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GameStop Revenue and Profit Surpass Expectations Owing to Strong Sales of “Mortal Kombat X” and “Evolve

UAE News - Fri, 05/29/2015 - 12:08

In the first quarter, GameStop Corp, which is the largest video game products retailer in the world reported revenue and profit, which surpassed the expectation of analysts. The boost in revenue was mainly helped by higher sales of "Mortal Kombat X" and "Evolve", newly released games and also a boost in downloads of mobile games.

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Categories: UAE News

Japan’s Weak Consumer Spending is Disappointing Pushing Inflation Rate to Zero

UAE News - Fri, 05/29/2015 - 12:07

On Friday, data released by Japan revealed that Prime Minister Shinzo Abe's plan of economic revival for the country is not going quite in the direction that he expected. Though the manufacturing activity is becoming better and the employment figures are climbing, yet the nation's consumer spending figures still is persistently frail and the annual inflation rates are going down.

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Categories: UAE News

FBI Starts Probing the Cyber theft of U.S. Taxpayer Information from IRS “Get Transcript” Application

UAE News - Fri, 05/29/2015 - 12:05

On Tuesday, John Koskinen the IRS Commissioner said that hackers have attempted to accessed personal tax information of the tax payers 200,000 times within the time period of February to May. He also said that they successfully stole information in almost half of their attempts.

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Categories: UAE News

Costco Wholesale Corp Reports Nine Percent Increase in Profit for its Fiscal Third Quarter

UAE News - Thu, 05/28/2015 - 11:07

On Wednesday, Costco Wholesale Corp reported a nine percent boost in its profit for the third quarter last year. The increases mirror the company's gains from higher comparable sales, raised membership fees.

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Categories: UAE News

San Diego Union-Tribune Announced that it is Laying Off 178 workers

UAE News - Wed, 05/27/2015 - 11:44

On Tuesday, the San Diego Union-Tribune announced that it was trimming its workforce. It will be laying off approximately thirty percent of its staff which comes to 178 employees. The job cutting is part of a cost saving effort that mostly affected the printing and delivery operations.

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Categories: UAE News

Vox Media is Buying Re/code the Tech News Website

UAE News - Wed, 05/27/2015 - 11:33

On Tuesday, a post on the website of Re/code revealed that, Vox Media, which owns The Verge, is buying Revere Digital. Revere Digital is also the owner of the Re/code which is a tech news website. Recode was founded by Silicon Valley veterans, Walt Mossberg and Kara Swisher.

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Categories: UAE News

Gold Remains Close to Two-Week low as Expectations of Hike in Interest Rates in the U.S. Lingers

UAE News - Wed, 05/27/2015 - 11:30

On Wednesday, the yellow metal remained at almost a two weeks low following a drop of two percent in the earlier session. The status of gold remained low as the strengthening US economic data brings in hopes of THE Fed Reserve increasing the record low interest rates.

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Categories: UAE News

Memorial Day Weekend, Travellers Hit the Road with Rising Gas Prices

UAE News - Mon, 05/25/2015 - 10:45

It’s time for the Memorial Day weekend and people are packing their bags to hit the road. The fun summer time travel gets some dampening effect from a hike in fuel prices almost every year.

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Categories: UAE News

Renewable energy Tops the Agenda List for the Indian Government

UAE News - Mon, 05/25/2015 - 10:42

Renewable Energy tops the list of the agenda for the NDA government. Earlier the MNRE or the Ministry of New and Renewable Energy in New Delhi which was considered as a step-down posting by the bureaucrats no more is considered as a less visible ministry.

The government has made it a primary focus in an effort to make India less dependent on power fuelled by coal.

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Categories: UAE News

GM May Have to Pay Record High Penalty for Ignition Switches

UAE News - Mon, 05/25/2015 - 04:50

The U.S. government is deciding whether General Motors or some of the company's employees will be facing criminal charges for faulty ignition switches in some of the models delivered by the car maker said a source that is familiar with the investigation.

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Categories: UAE News

West Coast Port Troubles End with New Agreement

UAE News - Sat, 05/23/2015 - 09:17

On Friday, the eleven months old disagreement which had slowed down activities on the ports along the West Coast, ended with the endorsement of a new accord with the Longshoremen.

A labor contract that was being worked upon for the last four months was finally signed officially by the International Longshore and Warehouse Union marking and to the slowdown that created a hold up and delay for goods and traffic coming in and being dispatched all over the world.

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Categories: UAE News

Microsoft’s Negotiations for Salesforce has Ended

UAE News - Sat, 05/23/2015 - 09:11

Microsoft seems to have dropped its bid for acquiring Salesforce, which is a global cloud computing company.

Reportedly, Microsoft had offered about $55 billion to Salesforce, which was rejected by its Chief Executive Officer Marc Benioff as he was looking for a price tag in the range of $70 billion. Salesforce, the company based in San Francisco is still under negotiation talks for a future takeover.

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Categories: UAE News

Lenovo Reports Growth in Revenues by One Fifth

UAE News - Thu, 05/21/2015 - 08:30

On Thursday, Lenovo reported a growth in revenue by one fifth for the fiscal year, in spite of the emerging competition in the smartphones and PC markets.

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Categories: UAE News

Etsy Inc. the Online Handicraft Bazaar Reports Greater than Expected Loss Owing to Higher Expenses

UAE News - Wed, 05/20/2015 - 10:43

Etsy Inc., the online crafts store, reported a greater than expected loss in its first earnings report as a public company. The main reason behind the weak profits is attributed to the expenses that are associated with a restructuring which the company said would help it lower the tax bills in future. The expenses incurred ran into millions of dollars.

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Categories: UAE News

Seventy Musicians Audition to get Approval to Play in NYC Subway Stations

UAE News - Wed, 05/20/2015 - 10:41

Although, street musicians in the New York City bring much joy to the listeners, yet everyone does not get a chance to play in the subway stations of New York City.

A large number of musicians played a number of instruments in front of a panel of judges auditioning for approval of official which will give them a chance to showcase their talents in the subways of New York City.

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Categories: UAE News

Gains Noted in Southern California Home Sales Marking a Rise in Prices

UAE News - Wed, 05/20/2015 - 10:39

Home sales as well as prices in Southern California have revealed some upward movement for a continued second month in April following a stretch of stagnation. However, the gains may be an indication of a hard summer for buyers as the supply of houses are expected to go down which is already heading for a declining supply of homes.

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Categories: UAE News

This Summer Air Travel is in Big Demand But Fares Remain Flat Making the Travellers Happy

UAE News - Tue, 05/19/2015 - 12:37

As the economy becomes better, millions of U.S families are choosing to opt for faraway vacations which they have shunned following the Great Recession. Looking at the change of temperament, the airlines say that busiest summer months are expected this year.

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Categories: UAE News

WTO Ruled Against U.S COOL

UAE News - Tue, 05/19/2015 - 12:35

On Monday, the World Trade Organization (WTO) ruled against the U.S. and said that labelling the origin where the meat was raised discriminates against the livestock coming from Canada and Mexico.

United States Country of Origin Labelling (COOL) has an issue of dispute for long, as Canada and Mexico says that it brings down the value of cattle as well as hogs that are shipped in the U.S.

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Categories: UAE News

Resolved Dispute a Go Ahead for Rio Tinto’s $5.4 Billion Mine Expansion in Mongolia

UAE News - Tue, 05/19/2015 - 12:33

After two years of tense negotiation, a US$5.4 billion expansion project of Rio Tinto PLC's mining project in Mongolia is all set to move ahead.

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Categories: UAE News

Federal Investigators did not find any Evidence of Object Hitting Windshield of Amtrak Train

UAE News - Mon, 05/18/2015 - 09:12

The U.S. federal investigators are examining the cause of the commuter train crash that happened last week in Philadelphia, but has so far not found any record of an object hitting the windshield as reported by an engineer.

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Categories: UAE News

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