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Cyber Monday sales top $3 billion as discounts spur buyers
Shopping through mobile devices soared on Cyber Monday, accounting for more than a quarter of the $3 billion in sales, but many online retailers struggled to get visitors using smartphones and tablets to shop as much as those using desktops. Bigger-than-expected discounts … See more here: Cyber Monday sales top $3 billion as discounts spur buyers Read More →
Facebook’s CEO and wife to give 99 percent of shares to couple’s foundation
By Yasmeen Abutaleb SAN FRANCISCO (Reuters) – Mark Zuckerberg will put 99 percent of his Facebook Inc shares, currently worth about $45 billion, into a new philanthropy project focusing on human potential and equality, he and his wife said Tuesday in a letter to their newborn daughter. The plan, which was posted on the… See more here: Facebook’s CEO and wife to give 99 percent... [Read more]
FTC preparing to block Staples-Office Depot deal: NY Post
(Reuters) – U.S. antitrust regulators are preparing to block Staples Inc's acquisition of smaller rival Office Depot Inc , the New York Post reported. The Federal Trade Commission (FTC) may again delay its decision on the deal, seeking more concessions from Staples, NY Post reported, citing two people familiar with the matter. Two of the four FTC commissioners looking into the deal are... [Read more]
HSBC says to shut down India private banking business
HSBC Holdings Plc is shutting its private banking unit in India, marking the exit of another foreign bank from the cut-throat wealth management business in Asia's third-largest economy. “After a strategic review of the global private banking operations in India Original post: HSBC says to shut down India private banking business Read More →
U.S. data points to moderate fourth-quarter growth
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer spending barely rose in October as households took advantage of rising incomes to boost savings to their highest level in nearly three years, pointing to moderate economic growth in the fourth quarter. Anemic consumer spending did little do change expectations that the Federal Reserve will raise interest rates next month as other data on... [Read more]
Pfizer to buy Allergan in $160 billion deal
By Ransdell Pierson and Bill Berkrot NEW YORK (Reuters) – Pfizer Inc on Monday said it would buy Botox maker Allergan Plc in a deal worth $160 billion to slash its U.S. tax bill, rekindling a fierce political debate over the financial maneuver. The acquisition, which would create the world's largest drugmaker and shift Pfizer's headquarters to Ireland, would also be the biggest-ever... [Read more]
Aetna, Anthem reassure investors on Obamacare business
Aetna and Anthem said their individual insurance businesses, which include the plans created by President Barack Obama's national healthcare reform law, had performed in line with projections through October. The announcements came the day after UnitedHealth cut its earnings forecast and said it might exit the Obamacare exchanges in 2017. View original post here: Aetna, Anthem reassure investors... [Read more]
Starboard asks Yahoo to sell core business instead of Alibaba stake
Activist investor Starboard Value LP asked Yahoo Inc to drop plans to spin off its stake in Alibaba Group Holdings Ltd due to tax concerns, and instead urged the company to sell its core search and display advertising businesses. Yahoo's current net cash holding and the funds raised from a sale of the business could be returned to shareholders through buybacks and… Read the original: Starboard... [Read more]
Dorsey’s Square jumps in market debut, offering hope to startups
Shares of Square Inc, the mobile payments company co-founded and still run by Twitter Inc Chief Executive Jack Dorsey, rose as much as 64 percent in their market debut, offering hope to tech startups hoping to go public. The steeply discounted price had raised questions about what it could mean for so-called “unicorns” – start-ups worth at least $1 billion – that may … Read... [Read more]
Monsanto could take lead role in agchem acquisitions: executives
Monsanto Co. executives are discussing whether they should acquire rivals, including top pesticide maker Syngenta AG, company executives said on Tuesday, as talk of consolidation continues in the global agrochemical industry. “We've had conversations inside” about Syngenta and other agricultural companies, Monsanto President Brett Begemann said at an investor meeting at its headquarters... [Read more]