Finance
ESPN cutting workforce, ‘smartly managing costs’
NEW YORK (AP) — ESPN says that it is cutting its workforce. The sports media giant said in a statement Tuesday: “We are implementing changes across the company to enhance our continued growth while smartly managing costs.” The company would not say how many jobs are being eliminated, but they include unfilled positions. ESPN has [...]
JPMorgan’s Dimon survives shareholder referendum
TAMPA, Fla. (AP) — Shareholders at JPMorgan Chase will let Jamie Dimon, the chairman and CEO, keep both his jobs. At the bank’s annual meeting, 32 percent of shareholders voted for a measure that would have required the bank to split the roles. Had the measure succeeded, Dimon would have had to relinquish the role [...]
Stock indexes flip between gains and losses
NEW YORK (AP) — Stock indexes fluctuated in early trading Tuesday as investors tried to predict the Fed’s next move. The Dow Jones industrial average rose five points at 15,340 shortly after 10:30 a.m. Eastern time. The Standard & Poor’s 500 index gave up a point to hit 1,666. The Nasdaq composite slid five points [...]
Sprint boosts buyout offer for Clearwire
OVERLAND PARK, Kan. (AP) — Sprint says it has raised its buyout offer for the stake in Clearwire it does not already own by 14 percent. Sprint Nextel Corp. said Tuesday that it is offering $3.40 per share for Clearwire Corp. Its previous offer, from December, was for $2.97 per share for the wireless data [...]
Microsoft expected to reveal next-generation Xbox
REMOND, Wash. (AP) — Will Xbox mark the spot once again for Microsoft? The company is set to reveal the next generation of its Xbox entertainment console during a presentation Tuesday at its headquarters in Redmond, Wash. It’s been eight years since the launch of the Xbox 360. The original Xbox debuted in 2001, and [...]
Sprint to listen to Dish offer
OVERLAND PARK, Kan. (AP) — Wireless company Sprint Nextel Corp. says it can now let Dish Network Corp. see its books and talk with Dish to see whether its competing offer to buy Sprint is better than its current deal with Japan’s SoftBank. The companies said late Thursday that SoftBank had waived provisions of its [...]
Oil price rises to near $97 per barrel
BANGKOK (AP) — The price of oil rose toward $97 per barrel Tuesday, but gains were checked as investors waited for the Federal Reserve’s latest views on the U.S. economy. Benchmark crude for June delivery was up 16 cents to $96.87 per barrel at midday Bangkok time in electronic trading on the New York Mercantile [...]
Average credit card debt, late payments fall in 1Q
LOS ANGELES (AP) — Americans got better about paying their credit card debt on time in the first three months of the year, a period when many borrowers use income tax returns to tackle their holiday season debt. The rate of credit card payments at least 90 days overdue fell to 0.69 percent in the [...]
Yahoo reboots Flickr, offers 1 terabyte of storage
NEW YORK (AP) — Fresh on the heels of its $1.1 billion acquisition of Tumblr, Yahoo says it is rebooting its languishing photo-sharing site Flickr with plans to make it “awesome” again. Yahoo Inc. said at an event in New York City’s Times Square on Monday that it is now offering users 1 terabyte of [...]
Panel: Apple uses firms outside US to avoid taxes
WASHINGTON (AP) — Apple Inc. employs a group of affiliate companies located outside the United States to avoid paying billions of dollars in U.S. income taxes, a Senate investigation has found. The world’s most valuable company is holding overseas some $102 billion of its $145 billion in cash, and an Irish subsidiary that earned $22 [...]
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