Business News

Shareholders’ Vote Overwhelmingly Rendering Support to EMC-Dell Deal

The merger deal between Dell and EMC Corp is nearing its final stage as EMC Corp. shareholders voted to approve sale of the company to Dell Inc.

The deal of $60 billion or more will create a massive supplier of equipment for corporate data centers.

The company said, the deal was endorsed by 98 percent of the voting shareholders during a short meeting at the EMC's Hopkinton headquarter on Tuesday.

Drivers on Pennsylvania Turnpike will Pay 6 Percent Extra Starting January 8

Starting from January 8, drivers travelling on the Pennsylvania Turnpike will pay 6 percent higher tolls as Pennsylvania Turnpike Commission approved the hike. It will be the ninth consecutive annual increase which has seen a jump every year since 2009. The commission seeks revenue which will allow paying for a long-term project of reconstructing the Turnpike and also handle its debt.

Dallas Based Comerica to Trim Almost 800 Jobs and Shutter 40 Branches

Dallas, Texas based financial service company, Comerica, which is also the second-largest bank in Michigan said, it plans to trim about 800 jobs and shutter forty branches. The action is part of a cost cutting effort and perk up profitability in the ever growing competitive market and challenging environment for the retail division of the financial sector.

However, it was not clear how the planned job cuts will affect numbers in Michigan or its branches in the state.

UAE’s Zero.1 to offer new management system to healthcare players

Zero.1, a leading Light Fidelity (LiFi) Company in the United Arab Emirates (UAE), is planning to offer its new revolutionary management system for the healthcare sector called HEALTHCARE4U in the country.

The company is completing work on the management system that will be offered in the rapidly growing UAE healthcare market. The country's healthcare market is expected to reach $19.5 billion by 2020 recording a growth rate of

ConAgra Foods Recall Frozen Chicken and Beef Products with Possible Presence of Metal Fragments

Chicago, Illinois headquartered ConAgra Foods, the American packaged foods company is recalling close to 200,000 pounds of meat which might be contaminated with a metal fragments  which can be dangerous if ingested.

The unwanted ingredients on the recalled products are "curled, malleable and shiny". According to the U.S Department of Agriculture, the metal may be embedded in the sauce inside the frozen packages.

NextEra Energy to Pay $90 Million as Break-up Fee after Terminating Merger Agreement with Hawaiian Electric

After the Hawaii Public Utilities Commission rejected NextEra Energy's bid to acquire the Hawaiian Electric Industries, on Monday the Jono Beach based company announced it was terminating the merger agreement.

As per the terms of the agreement, NextEra Energy has to pay a $90 million break-up fee to Hawaiian Electric and about $5 million reimbursing expenses associated with the transaction.