Rackspace Hosting Inc , a web hosting company, forecast revenue for the current quarter below market estimates and said a strong dollar hurt its revenue growth in the first quarter. Shares of the company, which faces tough competition from Amazon.com Inc , Google Inc and Microsoft Corp were down 13 percent in extended trading on Monday. Revenue from a contract with a “large” financial services company will be realized only
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Perhaps it was inevitable that Verizon would buy AOL, and not just because the telco company is looking to push into content, mobile and video, and AOL—a frequently mentioned takeover target—offers just that.
Americans are becoming more apt to quit their jobs, a government report showed on Tuesday, a sign that a stronger labor market and falling unemployment rate could result in healthier wage growth and inflation. Both wages and inflation tend to follow a rise in the quit rate by a couple of quarters, research from the Chicago Federal Reserve Bank shows. “Once the quit rate gets back to its pre-recession level,
Royal Ahold NV and Delhaize Group said they’re in merger talks to potentially create the fifth-biggest U.S. supermarket retailer amid increased competition from Wal-Mart Stores Inc. The discussions are “preliminary” and may not result in a transaction, the European owners of the Stop & Shop and Food Lion chains said in separate statements Tuesday. Combining Zaandam, Netherlands-based Ahold and Brussels-based Delhaize would create a business with sales exceeding 54 billion
Young people aspiring to buy their first home are already facing disappointment this year. Rising prices are putting more homes out of reach, and pickings are slim because few properties have come onto …
A sharp selloff in euro zone sovereign bonds over the past two weeks is proving a shot in the arm for the European Central Bank’s asset purchase plan, allaying concerns the bank may struggle to find enough bonds to buy. As bond prices fall, yields rise, and the proportion of all euro-denominated government bonds with bid yields below zero dropped to 25.2 percent on May 8 from 35.9 percent on
Brent crude futures rose towards $66 on Tuesday, lifted by a weaker dollar and the Yemen conflict, but concerns of oversupply weighed on prices amid news of record high output from Saudi Arabia in April and Iraqi plans for record exports in June. June West Texas Intermediate (WTI) rose 58 cents to $59.83 a barrel, after touching $60.55 a barrel earlier in the day. Top global oil exporter Saudi Arabia
AOL decided to sell to Verizon in order to compete in a future marketplace dominated by larger players, CEO Tim Armstrong tells CNBC.
A rally in the price of oil over the last couple of months has derailed a rebalancing of the commodity’s price, Goldman Sachs warned.