Facebook Inc will acquire two-year-old Oculus VR Inc, a maker of virtual-reality glasses for gaming, for $2 billion, buying its way into the fast-growing wearable devices arena with its first-ever hardware deal. The acquisition, which comes hot on the heels of its $19 billion deal for messaging service WhatsApp, marks […]
Business News
Cisco joins cloud computing race with $1 billion plan
Cisco Systems Inc plans to offer cloud computing services, pledging to spend $1 billion over the next two years to enter a market currently led by the world’s biggest online retailer Amazon.com Inc. Cisco said it will spend the amount to build data centers to help run the new service […]
JPMorgan top China banker Fang to leave amid hiring probe
JPMorgan Chase & Co’s (JPM.N) chief executive for China investment banking, Fang Fang, will leave the firm, according to an internal memo – a departure that comes amid a probe of JPMorgan hiring practices in Asia. The memo gave no reason for his resignation. The Wall Street Journal, which first […]
