“I see this as the most damaging event for our brand in the company’s 140-year history,” Tanaka told a news conference after making a ritual deep bow of contrition to a flurry of camera shutters and flashes. Muromachi is considered a safe pair of hands to lead Toshiba through its current turmoil before handing the reins to a successor. A total of eight officials resigned on Tuesday and Tanaka said
Customer defections, also known as churn in the telecommunications industry, for Verizon’s wireless postpaid business dipped to 0.90 percent versus the 0.99 percent estimated by FactSet. Revenue from Verizon’s FiOS high-speed Internet, TV and phone service rose 10 percent to $3.4 billion, while tablet sign-ups totaled 852,000 in the quarter. Verizon is gearing up to launch its online video service to unlock new revenue streams as competition in the wireless
United Technologies Corp , which agreed on Monday to sell its Sikorsky helicopter business, cut its full-year profit outlook on Tuesday as it warned of pressures in its aerospace systems and Otis elevators businesses. United Tech, whose shares fell 4.1 percent after the company also reported second-quarter results, on Monday said it would sell its Sikorsky helicopter unit to Lockheed Martin Inc for $9 billion, after saying in June it
By Harro Ten Wolde and Ilona Wissenbach FRANKFURT/STUTTGART (Reuters) – SAP’s order pipeline for the second half of the year is “very healthy” and will offset a decline in sales from its packaged software products, which will pose no threat to the company’s full-year operating profit target, its finance chief said. Europe’s largest software company on Tuesday posted worse-than-expected sales of its high-margin packaged software business.
U.S. stocks traded mostly lower as investors weighed some lackluster earnings reports in Dow components.
Gary Ross, the founder of consultants PIRA Energy Group, said oil markets aren’t nearly as oversupplied as many believe and spare capacity is tight since Saudi Arabia is pumping all the crude it can without new drilling. Such views fail to take into account the impact of $50 oil on output outside North America as producers reduce spending, according to Ross.
Apple and Amazon report earnings this week. Estimize’s Kieren Dwyer explains what investors are looking for when they report.
Tesla’s shares fell over 4 percent in premarket trading after UBS analyst Colin Langan cut his rating to “sell” from “neutral”, saying he expects the company’s car sales and home battery sales growth to disappoint. Tesla unveiled Tesla Energy, batteries for use in homes and offices, on May 1 and is estimated to have got more than $800 million worth of orders in the first five days. “However, this pace
Gold was on the brink of five-year lows on Tuesday, with more losses expected in the coming months following Monday’s “bear raid” when sellers dumped an estimated 33 tonnes in just two minutes. Within a further minute, the deals had been completed, sending the most-active U.S. gold futures contract down $48 to as low as $1,080.00 per ounce, its weakest since February 2010. Spot gold stood at $1,104.50 per ounce
WASHINGTON (Reuters) – The U.S. Consumer Financial Protection Bureau ordered Citigroup Inc’s (C.N) consumer bank to pay $700 million in relief to borrowers for what the agency said on Tuesday were illegal …
