IKEA intends to withdraw 29 million chest of drawers and stop selling low-budget Malm line. The company has taken this decision after three infant deaths taken place in the last two years in the US. The chest of drawers had fallen on the baby in each of the cases. IKEA is recalling about 29 million chests, including one of its most popular lines – Malm. The clients will be reimbursed for the...

United Kingdom voted for Brexit, and this decision plunged markets into shock on Friday. However, a small group of hedge funds still managed to make a huge profit out of it. This is especially noticeable given that many funds have bet with minimum risk with regard to customers. "The unprecedentedly low number of incoming messages from clients and modest trading volumes indicate a lull in the...

French media conglomerate Vivendi does not want to stop embodying long-term plans for capture of its compatriot Ubisoft, specializing in development and publishing of video games. Earlier this month, Vivendi took control over Gameloft, a mobile games developer owned by Michel Guillemot, brother of Yves Guillemot, who, in turn, manages Ubisoft. Now, Vivendi said it "intends to continue to buy...

Quarterly and annual revenue forecast of Adobe Systems Inc. software developer barely stretched out to analysts' estimates. The news disappointed investors who had hoped that demand for Adobe Creative Cloud package will exceed expectations. Adobe’s net profits in the first half of fiscal year 2015-2016, which for the company ended on 3 June, in annual terms increased by 2.1 times and amounted to...

Dell is in talks to sell the business for production of corporate software - Dell Software Group. The buyers are Francisco Partners company and Elliott Management Corp. hedge fund. American company Dell can sell software business to finance transaction on purchase of EMC Corp, which cost $ 67 billion to the vendor. In the near future, the corporate software unit can be sold to a consortium of...

Chinese online retailer JD.com and the US company Wal-Mart announced creation of a strategic alliance in which Wal-Mart will receive almost 145 million new A class shares of JD.com. This corresponds to approximately 5% of the Chinese company’s share capital. JD.com will be own an online platform Yihaodian, belongs to Wal-Mart. The companies will work together on the website’s promotion. Also,...

On Sunday evening, Head of Iran's Civil Aviation Organization (CAO) announced a contract with Boeing Aircraft Corporation to supply 100 aircraft to Iranian airlines. The deal is valued at $ 17 billion; it is going to make Boeing Iran’s largest US trading partner. Earlier, the Iranians have already signed a preliminary contract with Airbus for delivery of 118 aircraft worth $ 27 billion. Head of...

Volkswagen will focus on the most attractive and fastest growing segments of the market. To do this, the company’s current portfolio, consisting of 340 different models, will be optimized based on characteristics of the regional markets and customer needs. In the coming months, Volkswagen will present a detailed strategic program for each brand with concrete steps and financial goals before the...

Online rental service Airbnb attracted a loan of $ 1 billion to strengthen its business and to develop new services. Now, Airbnb is valued at more than $ 25 billion. As reported by Bloomberg news agency citing sources familiar with the situation, the online property rental service Airbnb has attracted a loan of $ 1 billion to support its growth and develop new services. According to sources, the...