On Monday, Shares of Cisco Systems, Inc. (NASDAQ:CSCO), gained 0.04% to $27.49.
Cisco’s executive chairman on Monday declined to say whether it would cede to China’s demands to be able to control equipment deployed in the world’s largest internet market, instead pledging to find a “win-win” solution, according to Reuters.
The world’s top maker of switching equipment and routers that run the Internet has a bet big on China, announcing in June it would invest more than $10 billion in the country together with local business partners.
Cisco’s commitment comes despite unease among foreign business groups over a China national security law adopted in July demanding all key network infrastructure and information systems be “secure and controllable”.
“We will find a way to make it a win-win situation,” executive chairman John Chambers told Reuters on the sidelines of a news conference in Dubai. Reuters Reports
Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP) based networking products and services related to the communications and information technology industry worldwide. It provides switching products, counting fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications. The company also offers service provider video infrastructure, counting set-top boxes, cable/telecommunications access products, and cable modems; and video software and solutions. In addition, it provides partnership products comprising unified communications products, conferencing products, telepresence systems, and enterprise mobile messaging products; data center products, such as blade, rack, and modular servers, fabric interconnects, software, and server access virtualization solutions; security products, counting network and data center security, advanced threat protection, Web and email security, access and policy, unified threat administration, and advisory, integration, and managed services; and other products, such as emerging technologies and other networking products. Further, the company offers wireless products comprising of wireless access points; network managed services; and standalone, switch-converged, and cloud managed solutions. Additionally, it provides technical support services and advanced services. The company serves businesses of various sizes, public institutions, governments, and communications service providers. Cisco Systems, Inc. sells its products directly, in addition to through channel partners, such as systems integrators, service providers, other resellers, and distributors. The company was founded in 1984 and is headquartered in San Jose, California.
Shares of Groupon, Inc. (NASDAQ:GRPN), declined -6.50% to $2.86, during its last trading session.
Groupon CEO Rich Williams declared key new organizational roles to drive the company’s growth plans for 2016 and beyond.
Jay Sullivan has been designated Chief Product Officer and, in this capacity, will have responsibility for Product and Engineering. Sullivan joined Groupon earlier this year as head of consumer product and will be tasked with evolving Groupon’s customer- and merchant-facing assets — counting its desktop experience and top-rated mobile app — in addition to the critical technology infrastructure that supports them.
Sullivan joined Groupon from Mozilla where he served in a number of senior-level roles, counting interim CEO. He has more than two decades of experience developing global software used by millions and leading large, distributed development teams.
Williams also declared that Jacob Hawkins has joined Groupon to succeed Cooper as head of North American Goods. Hawkins joins from Aeropostale, where he was vice president of e-commerce. He also spent nearly a decade at Overstock.com, serving in a number of leadership roles, counting supply chain administration, merchandising, online marketing and pricing.
Groupon, Inc. operates online local commerce marketplaces that connect merchants to consumers by offering goods and services at a discount worldwide. It also offers deals on products for which it acts as the merchant of record. The company offers deals in various categories, counting food and drink, events and activities, beauty and spa, health and fitness, home and garden, and automotive; deals on various product lines comprising electronics, sporting goods, jewelry, toys, household items, and apparel; features travel offers comprising hotels, airfare, and package deals; and tools, such as payments and credit card payment processing service, in addition to point-of-sale solutions to merchants. It distributes its deals to customers through mobile applications and mobile browsers that enable consumers to browse, purchase, manage, and redeem deals on their mobile devices; Websites; emails that are targeted by location, purchase history, and personal preferences; and search engines and others. The company was formerly known as ThePoint.com, Inc. and changed its name to Groupon, Inc. in October 2008. Groupon, Inc. was founded in 2008 and is headquartered in Chicago, Illinois.