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Virginia-based Retailer of hardwood flooring Lumber Liquidators said that it is going to pay for the safety testing of laminate floors for customers in order to help ease concerns.

Toano, Virginia, company has grown to become one of the largest retailers of hardwood flooring in the US. The company has discussed about the issues raised following a '60 Minutes' report. According to the report, laminate flooring of the company that was made in China had high levels of formaldehyde, a carcinogen.

Earlier this month, it has been said that laminate flooring of the company did not meet California's standards. But according to Lumber Liquidators, it fulfills all regulations for its products.

Fewer companies have upgraded their personal computers owing to which Intel Corp has sliced almost $1 billion from its first-quarter revenue forecast. Intel Corp.'s shares declined by more than 5% after the lower-than-expected revenue guidance from the chipmaker.

Less number of companies replaced desktop computers that were running on outdated Microsoft operating systems, which led to weak demand for its chips. Intel said that it is difficult challenging macroeconomic and currency conditions, especially in Europe.

A source at Chinese e-commerce company Alibaba Group Holding Limited has revealed that the popular ecommerce platform is planning to invest about $200 million in photo messaging application Snapchat. According to the source, the deal will help the company grow its mobile business.

According to reports of Bloomberg, the $200 million investment will value Snapchat at about $15 billion. The latest valuation for Snapchat is impressive considering the fact that it was offered $3 billion by Facebook in 2013.

People familiar with the matter said that the deal will help Alibaba improve its presence in the United States market this year. The move will allow American retailers a new way to sell to China's middle class.

According to a US Department of Energy report, wind power could produce a fifth of the country's electricity by 2030, which is 4.5% more than today. It has been found that wind could become one of the top sources of electricity in America.

According to the report, titled as 'Wind Vision: A New Era of Wind Power in the United States', compiled by the US Department of Energy', wind could provide 20% of the US's electricity by 2030, and 35% by 2050. The report also tells about targets for growth and according to the estimates, these could be easily achieved over long term. And US wind power could be doubled in the next five years with proper policies, according to the report.

The CEO of world's largest beverage company Coca-Cola, Muhtar Kent was offered a pay package of $18.1 million in the previous years after the company failed to meet its own growth targets. Kent, 60, has been working with the beverage company since 2008.

According to a filing made on Thursday with the Securities and Exchange Commission, the compensation is on par with the $18.2 million, which Kent received in 2013.

It is said that Kent's pay package might have been higher if Kent had accepted a $2.5 million cash performance bonus.

Kent said in a statement that he decided not to accept the bonus because the company has been planning to take some important decisions to improve its performance, and therefore there was a lot of work left to be done.

On Wednesday, the central banking system of the United States Federal Reserve released results of the second round of its stress tests called 'Comprehensive Capital Analysis and Review (CCAR)'. The stress tests included 31 big banks that are currently operating in the U. S. market.

While two foreign banks, Santander and Deutsche Bank, failed the tests, the remaining banks managed to pass the second round. According to reports, the result was not as bad as analysts had predicted.

Another bank, Bank of America, which somehow passed the test, was put on a 'warning' by the central banking system of the country. The multinational banking and financial services corporation headquartered in Charlotte was found to have some weaknesses in aspects of revenue modeling.