Hot finance and business news.
Western Digital Corp. is trying to pull further away in its neck-and-neck race with Seagate Technology PLC to be the world’s biggest maker of hard drives.
Western Digital announced Monday that it’s paying $4.3 billion in cash and stock to acquire Hitachi Global Storage Technologies.
The deal is one of the largest in an industry that’s been […]
Filed under: business, economics by Finance Boss
Comments Off
The Securities and Exchange Commission’s staff plans to recommend a “civil enforcement action” against LaBarge Inc., the company revealed today.
LaBarge, an electronics manufacturer based in St. Louis, said it received a “Wells notice,” from the SEC. A Wells notice informs a company that it is the target of an investigation, and gives the company a chance to respond.
In a […]
If you’re itching to get your hands on an income tax refund, you have an extra reason to celebrate Valentine’s Day this year.
You also have a reason to write a not-so-sweet note to your representatives in Congress. Because they waited until mid-December to pass major tax law changes, the Internal Revenue Service couldn’t begin accepting […]
Filed under: business, management by Finance Boss
Comments Off
Angela Merkel’s spokesman says the head of Germany’s central bank will meet with the chancellor amid speculation that he will not pursue the European Central Bank’s top job.
Steffen Seibert told reporters that Merkel and Axel Weber would meet later Friday behind closed doors in Berlin and then issue a written statement.
Weber, who has reportedly pulled […]
Filed under: business, technology by Finance Boss
Comments Off
Samsung Electronics said net profit rose 13 percent in the fourth quarter of 2010 amid higher sales of semiconductors and smartphones as the technology giant rounded out a record year for profits and revenue.
Samsung, the world’s largest manufacturer of computer memory chips and flat screen televisions, earned 3.42 trillion won ($3.1 billion) in the three […]
As concern about the economy eases, investors are increasingly optimistic about stocks and have pushed the market up more than 100 percent from early 2009 lows.
But the next few weeks could test whether continued optimism is warranted.
As companies report their profits for 2010 and chief executives provide outlooks for the months ahead, Standard & Poor’s […]
Filed under: business, technology by Finance Boss
Comments Off
U.S. retailers’ 2010 holiday sales jumped 5.5 percent for the best performance in five years as shoppers snapped up clothing and jewelry at Macy’s Inc., Tiffany & Co. and other stores.
Retail sales, excluding autos, rose to $584 billion from Nov. 5 through Dec. 24, said MasterCard Advisors’ SpendingPulse, which measures retail sales by all […]
Sales of previously owned homes edged up in November, the third increase in four months after a dismal summer for home-buying.
The National Association of Realtors says people bought previously owned homes at a seasonally adjusted annual rate of 4.68 million units last month, a gain of 5.6 percent from October.
The increases follow the worst summer […]
Filed under: Small Business, business by Finance Boss
Comments Off
After two Christmas seasons of pushing socks, pajamas and other basics as gifts, retailers are betting that Americans are ready to give a little more this year.
The flashy sweater is replacing the basic winter coat, jewelry is starting to sparkle again, and the gift card for gasoline is being trumped by the gift card at […]
Filed under: business, marketing by Finance Boss
Comments Off
General Motors is taking a big step toward repaying taxpayers for last year’s $50 billion bailout, announcing it will repurchase $2.1 billion in preferred stock held by the Treasury Department.
The automaker has already repaid about $6.7 billion in loans. The plan to repurchase the preferred stock will leave Treasury’s 61% stake in the company’s […]
Filed under: business by Finance Boss
Comments Off