Indian born economist Gita Gopinath has been appointed as the Chief Economist of International Monetary Fund by IMF Managing Director Christine Lagarde. Gita will be replacing Maury Obstfeld. He announced that he will be retiring at the end of 2018 in July. She currently serves as the John Zwaanstra Professor of International Studies and Economics at…
Novartis International AG, a Swiss multinational pharmaceutical company based in Basel, will cut around 2,550 jobs in Switzerland and UK over the next 4 years as the pharmaceutical firm is planning to boost its revenue and focus on new medicines. It is one of the largest pharmaceutical companies by both market capitalization and sales. The Swiss drugmaker…
Finland based telecommunications and consumer electronics company Nokia has cut 250 jobs at its site in Naperville, United States, and it is speculated that another 250 workers will lose their positions, a report by Crain’s Chicago Business said late on Monday. A Nokia spokesman confirmed to New York Times that jobs had been cut as part…
Andersen Global named the members of the European Regional Board of Directors. This regional board will advise the global organization on issues critical to the continent to ensure that the group is working in a seamless way across the different countries of the region, practice areas, industries and also on the management of common protocols.…
Tata Consultancy Services (TCS), leading global IT services, consulting and business solutions organization, has been recognized as one of the Achievers 50 Most Engaged Workplaces™ in North America for the sixth consecutive year. This annual award recognizes top employers that display leadership and innovation in engaging their workplaces. TCS received the award in North America for building an energized and…
ArcelorMittal has confirmed through a press release that on 10th September 2018, it submitted a revised proposal to Essar Steel India Limited’s (ESIL) Committee of Creditors for the acquisition of ESIL. They also confirmed that the media reports speculating on the financial value of the revised offer are broadly accurate. The revised offer, which also…
Rajalakshmi Nandakumar, an India born Ph.D. candidate at the University of Washington’s Paul G. Allen School of Computer Science & Engineering will be honored, with a 2018 Marconi Society Paul Baran Young Scholar Award for her work to enable the detection of potentially life-threatening health issues using commonly available smartphones. She received her bachelor’s degree in Computer…
The Conference Board Employment Trends Index™ (ETI) increased in August, after increasing in July. The index now stands at 110.88, up from 109.58 (a downward revision) in July. The change represents a 6.9 percent gain in the ETI compared to a year ago. “The Employment Trends Index continues to accelerate, with this month’s year-over-year increase…
Tesla Inc., is facing the exit of its two senior executives. The news of exit of these executives comes while we have been seeing the video of Elon Musk smoking marijuana during an interview. The interview was streamed live online. As per Bloomberg reports, Tesla’s Chief People Officer, Gaby Toledano, who had joined in May 2017…
The Board of Directors of Rockwell Automation, Inc. (NYSE: ROK) today authorized the company to expend up to an additional $1 billion to repurchase shares of Rockwell Automation common stock. This is in addition to the authorization on January 15, 2018, to repurchase $1 billion worth of common stock, of which approximately $245 million was…
Private sector employment increased by 163,000 jobs from July to August according to the August ADP National Employment Report®. This report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total non farm private employment each month on a seasonally-adjusted basis.…
Novartis today announced it has agreed to sell selected portions of its Sandoz US portfolio, specifically the Sandoz US dermatology business and generic US oral solids portfolio, to Aurobindo Pharma USA Inc., for USD 0.9 billion of cash plus USD 0.1 billion of potential earn-outs. This transaction supports the Sandoz strategy of focusing on complex…
Tesla and Elon Musk both have agreed to pay $20 million to financial regulators each and the billionaire will step down from the chair of Tesla for three years after reaching a deal with the US financial regulator over tweets he made about taking the firm into private ownership. Under the settlement, Musk would remain as…
The Coca-Cola Company has reached a definitive agreement to acquire Costa Limited from from parent company Whitbread PLC in a deal valued at $5.1 billion ( £3.9 billion ). Costa was founded in London in 1971 and has grown to become a major coffee brand across the world. Whitbread acquired Costa in 1995, from its founders Sergio and Bruno…
Cognizant (Nasdaq: CTSH) has opened its newest U.S. regional technology and service delivery center in Irving, Texas. The opening follows a November 2017 announcement by Texas Governor Greg Abbott on the company’s plan to invest more than $8 million to expand in Irving and create 1,100 new jobs by 2023. With its U.S. operations headquarters in College Station, Texas, Cognizant is a global leader in business, digital and technology…