American company Walt Disney announced downsizing in one of its units due to weak financial performance, according to The New York Times. The layoffs are related to Digital Media and Consumer Products Department. The company fired 250 employees in total, which is 5% of the entire labor force employed in these areas. This is not the first personnel reduction at Walt Disney in recent months. In May...

Canadian fertilizer producers Agrium Inc. and PotashCorp are going to merge. They will create the largest player in the global fertilizer market with capitalization of $ 36 billion by the middle of 2017. The largest North American retailer of agricultural products Agrium Inc. and the world’s leading in terms of capacity manufacturer of fertilizers Potash Corporation of Saskatchewan Inc....

Samsung Electronics decided to get rid of its business for production of printers, and has already found a buyer - American HP Inc. The transaction is valued at US $ 1.05 billion, and Samsung has also committed to purchase HP shares (publicly traded) in the amount of $ 100 to $ 300 million. HP believes that, despite the shrinking global market of printing and copying devices, the deal with the...

One of the largest US banks Wells Fargo has been fined $ 185 million for the fact that its team opened more than 2 million accounts and credit cards without consent of customers. This was done to hit sales targets and receive bonuses. The bank has dismissed 5,3 thousand employees, who were suspected of involvement in fraudulent schemes. On Thursday, the US Consumer Financial Protection Bureau...

Today, shares of Nintendo on the Tokyo Stock Exchange rose by 13.2%, from 24695 to 27955 yen apiece. The jump followed rapid growth of American Depositary Receipts (ADR) of the company on the NASDAQ stock exchange. These securities went up immediately to 28.79% (from $ 28.2 to $ 36.32) just during one day. Wall Street Journal’s experts attribute such a rapid growth of Nintendo’s securities to...

Liberty Media owned by American billionaire John Malone announced its intention to purchase Formula One auto races from a consortium of vendors led by private equity firm CVC, reports The Wall Street Journal. CVC Capital Partners, based in London, bought a controlling stake in Formula One in 2006. 100% stake in the franchise is estimated at $ 4.4 billion. Total worth of the race is $ 8 billion,...

Israeli company Space Communication Ltd, an owner of telecommunications satellite AMOS-6 destroyed because of an explosion of launch vehicle Falcon 9, may require compensation of $ 50 million, or a free rocket launch from American aerospace company SpaceX. Space Communication can also exact $ 205 million from Israeli corporation Aerospace Industries, which designed and built Amos-6. SpaceX...

Engineering company General Electric is planning to buy two European companies specializing in 3D-printing technology. The American company is going to use the two manufacturers to create parts of jet aircraft and automobile engines. GE expects to spend a total of about $ 1.4 billion on the transactions. In particular, GE is ready to acquire Swedish Arcam, one of the American company's main...

Visa payment system in collaboration with British technology company BTL Group is working on integration of the blockchain technology in inter-bank transfers. The company invites creditors to test remittances using the blockchain. The project is supposed to reduce costs, accelerate time of transfers and lower risks for partners. BTL Group was founded last year by Guy and Hugh Halford-Thompson....