The Palo Alto, California based Hewlett-Packard Co's shares fell on Tuesday during late trading hours following the company's quarterly revenue and earnings outlook which could not match the expectations of Wall Street.

The US Citizenship and Immigration Services (USCIS) made an announcement that says, starting May 26, the spouses of H-1B and a few other visa holders would be eligible to work in the U. S. This move was applauded by many Indian techies and other Asian associations.

This announcement on Tuesday could be the first reform to be put into practice which is aimed at high-skilled immigrants.

On Monday, the New York drug maker Bristol-Myers Squibb Co. said that it will acquire Flexus Bioscience Inc., which a privately owned drug manufacturer. The deal will be worth around $1.25 billion. The deal is an effort of Bristol-Meyers to add some promising cancer-fighting products into its list of offerings.

Valeant Pharmaceuticals International is acquiring Salix Pharmaceuticals, the maker of gastrointestinal drugs in an all-cash deal which is worth approximately $10.1bn. The announcement came from both the companies on Sunday.

In a news release, the drug makers said that the deal for was approved by the boards of directors of both the companies.

Last year, A. G. Lafley, Procter & Gamble's CEO had announced that the consumer goods and personal care products company planned to revamp the brand portfolio majorly. Recently it was noted that P&G plans spin off or sell off about one hundred of its brands by the summer this year.

Shinzo Abe's cabinet members in Japan say that they are ready to endure a slowdown in inflation for a short-term as a consequence of the collapsing oil prices by around half starting from the middle of the previous year.

A risk analysis report of the federal government's Department of Transportation predicts that in the coming two decades trains carrying crude oil or ethanol on an average will derail ten times in one year which will cause damage of worth $4 billion or more.