Andy Harrison, the chief executive of the low-cost airline Easyjet, is to step down at the end of June.
Including Andy Harrison, five senior executives have left the airline in wake of a boardroom battle with founder Stelios Haji-Iannou.
The airline said that Mr. Harrison would not leave until the end of next June to give it time to find a successor.
Director Stelios Haji-Iannou had opposed Easyjet’s expansion plans and advocated preserving cash during the economic downturn.
The German auto giant Volkswagen announced that it would buy 19.9 per cent stake in Japanese car maker Suzuki Motor for $2.5 billion.
On the other hand, Suzuki will purchase shares in Volkswagen worth up to half the amount the German automaker buys.
The two car makers announced in a joint statement that they reached a common understanding to establish the partnership.
Suzuki owns 54 per cent stake in India’s biggest car maker Maruti Suzuki Ltd.
Chip manufacturer Texas Instruments Inc raised its fourth-quarter financial outlook, citing an improvement in the market.
TI now foresees fourth-quarter revenue in the range of $2.9 billion to $3.02 billion, with the lower end up from its previous forecast of $2.78 billion to $3.02 billion.
Similarly, TI raised its forecast for earnings per share to 47-51 cents for the running quarter, up from its prior forecast of 42-50 cents.
United Airlines announced that it placed an order for 50 jetliners from Boeing and Airbus with a list value of more than $10 billion.
The order consists of twenty-five new generation A350 aircrafts from Airbus and twenty-five Dreamliner 787 jets from Boeing.
According to analysts, a concerned development boost hopes that airline financing is returning to health.
John Tague, President of United Airlines, said, “We obviously thought the current environment was an opportunity for us.”
The mall operator Simon Property Group said that it would buy the outlet shopping center business of Prime Outlets Acquisition Co. in a move that will strengthen its position in the market.
The deal, which includes the acquisition of 22 outlet centers of Prime Outlets Acquisition Co. along with its debts, is valued at around $2.3 billion.
Microsoft on Tuesday fixed twelve security vulnerabilities in Windows, Office and Internet Explorer.
One of the patches included in the Internet Explorer update addressed the zero-day vulnerability that used to plague older versions of IE.
Speaking on the issue, director of security operations for nCircle Andrew Storms said, “Topping today's news from Microsoft is the fix for a critical zero-day bug in Internet Explorer.”
The online search giant Google has teamed up with The Washington Post and The New York Times to present 'Living Stories'.
The 'Living Stories' project, which was launched on Tuesday, brings together the several disparate stories from a single publisher about a single topic on one page.
For instance, the coverage of the Afghanistan war by the New York Times is presented on a single Web page. On one side of the page users can get access to quotes, photos, opinions and the like via a menu bar.
Nokia has revealed plans of shutting down its "state-of-the-art flagship store" which is located in the heart of London's Regent Street, after merely 2 years of operations. The store was originally opened in February 2008 and was described by Nokia MD Simon Ainslie as "dynamic, original and beautifully designed".
At the time of inauguration, the store was touted as the one-stop place for "world-class customer service and deliver a unique experience enhancing our customer's lifestyles".
Claiming to offer the "ultimate mobile experience", the latest smartphone Operating System, the Samsung Bada, was today unveiled by the company.
The OS is based on the same TouchWiz interface that has already been used by the Korean company in many other mobile devices that were recently launched by it, including the very latest Samsung Omnia i900. Bada has been mainly aimed at giving the company's arch rivals Apple and Android a tough competition.
Britain's top ranked electronic-games retailer, Game Group Plc., took the biggest plunge since July on the London Stock Exchange, after it reported rapidly falling sales and earnings on the back of manufacturers cutting console prices and back-catalog titles not selling as well as was initially expected.
The company dropped as much as 16%, after revealing that revenue and sales at stores which had been around for at least a year fell by 14% in the 18 weeks up-to December 5.
An Post last night announced that it is looking to axe cut as many as 1,375 jobs between 2010 and 2012, which would substantially cut down its current workforce of nearly 10,000 people.
As confirmed by the company, the cut will be applicable to all levels across all departments, including headquarters, collection, retail and processing, and although the terms have not been shard yet, the cuts will be on voluntary basis.
TalkTalk, UK's giant telecommunication and broadband service provider, has announced that it will be hiring as many as 60 new employees for its customer service and sales center placed in Waterford. The center already boasts an employee base of 700 people.
As has been confirmed by the company, 50 of the total jobs will be full-time and the remaining 10 would be part-time. Set up in 1998, the company's Waterford center offers customer support for customers of TalkTak and AOL across UK.
National Irish Bank yesterday shared plans of cutting almost a quarter of its current workforce of 634 and shutting down as many as 25 branches, over the coming 18 months. Most of the branches to be closed will be in the rural towns.
The parent bank, Danske Bank, however, will remain "committed to the Irish market", as has been confirmed by NIB. NIB and Northern Bank were acquired by Danske in 2005 in a 1.4 Billion Euros deal.
A recent study, led and authored by Northwestern University Psychologist Tony Z. Tang, has revealed that antidepressants drugs which are currently used by nearly 7% of the American adult population, in addition to helping with depression, can also cause serious and major personality changes.