• News Desk

BUSINESS NEWS JANUARY 25th 2016


TWITTER REVAMPING LEADERSHIP UNDER JACK DORSEY

U.S. stocks accelerated declines in the last trading hour to end the day sharply lower. Twitter Chief Executive Jack Dorsey is revamping his top management as he tries to find ways to revive the social media company and earn the trust of investors. The company has confirmed that four top executives are leaving the company, terming them as voluntary. Twitter plans to bring in two new board members as soon as this week, with one of them being a a high-profile executive in the media industry.

For more on the story log on to

http://www.wsj.com/articles/twitter-to-revamp-leadership-under-ceo-jack-dorsey-1453674960

MCDONALD'S EARNINGS RISE DUE TO ALL-DAY BREAKFAST SALES

McDonald’s posted its best U.S. quarterly sales in nearly four years and its profit and revenue forecasts have beaten analyst estimates. Sales at McDonald’s U.S. restaurants open at least 13 months jumped 5.7% in the fourth quarter. The jump was boosted by the chain's move last autumn to start selling breakfast all day. Globally, same-store sales rose 5% again beating analyst estimates. The chain is working on a number of new initiatives including a new mobile app through which customers can receive coupons.

For more on the story log on to

http://www.wsj.com/articles/mcdonalds-earnings-climb-on-u-s-strength-1453727578

SPRINT SAID TO CUT 2500 JOBS

Sprint, the nation’s fourth-largest wireless carrier, is eliminating 2,500 jobs, or about 7% of its total workforce. According to sources this move is part of a plan to cut $2.5 bn in costs. Employees were informed of the cuts in an e-mail on Friday. January 30th is the deadline to qualify for better severance benefits. Sprint is facing low cash reserves and debt refinancing pressures.

For more on the story log on to

http://www.bloomberg.com/news/articles/2016-01-25/sprint-said-to-cut-2-500-jobs-7-of-workforce-to-save-costs

HILTON LAUNCHES A NEW BUDGET HOTEL CHAIN

Hilton is launching a new hotel brand, focusing on budget travelers looking to spend $75-90 a night. The new brand, named Tru, will compete with economy and midscale chains like Comfort Inn, Fairfield Inn and La Quinta. The new chain will come up in cities like include Atlanta, Dallas, Houston, Chicago, Denver, Portland, Oregon, Charlotte, North Carolina, San Antonio, Texas and Nashville, Tennessee. The typical hotel will have 98 rooms.

For more on the story log on to

http://chicago.suntimes.com/business/7/71/1276627/hilton-tru-hotel-millennials


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