Kodak files for bankruptcy protection,to stop making digital cameras
Tweet London: Photography giant Kodak has said it will stop making digital cameras in the next six months, a media report said Sunday. The 130-year-old Eastman Kodak Co, which invented the digital camera in 1975, has now said it will try to licence its brand to other camera manufacturers, the Daily Telegraph reported. Kodak has [...]
Tweet London: Global banking giant HSBC will cut 330 jobs in Britain due to "the very challenging economic environment". The job cuts will mainly come from the commercial banking arm of HSBC in Britain, Xinhua reported. The bank is also shedding jobs in retail banking, wealth management and technology services. "Every effort is being made [...]
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Tweet Helsinki: Nokia Siemens Networks is planning to cut its workforce by 17,000 worldwide by the end of 2013, the company said in a statement from Finland. The company said the measures were part of an extensive global restructuring programme, in which it will focus on mobile broadband and services, Xinhua reported. "We need to [...]
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Tweet Washington: Citigroup's Indian American Chief Executive Vikram Pandit says last week's collapse of MF Global Holdings Inc. proves that the financial world needs ever more transparency on disclosure and derivatives as well as a better way to regulate non-banks. Advocating putting derivatives on clearinghouses and exchanges, Pandit Monday pointed to MF Global's European exposures, [...]
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Tweet Rome: Italian consumer confidence in October fell to its lowest level in more than three years amid concern that efforts to cut spending in Europe's second most indebted country could lead to recession. The sentiment index fell to 92.9 from 94.2 in September, Rome-based national statistics office Istat said Tuesday. It was the lowest [...]
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Tweet London: Swiss banking giant UBS, which employs 6,000 staff in Britain and 65,000 across the world, will chop 3,500 jobs, a media report said. The job cuts were part of the bank's bid to save 1.5 billion pounds by the end of 2013, the Daily Express reported. The cuts will come predominantly from its [...]
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Tweet Washington : US President Barack Obama is touting the revival of a bailed-out auto company as a vindication of his administration’s controversial decision to bail out the financially strapped auto industry last year. A week after General Motors’ post-bankruptcy stock sale smashed records on Wall Street, Obama told an assembled group of autoworkers at [...]
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Tweet London : The British government is poised to sell off some of the country’s struggling banks bailed out and nationalised in the wake of the global financial meltdown, it was reported Sunday. Northern Rock, Royal Bank of Scotland (RBS) and Lloyds Bank are all set to be sold to the [...]
Continue reading …Tweet A new study released today by the Families and Work Institute (FWI) finds that in the face of recession, and at a time of cost cutting, the overwhelming majority of employers (94%) are maintaining or increasing their workplace flexibility programs. In fact a quarter of the employers (26%) specifically used flexible workplace options — [...]
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