Microsoft to cut 18,000 jobs as Nokia loses 12,500 positions

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Source: Bloomberg
Microsoft Corp. has finally announced a long-awaited job cuts program, which will include the elimination of 18,000 positions by the middle of the next year. As expected, the vast majority of lay-offs will come from the Nokia unit, which has been recently bought by American company. Yesterday, Microsoft Corp. shares jumped 1% to $44.53 per share during the trading session in New York.
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Fri, 18 Jul 2014 10:07:08 GMT

Volvo revenue drops as China and Brazil demand decreases

Volvo AB, the biggest car manufacturer in Sweden, released its quarterly report for the work in the April-June quarter of this year. The report showed a 0.2% decline in sales, while profit of $521 million missed analysts' forecasts. The result was influenced by sales' drop in China and Brazil. Today, Volvo AB equities are losing as much as 4.1% to

Fri, 18 Jul 2014 12:34:09 GMT

Poloz may consider new interest rate level in October

BoC Governor Stephen Poloz stated today the central bank is up for negotiating the interest rate that would allow the economy to function at the full output. The interest rate is being kept unchanged since September 2010 at 1 percent. The Bank of Canada is investigating the neutral interest rate and will raise the topic in the next economic report due in October. 

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