Business

The Indian Rupee has been losing it’s value at historic rates while it has been trying to stabilize itself with no positive outcome. India’s rupee sank down to 65.04 against the US Dollar, all this while the Reserve Bank of India (RBI) and the government have been in crisis management for the past several months to stop the collapse of ... Read More »

Yahoo shares today reached a five-year high. The sudden spike in Yahoo’s shares comes as a surprise even though there were mixed earnings report. Yahoo did however manage to beat the profit estimates but that doesn’t seems to be the only reason for the market to cheer for Yahoo. Yahoo has indeed performed really well and Yahoo’s CEO Marissa Mayer ... Read More »

As the Eurozone crises continues S&P has downgraded Italy’s sovereign rating by one notch! Italy’s sovereign rating has been downgraded from BBB+ to BBB. Italy’s poor economic prospects which seems to get worse with time passing is attracting much negative attention. Standard & Poor’s Ratings Services is downgrading Italy’s credit, saying the country’s economic prospects are getting weaker. S&P lowered its long-term ... Read More »

IBM Layoffs – IBM has slowly and silently started laying off its employees worldwide according to a report. IBM said back in April it has plans to shrink its work force and spend $1 billion on severance and other costs to get there. But Laurence Balter, an analyst at Oracle Investment Research says that this would add up to somewhere ... Read More »

Bank of America $60 billion – Bank of America seems to have got into a lot of trouble and it could be penalized with $60 billion over lawsuits related to mortgage-backed securities which includes 530 mortgage truts sold by Countrywide. The Motley Fool website’s Amanda Alix writes that some analysts have speculated that the loss would be attributed to a ... Read More »

The largest e-commerce site in the internet eBay is set to all out against the Congress to stop the sales tax legislation. eBay wants to recruit users to fight against this piece of legislation. eBay Inc CEO John Donahoe has started sending out emails to millions of it’s users on Sunday requesting them to lobby in favor of dumping the ... Read More »

The United States Postal Service(USPS) is losing $25m a day. But the Congress is least bothered about it and they want to keep the service running as it is. The Congress has voted against any budget cuts for the USPS. Congress has voted that they would like to keep the Saturday delivery services running. Congress foiled the financially beleaguered U.S. ... Read More »