Latest Breaking Business News
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Yahoo pays ‘absurd’ dot-com premium for Tumblr but deal could be worth it
Marissa Mayer is buying companies like it's 1999. The Yahoo! Inc. chief executive officer yesterday announced the company will acquire blogging network Tumblr Inc., part of a plan to restore the Web portal to its heyday as an Internet darling. With US$13-million in sales last year, Tumblr's US$1.1-billion price tag represents the richest valuation for a dot-com company since 2000, ...
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Canada spawns its own breed of investor activism
Why banks need activist investors more than new rules But Canada has produced its own breed of activist. Toronto-based West Face Capital has taken on such diverse firms as Maple Leaf Foods, Talisman Energy, and SNC Lavalin Group. The domestic trend is continuing with the launch of another firm, Smoothwater Capital Corp., which has activist strategy targeting ';small to mid-cap Canadian ...
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Microsoft’s Next-Gen Xbox to be More Than a Console
The technology giant will unveil its latest console tonight. The company managed to keep most of the details on the new Xbox a secret. A few hours ago, however, part of the heavy curtain was lifted ...
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How to tame your work week
(MoneyWatch) M.R. Nelson, a project manager at a biotech company, recalls being in the office kitchen once when she overheard a curious conversation. Two colleagues lamented their endless workloads. One reported working 60 hours a week for as long as he could remember. The other claimed he was there until 7 p.m. every night, even though he was working through lunch. As Nelson writes in her new ...
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Housing recovery boosts Home Depots results
HD ) posted an 18 percent increase in its net income for the first quarter thanks to the ongoing housing recovery. Its quarterly results topped Wall Street's view and the world's biggest home improvement chain boosted its full-year earnings and revenue forecasts Tuesday. Shares climbed 4 percent in premarket ...
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German central bank Economy to improve markedly
FRANKFURT, Germany Germany's central bank expects the country's economy to improve "markedly" in the second quarter -- a development that could boost the wider eurozone as it struggles to get out of recession. The Bundesbank said Tuesday that Europe's largest economy should expand more robustly after a weak first three months of the year. Germany grew only 0.1 percent in ...
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JPMorgan Chase Shareholder Showdown
Morning Business Memo… A shareholder showdown today at the annual meeting of JPMorgan Chase in Tampa. A vote is expected on a proposal to separate the jobs of chairman and CEO at the big bank. If the effort started by several large pension funds is successful it would be mean a demotions for Jamie Dimon, who now holds both jobs. Under Dimon’s watch JP Morgan has been more ...
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Mayor Parker shows off Houston to Wall Street Journal
Houston Mayor Annise Parker recently got the chance to show The Wall Street Journal why the Petro Metro has been named the coolest place to live in the U.S. and a boomtown. Houston Mayor Annise Parker recently got the chance to show The Wall Street Journal why the Petro Metro has been named the coolest place to live in the U.S. and a boomtown. As part of The Weekend Interview piece, Parker took ...
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Microsoft falls in global brand ranking Apple still No. 1
Microsoft is No. 7 in the ranking of worldwide brands. Microsoft Corp. fell two spots in the worldwide ranking of most valuable global brands to No. 7, while Apple Inc. retained its No. 1 ranking. Apple's brand value is now worth $185 billion. Microsoft's (NASDAQ: MSFT) brand value fell 9 percent from last year to $69.8 billion. Amazon.com Inc. (NASDAQ: AMZN) moved up four spots in the ...
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Caterpillar union to resume talks on Thursday
Contract talks between Caterpillar Inc. and the United Steelworkers union at Caterpillar's plant in South Milwaukee will resume Thursday. Earlier this month Steelworkers Local ...
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Bank of Ireland reverses mortgage rate increase for 1200 borrowers
In February, Bank of Ireland told 13,500 customers on tracker mortgages it planned to increase the margin on their loans. Photograph: Luke ...
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UK inflation since 1948
Inflation in the UK has fallen for the first time since autumn 2012, hitting 2.4% in April. Get the full data over time, see how it compares with pay - and understand the new ...
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Why Nick Buckles ran out of chances at G4S
a group-wide profits warning , delivered a fortnight ago, was far more serious in the eyes of investors. Buckles had run out of chances.His problem was that he had promised one thing (a 7% margin) but warned two months later that he would produce something different this year (6.5%). When your turnover is 7.5bn, half a percentage point matters. Of course, there was a long list of explanations: ...
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At XBox Reveal Microsoft Hides A Priceless Asset
Xbox Live executive Marc Whitten introduces SmartGlass technology at the Microsoft Xbox E3 2012 (Image credit: AFP/Getty Images via @daylife) ...
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Markets Greencore reports 6 rise in half-year profits Glanbias chief to retire
announced that John Moloney, group managing director, has notified the board that he wishes to retire by the end of 2013, having been due to retire in 2014. Siobhn Talbot, group finance Director, has been appointed as John Moloney's successor. She will become group managing director designate from June 1, 2013 to ensure a smooth transition of the leadership of the ...
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JPMorgan on Edge Over Jamie Dimon Vote
JPMorgan Chase Chairman and Chief Executive Jamie Dimon of his chairman title, some worry about what will happen if shareholders win what will likely be a close vote. JPMorgan's annual meeting on Tuesday will bring to head a months-long and bitter shareholder campaign demanding more oversight ...
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Best Buy Misses Sales Forecast
Best Buy reported weaker-than-expected revenue on Tuesday and warned that a slew of investments to win back shoppers could squeeze profits in the near term. The news overshadowed a better-than-expected profit from the world's largest consumer electronics chain in the first quarter and sent its shares down in pre-market ...
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Jamie Dimon Vote Should Be 75-25 Bove
CNBC's Kayla Tausche reports the latest details on the fate of Jamie Dimon's dual titles at JPMorgan. And, Donald Powell, former Bank of America board member; and Dick Bove, Rafferty Capital, share their thoughts on whether the role of chairman and CEO should be ...
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Microsofts Xbox revamp Is the sun setting on game consoles
With the rise of mobile and social games, the revival of PC gaming and a general proliferation of options for both developers and players, it's understandable why some are wondering whether consoles matter anymore. ...
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Best Buy beats again on earnings but sales are short of mark
An employee attaches price tags to displays at a Best Buy Co. store in Emeryville, California, U.S., on Tuesday, March 27, 2012. Best Buy Co., the electronics, appliance and entertainment retailer, is expected to release quarterly earnings on March 29. Photographer: Three months ago, Best Buy Co. Inc. cheered up investors with a better-than-expected show of revenue and earnings, and investors ...
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Easing Inflation Likely To Be Temporary
Plunging fuel and air fare costs helped inflation ease for the first time in six months in April but economists warned the squeeze on earnings is set to intensify again. The Office for National Statistics (ONS) measured the annual rate of CPI inflation at 2.4% last month - dropping from 2.8% in March. It was a bigger-than-expected easing in the core measure as overall transport costs were ...
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Vodafone says comfortable with Verizon Wireless status quo
LONDON (Reuters) - Vodafone said on Tuesday that it was very comfortable with its successful U.S. joint venture Verizon Wireless, but if an offer materialized that would benefit it more than the status quo, it would consider it. Vodafone's ...
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Best Buy Profit Beats Estimates Sales Miss
Best Buy Co Inc reported weaker-than-expected quarterly sales on Tuesday and warned that a slew of investments to win back shoppers could squeeze profits in the near term. The news overshadowed a better-than-expected profit from the world's largest consumer electronics chain in the first quarter and sent its shares down 4 percent in premarket trading. Net earnings from continuing operations ...
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China Central Bank Denies Report on Capital Account Liberalization Proposal
The People's Bank of China Tuesday denied a local news report that the central bank governor and prominent economists have advised Chinese leaders on a plan to fully liberalize the country's capital account by the end of 2015.A bank official told the Wall Street Journal that the report was inaccurate.The 21st Century Business Herald, citing unnamed sources, said Tuesday that the ...
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Italy Banks Lobby ABI 2012 Profit Falls by 80
Italian banks' profitability declined by 80% to 1 billion euros ($1.3 billion) in 2012 as the recession affecting the country continued to weigh on banks' bottom line, the country's association of banking, ABI, said Tuesday.ABI said that if one-off write downs, carried out by banks during last year, were taken into account, the aggregate results for the sector become a EUR1.8 ...
Colorado Springs Digest
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Budget crises and sustainable development for city
Colorado Springs is facing tough times, almost everyone is aware of it, and almost all residents are feeling the effects of the city’s budget crisis. Public pools have been closed, though three of the five public pools have now been re-opened, and some residents have found themselves cutting the grass at local parks due to wide-spread layoffs of city employees.
The present is a tight and frugal one for the city. Recently, Colorado Springs news media reported that there was now a significant brain drain hampering the future recovery of the city. A brain drain is perhaps a loaded term for the situation, it suggests a mass exodus of highly-skilled and experienced people looking for bigger and better opportunities. Read more
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