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Company News

Adobe to Present $240 Million Tender Offer for Day Software

Adobe to Present $240 Million Tender Offer for Day SoftwareAdobe Systems said in a statement on Wednesday that it has approved to purchase Web software maker Day Software Holding in a deal worth US$240 million.

Mr. K Mahindra gets re- elected as Chairman of Mahindra& Mahindra

Keshub MahindraThe Chairman of Mahindra & Mahindra, Mr. Keshub Mahindra was re- appointed as the chairman for a term that will last the next three years. Mr. Keshub is eighty – six years old at present. However, his age was not a deterrent for the board of the company’s shareholders. Mr. Keshub was re elected for the post by popular demand.

UK shows an interest in setting up banks in India

MRFMRF saw its net profit decline recently even as the company had to factor in the increasing cost of raw materials. The Company is paying huge sums of money for natural rubber which has affected the total profit posted by the Company. In addition to raw materials the company is also dealing with high employee costs.

GE pays $23.4 million as fine to SEC

GE pays $23.4 million as fine to SECUS conglomerate, General Electric Co. (GE) has agreed to pay fine to the U. S. Securities and Exchange Commission (SEC). It will be paying $23.4 million as the fine amount.

The SEC has charged GE of paying bribes in overseas deals. It said that there are a large number of complaints that suggest the GE used to pay bribe to the former Iraqi government for winning contracts in the country.

BP to declare record loss after the disastrous oil spill in the Gulf of Mexico

BP to declare record loss after the disastrous oil spill in the Gulf of MexicoThe oil giant BP is going to announce a record loss because of its expenses of 25-30 billion dollars to clear the huge oil spill on Gulf of Mexico. This loss will be the largest loss of any British company in the history of British business.

Honda Civic makes it presence on internet before its official launch

Honda Civic makes it presence on internet before its official launchWhen Honda Civic, new version of Honda is on its test drive in Europe, it was clicked by a photographer and the images were revealed on internet.

Wick Moorman to be Norfolk Southern CEO

Wick Moorman to be Norfolk Southern CEOOn Tuesday, Railroad Norfolk Southern Corp. stated that it expects its volume growth in shipping will stay on pace all through the year.