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The Mexican bribery scandal engulfing Walmart rattled investors Monday, sending shares of the company down nearly 5%, and its Mexican subsidiary down over 10%. The key question now is how much damage the scandal will do to the world’s largest retailer. Among the risks the company could face: charges of bribing foreign officials, new questions [...]
In a maneuver designed to cement their control, Google’s founders announced an unusual stock plan that will maintain their grip on the search giant well into the future. Wall Street greeted the proposal — company shares rose 2.4% in after-hours trading — but the plan could spook shareholder-rights advocates.
More details have emerged in the strange case of Brian Dunn’s resignation as CEO of Best Buy. The company’s board is investigating allegations that Dunn “used company resources to carry out an inappropriate relationship with a female employee,” according to Best Buy’s hometown paper, the Minneapolis Star-Tribune. The paper also reported that the board plans [...]
A powerful, entrenched industry desperately tries to confront an economic disruption caused by the rise of a new technology, only to face charges of violating federal law. Threatened by an upstart, potentially existential digital rival, five major publishing houses joined with Apple in a conspiracy to raise e-book prices, costing consumers millions of dollars, the complaint charges.
Are inflation hawks preparing to take flight? That’s the sense one gets reading comments made by two U.S. central bank officials Tuesday, including Dallas Fed President Richard Fisher, who said that corporate chiefs have been sounding the alarm about an increase in prices thanks to the Fed’s easy money policy.
In an unusual clarification, Best Buy said late Tuesday that CEO Brian Dunn had resigned amid a probe into his “personal conduct” — just hours after announcing that Dunn had left the company after “mutual agreement” that the big-box retailer needed new leadership. The mysteriously terse update, which came after an inquiry by the Minneapolis [...]
Best Buy CEO Brian Dunn, who rose from sales associate to lead the world’s largest electronics retailer, resigned Tuesday after 28 years at the company, in the latest sign of distress for the troubled U.S. big-box retail sector. Best Buy has struggled in recent years as consumers increasingly forsake in-person retail shopping in favor of [...]
Wall Street cheered AOL’s deal to sell $1 billion worth of patents to Microsoft, sending the onetime Internet pioneer’s stock soaring over 40% Monday to levels not seen in nearly two years. For Microsoft, the deal highlights the premium that tech companies are willing to pay in order to bolster their intellectual property position and [...]
Since then, Page has streamlined the company’s management ranks, jettisoned several non-essential product lines, and worked to increase the company’s competitive metabolism in an effort to inject the company with “the passion and soul of a startup.” But Page’s first year has been pockmarked by privacy stumbles continuing challenges confronting Facebook in the increasingly crucial social networking space. Here’s a first year assessment of Page’s performance one-year in.
Job growth in March was disappointing. Do Fed policymakers feel the stalling jobs picture warrants a third round of Fed monetary stimulus, or quantitative easing (QE3)?
