Coverage: Facebook posts huge earnings, boosted by mobile ads
For the first time ever, Facebook posted $1 billion in quarterly profit Wednesday, proving the site is no longer just a social experiment. The brainchild of Mark Zuckerberg beat Wall Street’s expectations with across-the-board increases, including year-over-year jumps in both mobile advertisement and monthly active active-users. Jay Somaney of Forbes had details on the earnings beat: […]
Coverage: Apple earnings show slowing iPhone sales
Apple released its latest earnings Tuesday, and while the Cupertino, Calif.-based company once again put up an impressive quarter, there was one red flag that got people talking. Sales of the company’s hugely popular iPhone grew just 1 percent year-over-year, marking the devices slowest growth ever and setting tongues wagging about the future of the iPhone. […]
Coverage: AIG restructures after pressure mounts
After three months of public criticism from activist investor Carl Icahn, the American International Group announced a spinoff of its mortgage insurance unit along with other sweeping changes to fend of his attacks momentarily. Reuters had the day’s news: American International Group said it would spin off its mortgage insurance unit and sell its broker-dealer […]
Coverage: Johnson Controls, Tyco to merge
Johnson Controls confirmed its merger with Tyco International in a $3.9 billion deal that will see the Milwaukee-based company move its headquarters to Ireland. Phil Serafino of Bloomberg had the day’s news: Johnson Controls Inc. agreed to merge with Tyco International Plc, combining the companies’ building-control businesses. The deal would move Johnson Controls to Ireland, […]
Coverage: JPMorgan CEO gets raise despite cutbacks
JPMorgan Chase & Co. CEO James Dimon saw a 35 percent hike in compensation for 2015, despite industrywide cutbacks. Dimon will receive $27 million in total compensation for the year, the company disclosed in a securities filing. Emily Glazer of The Wall Street Journal had the day’s news: J.P. Morgan Chase & Co. Chief Executive James Dimon will […]
Coverage: Pearson cuts 10 percent of workforce
Pearson, ex-owner of Financial Times, plans to cut 4,000 in an attempt to salvage its earnings after falling textbook sales and shrinking college enrollments have weakened the company’s profitability. The cut in jobs is equivalent to 10 percent of the publisher’s workforce. Nicola Clark of The New York Times had the day’s news: Pearson, the […]
Coverage: Davos 2015 CEOs’ confidence weakens over global economy
The World Economic Forum in Davos began Tuesday, but according to a new survey, many of the CEOs who will fill the conference’s seats are not optimistic about the health of the global economy. Of the nearly 1,400 survey chief executives only 27 percent thought the global economy’s growth would continue, according to a report done […]
Coverage: Twitter goes dark after technical default
Tuesday is off to rough start for Twitter, after the social media site experienced technical difficulties that led to outages for many of 300 million users. Meanwhile, journalists everywhere are still breathing into paper bags to cope with the morning’s loss. Robert Mclean of CNN Money had the day’s news: Twitter said in a statement […]
Coverage: Netflix content chief hits back at critics
Netflix’s chief content officer Ted Sarandos responded to the streaming site’s critics about its refusal to disclose ratings, calling reports “remarkably inaccurate.” Sarandos also spoke about how the company is working on producing more family appropriate content in order to draw in viewers. John Koblin of The New York Times had the day’s news: Tensions between […]
Coverage: General Electric sells appliance division to Haier
General Electric agreed to sell its appliance division to Chinese manufacturer Haier for $5.4 billion. The deal comes just a year after GE’s deal to sell its appliance division to Swedish manufacturer Electrolux collapsed. Laurie Burkitt, Joann S. Lublin and Dana Mattioli of The Wall Street Journal had the day’s news: General Electric Co. agreed to […]
