The world's oldest bank Monte dei Paschi di Siena, the third in terms of assets in Italy, intends to lay off 2.6 thousand employees and close 500 branches before the end of 2019. The organization also aims to sell a portfolio of non-performing loans within the framework of a large-scale...

Even as losses were capped by Iran saying it would encourage other members to join an output freeze, Iraq said it wanted to be exempt from an OPEC deal to cut production. This announcement resulted in the fall of crude oil prices on Monday.   While U.S. West Texas Intermediate (WTI)...

DDos paralysed many internet sites for quite some time. Last week, on Friday many of the “most popular” internet sites were down for quite some following a “suspected” cyber-attack on them, whereby “disabling web technology provider Dyn” in turn.   Among the affected firms caused by the...

Advertisers are cutting advertising expenses in the print media. This year, the rate may drop to 8.7%, up to $ 52.6 billion. This is a record number since the fall of the crisis of 2008 to 2009. Expenditure on advertising in the print media on the basis of 2016 will decline by 8.7% throughout the...

'Uber for bikes' is what China's tech industry is betting will be the country's next big internet craze and the tech giants are sloughing hundreds of millions of dollars into this.   The he humble bicycle is making a comeback which was a symbol of China's cities long before a boom in cars,...

Giving the telecom company AT&T Inc control of cable TV channels HBO and CNN, film studio Warner Bros and other coveted media assets and paving the way for what would be the biggest deal in the world this year,, the telecom company has reached an agreement in principle to buy Time Warner Inc...

GSK seeks for ways to “contribute” in easing “access to medicines” worldwide. Last week, GlaxoSmithKline, the giant among the “London-listed pharmaceuticals”, reported of its “evolving” approach towards “filing and enforcing patents”, whereby reflecting “a country’s wealth” through “IP protection”....

If BAT’s proposed offer were to realise, the company would take a leading place in the “high value” market of the United States. BAT, meaning the British American Tobacco, has put up an offer of purchasing Reynolds American Inc’s “U.S. tobacco company” for a deal of “$47 billion”, whereby bringing...

Tesla has plans up its sleeves to introduce a shared ‘services program’. In the coming year Tesla Motors Inc. will make detailed announcement of its plans on rolling out “a ride services program”, while the same has been “outlined” in the “master plan” of the chief executive, Elon Musk, which he...