CIT Group Files for Bankruptcy
November 1, 2009 by Roy Sackloth · Leave a Comment
The bondholders of the company, the largest of which is the well known Carl Icahn, one of the founders of the internet, said it would fund the restructuring process of the company as it try to exit from bankruptcy as soon as possible. CIT Group, the 101-year old American commercial and finance company filed Chapter [...]
Pfizer lawsuit leads to settlement
September 2, 2009 by Roy Sackloth · Leave a Comment
The world’s largest research-based pharmaceutical company, Pfizer, recently agreed to settle with the US Justice Department against the lawsuit filed against them for ilegally marketing their drugs. The settlement, amounting to $2.3 Billion, is the largest national settlement in US history! “Pfizer promoted the sale of Bextra for several uses and dosages that the FDA [...]
Walt Disney To Acquire Marvel for $4 Billion
August 31, 2009 by Roy Sackloth · Leave a Comment
Walt Disney Co., the world’s largest media company has just acquired Marvel in a $4 billion deal in cash and stock adding the line up of comic-book characters like Spider Man and Iron Man to its roster of action stars. Marvel stock owners will receive a $30 a share plus 0.745 share of Disney stock. [...]
Mobile Banking in Nokia, Soon!
August 31, 2009 by Roy Sackloth · Leave a Comment
CNET Asia reported that Nokia will be offering financial services and mobile banking early next year. As Damian Koh reported, “This is based on US mobile payment solutions provider Obopay’s platform and will allow both Nokia and non-Nokia handset users who don’t have a bank account to carry out basic financial transactions in selected emerging [...]
Twitter fails to trademark "Tweet"
August 21, 2009 by Roy Sackloth · Leave a Comment
“The world known micro-blogging web application, Twitter, has failed in its initial attempts to trademark the word “tweet,” which has been adopted by the site’s users as their favorite verb to describe the act of telling the online world what they are up to”, said James Quinn of Telegraph.co.uk. Twitter is a free micro-blogging service [...]
Angela Merkel is still no. 1 in Forbes' Top 100
August 21, 2009 by Roy Sackloth · Leave a Comment
Angela Dorothea Merkel, current Chancellor of Germany, is still no. 1 on Forbes Top 100 Most Powerful Women in the world! After replacing Condoleezza Rice, the 66th United States Secretary of State, from the top spot since 2006, she is constantly the most powerful woman in the world. Angela Merkel ranked first since 2006 until [...]