As part of a plan to save more than $1 billion annually following its merger with networking hardware rival Alcatel-Lucent SA, Nokia will reduce as much as 14 percent of its workforce and would be cutting jobs across the globe.   There were reports in the media quoting people familiar with...

Resolving years of litigation over the worst offshore spill in the US history, a federal judge in New Orleans granted final approval on Monday to an estimated $20 billion settlement over the 2010 BP oil spill in the Gulf of Mexico.   $5.5 billion in civil Clean Water Act penalties and...

In 2014 itself the Rockefeller Brothers Fund (RBF) had divested from fossil fuel. The Rockefeller Family Fund has stated Exxon Mobil Corp has misled the public and its shareholders on the risks of climate change. The Rockefeller Family Fund has stated the Exxon Mobil Corp has misled the public...

In its ruling the SEC has said Exxon Mobil must adopt a climate change resolution in its next shareholder’s meeting in May this year. In what has been seen as a sign of defeat for the world’s biggest publicly traded oil producer, the Securities and Exchange Commission (SEC) of the United States has...

The court proceedings could drag on for two more weeks. The proposed merger of Office Depot Inc. with Staples Inc. got a little more complicated with an executive from Amazon providing testimony which bolstered the existing wariness of U.S. regulators a propos this deal.   Last year the U.S....

Government prosecutors have now said a third party will help the FBI gain access to the San Bernardino shooter’s iPhone. On its part Apple said it hoped the government would share the new discovery. However, if the government were to drop the case against Apple, it will be under no compulsion to...

Samsung does not see any material impact in its business arising out of concerns from Foxconn’s takeover of Sharp Corp, a manufacturer of display boards. As per a senior Samsung executive, the electronic manufacturing giant does not perceive any significant threat to its television business in the...

Having spent $5.1 million over a period of 4 years in lobbying expenses, ZTE has managed to secure a temporary relief from Iran specific export curbs. As per a senior official from the Department of Commerce, the U.S. government plans on proving ZTE Corp with temporary relief measures, lifting the...

Apple has once again refused to comply with the DOJ’s demand. This interesting case could be rather important, pregnant with enough complexities and with no clear right or wrong, it wouldn’t be surprising if it becomes historically important. In the latest Apple has once again said it would be...

A German court has dismissed a customer’s plea to return his VW sports utility vehicle. The plaintiff will appeal to a higher court. In a significant ruling in favor of German auto manufacturer Volkswagen, a German court has dismissed a customer’s plea who wanted to cancel the purchase of his...

Ironically the suit has been filed in its home town of Lower Saxony, which is its second biggest shareholder. A law firm representing 300 institutional investors who have filed a multi-billion euro lawsuit against German car manufacturing giant Volkswagen has said its clients have done so since VW...