Thfire.com Everyday news that matters Facebook is to spend $1 Billion to buy photo-sharing company Instagram. This is the Facebook’s largest and most expensive acquisition ever. Experts believe that $1 billion is too much for a tiny startup company with just a handful of employees and has no way to make money. But Facebook too didn’t make money in it’s early stage. It was just ... Read More »
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Sony to cut 10,000 jobs worldwide
Unable to bear the continuing loss, Sony is planning on cutting over 10,000 jobs worldwide just to make ends meet. The Nikkei business daily and other media said Sony’s decision to slash 6 percent of its work force comes as it struggles with weak TV sales and swelling losses. Sony spokeswoman Yoko Yasukouchi wouldn’t confirm the reports. New CEO Kazuo ... Read More »
Dell Acquires Cloud Client Computing Company Wyse
Looks like the future is in the Cloud as companies race towards migrating their technology to Cloud, start-ups are ruling the Cloud Arena. Dell seems to have understood this and has made it’s official entry into Cloud by taking-over Wyse. Dell has just announced the acquisition of cloud client computing company Wyse Technology to expand its desktop virtualization offerings. Financial ... Read More »
US Consumer Spending Up, What About Income ?
Time and time this graphs are always opposite. Consumer spending and cost of living is always on the raise but average income is always on the fall. To put it in simple terms the average Joe gets paid less than his father and his father got paid less than his grandfather, all this while cost of living got raising. How ... Read More »
US Jobless Claim Reaches 4-Year Low
Does this mean Obama is doing a good job ? Not really. The number of people seeking unemployment benefits has drastically fell last week, in fact it is the lowest in 4 years. Does this mean the job marking is improving ? What about the economy ? Well, everything seems to be in the sunny side. So, yes looks like ... Read More »
H&M Shows Profit Despite Lower Margins
Swedish fashion retailer Hennes & Mauritz AB (HM-B.SK) Thursday reported first-quarter profit growth as it continued to lure customers with low prices, but its gross margin was hit by high cotton costs and increased markdowns due to the warm autumn weather. The world’s No. 2 fashion chain by revenue, behind Spain’s Inditex SA (ITX.MC), said its collections were received well ... Read More »
Yahoo shareholder blasts company for board snub
A major Yahoo shareholder passed over for a seat on the troubled Internet company’s board is blasting the decision as “illogical.” Hedge fund manager Daniel Loeb described the snub as a glaring example of shoddy corporate governance in a Wednesday letter to Yahoo CEO Scott Thompson. Loeb contends he would have been a better representative for Yahoo Inc. shareholders because ... Read More »