Apple settles iPad trademark dispute with Chinese firm for $60M

Apple Inc. has agreed to pay Shenzhen-based Proview Technology $ 60 million to settle their iPad trademark dispute, the Higher People’s Court of Guangdong Province announced on Monday. Article © AHN – All Rights Reserved Economy, Business And Finance Stories

Chinese-Swedish firm buys Saab

Bankrupt automaker Saab has been sold again, this time to a Chinese-Swedish investment group that has plans to turn the brand into an electric car. Article © AHN – All Rights Reserved Economy, Business And Finance Stories

Consumer confidence down in May to five-month low

Consumer confidence plunged in May to its lowest level in five months, according to a survey released Tuesday by business research firm The Conference Board. The survey revealed an overall index reading of 64.9 in May, down from 68.7 in April. Article © AHN – All Rights Reserved Economy, Business And Finance Stories

Japan chip maker Renesas to lay off 14,000 workers, sell plant

Struggling Japanese microcontroller chip maker Renesas Electronics Corp. is laying off 14,000 employees, a third of its workforce, and selling its fabrication plant to a Taiwanese firm, according to reports and unnamed sources aware of the plan. Article © AHN – All Rights Reserved Economy, Business And Finance Stories

FBI probes JPMorgan’s $2 billion trading loss

The Justice Department is investigating the $ 2 billion trading loss of financial firm JPMorgan Chase & Co. with its sub-agency Federal Bureau of Investigation (FBI) leading the inquiry, according to an unnamed source cited by the Wall Street Journal. Article © AHN – All Rights Reserved Economy, Business And Finance Stories

Fired dockworkers get $400,000 settlement in age discrimination lawsuit

Eight former dockworkers from Texas fired in 2007 because of their age are getting $ 400,000 settlement from a trucking firm after the U.S. Equal Employment Opportunity Commission (EEOC) won an age discrimination lawsuit filed on their behalf. Article © AHN – All Rights Reserved Economy, Business And Finance Stories