Business

Chipotle Mexican Grill is in trouble as U.S. Securities and Exchange Commission has started investigations against the the restaurant chain for allegedly hiring undocumented illegal workers. All fingers seems to point Chipotle as the Danver-based company fired about 500 employees a year back following audits by the U.S. Department of Homeland Security’s Immigration and Customs Enforcement (ICE) arm. Chipotle said ... Read More »

News sources are suggesting that Hewlett-Packard is planning on cutting a minimum of 25,000 jobs i.e., 8 to 10 percent of its workforce. The new CEO of HP Meg Whitman is struggling to bring a change in the company and turn it around. Looks like he is making the same moves every struggling company does, cut down on its workforce. ... Read More »

Companies that were once the pioneers in their fields spearheading the field of technology and electronics with their innovation, manufacturing unmatched gadgets that were in high demand, reporting profits that attracts envy from every other company who are now struggling to just stand-up. Thanks to new and emerging technologies companies that failed to quickly adapt them have been falling back ... Read More »

Yahoo will be replacing it’s CEO again. Yahoo’s CEO Scott Thompson stepped down on Sunday just after 4 months on the job. Yahoo went an extra mile to hire Scott Thompson by offering him attractive pay package. It seems Scott’s lie in his resume though was excused by other investors, Daniel Loeb couldn’t accept it. Chief Executive Scott Thompson stepped ... Read More »

In a historic move, the Federal Reserve has cleared and allowed China’s Biggest Bank ICBC to takeover a US bank by a Chinese state-controlled company. Just days after high-level US-China economic talks in Beijing, the Federal Reserve approved an application from Industrial and Commercial Bank of China to buy a majority stake in the US subsidiary of Bank of East ... Read More »

Sony Corporation continues to rack up massive losses. Today the company reported a record annual loss of 457 billion yen($5.7 billion). This is the fourth straight year that Sony has reported a loss. Sony, the once-glorious maker of the Walkman and PlayStation struggles toward a turnaround under a new president. The electronics and entertainment company, which also makes “Spider-Man” movies, ... Read More »

Japan’s Suzuki Motor said Monday it will recall about 109,000 Swift subcompact cars worldwide, half of them in Japan, to repair a defect that may cause petrol leakage. The cars were produced between September 2010 and last month with 55,146 of them shipped to the domestic market and 53,801 others exported outside the country, including Australia, Mexico, and Europe, a ... Read More »