Items tagged with Business

Now that Steve Ballmer has announced his impending retirement, Microsoft is in search mode as it looks to hire a replacement Chief Executive Officer. It's the biggest decision facing Microsoft right now, followed by what comes next after hiring a new chief, a decision the incoming CEO will have significant input over. Given the magnitude of choosing a chief for one of the biggest tech companies in the world, you would expect some infighting among the board, but how much? According to a report in The Wall Street Journal, the search for a new CEO has caused a rift among Microsoft's board members.... Read more...
When you think Intel, you probably think "CPU." You might also think "USB." But in truth, Intel does a lot more than invest in interconnectors and microprocessors, and increasingly, it is having to look towards entirely new pathways to success. The chip market just isn't as huge as it once was. Dell knows first-hand how tough it is to survive in a "post-PC" world, where fewer and fewer individuals and companies alike are buying new desktops. So, Intel's been acquiring new and emerging technology firms in order to position itself as a technology pioneer, not just a chipmaker. The latest acquisition... Read more...
It would probably take most of us a few lifetimes to earn a billion dollars, but it evidently only takes a few days to officially spend it. The extravagant purchase of Tumblr by Yahoo has officially closed this week, making the site formally a Yahoo property. CEO Marissa Mayer is once again assuring users that Tumblr will continue to function as a separate business, led by CEO David Karp. According to Mayer, "Their product roadmap, their team, and tone will all remain the same as will their mission to empower creators and curators alike to do what they love best: create." It's still tough to see... Read more...
What do you do as a major, billion dollar corporation when your chief financial officer steps away? You find another one, preferably one you're familiar with. That's what Microsoft has done, after announcing during its Q3 2013 earnings report that existing CFO Peter Klein would be stepping away after June. So, Microsoft is filling his shoes by bringing in an existing vice president, Amy Hood. She's been at Microsoft since 2002, but will take on the role of CFO immediately. Hood, 41, joined Microsoft in December 2002 and currently serves as CFO of MBD, overseeing all financial strategy, management... Read more...
As carrier networks gravitate more and more towards data (and less towards pure voice services), Sprint has announced a bolstering that'll position it to serve its future customers -- folks who will no doubt be clamoring for plenty of IP-based information. The operator this week launched Sprint Data Link and Static IP networking services over the Sprint 4G LTE network. Both products are compatible with 3G as well as 4G, and include upgrades that make it easier for businesses and government agencies to deploy, manage and extend an enterprise network to modems, tablets and handsets. Sprint Data Link... Read more...
Apple has terminated its contract with a third-party labor supplier in China after an audit discovered it had "intentionally" hired dozens of underage workers. The audit uncovered 74 cases of underage labor at the one facility, and 106 active cases overall, the remaining ones resulting from an inability to detect forged documents. "11 facilities were found with underage labor, with a total of 106 active cases and 70 historical cases," Apple stated in its Supplier Responsibility Report. "In all but one case, the facilities had insufficient controls to verify age or to detect false documentation,... Read more...
Stop us if you've heard this one before: AT&T is looking to merge with a telecom...what's that, you have heard this one? Well this time it's different. AT&T isn't looking to make another run at T-Mobile, the U.S. subsidiary of Deutsche Telekom, and presumably the wireless carrier learned its lesson about offering massive breakup fees as insurance against regulatory vetoes. Nevertheless, AT&T is still in the market for a merger. Specifically, AT&T is shopping telecoms in Europe to offset slow growth here in the States, The Wall Street Journal reports. A deal could be made by the... Read more...
We hate to break it to investors who dumped barrels of cash into Apple over the last several months, but the bitter truth is it was a bad investment. Maybe in the long term they'll all look like savvy investors and the past three months will become a distant memory. Or maybe Apple was never worth as much as its share price suggested. To put things into perspective, Business Insider crunched some numbers and found that more money has been lost in Apple over the last three months than in Hewlett-Packard (HP) and Research In Motion (RIM) combined. How so? Follow BI's lead on this one. At its peak... Read more...
Intel Chief Paul Otellini recently announced that he plans to retire from chipzilla in May 2013, which leaves the world's largest semiconductor player plenty of time for find a replacement. Who will it be? That's the big question that nobody knows the answer to, though Otellini did indicate that it's likely to be someone who already works for Intel. "It's not up to me but I think that's the most likely outcome. I'm very comfortable with the internal candidates and the track record of internal versus external in our industry shows pretty clearly you want to stay inside if you can," Otellini said... Read more...
Finicky investors weren't as high on Apple yesterday as they have been in the past. Apple's share price dropped 6.4 percent on Wednesday, representing the company's biggest single-day drop in four years and shaving $35 billion from its market cap. What gives? That's a good question, and there are no concrete answer to be found, only theories. One of them comes from Mercury News, which believes it has to do with dividends. In order to avoid possible tax hikes on cash as a result of the so-called "fiscal cliff" that's around the bend, companies have already started dishing out dividends for next... Read more...
Although HP's attempt at competing in the consumer tablet market with the HP TouchPad may have been short-lived, the company has continued to compete in the business segment of the market with products such as the ElitePad. In yet another effort to attract the business crowd, HP recently announced the new HP EliteBook Revolve. The EliteBook Revolve is part of the company's ninth generation line of convertible tablets. What sets this convertible apart from previous generation models is the fact that it's running the touch-friendly Windows 8 OS. The EliteBook Revolve comes with third-generation Intel... Read more...
Hewlett-Packard today announced financial results for its fourth fiscal quarter and full fiscal year ended October 31, 2012, noting an $8.8 billion asset impairment charge related to the acquisition of software firm Autonomy. That's a pretty big write-off, and HP is essentially claiming fraud on the part of Autonomy. "The majority of this impairment charge is linked to serious accounting improprieties, disclosure failures and outright misrepresentations at Autonomy Corporation plc that occurred prior to HP's acquisition of Autonomy and the associated impact of those improprieties, failures and... Read more...
Intel President and Chief Executive Officer (CEO), Paul Otellini, is calling it quits, though he isn't stepping down from the world's largest chip maker immediately. Instead, he'll work through the holiday season and into the second quarter of 2013 before retiring in May, Intel announced today. "Paul Otellini has been a very strong leader, only the fifth CEO in the company’s great 45-year history, and one who has managed the company through challenging times and market transitions," said Andy Bryant, chairman of the board. "The board is grateful for his innumerable contributions to the company... Read more...
When you're hot, you're hot, and when you're cold, well, things are still pretty good if you're Apple. Ahead of the iPhone 5 launch, the Cupertino company saw its share price hit an all-time high a couple months ago, reaching more than $705. Since then, Apple's share price has been steadily declining. Now that the dust has settled from the iPhone 5 launch and iPad mini hype, Apple's share price has started to come down, closing at $526.59 entering the weekend, the lowest it's been in the past six months. In pre-market trading ahead of Monday morning's bell, Apple's share price is up slightly to... Read more...
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