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  • For Goldman Sachs and Morgan Stanley, boring is beautiful

    For Goldman Sachs and Morgan Stanley, boring is beautiful

    In 2009, John Mack, then chief executive of Morgan Stanley, agreed to buy Citigroup's Smith Barney retail brokerage business over time, a deal that closed in the middle of 2013. With that purchase, about half of Morgan Stanley's annual revenue comes from wealth and investment management, which tends to fluctuate less than trading revenue.

  • Google misses revenue target, ad prices slide

    Google misses revenue target, ad prices slide

    Google's core Internet business revenue climbed 19 per cent to $15.42 billion in the first quarter from $12.95 billion in the year-ago period.

  • BlackBerry may consider exiting handsets, eyes investments

    BlackBerry may consider exiting handsets, eyes investments

    Canada's BlackBerry, which has lost most of the smartphone market to Apple Inc's iPhone and gadgets powered by Google Inc's Android operating system, has laid off about 9,500 employees, or more than half its work force over the last three years, as it has rushed to cut costs in the face of mounting losses.

  • New Zealand's Steel and Tube to acquire Tata Steel unit

    New Zealand's Steel and Tube to acquire Tata Steel unit

    New Zealand's Steel and Tube ltd is to acquire the local business of Tata Steel, the company said on Tuesday.

  • GM to recall 1.5 million vehicles to fix electric power steering issue

    GM to recall 1.5 million vehicles to fix electric power steering issue

    The company also said on Monday it expects to take a charge of up to $750 million in the first quarter, primarily related to recalls announced in the quarter. This includes a previously disclosed $300 million charge for three recalls announced on March 17, and the ignition switch recall on February 25.

  • Facebook to use satellites, drones to spread the Internet

    Facebook to use satellites, drones to spread the Internet

    Facebook is following in the steps of Google Inc, the world's largest Internet search engine, whose Google X division is working on a variety of so-called "moonshot" projects including self-driving cars and wearable computers.

  • Wal-Mart sues Visa for $5 billion over card swipe fees

    Wal-Mart sues Visa for $5 billion over card swipe fees

    Wal-Mart contends that that the way Visa set swipe fees violated antitrust regulations and generated more than $350 billion for card issuers over the nearly 9-year period in question, in part at the expense of the retailer and customers.

  • S&P wants to split up $5 billion US ratings lawsuit

    S&P wants to split up $5 billion US ratings lawsuit

    S&P has complained that the government sued in retaliation for its 2011 decision to strip the United States of its "triple-A" rating, a downgrade that it said was prompted by concern about Washington's ability to manage the country's debt.

  • Amazon follows Google in slashing cloud computing prices

    Amazon follows Google in slashing cloud computing prices

    Amazon, which pioneered public cloud computing in 2006, remains a dominant force in the industry. Its fast-growing AWS business helped transform the company from traditional online retailing into a tech industry giant, and is often cited by investors as a major pillar of its future growth.

  • Bank of America to pay $9.3 billion to settle mortgage bond claims

    Bank of America to pay $9.3 billion to settle mortgage bond claims

    The regulator of Fannie Mae and Freddie Mac, the Federal Housing Finance Agency, had accused the bank of misrepresenting the quality of loans underlying residential mortgage-backed securities purchased by the two mortgage finance companies between 2005 and 2007.

  • Customers receive credits from e-books case and yawn

    Customers receive credits from e-books case and yawn

    The amount received depends on how many books a customer bought that were published by defendants. Customers are eligible to receive $3.17 for each New York Times bestseller and $0.73 for each non-New York Times bestseller.

  • Facebook to buy virtual reality goggles maker for $2 billion

    Facebook to buy virtual reality goggles maker for $2 billion

    Facebook ended 2013 with $11.45 billion in cash and marketable securities. The company's $19 billion acquisition of WhatsApp includes $4 billion in cash. The Oculus deal comprises $400 million in cash and 23.1 million shares of Facebook common stock.

  • Disney to buy YouTube network Maker Studios for $500 million

    Disney to buy YouTube network Maker Studios for $500 million

    Maker, founded in 2009, is one of the largest video production networks on Google Inc's YouTube. Its producers target the younger millennial generation, known for its high appetite for online video.

  • Cisco joins cloud computing race with $1 billion plan: report

    Cisco joins cloud computing race with $1 billion plan: report

    Cisco, which mainly deals in networking hardware, wants to take advantage of companies' desire to rent computing services rather than buying and maintaining their own machines.

  • Alibaba invests $215 million in messaging app Tango

    Alibaba invests $215 million in messaging app Tango

    Alibaba invested $215 million while the remainder of the funding came from Tango's prior investors, which include Access Industries, Draper Fisher Jurvetson and Jerry Yang, a co-founder of Yahoo Inc, Tango said.

  • Oracle falls 4% after Q3 profit misses estimates

    Oracle falls 4% after Q3 profit misses estimates

    For the three months through February 28, the business software maker earned $2.57 billion, or 56 cents per share, up from $2.5 billion, or 52 cents per share, in the same quarter the year before. Excluding one-time items, the company posted an adjusted profit of 68 cents per share.

  • US approves electric headband to prevent migraine

    US approves electric headband to prevent migraine

    The U.S. Food and Drug Administration said on Tuesday it approved a Belgium-made nerve-stimulating headband as the first medical device to prevent migraine headaches.

  • Blackstone, TPG offer $5.5 billion for Gates Global: report

    Blackstone, TPG offer $5.5 billion for Gates Global: report

    The deal would be one of the largest private equity transactions so far this year after Cerberus Capital last week announced the USD 9.1 billion purchase of supermarket Safeway, source said yesterday.

  • Bill Gross accuses departing PIMCO chief of undermining him

    Bill Gross accuses departing PIMCO chief of undermining him

    Gross, who oversaw more than US dollar1.91 trillion in assets as of the end of last year and who is known on Wall Street as the 'Bond King', said in a phone call to Reuters last Friday: "I'm so sick of Mohamed trying to undermine me."

  • Yahoo to stop user access of services with Facebook, Google IDs

    Yahoo to stop user access of services with Facebook, Google IDs

    The change, which will be rolled out gradually according to a Yahoo spokeswoman, will require users to register for a Yahoo ID in order to use any of the Internet portal's services.

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