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Oracle ordered to pay HP $3 billion in Itanium case
A California jury ordered Oracle Corp to pay Hewlett-Packard Enterprise Co $3 billion in damages in a case over HP's Itanium servers, an Oracle spokeswoman said on Thursday. The Itaniuum processor is made by Intel Inc . In the first phase of trial in 2012, Santa Clara Superior Court Judge James Kleinberg ruled that there had been a contract. More: Oracle ordered to pay HP $3 billion in Itanium... [Read more]
Crystal Pepsi: the ‘clear’ 90s hit makes a return
The company is officially bringing back Crystal Pepsi, a clear cola drink that was hugely popular for a brief period during the early 1990s. PepsiCo Inc said on Wednesday said it would sell Crystal Pepsi this year for a Excerpt from: Crystal Pepsi: the ‘clear’ 90s hit makes a return Read More →
Deutsche, Santander fail U.S. stress test; Morgan Stanley gets second chance
By David Henry and Patrick Rucker NEW YORK/WASHINGTON (Reuters) – U.S. bank subsidiaries of Deutsche Bank AG and Banco Santander SA yet again failed the Federal Reserve's stress test on Wednesday due to “broad and substantial Go here to read the rest: Deutsche, Santander fail U.S. stress test; Morgan Stanley gets second chance Read More →
Uber, Lyft settle litigation involving top executives
By Dan Levine SAN FRANCISCO (Reuters) – Rival ride services Uber and Lyft have settled high stakes litigation involving two of their top executives, court filings show, in advance of a trial that could have aired sensitive details about both companies. Lyft and its former chief operating officer Travis VanderZanden ended litigation in a California state court in which Lyft accused VanderZanden... [Read more]
Top U.S. regulators say financial system functioning in ‘orderly manner’
U.S. financial regulators on Friday said the country's financial system is functioning in an “orderly manner” after Britain voted to leave the European Union and sent markets around the globe reeling. The Financial Stability Oversight Council – which includes the heads of the U.S. Treasury, Securities and Exchange Commission and Federal Reserve – “noted that the... [Read more]
Ratings agency Moody’s says Britain at risk of credit downgrade
By David Milliken LONDON (Reuters) – Ratings agency Moody's said Britain's creditworthiness was now at greater risk after voting to leave the European Union, as the country would face substantial challenges to successfully negotiate its exit from the bloc. Moody's assigned a negative outlook to its 'Aa1' rating for British government debt after a Thursday referendum... [Read more]
Sterling pares losses after hitting 31-year low on Brexit
By Sam Forgione NEW YORK (Reuters) – Sterling edged off lows against the U.S. dollar on Friday, recovering slightly from a 10 percent plunge to its weakest in 31 years following Britain's vote to leave the European Union, on reassuring Original post: Sterling pares losses after hitting 31-year low on Brexit Read More →
Behind Tesla carnage, signs of support for Musk’s SolarCity deal
“It’s a natural evolution of their mission to transform transportation into a sustainable business,” said Joe Dennison, a portfolio manager of Zevenbergen Capital Investments, which has about 600,000 Tesla shares, or about 0.4 percent of shares outstanding. Here is the original post: Behind Tesla carnage, signs of support for Musk’s SolarCity deal Read More →
U.S. jobless claims near 43-year low; new home sales decline
The number of Americans filing for unemployment benefits fell last week to near a 43-year low, suggesting labor market resilience even though hiring slowed sharply in May. The drop in jobless claims could give Federal Reserve officials more confidence that job growth will pick up. “Overall labor market conditions are not as bad as one might assume based on May's non-farm payroll print alone,”... [Read more]
Allegiant Travel strikes tentative deal with Allegiant Air pilots
The deal comes after years of unsuccessful contract talks and allegations made by the pilots union that Allegiant failed to abide by a July 2014 federal court injunction that directed the low-cost carrier to restore the pilots' benefits and work rule protections to levels negotiated previously. The tentative agreement must be voted on and ratified by Allegiant Air pilots, who were represented... [Read more]