On Friday, Shares of Microsoft Corporation (NASDAQ:MSFT), lost -5.67% to $43.07, after announcing the closure of Nokia’s (NOK) former cellphone development unit in Salo, Finland and job cuts.
Microsoft confirmed that it will close the former handset product development unit in Salo and will cut over 2,300 jobs in the Nordic country, Reuters reports.
Last month, Microsoft declared its plan to cut up to 7,800 jobs worldwide, primarily in the phone business.
Two Finnish sites in Espoo and Tampere will remain open, but of the 3,200 employees in Finland, only 900 may remain employed after negotiations are concluded, Reuters added.
Microsoft Corporation, a technology company, develops, licenses, and supports software products, services, and devices worldwide. The company’s Devices and Consumer (D&C) Licensing segment licenses Windows operating system and related software; Microsoft Office for consumers; and Windows Phone operating system.
Shares of PayPal Holdings, Inc. (NASDAQ:PYPL), declined -4.81% to $34.25, during its last trading session, hitting its lowest level.
Online payments giant PayPal has made its first acquisition since its recent split with eBay, buying mobile commerce start-up Modest for an unrevealed sum.
Chicago-based Modest was founded in 2012 by Harper Reed and Dylan Richard. Mr Reed formerly served as chief technology officer for President Obama’s re-election campaign, while Mr Richard was its lead engineer.
Modest, which is a mobile commerce platform for small businesses, is set to join PayPal’s Braintree business, a start-up that the payments firm attained for $800 million in 2013.
PayPal Holdings, Inc. operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. It enables businesses of various sizes to accept payments from merchant Websites, mobile devices, and applications, in addition to at offline retail locations through a range of payment solutions across company’s payments platform, counting PayPal, PayPal Credit, Venmo, and Braintree products.
Gold prices were higher in early Asia on Monday as markets looked ahead to remarks by a key Federal Reserve policymaker.
Gold for December delivery on the Comex division of the New York Mercantile Exchange was up 0.15% to $1.161.30 a troy ounce.
Last week, gold futures rallied to a more than six-week high on Friday, as steep losses in global equity markets and receding expectations that the Federal Reserve will raise U.S. interest rates next month boosted demand for the yellow metal.
On Friday, Kinross Gold Corporation (NYSE:KGC), ended its last trade with -3.27% loss, and closed at $2.07.
Kinross Gold Corporation, together with its auxiliaries, engages in the acquisition, exploration, and development of gold bearing properties. It is involved in mining and processing gold and silver ores. The company’s gold production and exploration activities are carried out principally in Canada, the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania.
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