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By Jussi Rosendahl and Leila Abboud HELSINKI/PARIS (Reuters) – Finland’s Nokia reported quarterly profits well below market forecasts at its telecom network equipment business, sending its stock tumbling 10 percent and raising concerns over its planned takeover of smaller rival Alcatel-Lucent . First-quarter revenue was ahead of expectations, but operating profit dropped 61 percent, which Nokia blamed largely on the need to cut prices to secure major mobile contracts in
By Irene Klotz CAPE CANAVERAL, Fla. (Reuters) – Blue Origin, a startup space company owned by Amazon.com chief Jeff Bezos, launched an experimental suborbital spaceship from Texas, the first in a series of test flights to develop commercial unmanned and passenger spaceflight services, the company said on Thursday. The New Shepard vehicle blasted off on Wednesday from Blue Origin’s test facility near Van Horn, Texas, and rose to an altitude
By Bill Rigby SAN FRANCISCO (Reuters) – Microsoft Corp is making it easier for apps written for rival Google Inc’s Android and Apple Inc’s iOS systems to work on Windows phones, in a bid to attract users to its unpopular mobile devices, the company’s operating systems chief said on Wednesday. The move marks a radical shift in strategy for the world’s biggest software company, which still dominates the personal computer
Nokia Chief Executive Rajeev Suri defended the terms of its pending acquisition of smaller telecom gear maker Alcatel-Lucent after a shareholder criticized them as unacceptable. Odey Asset Management, Alcatel-Lucent’s second-largest shareholder with 5 percent, said in a letter to investors that it would not tender its shares in the Nokia takeover because the 15.6 billion euro price in the all-share deal was too low, according to the Financial Times newspaper.
Yahoo Finance’s Midday Movers is live each weekday at 12pm ET, covering all the latest news on the markets, the economy and the biggest stories of the day.
The likely 2016 candidate argues her time at HP qualifies her to be president. Not so fast.
TD Ameritrade CEO Fred Tomczyk acknowledges the potential pitfalls of people being “pretty fully invested” and what that may portend for stocks.
General Motors plans to spend $5.4 billion to improve its U.S. factories during the next three years, creating about 650 new jobs. The company gave details of $783.5 million of the investments on Thursday …
Demand for mega-mansions and penthouses has accelerated as wealthy buyers seek havens for their cash and search for alternative investments such as art and collectible real estate, according to a report Thursday by Christie’s International Real Estate, owned by auction house Christie’s. Five homes sold for more than $100 million last year, with at least 20 more on the market with nine-figure asking prices, the brokerage said. “You’re looking at
The number of Americans filing new claims for jobless benefits tumbled to a 15-year low last week and consumer spending rose in March, signs the economy was regaining momentum after stumbling badly in the first quarter. Initial claims for state unemployment benefits fell 34,000 to a seasonally adjusted 262,000 for the week ended April 25, the lowest reading since April 2000, the Labor Department said. The four-week moving average of
