Dell Inc. is expected to soon acquire cloud computing and big data solution provider EMC Corp. for $60 billion, but the deal may mean a delay in payments for EMC suppliers. Dell has taken more than 100 days to pay suppliers in the most recent quarter, while EMC currently takes just 42 days, on average.
The state of New York filed a civil lawsuit against Volkswagen AG today, alleging senior executives at the car company hid evidence related to the diesel emissions scandal. New York is now the third state to file a lawsuit alleging VW executives deceived regulators and violated environmental laws.
The International Monetary Fund cut its global growth forecasts again due to remaining uncertainty following the Brexit vote last month. IMF now expects 2016 global GDP to grow 3.1% and 2017 global GDP to grow 3.4%, both down 0.1% from April estimates.
Microsoft is expected to announce fiscal fourth quarter results later today, and analysts are wondering if the company’s major LinkedIn acquisition helped to push up earnings at all. Microsoft’s third quarter revenue fell 6%, what one analyst called disappointing but indicative of the issues Microsoft faces.