Economy

Symantec Corp to acquire Blue Coat for $4.65 billion

Symantec Corp to acquire Blue Coat for $4.65 billion

Symantec Corp would strike cash deal with Blue Coat to buy privately held cyber Security Company for $4.65 billion. Once Blue Coat joins the technology security firm, it will boost company’s security business. It will prevent cyber attacks on the companies' web gateways and in addition, will work along with already offered services to provide security to its customers.

Men earn more than women according to fresh study on Gender Pay Gap

Men earn more than women according to fresh study on Gender Pay Gap

Based on a survey carried out on 500,000 individuals posting their salaries on Glassdoor website, a team of analysts have found that women get paid less compared to men in the United States, France, the United Kingdom, Germany and Australia. Many organizations advocating for women rights have raised the issue of gender pay gap in the past as well. However, the gap between the earnings of male and female employees still exists. The pay gap as per gender is different in different industries but generally, women get paid less compared to men.

US Economic Growth in Fourth Quarter Revised as Strong Consumer Spending Supports

US Economic Growth in Fourth Quarter Revised as Strong Consumer Spending Support

U.S. economic growth during fourth quarter was better than estimates of economic analysts as the GDP increased by 1.4 percent annual rate. Earlier reports had estimated GDP growth of one percent but strong consumer spending in the United States has helped the economy. The Commerce Department released the GDP data for fourth quarter on Friday.

Federal Reserve needs time to ascertain the impact of market turmoil: Robert Kaplan

Federal Reserve needs time to ascertain the impact of market turmoil: Robert Kap

Robert Kaplan, President Federal Reserve Bank of Dallas said that the Federal Reserve needs time to evaluate the impact of recent stock market turmoil and the direction of global economy. The impact of events in China and other parts of the world on the U.S. economy will decide Federal Reserve’s next move. However, during a Bloomberg interview, Kaplan added that he won’t commit at timing for the next move of Federal Reserve on interest rates.

Toys R Us Shuts down Times Square Outlet

Toys R Us Shuts down Times Square Outlet

The luxurious toy superstore, Toys R Us, has shut down its flagship outlet at Times Square in New York City. The 21,000-square foot outlet saw its last customers on December 30, 2015. The store had an indoor Ferris wheel of 60 feet and an animatronic Tyrannosaurus rex of 20 feet. The outlet also stored a life-size Barbie dollhouse. The outlet had been operational for 14 years.

Oracle Cloud Business Making Progress, But Strong Dollar Hits Its Profit

-Oracle Cloud Business Making Progress, But Strong Dollar Hits Its Profit

Oracle Corp, the Redwood Shores, California-based company said in a statement Wednesday that its cloud business is making progress, but its investors need to stay calm till the time there’s a return to revenue growth.

According to data compiled by Bloomberg, revenue of the company fell around 6.3% to $8.99 billion from a year earlier, as compared with analysts’ estimate of $9.06 billion. This is the 10th quarter in the past 12 when the company has failed to meet analysts’ expectations.

Biogen to pay $124 million to Applied Genetic Technologies Corp. to develop Gene-based Therapies for Eye Diseases

Biogen to pay $124 million to Applied Genetic Technologies Corp. to develop Gene

Biogen Inc. will pay $124 million to Applied Genetic Technologies Corp. for getting license and commercialization rights for its gene-based therapies, as the former is making its entry into the eye-disease treatment.

After the announcement, shares of AGTC increased 21% amounting to $19.75, but not much change was noticed in the shares of Biogen. They were little changed at $406.08. While detailing about the deal, Biogen, which is a leader in treatments for multiple sclerosis, said that the amount also includes a $30 million equity investment.

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