22 July, 2015 by The TZ Newswire Staff Comments Off on Greek PM keeps lid on party rebellion to pass bailout vote
Greek PM keeps lid on party rebellion to pass bailout vote
Greek Prime Minister Alexis Tsipras contained a rebellion in his left-wing Syriza party to win parliamentary approval on Thursday for a second package of reforms required to start talks on a financial rescue deal. A first set of reforms that focused largely on tax hikes and budget discipline triggered a rebellion in Syriza last week and passed only thanks to votes from pro-EU opposition parties.
22 July, 2015 by The TZ Newswire Staff Comments Off on Asia shares slip on lackluster data, dollar strong
Asia shares slip on lackluster data, dollar strong
South Korea’s economy recorded its weakest expansion in six years in the second quarter, battered by a deadly virus outbreak and poor exports, while Japan reported strengthening export growth in June but concern remained about how shipments to China might be affected by its slowing economy. The MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent but still holding well above a near 1-1/2 year low hit on July 8.
22 July, 2015 by The TZ Newswire Staff Comments Off on Qualcomm slashes jobs and costs, says may split itself up
Qualcomm slashes jobs and costs, says may split itself up
Qualcomm shares fell 1.8 percent to $63.05 in after-market trading on Wednesday. The move comes after hedge fund Jana Partners called for Qualcomm to spin off its chip business from its highly profitable patent-licensing income, among other changes the activist asked for. “We decided we were going to take a fresh look at the corporate structure of the company,” Qualcomm president Derek Aberle said in an interview, adding that the chipmaker has reviewed its options twice already in the past decade.
22 July, 2015 by The TZ Newswire Staff Comments Off on Anthem set to announce deal for Cigna this week: sources
Anthem set to announce deal for Cigna this week: sources
The deal would follow Aetna Inc’s $37 billion agreement earlier this month to acquire Humana Inc, potentially reducing the number of major U.S. insurance companies from five to three and attracting antitrust scrutiny. Most issues that were preventing Anthem and Cigna from reaching a deal, such as price and the role of Cigna Chief Executive David Cordani, have been resolved, the people said. Anthem has slightly improved on its previous cash and stock offer of $184 per share and will pay somewhere near $187 per share for Cigna, one of the people said.
22 July, 2015 by The TZ Newswire Staff Comments Off on Lockheed Sikorsky deal marks turning point for more assertive CEO
Lockheed Sikorsky deal marks turning point for more assertive CEO
Lockheed Martin Corp’s (LMT.N) decision to buy helicopter maker Sikorsky Aircraft and sell $6 billion in lower-margin units marks a clear turning point for Lockheed CEO Marillyn Hewson, who is shaking up the world’s largest weapons maker. Thrust into the CEO job in January 2013 after retiring CEO Robert Stevens’ designated successor was fired for having an affair with a subordinate, Hewson spent her first year largely executing a strategy Stevens had mapped out and repairing tense ties with the Pentagon on the $391 billion F-35 fighter program.
22 July, 2015 by The TZ Newswire Staff Comments Off on Microsoft’s hardware strategy under scrutiny after record loss
Microsoft’s hardware strategy under scrutiny after record loss
“Unless Microsoft can get to hardware break-even within two years or demonstrate sufficient offsetting value elsewhere in the portfolio, we think the company should exit the hardware business,” RBC Capital Markets analysts said in a client note. Exiting hardware could add up to $4 per share to Microsoft’s market value, they said. Microsoft, which is shuttering its Nokia phone business, said on Tuesday it would pump the ensuing savings into its fast-growing cloud business, Windows 10 and its hardware division, which includes tablets, Xbox and smartphones.
22 July, 2015 by The TZ Newswire Staff Comments Off on Obama says Ex-Im Bank lapse hurts small businesses
Obama says Ex-Im Bank lapse hurts small businesses
President Barack Obama on Wednesday urged lawmakers to renew the charter for the U.S. Export-Import Bank before leaving for an August break, saying small and large businesses alike have been hurt by the lapse in new loan guarantees and trade insurance. If Congress fails to reauthorize of the Ex-Im Bank, the United States would be the only advanced country to leave companies without export finance assistance, Obama said.