Apple on Track to Get Clearance to Open First Retail Store in India

Apple

Apple Inc. (NASDAQ:AAPL) is on the path towards receiving a clearance from the government of India to open its first retail store in the country, according to Bloomberg based on information from a person knowledgeable about the situation. During a recent town hall meeting with Apple executives, CEO Tim Cook stated that the iPhone maker was in the early stages of its application to open a retail store in India. The source told Bloomberg that the iPhone maker is resubmitting its application to the Indian government because the format was…

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Philippine Congress Approves Bill Giving Nurses Nearly PHP25K Minimum Wage

Filipino nurses

The House of Representatives of the Philippines approved the proposed Comprehensive Nursing Law of 2015 on the third and final reading last week. The bill will provide a minimum monthly salary of PHP 24, 887 for entry-level nurses in both public and private hospitals. The law also requires a yearly salary increase for nurses. The HB 6411 is intended to institute further reforms, develop and protect the nursing profession in the country. The bill described as an “Act providing for a Comprehensive Nursing Law towards quality healthcare system,” would repeal the…

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BlackBerry Eliminates 200 Jobs in Ontario and Florida

BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) is eliminating 200 jobs including 125 at its headquarters in Ontario and 75 in Florida as part of its turnaround efforts. “As BlackBerry continues to execute its turnaround plan, we remain focused on driving efficiencies across our global workforce,” according to the Canadian technology company in a statement. BlackBerry already reduced its workforce from 17,500 in 2011 to 6,225 as of February 28, 2015. The company clarified that it is still firing in business areas that are growth drivers. BlackBerry’s BBM inventor among those affected Gary…

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VTech Holdings Limited Inks Deal to Buy LeapFrog for $72M

LeapFrog

The shares of LeapFrog Enterprises (NYSE:LF), a developer of educational entertainment for children, increased more than 71%  after the company agreed to sell itself to VTech Holdings Limited, a global leader in electronic learning products and cordless telephones. The stock price of VTech Holdings declined 1.4% to HKD$ 81 per share on Friday. Merger agreement between VTech and LeapFrog Under the merger agreement, VTech Holdings agreed to acquire the Class A and Class B shares of LeapFrog for $1.00 each or approximately $72 million. The acquisition price represents a 75.4%…

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Symantec Boosts Capital Return Program to $5.5B; Shares Soar

Symantec

Symantec Corporation (NASDAQ:SYMC) boosted its capital return program to $5.5 billion after the cybersecurity company obtained a $500 million strategic investment from Silver Lake, a global private equity firm focused on technology investing. The stock price of Symantec increased 8.81% to $20.87 per share during the extended trading on Thursday. The cybersecurity company expected to complete its capital return program by the end of March 2017 through shares buyback and dividend payment. Symantec already completed an accelerated stock buyback worth $500 million in January this year. Symantec said it will…

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Martin Shkreli Invokes Fifth Amendment Right at Hearing on Drug Pricing

Shkreli

Martin Shkreli, the former CEO of Turing Pharmaceuticals invoked his Fifth Amendment right to avoid self-incrimination at the Congressional hearing on drug pricing on Thursday. Last month, the U.S. House Committee on Oversight and Government Reform subpoenaed Shkreli to answer questions in connection with the decision of Turing Pharmaceuticals to suddenly increase the price of Daraprim by 5,000% from $13.50 to $750 a pill last year, when he was still the CEO of the company. Daraprim is an antibiotic used to treat a deadly parasitic infection called toxoplasmosis, which is…

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Cisco Systems to Buy Jasper Technologies for $1.4B

Cisco Systems

Cisco Systems (NASDAQ:CSCO), the largest network equipment manufacturer announced its decision to acquire Jasper Technologies for $1.4 billion to boost its initiatives in the growing connected devices market. According to Cisco, it would pay Jasper Technologies with cash and assumed equity awards, and additional incentives. Jasper Technologies is a privately-held company engaged in providing cloud-based platform for connected devices or Internet of Things (IoT) to help enterprises and service providers launch and monetize their IoT services globally. The network equipment manufacturer described Jasper Technologies as a leading IoT service platform…

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Yahoo Pursues Strategic Plan to Drive Growth

Yahoo

Yahoo! Inc (NASDAQ:YHOO) is pursuing an aggressive strategic plan including job cuts, office closures, and a reverse spinoff of its stake in Alibaba Group Holding to drive growth. The company’s strategic plan aims to reduce operating expenses by more than $400 million and generate more than $1 billion cash from divesting its non-strategic assets this year. Yahoo also wants to boost its Mavens businesses (mobile, video, native and social) revenue to more than $1.8 billion, increase its advertiser & consumer product quality and grow its daily active users (DAUs). Yahoo…

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