TopNews

Walt Disney has said that it is extending Robert Iger's tenure as chief executive officer until June 2016, which would postpone his planned succession during the next year.

The company said in a statement that, Mr. Iger will continue to work as both the chairman and CEO until 2016. Under earlier plans, he was to leave the title of CEO on April 1, 2015 but the company extended the tenure citing the need for continuity and his record of success at the world's largest entertainment company.

Citigroup has said that it has agreed to pay about $968 million to Fannie Mae to resolve claims on 3.7 million troubled home loans.

Fannie Mae has been seeking compensation from banks for misrepresenting the quality of home loans that were sold to the company during the times of the housing crisis. During the financial crisis, the housing market crashed and homeowners started defaulting on these loans and this resulted in Fannie facing billions of dollars in losses.

Carl Icahn, an activist investor, has said that it is increasing the offer price for a stake in computing giant, Dell to $5 billion.

Mr. Icahn increased the bid value by almost double and also asked the company to issue a tender offer for 1.1 billion shares at $14 each. He wrote in a letter to Dell shareholders and members of its special committee that he has already secured lender commitments for $5.2 billion in debt financing. He pointed out that the remarks would dispel suggestions that the funds will not be available for the acquisition.

It is believed that pharmaceutical companies such as Pfizer Inc and Novartis AG might be planning to bid for Onyx Pharmaceuticals.

Onyx Pharmaceuticals might ensure a strong revenue stream through tis cancer drugs. Onyx focuses on biotechnology and has a market value of around $9.5 billion. The company management has decided to offer the stake following expression of interests from some companies, whose names were not disclosed.

New Delhi, July 2 : Actress Sienna Miller and her fiancé Tom Sturridge have been announced as the new faces of Burberry, British luxury fashion house.

Continuing Burberry's 'couples concept', the duo shared some raunchy kisses for fashion photographer Mario Testino's new ad campaign for the brand, reports contactmusic. com.

"This was a shoot full of love and laughter. It was such a treat to work with Sienna and Tom, and to capture their magic together," said Christopher Bailey, Burberry's chief creative officer.

Bangalore, July 1 : There would be no increase in train fares during the 2013-14 fiscal despite rising diesel price, Railway Minister Mallikarjun Kharge said Monday.

"There is no proposal to hike rail fares again this year and the railways will absorb the additional cost of diesel price, which has been going up marginally," Kharge told reporters here.

Passenger fares were increased across the board from Jan 22 by then minister Pawan Kumar Bansal to mobilise an additional Rs. 6,600 crore per year after successive railway ministers in the past kept these unchanged for a decade.