April 18, 2014 07:40 (IST)
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.
San Francisco | April 17, 2014 07:37 (IST)
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.
New York | April 10, 2014 07:24 (IST)
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.
Wellington | April 08, 2014 07:50 (IST)
New Zealand's Steel and Tube ltd is to acquire the local business of Tata Steel, the company said on Tuesday.
April 01, 2014 07:51 (IST)
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.
San Francisco | March 28, 2014 07:49 (IST)
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.
March 28, 2014 07:39 (IST)
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.
March 27, 2014 08:30 (IST)
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.
San Francisco | March 27, 2014 08:18 (IST)
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.
Washington | March 27, 2014 08:06 (IST)
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.
New York | March 26, 2014 07:51 (IST)
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.
San Francisco | March 26, 2014 07:20 (IST)
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.
Los Angeles | March 25, 2014 08:17 (IST)
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.
March 24, 2014 12:51 (IST)
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.
March 20, 2014 11:57 (IST)
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.
March 19, 2014 08:35 (IST)
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.
Washington | March 12, 2014 11:55 (IST)
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.
New York | March 11, 2014 07:43 (IST)
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.
March 07, 2014 08:39 (IST)
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."
San Francisco | March 05, 2014 09:12 (IST)
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.