Twitter Inc named Jack Dorsey as its permanent chief executive on Monday, potentially creating a conflict of interests for its co-founder as he juggles the role with running fast-growing mobile payments company Square. Dorsey’s appointment ends months of speculation about who will take the reins at Twitter. Twitter will recruit its next chairman from outside the company.
(Reuters) – Shares of Alphabet Inc, the new umbrella company for Google Inc, rose slightly in their first few minutes of trading on Monday. Alphabet’s Class A shares were up 0.1 percent at $657.74, while the Class C shares were up 0.27 percent at $628.79 after about five minutes of trading. Alphabet is identical to Google from a stock market perspective.
By Lawrence Hurley WASHINGTON (Reuters) – The U.S. Supreme Court on Monday rejected an appeal by Vringo Inc subsidiary I/P Engine, which was seeking to restore a $30 million patent infringement verdict it won against several companies including Google Inc. The high court rejected I/P Engine’s appeal, meaning a August 2014 ruling against the company by the U.S. Court of Appeals for the Federal Circuit was left intact. A jury in
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, has been granted a license to operate as a chartered limited liability trust company by the New York State Department of Financial Services, the state regulator announced on Monday. Under the charter, Gemini will operate a bitcoin exchange and will officially open for trading on Thursday at 9:30 a.m. (1330 GMT)) serving both
European banks and insurers could face new rules to control their use of “big data” to target customers with products after EU watchdogs said they would investigate the area. The global financial services industry is expected to spend billions of dollars in coming years to improve their analysis capabilities. The three EU financial regulators – the European Banking Authority, European Securities and Markets Authority, and European Insurance and Occupational Pensions
Join Midday Movers now for the latest news on the markets, the economy and the biggest stories of the day.
Cash-out home refinances jumped 68 percent in the second quarter of this year compared to a year ago. Should we be worried?
The former Federal Reserve chief also said there’s been too much reliance on the Fed, and other policymakers in the government need to step up.
American Apparel, one of the only clothing retailers still manufacturing in the United States, said its stores and manufacturing operations would continue to operate normally under a restructuring deal reached with most secured lenders. The big loser will be founder Dov Charney, who was fired as CEO in December for alleged misconduct, including misusing company funds and failing to stop a subordinate from creating blog posts that defamed former employees.
Newell Rubbermaid is buying Elmer’s for about $600 million as it attempts to boost its back-to school sales. Elmer’s Products Inc. owns Elmer’s Krazy Glue and X-Acto. Newell, which in addition to containers, …
