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IBM Targets $40 Billion In Cloud, Related Revs In 2018

9:07 AM 02/26/15 (Reuters) – International Business Machines Corp , which ruled computing in the age of the mainframe, is targeting $40 billion in annual revenue from the cloud, big data, security and other growth areas by 2018. The aggressive target, set by IBM executives at the company’s annual investor meeting in New York on […]

U.S. Consumer Prices Fall; Core Capital Goods Orders Rise

8:50 AM 02/26/15 WASHINGTON (Reuters) – U.S. consumer prices in January posted their biggest drop since 2008 as gasoline prices continued to tumble, which could give a cautious Federal Reserve ammunition to keep interest rates low a bit longer. The Labor Department said its Consumer Price Index fell 0.7 percent last month, the largest decline […]

Tougher Internet Rules To Hit Cable, Telecoms Companies

1:23 AM 02/26/15 By Alina Selyukh WASHINGTON (Reuters) – U.S. regulators are poised to impose the toughest rules yet on Internet service providers, aiming to ensure fair treatment of all web traffic through their networks. The Federal Communications Commission is expected Thursday to approve Chairman Tom Wheeler’s proposed “net neutrality” rules, regulating broadband providers more […]

Target Beats Fourth-Quarter Sales Forecast, Sees First Quarter Growth

8:37 AM 02/25/15 (Reuters) – U.S. retailer Target Corp reported a stronger-than-expected jump in same-store sales and profits for the key fourth quarter, helped by its expanding online business, and forecast modest earnings growth in the current quarter. Target said comparable sales at stores open longer than a year rose 3.8 percent in the November-January […]

Exclusive: China Drops Leading Technology Brands For State Purchases

8:31 AM 02/25/15 By Paul Carsten BEIJING (Reuters) – China has dropped some of the world’s leading technology brands from its approved state purchase lists, while approving thousands more locally made products, in what some say is a response to revelations of widespread Western cybersurveillance. Others put the shift down to a protectionist impulse to […]

Macy’s Full-Year Profit, Sales Forecasts Miss Estimates

9:19 AM 02/24/15 (Reuters) – Department store chain Macy’s Inc reported a weaker-than-expected rise in sales in the holiday quarter and forecast full-year profit and revenue that missed analysts expectations as the company invests in new lower-priced and international stores. Macy’s, which caters mainly to higher-income customers and owns the high-end Bloomingdale’s chain, is looking […]

Comcast Revenue Rises As It Adds Video, Internet Customers

7:25 AM 02/24/15 By Lisa Richwine (Reuters) – Comcast Corp, the largest U.S. cable operator, posted fourth-quarter revenue that marginally beat estimates as the company added new video and high-speed internet customers. The owner of media and entertainment company NBCUniversal also increased its stock buyback program to $10 billion, of which it earmarked $4.25 billion […]

Home Depot Sets $18 Billion Buyback, Profit Beats Estimates

6:53 AM 02/24/15 (Reuters) – Home Depot Inc , the world’s No.1 home improvement chain, reported a better-than-expected rise in quarterly same-store sales said it would buy back $18 billion of its shares. Home Depot’s profit also beat market expectations as an improving job market encouraged Americans to spend more on renovations, helping to send […]

U.S. Existing Home Sales Hit Nine-Month Low, Supply Weak

10:06 AM 02/23/15 WASHINGTON (Reuters) – U.S. home resales fell sharply to their lowest level in nine months in January amid a shortage of properties on the market, a setback that could temper expectations for an acceleration in housing activity this year. The National Association of Realtors said on Monday existing home sales declined 4.9 […]

Valeant To Buy Salix In $10.1 Billion Deal

7:16 AM 02/23/15 By Herbert Lash NEW YORK (Reuters) – Canada’s Valeant Pharmaceuticals International Inc agreed to acquire gastrointestinal drugmaker Salix Pharmaceuticals Ltd in an all-cash deal valued at about $10.1 billion, the two companies said on Sunday. The deal for Salix, known for its irritable bowel syndrome drug Xifaxan, was approved by the boards […]

Apple To Spend $1.9 Billion On New European Data Centers

3:57 AM 02/23/15 (Reuters) – Apple Inc said it would spend 1.7 billion euros ($1.9 billion) to build two data centers in Europe that would be entirely powered by renewable energy and create hundreds of jobs. The company said the centers, in Ireland and Denmark, will power Apple’s online services, including the iTunes Store, App […]

Exclusive: Local Bankers Emerge As Fed Ally In Fight Against Audit Bill

1:12 AM 02/23/15 By Jonathan Spicer COLUMBUS, Ohio (Reuters) – Local bankers are joining the fight against a congressional proposal to audit the U.S. Federal Reserve’s policy decisions, with more expected to lobby against the bill if it gains traction in Washington. The audit the Fed bill, championed by Rand Paul of Kentucky, a Republican […]

U.S. Factory Activity Edges Up In February: Markit

10:17 AM 02/20/15 (Reuters) – The U.S. manufacturing sector expanded in February at its fastest rate since November, after notching its lowest reading in a year in the prior month, an industry report showed on Friday. Financial data firm Markit said its preliminary or “flash” U.S. Manufacturing Purchasing Managers Index rose to 54.3 in February, […]

Japan Display In Talks With Apple To Build Iphone Screen Plant: Source

8:19 AM 02/20/15 By Reiji Murai TOKYO (Reuters) – Japan Display Inc is considering building a plant to supply smartphone screens for Apple Inc and is negotiating with the U.S. company for investment in the project, a person familiar with the situation said on Friday. The Japanese screen maker aims to be the primary supplier […]

Swiss Prosecutor Raids HSBC Office, Opens Criminal Inquiry

10:06 AM 02/18/15 By Marina Depetris GENEVA (Reuters) – Geneva’s public prosecutor searched HSBC’s (HSBA.L) lakeside Swiss office on Wednesday after opening a criminal inquiry into allegations of aggravated money laundering, the second probe to hit the bank this week. Europe’s largest lender is in regulators’ sights after details about how its Swiss private bank […]

U.S. Producer Prices Post Record Drop On Tumbling Energy Costs

8:37 AM 02/18/15 WASHINGTON, (Reuters) – U.S. producer prices posted a record decline in January, weighed down by plunging energy costs, pointing to very benign inflation pressures in the near term. The Labor Department said on Wednesday its producer price index for final demand dropped 0.8 percent, the biggest drop since the revamped series started […]

Hilton Revenue Beats Estimate As Occupancy Increases

7:06 AM 02/18/15 (Reuters) – Hilton Worldwide Holdings Inc (HLT.N), owner of the Conrad and Waldorf Astoria hotel brands, reported a better-than-expected 7 percent rise in quarterly revenue, as increased business travel in United States drove up occupancy rates. The increase in travel due to the strengthening U.S. economy has resulted in tight supply of […]

Sony Sees 25-Fold Profit Jump By 2018; Could Exit Tvs, Phones

5:41 AM 02/18/15 By Ritsuko Ando TOKYO (Reuters) – Sony Corp (6758.T) aims to boost operating profit 25-fold within three years by growing its camera sensors and PlayStation units, its chief executive said, outlining a strategy that could see the company exit the cut-throat TV and smartphone sectors. CEO Kazuo Hirai said on Wednesday the […]

Burger King/Tim Hortons Parent Posts Quarterly Loss

7:50 AM 02/17/15 (Reuters) – Restaurant Brands International Inc (QSR.TO), formed out of Burger King’s takeover of Canadian coffee and doughnut chain Tim Hortons last year, reported a net loss in its first quarterly results after the merger. U.S. fast-food chain Burger King bought Tim Hortons for C$12.64 billion last August, creating the world’s third-largest […]

West Coast Ports Dispute Drags On; Labor Secretary To Intervene

6:37 PM 02/16/15 By Steve Gorman LOS ANGELES (Reuters) – A partial shutdown of 29 U.S. West Coast ports stretched into a third day on Monday ahead of the U.S. labor secretary’s scheduled arrival in San Francisco to try to broker a settlement ending months of disruptions on the cargo-clogged docks. President Barack Obama, under […]