Toshiba Corp is expected to report a net loss for the last fiscal year and also revise down its fiscal 2011/12 earnings to a loss following an investigation into its accounting practices, the Nikkei business daily reported. The loss for the fiscal year to March 2015 will come as Toshiba takes 100 billion yen ($804 million) in impairment charges to reflect weakness in its Westinghouse nuclear business as well as
(Reuters) – Tech licensing company Rambus Inc said it would start selling chips under its own brand, a move aimed at reducing its dependence on income from litigation to defend its patents. Rambus said the memory chips are designed to improve the performance of server systems used by businesses and data centers and that it was currently shipping samples of the chips, called RB26, to potential customers. Instead of manufacturing
America Movil said on Sunday it removed roaming charges on calls to and data in the United States for 40 million Mexican prepay clients as it gears up to prevent new rival AT&T Inc. stealing market share on its home turf. The company, owned by the family of billionaire Carlos Slim, said calls made to the United States by prepaid customers on “Amigo Optimo” and “Optimo Plus” plans would now
An expected drop in crude prices to $30 to $40 a barrel might not be enough to balance global oil markets, IHS Energy’s Jamie Webster says.
Jeff Bezos writes to staff defending Amazon’s human resources policy following a New York Times story claiming back-stabbing practices.
Two units of Citigroup will pay nearly $180 million to settle financial crisis-era charges alleging they defrauded investors in two hedge funds by telling them the funds were safe, low-risk investments, U.S. regulators said Monday. The Securities and Exchange Commission said that Citigroup Global Markets Inc and Citigroup Alternative Investments LLC are settling without admitting or denying the charges, and that the funds will bear all of the costs for
U.S. homebuilders grew slightly more optimistic about the housing market in August, putting their confidence at levels last seen a decade ago during the debt-fueled housing boom. The National Association …
In a note this morning, Jonas has increased the price target for Tesla to $465 from $280 (the stock is currently at about $243). The key reason behind this is what he calls “Tesla Mobility, an app-based, on-demand mobility service.” The race for autonomous driving is nothing new, with tech giants such as Apple and Google also making a push in this realm, but the report says Tesla is well positioned to get
Short of cash and unsettled in their careers, young Americans are waiting longer than ever to buy their first homes. The typical first-timer now rents for six years before buying a home, up from 2.6 years …
Manufacturing activity in New York state contracted in August at the fastest pace since the Great Recession, pulled down by sharp declines in new orders and shipments. The Federal Reserve Bank of New York …
