| United restarts 787 flights after grounding  | United Airlines is again flying the 787, four months after smoldering batteries forced the plane to be grounded worldwide.
| Read More »  Broadway's biggest theater sold to British group NEW YORK (AP) — Britain's biggest theater groups has reached across the Atlantic Ocean and bought Broadway's biggest theater from Live Nation Entertainment for about $60 million. Read More » Alaska unveils plan to assess gas, oil in ANWR JUNEAU, Alaska (AP) — The state of Alaska on Monday proposed a multiyear, multimillion-dollar plan aimed at determining the true oil and gas potential in the Arctic National Wildlife Refuge. Read More » Panel: Apple uses firms outside US to avoid taxes WASHINGTON (AP) — Apple Inc. employs a group of affiliate companies located outside the United States to avoid paying billions of dollars in U.S. income taxes, a Senate investigation has found. Read More » Trade group SIFMA names ex-Senator Gregg as CEO  | By Jed Horowitz NEW YORK (Reuters) - SIFMA, the U.S. securities industry's largest trade group, named former Senator Judd Gregg as chief executive officer, in a move that may signal a desire to mend fences with ordinary Americans and U.S. Congress. The Securities Industry and Financial Markets Association had been expected to give the post to interim chief executive and president Kenneth Bentsen, a veteran lobbyist, said a person close to the group. ...
| Read More » Apple's stateless subsidiaries lower tax bills: Senate report  | By Patrick Temple-West WASHINGTON (Reuters) - Using an unusual global tax structure, Apple Inc has held billions of dollars in profits in Irish subsidiaries to pay little or no taxes to any government, a Senate report on the company's offshore tax structure concluded on Monday. ...
| Read More » Judge tosses ex-BP executive's obstruction charge NEW ORLEANS (AP) — A federal judge on Monday dismissed one of the two counts in the indictment of a former BP executive who was charged with concealing information from Congress about the amount of oil that was leaking from the company's blown-out well in the Gulf of Mexico in 2010. Read More » Rockwood pigments businesses attract private equity bids: sources By Michael Erman and Greg Roumeliotis NEW YORK (Reuters) - Specialty chemicals producer Rockwood Holdings Inc's pigments businesses have attracted offers from buyout firms including Blackstone Group LP and Advent International Corp, several people familiar with the matter said. The auction for the assets, in which Apollo Global Management LLC , Bain Capital LLC, Golden Gate Capital LLC and Rhone Group LLC are also participating, is now in its second round, with meetings with management taking place, the people said. ... Read More » Exclusive: U.S. Air Force to move forward target date for F-35 use  | By Andrea Shalal-Esa WASHINGTON (Reuters) - The U.S. Air Force plans to start operational use of Lockheed Martin Corp.-built F-35 fighter jets in mid-2016, a year earlier than planned, using a similar software package as the Marine Corps, two sources familiar with the plans said on Monday. The Air Force's decision to accelerate its introduction with a slightly less capable version of the F-35 software package means the planes will carry fewer weapons at first, although the software will later be upgraded to the final version, said the sources, who were not authorized to speak publicly. ...
| Read More » Prosecutors' subpoena of SAC's Cohen puzzles defense lawyers  | By Matthew Goldstein NEW YORK (Reuters) - The decision by prosecutors to compel Steven A. Cohen to testify before a federal grand jury about allegations of insider trading at his $15 billion hedge fund is leaving many criminal defense lawyers scratching their heads. In the past week, federal authorities have issued grand jury subpoenas seeking testimony from Cohen and others at SAC Capital, The New York Times first reported. Two people familiar with the matter confirmed to Reuters that subpoenas had been issued and Cohen was among those served. ...
| Read More » JPMorgan, under pressure, gives polling information to investors  | By Karen Freifeld and David Henry (Reuters) - JPMorgan Chase & Co , under pressure from the New York Attorney General's office, has agreed to give investors information about upcoming ballot votes, after the company that collects votes on the measures stopped giving out polling information last week. The bank's annual meeting is on Tuesday, and by far the most controversial matter up for vote is whether bank head Jamie Dimon should retain his chief executive role but be stripped of his chairman title. ...
| Read More » Warren Buffett gives young entrepreneurs 10 shares OMAHA, Neb. (AP) — Meeting Warren Buffett was exciting, but 10-year-old Matthew Meyer said winning $5,000 and 10 shares of stock in Buffett's company made Monday the best day of his life. Read More » Yahoo looks to regain its cool with Tumblr deal  | SAN FRANCISCO (AP) — After falling woefully out of fashion, Yahoo wants to be cool again while catering to the capitalistic demands of its shareholders. That goal led CEO Marissa Mayer to make a $1.1 billion bet on online blogging forum Tumblr in a risky acquisition that revolves around the vision and instincts of a 26-year-old entrepreneur who dropped out of high school to pursue his dream of bringing more beauty and creativity to the Internet.
| Read More » United Airlines to return all Boeing 787s to service this week  | CHICAGO (Reuters) - United Airlines said on Monday it expects to have its entire fleet of Boeing 787 Dreamliners back in service this week, as the airline's first flight with the new jetliner in four months landed safely in Chicago. "Every new airplane has issues," United CEO Jeff Smisek said after the flight landed ahead of schedule. "We've worked with Boeing to fix them. We're very confident." Smisek and Boeing CEO Jim McNerney were on the flight from Houston on Monday. ...
| Read More » U.S. court ruling favors Cubist in patent case versus Hospira (Reuters) - A federal court on Monday ruled in favor of Cubist Pharmaceuticals Inc on the interpretation of patent language in a case involving a generic challenge to its lead drug Cubicin by Hospira Inc . The ruling, in U.S. District Court in Delaware, is a positive development for Cubist in the ongoing case, which is scheduled to go to trial in February 2014, said Cubist spokeswoman Julie DiCarlo. Cubicin, an antibiotic injection used in hospitals to treat bacterial skin infections, is the company's primary revenue driver. ... Read More » Should we let wunderkinds drop out of high school?  | NEW YORK (AP) — It's one thing to say tech geniuses don't need degrees. After all, Bill Gates, Steve Jobs and Mark Zuckerberg all dropped out of college.
| Read More » Lease to Broadway's biggest theater sold  | NEW YORK (AP) — Britain's biggest theater group has reached across the Atlantic Ocean and bought the lease to Broadway's largest theater from Live Nation Entertainment for about $60 million.
| Read More » Raytheon to sign $2.1 billion arms sale to Oman : U.S. officials  | SHANNON, Ireland (Reuters) - Raytheon Co , one of the largest U.S. weapons makers, is expected to sign an estimated $2.1 billion deal to sell Oman an air defense system while U.S. Secretary of State John Kerry visits the Gulf state this week, U.S. officials said. One official, who spoke on condition of anonymity, told reporters the company was expected to sign a letter of intent with Oman to provide a ground-based air defense system. The official said the terms were still being negotiated and the deal's value was not yet final. (Reporting by Arshad Mohammed; Editing by Eric Beech)
| Read More » Kerry visits Oman for arms deal signing, talks on Syria, Mideast  | By Arshad Mohammed SHANNON, Ireland (Reuters) - U.S. Secretary of State John Kerry flies to Oman on Tuesday for Raytheon Co's signing of an estimated $2.1 billion arms deal and to consult on Syria and Iran, U.S. officials said. Oman is expected to sign a letter of intent to purchase a ground-based air defense system that would help protect against cruise missile or drone attacks, a senior U.S. State Department official told reporters aboard Kerry's plane. ...
| Read More » Lew taps government retiree pension fund WASHINGTON (AP) — Treasury Secretary Jacob Lew said late Monday he will begin tapping into two government employee retirement funds to buy more time before the U.S. Treasury is faced with the prospect of defaulting on the national debt. Read More » Exclusive: U.S. Air Force to move forward target date for F-35 use  | By Andrea Shalal-Esa WASHINGTON (Reuters) - The U.S. Air Force plans to start operational use of Lockheed Martin Corp.-built F-35 fighter jets in mid-2016, a year earlier than planned, using a similar software package as the Marine Corps, two sources familiar with the plans said on Monday. The Air Force's decision to accelerate its introduction with a slightly less capable version of the F-35 software package means the planes will carry fewer weapons at first, although the software will later be upgraded to the final version, said the sources, who were not authorized to speak publicly. ...
| Read More » JPMorgan, under pressure, gives up vote information | By Karen Freifeld and David Henry (Reuters) - JPMorgan Chase & Co , under pressure from New York officials, gave shareholders information about an upcoming vote that would increase oversight of Chairman and Chief Executive Jamie Dimon. But the ballot details may have come too late for some investors. The bank's annual meeting is on Tuesday and by far the most controversial matter up for vote is whether Dimon should retain his chairman title. ...
| Read More » Tesla Motors may repay U.S. loan by Wednesday: CEO  | (Reuters) - Tesla Motors Inc may repay its U.S. Department of Energy loan as early as Wednesday, Chief Executive Elon Musk said in a message on Twitter on Monday. Musk, a billionaire who owns 27.5 percent of Tesla, added that the company would move another announcement about its charging station network to next week. "Given govt loan repayment this week (prob Wed), Supercharger update will be next week," Musk said in his post. A Tesla spokeswoman confirmed that Musk was referring to the full repayment of the DOE loan. Last week, Tesla said it would use $452. ...
| Read More » Asia stocks muted ahead of Fed meeting  | BANGKOK (AP) — Asian stock markets struggled to post gains Tuesday as investors waited for the U.S. Federal Reserve to telegraph what it plans to do next with its economic stimulus program.
| Read More » Average credit card debt, late payments fall in 1Q LOS ANGELES (AP) — Americans got better about paying their credit card debt on time in the first three months of the year, a period when many borrowers use income tax returns to tackle their holiday season debt. Read More » JPMorgan investors on edge over vote on Dimon; what if they win?  | By David Henry TAMPA, Florida (Reuters) - As final ballots come in on a proposal to strip JPMorgan Chase & Co 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 of Dimon, who has suggested that he may eventually leave the bank if he loses the vote. Investors say that while Dimon, 57, may need more oversight after the bank posted $6. ...
| Read More » Dollar firms as suspense builds, Asia shares dip  | By Masayuki Kitano SINGAPORE (Reuters) - "Will he or won't he?" is the question investors want answered at Wednesday's Congressional testimony by Federal Reserve Chairman Ben Bernanke, as suspense builds on whether the Fed will soon start tapering its bond-buying stimulus scheme - as hinted at by a Fed regional president last week. ...
| Read More » Asia stocks fall ahead of Fed statements | BANGKOK (AP) — Asian stock markets fell Tuesday as investors waited for the U.S. Federal Reserve to telegraph what it plans to do next with its economic stimulus program.
| Read More » Oil price rises to near $97 per barrel BANGKOK (AP) — The price of oil rose toward $97 per barrel Tuesday, but gains were checked as investors waited for the Federal Reserve's latest views on the U.S. economy. Read More » Committee nears final big immigration decisions  | WASHINGTON (AP) — The Senate Judiciary Committee hopes to nail down an elusive compromise on high-tech visas and may punt a controversy over gay marriage to the full Senate as it makes final drafting decisions on immigration legislation that grants a shot at citizenship to millions living in the country illegally.
| Read More » Senate to debate crop insurance in farm bill WASHINGTON (AP) — The Senate is debating cuts to the federally subsidized crop insurance program as it considers a massive farm bill this week. Read More » Credit Suisse replaces Morgan Stanley as No. 2 Asia prime broker  | By Nishant Kumar HONG KONG (Reuters) - The Asian prime brokerage unit of Credit Suisse has replaced Morgan Stanley as the second largest firm servicing the region's $148 billion hedge funds industry, a survey showed. The annual survey by industry tracker AsiaHedge, released this week, found that Goldman Sachs remains Asia's top prime broker with 179 clients and total assets under management of $24.6 billion. Credit Suisse overtook Morgan Stanley by adding 14 new clients and $2.4 billion in assets over the last year, a first for any prime broker in Asia, the survey showed. ...
| Read More » Head of embattled G4S security force retires LONDON (AP) — The chief executive of security firm G4S is to retire after a tumultuous year that saw the company fail to fulfill its Olympic contract. Read More » British inflation eases by more than expected LONDON (AP) — Official figures show that consumer price inflation in Britain eased in April, largely on the back of lower fuel prices and airfares. Read More » How the French economy compares to Germany's, UK's PARIS (AP) — Here's how the struggling French economy stacks up compared to Germany's and Britain's. Read More » Does France have right plan to revive its economy? PARIS (AP) — The man charged with reviving France's shrinking economy and attracting businesses to invest there is gaining a reputation for doing the opposite. Read More » World stocks mixed ahead of Fed statements | BANGKOK (AP) — World stock markets were mixed Tuesday as investors waited for the U.S. Federal Reserve to telegraph what it plans to do next with its economic stimulus program.
| Read More » Sprint to listen to Dish offer OVERLAND PARK, Kan. (AP) — Wireless company Sprint Nextel Inc. says it can now let Dish Network see its books and talk with Dish to see whether its competing offer to buy Sprint is better than its current deal with Japan's SoftBank. Read More » Housing recovery gives boost to Home Depot 1Q ATLANTA (AP) — Even though the weather was poor, Home Depot posted an 18 percent increase in its net income for the first quarter thanks to the ongoing housing recovery. Read More » Housing recovery boosts Home Depot 1Q results  | ATLANTA (AP) — Even though the weather was poor, Home Depot posted an 18 percent increase in its net income for the first quarter thanks to the ongoing housing recovery.
| Read More » Markets choppy ahead of Bernanke testimony | LONDON (AP) — Markets were fairly choppy Tuesday as investors were reluctant to push stock indexes up further ahead of a much-anticipated statement from U.S. Federal Reserve chairman Ben Bernanke.
| Read More » German central bank: Economy to improve 'markedly' FRANKFURT, Germany (AP) — 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. Read More » Burberry's profit hit by perfume deal's demise LONDON (AP) — British luxury brand Burberry says that the end of a perfume licensing deal depressed its bottom line, dragging net profit down 3 percent for the year ending on March 31. Read More » Best Buy reports 1Q loss on restructuring costs MINNEAPOLIS (AP) — Best Buy Co. is reporting a loss in its fiscal first quarter as it sold its stake in Best Buy Europe and works on a turnaround plan that includes cutting costs and closing some stores. Read More » AutoZone profit rises as costs fall  | (Reuters) - AutoZone Inc , the largest U.S. auto parts retailer, reported a 7 percent rise in quarterly profit as costs fell. Net income rose to $265.6 million, or $7.27 per share, in the third quarter, from $248.6 million, or $6.28 per share, a year earlier. Revenue rose 4.5 percent to $2.21 billion. (Reporting by Bijoy Koyitty in Bangalore)
| Read More » Vodafone annual profits up 1.9 percent LONDON (AP) — U.K.-based mobile telecoms company Vodafone has reported a 1.9 increase in annual profits despite a slowdown in much of its European operations. Read More » Best Buy profit tops estimates, sales miss  | (Reuters) - 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 fell to $97 million, or 29 cents a share, from $169 million, or 49 cents a share a year earlier. ...
| Read More » Stock futures little changed as market drifts near record high  | NEW YORK (Reuters) - Stock index futures slipped on Tuesday after the S&P 500 hit yet another intraday record in the previous session, with markets expected to drift sideways ahead of Congressional testimony from Fed chairman Ben Bernanke on Wednesday. * The U.S. economic calendar is thin and the market will continue to be vulnerable after the S&P and Dow industrials hit record highs on Monday. However, he expectation of continuing accommodative monetary policy from the Federal Reserve should continue to lend support to equities. ...
| Read More » Futures fall as markets await hints from Fed | NEW YORK (AP) — U.S. stock futures are down in light trading ahead of an appearance this week by Fed Chairman Ben Bernanke before Congress.
| Read More » Ireland says not to blame for Apple's low tax rate  | By Conor Humphries DUBLIN (Reuters) - Ireland said on Tuesday it was not to blame for Apple Inc's low global tax payments after the U.S. Senate said the company paid little or nothing on tens of billions of dollars in profits stashed in Irish subsidiaries. The Irish government, which has seen the luring of U.S. multinationals with low taxes as a key part of its economic policy since the 1960s, said its system was transparent and other countries were responsible if the tax rate paid by Apple was too low. ...
| Read More » JPMorgan may defeat proposal to split chairman, CEO roles: NYT  | NEW YORK (Reuters) - JPMorgan Chase & Co appears to have defeated a shareholder proposal to split the roles of Chairman and CEO Jamie Dimon, the New York Times reported on Tuesday. The Times, which cited people familiar with a preliminary vote count, said that the final outcome could still change and any margin of victory is still unclear. Dimon and the board have been locked in a contentious battle with some shareholders and proxy advisory firms that want to split his roles, saying it would improve corporate governance. ...
| Read More » Microsoft expected to reveal next-generation Xbox  | REMOND, Wash. (AP) — Will Xbox mark the spot once again for Microsoft?
| Read More » Shell says hunt for new CEO is underway  | By Andrew Callus THE HAGUE (Reuters) - The hunt for Royal Dutch Shell's next chief executive is underway, its chairman said on Tuesday, after CEO Peter Voser made what could be his last appearance at the oil group's annual shareholder meeting. Voser announced his surprise decision three weeks ago to step down in the first half of 2014, before his 56th birthday, and less than five years into the role. "The process has started," Shell chairman Jorma Ollila told Reuters after the meeting when asked about the succession plan. ...
| Read More » Sprint boosts buyout offer for Clearwire OVERLAND PARK, Kan. (AP) — Sprint says it has raised its buyout offer for the stake in Clearwire it does not already own by 14 percent. Read More » France: Drugmaker on trial, suspected in deaths  | NANTERRE, France (AP) — A French drug company and its founder are on trial on charges of misleading the public about a diabetes drug marketed as a weight loss method and suspected in hundreds of deaths.
| Read More » Leading Senate Democrat: IRS behavior intolerable  | WASHINGTON (AP) — A leading Senate Democrat says the Internal Revenue Service's targeting of conservative groups was intolerable, and he is promising to get to the bottom of how it happened.
| Read More » Sprint raises Clearwire offer, not enough for some  | By Sinead Carew (Reuters) - Sprint Nextel Corp raised its buyout offer for wireless service provider Clearwire Corp to $3.40 per share, though some investors and analysts said the new bid was still not enough to overcome staunch opposition. Clearwire shares almost immediately traded at the new offer price, having consistently traded well above the old $2.97-per-share bid. As recently as last week, analysts and investors said the deal was unlikely to be approved unless Sprint raised its bid substantially. Taran Asset Management principal Chris Gleason said that he would not vote for a $3. ...
| Read More » Senators agree to expansion of high-tech visas | WASHINGTON (AP) — Officials say leading senators trying to resolve a key issue on immigration legislation have agreed to a compromise covering expansion of a high-tech visa program.
| Read More » Former IRS chief: Can't say how targeting happened  | WASHINGTON (AP) — The former chief of the Internal Revenue Service is telling Congress he doesn't know why his agency targeted tea party and other conservative groups seeking tax exempt status.
| Read More » Two Denso Corp executives to plead guilty to price fixing: U.S.  | WASHINGTON (Reuters) - Two executives at auto parts maker Denso Corp have agreed to plead guilty to conspiring to fix prices and have agreed to cooperate with an ongoing criminal investigation, the U.S. Justice Department said on Tuesday. The executives, Yuji Suzuki and Hiroshi Watanabe, both Japanese nationals, agreed to serve time in U.S. prison and pay a criminal fine, the department said in a news release. Denso itself agreed to plead guilty in the conspiracy and pay a $78 million fine in January 2012. (Reporting by David Ingram; Editing by Gerald E. McCormick)
| Read More » Stock indexes flip between gains and losses NEW YORK (AP) — Stock indexes fluctuated in early trading Tuesday as investors tried to predict the Fed's next move. Read More » Exclusive: EU wants to exclude utilities from U.S. trade talks By Ethan Bilby BRUSSELS (Reuters) - The European Union wants to exclude much of the utility sector from a prospective EU-U.S. free trade agreement in order to protect government controlled infrastructure, the latest draft of the EU's mandate for the negotiations showed on Tuesday. Unlike in the United States, many national European electricity grids and power generators are state controlled, and governments fear that a deal supporting the free flow of U.S. companies and money into the sector would erode their influence over assets seen as vital to national infrastructure. ... Read More » Embraer books 'milestone' SkyWest deal worth up to $8.3 billion  | By Brad Haynes SAO PAULO (Reuters) - SkyWest Inc , the world's largest regional airline group, agreed to buy at least 40 new jets from Brazilian planemaker Embraer SA , in a deal that could climb to 200 aircraft and a total price tag of more than $8 billion. "This is truly a milestone order for Embraer," Paulo Cesar de Souza e Silva, the head of Embraer's commercial aviation unit, said in a Tuesday announcement calling the deal one of the biggest ever for both companies. ...
| Read More » Lew: IRS actions "unacceptable and inexcusable"  | WASHINGTON (AP) — Treasury Secretary Jacob Lew says the Internal Revenue Service's targeting of conservative political groups was "unacceptable and inexcusable" and he has directed the agency's acting director to hold people accountable.
| Read More » Apple's Cook faces Senate questions on taxes  | WASHINGTON (AP) — A Senate panel says Apple Inc. is avoiding billions of dollars in U.S. taxes by shifting profits to foreign affiliates and is prepared to question the company's chief executive Tuesday about the "loopholes."
| Read More » Officials: Senators reach deal on high-tech visas | WASHINGTON (AP) — Leading senators working to resolve a key issue on immigration legislation have agreed to a compromise covering expansion of a high-tech visa program, officials said Tuesday, resolving one of two major hurdles to committee passage of the landmark bill.
| Read More » JPMorgan's Dimon faces shareholder referendum  | TAMPA, Fla. (AP) — Jamie Dimon, chairman and CEO JPMorgan Chase, told shareholders Tuesday that last year's $6 billion trading loss had been expensive and "extremely embarrassing," but he also asked shareholders not to fixate on the issue.
| Read More » SAC's Martoma says U.S. impedes defense in fraud case  | (Reuters) - Former SAC Capital Advisors portfolio manager Mathew Martoma said the government is impeding his ability to defend against criminal insider trading charges by trying to link him to an alleged long-running conspiracy for which it has only "vague" details. In papers filed on Monday night in U.S. District Court in Manhattan, Martoma said he was seeking more information about federal prosecutors' case against him. The previous week, authorities issued subpoenas seeking testimony from others at SAC Capital, including its founder, billionaire Steven Cohen. ...
| Read More » JPMorgan's Dimon survives shareholder referendum | TAMPA, Fla. (AP) — Shareholders at JPMorgan Chase will let Jamie Dimon, the chairman and CEO, keep both his jobs.
| Read More » Exclusive: Glencore's top aluminum exec to leave, first exit since takeover-sources  | By Josephine Mason NEW YORK (Reuters) - Glencore Xstrata's head of aluminum, Gary Fegel, is set to leave the company, three sources said, the first high-profile departure since commodity trading giant Glencore closed its purchase of miner Xstrata this month. Fegel's departure from one of the most powerful jobs in the global aluminum market will come as a surprise to many since he was reconfirmed in the post just weeks ago, and aluminum is one of the few areas of Glencore's mining portfolio that has no overlap with Xstrata. ...
| Read More » Photos: Crick's Nobel Medal Sold for $2M The1962 Nobel Prize for Physiology or Medicine awarded to Dr. Francis Crick sold for $2.27 million, including a buyer's premium, on April 11, 2013 through Heritage Auctions. Jack Wang, the CEO of biomedical firm Biomobie in Shanghai, who flew into New York for the auction, was the highest bidder. Drs. James Watson and Maurice Wilkins were also awarded the Nobel Prize for the discovery of DNA. Read More » Poll: Teens migrating to Twitter WASHINGTON (AP) — A new poll finds that teens are sharing more about themselves on social media. They're also moving increasingly to Twitter to avoid their parents and the "oversharing" that they see on Facebook. Read More » Exclusive: Intel CEO shakes up units, creates "new devices" group - source  | By Noel Randewich SAN FRANCISCO (Reuters) - Intel Corp's new chief executive, Brian Krzanich, has reorganized key business groups and created a "new devices" unit, according to a source who has seen an internal email, shaking up the world's top chipmaker days after formally assuming control. The chipmaker's main product groups - including the PC client group, mobile communications and data center unit that previously reported to Intel Architecture group chief Dadi Perlmutter - now report directly to Krzanich, the source said, citing the email sent to employees. ...
| Read More » Senate debating federal dollars for crop insurance WASHINGTON (AP) — The farm bill the Senate is considering this week would cut some farm subsidies but also expand government-subsidized crop insurance, a safety net used by many farmers in case of bad weather or lost revenue. Read More » Germany's SAP to recruit tech staff with autism BERLIN (AP) — German software giant SAP AG says it plans to recruit hundreds of staff with autism to make full use of their talents to process information. Read More » Denso executives to plead guilty to price fixing in Toyota case WASHINGTON (Reuters) - Two executives at Japan's Denso Corp have agreed to plead guilty to conspiring to fix prices of electronic auto parts sold to Toyota and will cooperate with an ongoing criminal investigation, the U.S. Justice Department said on Tuesday. The settlement is the latest in a wide-ranging investigation into price fixing for a variety of car parts that has ensnared nine companies and elicited guilty pleas from 14 executives. The Denso executives, Yuji Suzuki and Hiroshi Watanabe, both Japanese nationals, will serve time in U.S. ... Read More » ESPN cutting workforce, 'smartly managing costs' NEW YORK (AP) — ESPN says that it is cutting its workforce. Read More » Microsoft reveals Xbox One, next-generation gaming | REDMOND, Wash. (AP) — Microsoft thinks it has the one.
| Read More » Microsoft reveals Xbox One entertainment console  | REDMOND, Wash. (AP) — Microsoft thinks it has the one.
| Read More » Exclusive: Chinese supplier, VL Automotive bid for Fisker - sources  | DETROIT (Reuters) - A boutique carmaker led by a former General Motors Co executive Bob Lutz and China's largest auto parts supplier submitted an offer to buy cash-strapped "green" car company Fisker Automotive, people familiar with the matter said. VL Automotive and China's Wanxiang Group made an offer this month to buy Fisker through a prepackaged bankruptcy deal, the sources said, speaking on the condition of anonymity because the discussions are private. Separately, investors in Europe and Hong Kong are working to raise money to buy Fisker debt owed to the U.S. ...
| Read More » Analysis: U.S. food labels seen heating up North America meat war  | By Rod Nickel and Theopolis Waters WINNIPEG, Manitoba/CHICAGO (Reuters) - The United States is poised to introduce stricter rules on the labeling of meat imports this week, a move that is likely to heat up a simmering trade dispute with Canada and Mexico. Under new regulations that Washington says are aimed at complying with a World Trade Organization order, all meat sold in the United States must have labels that state where an animal was born, fed and slaughtered. ...
| Read More » Microsoft touts Xbox One as all-in-1 entertainment | REDMOND, Wash. (AP) — Microsoft thinks it has the one.
| Read More » EU leaders look to end Apple-style tax avoidance schemes By Luke Baker and Mark John BRUSSELS/PARIS (Reuters) - Growing concern in European capitals about aggressive tax avoidance by high-profile corporations such as Amazon, Google and Apple looks set to steal the agenda of a European Union summit in Brussels on Wednesday. The summit was originally called to discuss energy policy and tax coordination, but press reports in Britain, France and the United States exposing how little tax major international companies have been paying by carefully structuring their European operations has forced the issue up the agenda. ... Read More » U.S. court studies wiretaps in ex-Goldman director's insider case By Nate Raymond NEW YORK (Reuters) - Lawyers for former Goldman Sachs Group Inc board member Rajat Gupta sought to reverse his insider-trading conviction on Tuesday, arguing that wiretap evidence used by the prosecution should not have been introduced at trial. Defense lawyer Seth Waxman told the 2nd U.S. Circuit Court of Appeals in New York that wiretaps played for the jury were inadmissible because they amounted to hearsay evidence. ... Read More » Exclusive: EU says Chinese FTA possible, but wants market opening  | By Ethan Bilby BRUSSELS (Reuters) - The European Union is willing to deepen trade ties with China but wants to see concessions from Beijing first, documents seen by Reuters on Tuesday showed. At the same time as EU regulators are ramping up trade pressure on Beijing by threatening duties on solar panels and telecoms equipment, Brussels is dangling the carrot of trade agreements before the Chinese. ...
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