Wal-Mart has taken a remarkable step to increase wages for its 500,000 employees. Wal-Mart Stores started experimenting with its business model under the leadership of former CEO Mike Duke. However, his insignificant efforts were unable to turn the tide. Doug McMillon, who became the new CEO of the company in 2014, is expected to adopt aggressive strategies to boost Walmart’s growth. His...

Four from among the largest banks in the US barely passed the stress tests of the Federal Reserve System (Fed) in 2015, and two units of foreign banks failed them. Goldman Sachs Group Inc., J.P. Morgan Chase & Co. and Morgan Stanley have been allowed to return profits to shareholders only after adjusting their initial requests to ensure that their capital levels remain above the minimum...

Zuora got pumped by an additional $115M thanks to investor confidence in its subscription as-a-service based business model which, is emerging as the way for conducting small and large scale business operations. Being a global leader in the billing and subscription commerce model of the new economy, Zuora, lends a helping hand to industries wanting to cross over from the old model to a newer...

CEO of Prudential, UK’s biggest saving and investment group will take top job at Credit Suisse CEO Tidjane Thiam’s resignation from Prudential is a move towards taking the top job at insurance giant, Credit Suisse. An Ivorian who completed his studies from Paris, joined Prudenial in 2007 and within just 2 years succeeded Mark Tucker as a CEO. The announcement of his departure was made at the time...

With the support and assistance of its partner, American Airlines Delta, the brainchild of Richard Branson managed to earn 14.4 million pounds in operating profit for the year, reports Financial Times. Virgin Atlantic Chief Executive Craig Kreeger said that over the next three years, the airline is expected to reach 100 million pounds of annual profits with effective fuel economy schemes and...

PayPal adds Israeli cyber security startup CyActive to its kitty. With CyActives predictive analytics, it hopes to protect and create a safe environment free from current and future cyber attacks.Sounds too good to be true? Well PayPal bet $60M on it. It is so refreshing to hear that a service that is widely used worldwide improves its security features. Somehow the news tastes even sweeter, when...

Following the Snowden disclosures, the NSA has been dragged to the district court of Maryland by ACLU. Although it had done the same in the past, the case was dismissed for want of evidence that they had been spied on. Following the damning disclosures by Edward Snowden on the extant of intrusive surveillance by the National Security Agency (NSA), the American Civil Liberties Union (ACLU), has...

Consulting company Ethisphere Institute has published the list of 132 most ethical companies of the world. Fifteen companies have never left the rating for 9 years of its existence. By the end of 2014 the number of holders of this title slightly decreased compared to the previous year and amounted to 132 companies that represent 21 countries. In this case, 15 of them receive this award for the...

HSBC chief executive Stuart Gulliver has attempted to clear his reputation amidst current scandals regarding his personal tax arrangements. The bank chief noted that though the scandal has damaged the UK-based bank’s reputation he is still competent to head it while he was grilled on Monday by MPs who were part of the Public Accounts Committee (PAC). Gulliver also squarely put the blame on...