Live: Twitter lays off 8% of workforce; JPMorgan says no to free phones
Join Midday Movers live for the latest news on the markets, the economy and the biggest stories of the day.
Blog
Want a discount on a house? Drive way out of town
As millennials and baby boomers flock to urban cores, embracing shared cars and bicycles, the discount for living farther away is growing.
GE to sell $30 billion specialty finance business to Wells Fargo
The U.S. conglomerate has now inked $126 billion in transactions — more than half of its overall target — since announcing in April it would seek to reduce its GE Capital financing business to less than 10 percent of earnings as it focuses more on industrial manufacturing. GE Capital accounted for 42 percent of the company’s profit in 2014. Only one remaining significant GE Capital business in the United States
Goldman: This is the third wave of the financial crisis
Emerging markets aren’t just suffering through another market rout—it’s a third wave of the financial crisis, Goldman said.
Pepsi, Coca-Cola competing for investment in Chobani – sources
PepsiCo Inc and Coca-Cola Co are in talks to invest in Chobani LLC, in a deal that the Greek yogurt maker hopes could value it at as much $3 billion, including debt, according to people familiar with the matter. Chobani is exploring selling a minority stake, including warrants owned by private equity firm TPG Capital LP that account for between 10 percent and 20 percent of the yogurt maker’s equity
EMC to pay up to $2.5 billion to Dell if it opts for rival bid
EMC said Dell had secured financing of up to $49.5 billion from banks to fund the roughly $67 billion deal announced on Monday. While IBM Corp (IBM.N), Cisco Systems Inc (CSCO.O), Oracle Corp (ORCL.N) and Hewlett-Packard Co (HPQ.N) could be potential suitors for EMC, the chances of them challenging Dell with a rival offer are slim, people familiar with the matter told Reuters on Monday. Dell’s offer is structured in
Twitter announces layoffs as CEO Dorsey looks to revive growth
The layoffs, primarily in the company’s product and engineering functions, come a week after Dorsey took over as permanent CEO. Shares of Twitter, which had about 4,100 employees globally as of June 30, rose as much as 6 percent in morning trading on Tuesday. “We feel strongly that engineering will move much faster with a smaller and nimbler team, while remaining the biggest percentage of our workforce,” Dorsey said in
China September imports plunge in new sign of weakness
China’s imports fell by an unexpectedly wide margin in September in a new sign of weakness in the world’s second-largest economy. Imports plunged 20.4 percent from a year earlier to $145.2 billion, customs …
Johnson & Johnson to buy back shares up to $10 bln
Drugmaker Johnson & Johnson said it would buy back up to $10 billion of common stock over time. The company said on Tuesday it had about 2.77 billion shares of common stock outstanding as of Sept. 27. …
AB InBev wins over SABMiller at fifth attempt
BRUSSELS/LONDON (Reuters) – The world’s two biggest brewers agreed on Tuesday to create a company making almost a third of the world’s beer after SABMiller (SAB.L) received an improved offer worth more than $100 billion from larger rival Anheuser-Busch InBev (ABI.BR). The new group would bring together AB InBev’s Budweiser, Stella Artois and Corona brands with SABMiller’s Peroni, Grolsch and Pilsner Urquell. For AB InBev it would also add more