Google Inc (NASDAQ:GOOGL) will not let itself be left out in the field of virtual reality, as the search giant has shown that there is a readily available answer to Facebook Inc (NASDAQ:FB)’s $2 billion dollar bet in Oculus VR platform. While Facebook’s Oculus has yet to officially release any gaming device, which is expected…
Delta Air Lines, Inc. (DAL) Reports $712 Million Fourth Quarter Loss on Fuel Hedging, Bullish Prospects for the Year
Delta Air Lines, Inc. (NYSE:DAL) posted a loss of $712 million on fuel hedge settlements in its fourth quarter results, although the carrier beat analysts expectations. Adjusted pre-tax profit is at $1 billion for the quarter, bringing the annual pre-tax profit at $4.5 billion. Revenue soared by 6 percent by the quarter to $9.65 billion,…
J.C. Penney Company Inc (JCP) Restores Catalog After 5 Years
J C Penney Company Inc (NYSE:JCP) will resume mailing catalogs after five years of doing away with it as a means of boosting sales, according to the Wall Street Journal. The new catalogs will be sent to select customers this coming March, with 120 print pages detailing items from the store’s home department. The last…
GM Motors Company (GM) Receives 108 Additional Claims on Faulty Switch Ignition
General Motors Company (NYSE:GM) reported an additional 108 claims related to its faulty ignition switch, raising the total number of fatalities at 49 last week, up 4 more than previous tallies. The new claims brings the total to 2,818. The car maker issued massive recalls last year, aiming to repair vehicles equipped with faulty ignition…
BP plc (ADR) (BP) Seeking to Reduce $13.7 Billion Fine in Penalty Phase of Oil Spill Case
BP plc (ADR) (NYSE:BP) is seeking to reduce the fine of $13.7 billion it is facing for the 2010 Gulf of Mexico oil spill, arguing that it has undertaken extensive efforts to mitigate the effects of the accident. In his opening statement at the penalty phase of of the oil spill trial, BP lawyer Mike…
Facebook Inc (FB) Stimulates World Economy to the Tune of $227 Billion and 4.5 Million Jobs
Facebook Inc (NASDAQ:FB) is not only the world’s giant social networking site, it is also responsible for an impact in the global economy to the tune of $227 billion, in the process creating roughly 4.5 million jobs for the year 2014. This is according to the results of a study conducted by Deloitte & Touche,…
Facebook Inc (FB) Invests in Voice-to-Text Transcription Technology for Messenger
Facebook Inc (NASDAQ:FB) is now in the process of testing voice-to-text transcription for its Messenger app, according to Facebook vice president of messaging products David Marcus, in a statement made at the Digital Life Design Conference in Munich. According to Marcus, the machine-learning based technology could be popular in Asia, where some languages particularly presents…
Tesla Motors Inc (TSLA)’s Model X Gets Challenger in China’s GAC WitStar
Tesla Motors Inc (NASDAQ:TSLA), which boasts of an upcoming Model X semi-autonomous electric car, gets a challenger from China’s GAC WitStar. Showcased at the 2015 Detroit Auto Show, the WitStar model from GAC Motors in Guangzhou, China resembled the look of the Model X, according to Business Insider, and amazed audience with a particularly wild…
Sprint Corp (S) To Take Over RadioShack Corporation (RSH) Stores
Sprint Corp (NYSE:S) is negotiating with RadioShack Corporation (NYSE:RSH) to acquire leases on some of its more than 4,000 stores. In a Bloomberg report, an unnamed source said that the lease agreement would be a part of RadioShack’s bankruptcy plan, as the ailing electronics retailer is working on a restructuring plan. Having endured losses for…
Google Inc (GOOGL) Investing $1 Billion in SpaceX for Satellite Internet
Google Inc (NASDAQ:GOOGL) is poised to invest as much as $1 billion in rocket maker Space Exploration Technologies Corp. in its bid to provide low cost internet connection to billions of people around the world who don’t have access to the web yet. The investment from the search giant would value SpaceX, which is backed…