Morning Beat: Barclays PLC (ADR) (BCS), Netflix, Inc. (NFLX), and General Motors Company (GM)
Barclays PLC (ADR) (NYSE:BCS) plans to slash as many as 1,200 jobs as part of restructuring efforts targeting its investment banking arm. Most of the cuts will be undertaken in the Asia-Pacific region. The UK bank is also pulling out of Australia, Taiwan, and South Korea among other countries in the region.
A notable exit is in Russia whose operations Barclays PLC (ADR) (NYSE:BCS) says will be covered from London. Operations in China remain intact even as the bank reiterates plans to withdraw from some Central European and Middle Eastern nations.
The cutbacks are part of a larger plan announced in 2014 that seek to refocus the bank’s operations in the UK and the US.
Netflix, Inc.(NASDAQ:NFLX) plans to forge forward with the blocking of VPN Proxies even as it faces the threat of international users dropping off. Speaking at a recent earnings call CEO, Reed Hastings, reiterated they don’t expect huge changes even as they ramp their efforts on the same.
The streaming giant says copyright holders demand tough restrictions on VPN usage, one of the reasons they are cracking the whip on the same. Even with the blocking, Netflix, Inc. (NASDAQ:NFLX) says it is working to acquire global license so that it can be able to offer the same library to all its users across the globe. Even with the planned blocking, VPN providers will always find a way around the restrictions.
Maven is the new car sharing service that General Motors Company (NYSE:GM) plans to use to address the needs of people who do not want to own cars. The service launches in Ann Arbor Michigan, the automaker having reiterated plans to launch it in other cities.
Cars will be spread across 21 locations where interested parties will be able to rent a car of their choice for $6 an hour with insurance and fuel. A mobile app will let users find a book a car of their choice without having to pay any membership as is the case with Zipcar.
All vehicles up for renting will come with both Apple Inc. (NASDAQ:AAPL)’s CarPlay and Android Auto.
Apple Inc. (NASDAQ:AAPL) is opening an iOS app Development Center in Italy as it moves to train the next generation app developers. Located in Naples the center will support teachers by offering a specialized curriculum
Apple Inc. (NASDAQ:AAPL) plans to expand the program to other countries as it strives to impact students with practical skills that will help them develop apps for iOS devices. Limited at the moment are details of opportunities on offer with the program and what the curriculum will entail.
The app store according to Apple has helped create 75,000 jobs in Italy from which European developers have earned over $11.1 billion.
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