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
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’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 …
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. …
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
Federal Reserve Bank of Atlanta President Dennis Lockhart said an improving U.S. job market warrants an interest-rate increase this year, reinforcing the message from other officials in recent days that …
The British government said on Monday it would sell the remainder of its stake in Royal Mail (RMG.L), bringing to an end its ownership of a postal service that it started privatising in controversial fashion in 2013. The government said it planned to sell its remaining 14 percent stake in Royal Mail via an accelerated book build, which will open with immediate effect.
Facebook wants to help you make your next impulse buy. The company is diving full-force into…
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A survey of business economists finds that a majority still expect the Federal Reserve to raise interest rates before the end of the year.