Latest Breaking Business News
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Yahoo Buys Tumblr As David Karp Stays As CEO
Internet giant Yahoo! has bought micro-blogging site Tumblr in a deal thought to be worth around $1.1bn (723m). Yahoo! chief Marissa Mayer confirmed the anticipated takeover in a statement posted on the site - in which she also said Tumblr founder David Karp would stay on as chief executive. "I'm delighted to announce that we've reached an agreement to acquire Tumblr," ...
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Former GOP Senator Judd Gregg named CEO of lobbying group SIFMA
NEW YORK (Reuters) - The Securities Industry and Financial Markets Association named former Republican Senator Judd Gregg as its chief executive officer, the lobbying group said ...
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Campbell earnings rise on ready-made soup sales
-0.46% reported its third-quarter profit rose to $181 million, or 57 cents a share, from $177 million, or 55 cents a share, a year earlier. Adjusted earnings per share were at 62 cents per share, compared with 56 cents per share a year earlier. Revenue rose to $2.09 billion, from $1.82 billion a year earlier, the food company said Monday. Analysts had expected earnings of 56 cents a share on ...
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Plains Exploration to Pay $3 Special Dividend if Freeport-McMoRan Deal Closes
Plains Exploration & Production Co.'s (PXP) board declared a special dividend of $3 a share, which is conditioned upon the oil company's completed merger with Freeport-McMoRan Copper & Gold Inc. (FCX).Plains Exploration shareholders are scheduled to vote on the deal Monday.Freeport-McMoRan agreed in December to pay the cash-and-stock equivalent of $50 a share for Plains ...
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HSBC John Thornton to Resign Chairmanship Of HSBC North America
Banking and financial services provider HSBC Holdings PLC (HSBA.LN), said Monday that John L. Thornton has decided not to seek re-election to the board of HSBC at the Annual General Meeting on May 24, and to resign his Chairmanship of HSBC North America Holdings Inc. with effect from the same date.MAIN FACTS:-John L. Thornton, an independent non-executive Director of HSBC Holdings PLC has ...
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Stock Futures Tick Lower
FOX Business: Capitalism Lives Here U.S. stock-index futures fell mildly on Monday as traders mulled a smattering of corporate news and braced for a week full of headlines on the Fed's monetary-policy stance. Today's Markets As of 8:00 a.m. ET, Dow Jones Industrial Average futures fell 11 points to 15304, S&P 500 futures dipped 1.3 points to 1662 and Nasdaq 100 futures slumped 4 ...
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Cybercrime that starts with a phone call
phishing attacks are getting more sophisticated. And the latest trend in cybercrime appears to include a preparatory phone call. Security software company Symantec is reporting a variation on such schemes that it calls "spear phishing." The targeted company still gets a malware-packed email disguised as a legitimate business message, but the twist is that the criminal calls ahead to ...
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Yahoo Tumblr deal a play for young mobile users
Yahoo announced the acquisition of the blogging site Tumblr , after the Yahoo board approved the $1.1 billion purchase on Sunday. The Tumblr acquisition is said to be part of Yahoo CEO Marissa ...
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Chesapeake names Robert Douglas Lawler as new CEO
CHK ) has named Anadarko Petroleum executive Robert Douglas Lawler as its new CEO. The appointment of the 46-year-old Lawler comes after a tough year for Chesapeake. Its former ...
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Long-term care Ignore it at your own peril
Will good health save you money in retirement? If you've done a good job with this difficult task, congratulations! But you're not finished yet. There's one more step to this task: Protect your good plans from getting blown up by potentially ruinous long-term care expenses. Welcome to Week 14 of my ...
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Yahoo buys blogging forum Tumblr for $1.1 billion in boldest move yet under CEO Marissa Mayer
SAN FRANCISCO - Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet icon that had fallen behind the times. The deal announced Monday represents Mayer's boldest move yet since she left Google 10 months ago to lead Yahoo's latest comeback attempt. It marks Yahoo's most expensive acquisition since the Sunnyvale, Calif., ...
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In survey economists says consumers poised to boost spending offset government cuts
WASHINGTON - Consumer spending is likely to pick up this year, while government spending declines at a faster rate, according to a survey of business economists. The economists predict that the U.S. economy will grow 2.4 percent this year and 3 percent next year. That's unchanged from their forecast in February. But they are more bullish on consumer spending and housing than they were ...
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Consumer Spending to Pick Up Survey
Consumer spending is likely to pick up this year, while government spending declines at a faster rate, according to a survey of business economists. The economists predict that the U.S. economy will grow 2.4 percent this year and 3 percent next year. That's unchanged from their forecast in February. But they are more bullish on consumer spending and housing than they were three months ago, ...
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Actavis to Buy Warner Chilcott
Actavis , which has been the subject of intense takeover speculation, said on Monday that it had struck a deal to buy specialty pharmaceuticals ...
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GE Capital to Pay Big Dividend to GE
General Electric , will return $6.5 billion worth of dividends back to its parent company over the course of the year, the company announced on Monday. In a statement, GE Capital said that the big dividend would constitute 30 percent of its total 2013 earnings, having already paid $447 million back to GE in the first quarter. The company also plans to pay $4.5 billion in special dividends back ...
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Dell to Icahn Cannot disclose more information
Dell Inc said in a letter to suitors Carl Icahn and Southeastern Asset Management that the company would not provide more information about itself unless the board determined that their proposal was "superior" to founder Michael ...
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FirstGroup Shares Plunge Amid 87 Profit Drop
Shares in the transport company FirstGroup have plunged dramatically after it announced a 615m fund-raising rights issue in a bid to reduce its heavy debt burden. During midday trading the shares had dropped more than 20% to 179p. The move comes after the bus and train company's latest results showed that pre-tax profits dropped by a massive 87% to £37m last year. First Group ...
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Actavis to buy Warner Chilcott in $8.5 billion stock deal
SAN FRANCISCO - Yahoo Inc's board has approved a deal to buy blogging and social networking site Tumblr for $1.1 billion in cash, the Wall Street Journal cited people familiar with the matter as saying on ...
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Stock futures little changed after records acquisitions eyed
NEW YORK (Reuters) - Stock index futures were little changed in light volume on Monday as investors search for catalysts after major equity indexes closed Friday for a fourth consecutive week of ...
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Unclear whether Feds bond buying has helped economy Fisher
Federal Reserve Bank of Dallas President Richard Fisher speaks about the concept of breaking up 'too big to fail' banks to a breakout group at the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, March 16, ...
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Europe Markets Europe stocks slip as miners slump
LONDON (MarketWatch) -- European stock markets tracked U.S. stock futures lower in choppy trade on Monday, with mining firms dropping after broad-based losses in metals ...
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Campbell Soup 3Q Profit Rises
M – Campbell Soup Co reported higher quarterly earnings on Monday, after the company worked to improve its soup products. The world's largest soup maker said net income was $181 million, or 57 cents per share, in the fiscal third quarter ended April 28, up from $177 million, or 55 cents per share, a year ...
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Banco do Brasil to Post One-Time Gain of BRL4.7 Billion in Second Quarter Due to BB Seguridade IPO
Banco do Brasil (BDORY, BBA3.BR), Latin America's largest bank in terms of assets, on Monday said it will post a one-time gain worth 4.7 billion Brazilian reais ($2.35 billion) in the second quarter as a result of the initial public offering of its pensions and insurance company.Earlier this year, state-run Banco do Brasil SA said it raised BRL11.47 billion in the spinoff of BB Seguridade ...
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Chinas Fosun Eyes $1 Billion Private-Equity Fund
Chinese conglomerate Fosun International Ltd. (0656.HK) is raising a $1 billion private-equity fund that will invest in Europe and international companies seeking to expand in China, according to a person familiar with the situation.The company, which has made investments in companies like French resort operator Club Mediterranee S.A. (CU.FR), will have the first close of the China Momentum Fund ...
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European Shares Stall at Five-Year High
European shares extended gains to set a new five-year high for a fourth straight session on Monday, with investors flocking to buy riskier assets such as equities on fresh signs of a recovery in the global economy. At 0707 GMT, the FTSEurofirst 300 index of top European shares was 0.2 percent firmer at 1,250.68 points, the highest since the middle of 2008. The index is up more than 10 percent ...
Italy Digest
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Italy heavily involved in multi billion euro South Stream project
Italy’s natural gas company ENI is a major investor in the South Stream natural gas pipeline project, but the infrastructure development is being held up by a number of trans-national issues, which the Italian government believes is detrimental to the country’s energy security.
South Stream is the name of the transit pipeline that is intended to transport natural gas from Russia to Southern Europe, bypassing Belarus and the Ukraine. It has been highlighted by Prime Minister Berlusconi as important for the energy needs of Italy as it will eliminate the so-called ‘middle man’ and enhance the security of our energy supply, an issue that was underscored in 2005 when ongoing business disputes between Russia and the Ukraine spilled over into trans-national political issues. Read more
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