RSSCategory: News

Lockheed, United Tech to close Sikorsky deal by Friday

Lockheed, United Tech to close Sikorsky deal by Friday

WASHINGTON: Lockheed Martin Corp said it expects to close its US$9 billion acquisition of Sikorsky Aircraft from United Technologies Corp on Friday, now that it has received final regulatory approval from China. “With this final regulatory approval, we are one step closer to completing this historic acquisition,” said Lockheed Chief Executive Marillyn Hewson. United Tech […]

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Money talks: The trust machine

Money talks: The trust machine

APOSTLES of blockchain, the technology behind Bitcoin, think of it as the internet of money with implications stretching far beyond the cryptocurrency <param…Continue reading

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Small-caps poised to take leadership from larger names

Small-caps poised to take leadership from larger names

NEW YORK: U.S. small-cap stocks, which have been lagging behind their large-cap brethren, may be poised to take the lead if the nation’s economy continues to show modest growth and the dollar maintains its ascent. The S&P 500 stock index has rallied nearly 13 percent from its Aug. 25 low, while the small-cap Russell 2000 […]

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Sprint quarterly results miss forecasts, shares fall 7 percent

Sprint quarterly results miss forecasts, shares fall 7 percent

REUTERS: Sprint Corp , the fourth largest U.S. wireless carrier, reported lower-than-expected quarterly results on Tuesday as promotional price cuts drove customer gains but weighed on growth. The company, in the middle of a turnaround plan, also said it now expects fiscal 2015 adjusted EBITDA at the lower end of its previous forecast of between […]

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Hyundai to push into premium auto market with standalone Genesis brand: sources

Hyundai to push into premium auto market with standalone Genesis brand: sources

BEIJING: South Korean automaker Hyundai Motor Co appears set to launch a standalone global premium product line-up, to be called Genesis, as it seeks to boost profitability which is being squeezed by a strong won currency. Hyundai is expected to announce the move as early as Wednesday, three people close to the company said. The […]

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S&P, Nasdaq flat; Dow edges up on energy stocks, Visa

S&P, Nasdaq flat; Dow edges up on energy stocks, Visa

REUTERS: A rally in energy stocks and a rebound in Visa helped the Dow inch higher on Tuesday, while the S&P 500 and Nasdaq were little changed, with gains offset by a decline in healthcare and consumer shares. Six of the 10 major S&P sectors were lower, with the consumer staples sector down 0.96 percent […]

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US auto industry headed for record sales in 2015: GM

US auto industry headed for record sales in 2015: GM

DETROIT: The U.S. auto industry is on track for a record year of annual sales, General Motors Co said on Tuesday, as the top U.S. automaker and its rivals reported October sales that far exceeded expectations. GM said the six-month rolling average for U.S. auto sales is 17.8 million vehicles on an annualized basis, which […]

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Hilton is the latest hotel suspected of blocking customers’ personal Wi-Fi

Hilton is the latest hotel suspected of blocking customers’ personal Wi-Fi

IT ALWAYS seemed improbable that Marriott was the only one. Last year the hotel chain paid $600,000 to America’s Federal Communications Commission (FCC) to settle a complaint that it had blocked customers’ personal wireless modems and hotspots at “at least one” of its hotels, forcing customers to sign up for expensive in-house internet access instead. […]

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Sprint shares drop as quarterly results miss forecasts

Sprint shares drop as quarterly results miss forecasts

REUTERS: Sprint Corp , the fourth largest U.S. wireless carrier, reported lower-than-expected quarterly results on Tuesday as promotional price cuts drove customer gains but weighed on growth. The company, in the middle of a turnaround plan, also said it now expects fiscal 2015 adjusted EBITDA at the lower end of its previous forecast of between […]

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Kellogg's sales fall as US consumers shun cereals and snacks

Kellogg's sales fall as US consumers shun cereals and snacks

REUTERS: Continued weak demand for cereals and snacks in the United States weighed on Kellogg Co , the maker of Corn Flakes and Cheez-It crackers, which reported a bigger-than-expected drop in quarterly net sales on Tuesday. Sales in the company’s U.S. snacks business – its biggest -fell 1.5 percent, while sales in its U.S. morning […]

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