Home » Archive for November, 2012

Image for Spending by Consumers Drop to Five Month Low

Spending by Consumers Drop to Five Month Low

Consumer spending in the U.S. fell during October for just the first time in the past five months. Growth in income stalled, which suggested that slower economic growth would take place during this year’s last quarter. On Friday,... More of this article »
Image for Investors Sue HP Board and Auditors for Autonomy Deal

Investors Sue HP Board and Auditors for Autonomy Deal

Hewlett-Packard’s directors and auditors as well as Autonomy Corp. founder Mike Lynch were sued by investors over fraud regarding last year’s acquisition of the software company. The lawsuit was filed November 27 in a federal court... More of this article »
Image for Costco announces Special Dividend Prior to Fiscal Cliff

Costco announces Special Dividend Prior to Fiscal Cliff

Warehouse merchant, Costco Wholesale has announced it will have a special dividend of $3 billion before the end of 2012, saving its shareholders from being bit should the increase in taxes take place due to the pending fiscal cliff. The... More of this article »
Image for Research In Motion Stock Surges

Research In Motion Stock Surges

Research In Motion the maker of the Blackberry 10 saw its shares surge even higher on Friday. The rally by RIM stock on Friday followed a bullish report from analysts. The price target for the stock was moved up along with the amount... More of this article »
Image for Gas Rationing to End Soon in New York

Gas Rationing to End Soon in New York

Mayor Michael R. Bloomberg said that the gas rationing system implemented in the city two weeks ago will come to an end on Saturday. He introduced the gas rationing for city drivers for the first time since the 1970s on November 9... More of this article »
Image for International Union Confronts Wal-Mart Suppliers as Employees Stage Walkouts

International Union Confronts Wal-Mart Suppliers as Employees Stage Walkouts

An international trade union asked Wal-Mart suppliers to raise concerns with the giant retailer about how it treats its US workforce. The company has been affected by several walkouts and protests by union-supported groups wanting... More of this article »
Image for Stock Price Surges for Groupon

Stock Price Surges for Groupon

Groupon Inc. stock shares increased earlier this week by over 10% after a 9.9% stake in the company was purchased by a hedge fund. Tiger Global Investments discloses it had purchased 65 million shares in their securities filing Monday.... More of this article »
Image for Earnings Miss Wall Street Estimates at John Deere

Earnings Miss Wall Street Estimates at John Deere

The largest maker of agricultural equipment, John Deere & Co. reported its fourth quarter earnings on Tuesday that missed estimates by analysts after the company saw sales outside Canada and the U.S. decline. Profit jumped to over... More of this article »
Image for Fraud Alleged by Hewlett-Packard in Autonomy Acquisition

Fraud Alleged by Hewlett-Packard in Autonomy Acquisition

On Tuesday morning, Hewlett-Packard asserted there were instances of financial fraud involved with its purchase of Autonomy, the software business, in 2011. HP paid over $10 billion for the business. At the same time, the company released... More of this article »
Image for Wall Street cuts into Apple Market Capitalization

Wall Street cuts into Apple Market Capitalization

Apple stock took another big hit on Wall Street last week. The hit took the tech giant’s market cap below the $500 billion mark for only the first time in close to six months. Even though Apple had strong financials for the third... More of this article »
Image for Walmart Hit by Walkouts and Protests

Walmart Hit by Walkouts and Protests

Employees at Walmart this week started to walk off the job in advance of next week’s Black Friday, when three groups backed by unions expect thousands to protest nationwide. During October, a strike took place in Los Angeles at a... More of this article »
Image for FedEx and UPS Investigated by Department of Justice

FedEx and UPS Investigated by Department of Justice

Fed Ex and UPS announced they both were targets of an investigation by the Department of Justice related to illegal online pharmacies. The pharmacies have become the target of a crackdown by federal investigators and international... More of this article »
Image for Walmart Earnings Increase, but Sales Fall Short

Walmart Earnings Increase, but Sales Fall Short

Walmart Stores Inc., the discount retailer, said on Thursday that its profits for the third quarter had increased by 9%, which beat estimates, but that its revenues had fallen short of Wall Street expectations, while sales for same-store... More of this article »
Image for Microsoft’s Sinofsky Steps Down

Microsoft’s Sinofsky Steps Down

Microsoft’s head of Windows, Steven Sinofsky resigned on Monday. Sinofsky was thought by many to be in line to take CEO Steven Ballmer’s place. However, he left Microsoft on Monday only three weeks after the software giant launched... More of this article »
Image for Japan’s Economy Shrinks

Japan’s Economy Shrinks

The Japanese economy contracted during the third quarter. The rate of contraction was at 3.5% at an annualized figure. That ended up sparking concerns that the shrinkage would cause a sustained slowdown across the region. The GDP figures... More of this article »
Image for China Exports Tops Estimates

China Exports Tops Estimates

China’s exports increased at the fastest pace in the last five months in October. This was an indication that the world’s second largest economy started to rebound as its industrial output and retail sales topped forecasts. Overseas... More of this article »
Image for Patents Settlement Reached by Apple and HTC

Patents Settlement Reached by Apple and HTC

Taiwanese mobile phone maker HTC has reached a settlement with Apple, the Cupertino, California based tech giant. The settlement resolves all the pending disputes that relate to patents and closed out a fight between the two companies... More of this article »
Image for Biggest Surplus in Trade for China in Four Years

Biggest Surplus in Trade for China in Four Years

In October, China saw its biggest trade surplus in close to four years. That gave the economic recovery in the country one of its biggest boosts of late, but could potentially add fire to the outside criticism of China’s for its... More of this article »
Image for Automaker Files for Chapter 11 Bankruptcy

Automaker Files for Chapter 11 Bankruptcy

Suzuki announced on Tuesday that it was no longer going to sell cars in the U.S. due to dwindling auto sales. Today it announced it would file for Chapter 11 bankruptcy protection. The Japanese automaker will no longer sell cars under... More of this article »
Image for Due to Falling Sales in China, Nissan Lowers Forecast

Due to Falling Sales in China, Nissan Lowers Forecast

The annual forecast for profit was cut by Nissan officials by 20%. Nissan said sales in China have been plummeting following the territorial dispute between the second largest economy in the world and Japan. The automaker, based in... More of this article »