Business News
Cheniere Energy drops lawsuit against Tellurian chairman, vice chairman
Tellurian Inc on Thursday said Cheniere Energy Inc has dismissed all claims against its Chairman Charif Souki and Vice Chairman Martin Houston.
Month: January 2020
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Berkshire Holding Amazon Rockets on 4th-Quarter Earnings Beat
Retail giant joins trillion-dollar market cap club as earnings smash estimates Continue reading… …read more […]
Business News
Amazon holiday sales jump as one-day shipping pays dividends, stock up 13%
Amazon.com Inc on Thursday posted holiday quarter results well above expectations as the expansion of its one-day shipping program came under budget and membership in its Prime loyalty club notched a 50% rise in two years.
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IBM CEO Ginni Rometty resigns
IBM CEO Ginni Rometty announced Thursday that will resign from her role, and be replaced by the company’s current Senior Vice President for Cloud and Cognitive Software, Arvind Krishna. The Final Round panel discusses the latest. …read more […]
Business News
Canadian lender CIBC flags layoffs as it battles challenging environment
Canadian Imperial Bank of Commerce became the second Canadian bank in as many months to reveal lay offs as it contends with a tough environment for revenue growth.
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IBM Names Arvind Krishna CEO, Replacing Ginni Rometty
(Bloomberg) — International Business Machines Corp. named Arvind Krishna as chief executive officer, replacing longtime CEO Virginia Rometty.Krishna is currently the head of IBM’s cloud and cognitive software unit and was a principal architect of the company’s purchase of Red Hat, which was completed last year. Rometty, 62, will continue as executive chairman and serve through the end of the year, when she will retire after almost 40 years with the company, IBM said in a statement Thursday. The shares rose about 5% in extended trading.Since becoming IBM’s first female CEO in 2012, Rometty had bet the company’s future on …read more […]
Business News
Amgen 2020 outlook falls short of Street estimates, shares down 3%
Amgen Inc on Thursday forecast 2020 earnings well short of current Wall Street estimates, sending shares of the largest U.S. biotechnology company down 3%.
Business News
SkyWest orders 20 old-generation Embraer jets as order for new line remains paused
Brazilian planemaker Embraer SA said on Thursday that U.S. regional carrier SkyWest Inc had signed a firm order for 20 E175 planes from the E1 generation, worth close to $1 billion, as an order for a newer, more efficient plane remains in limbo.
Business News
IBM CEO Ginni Rometty to step down; cloud boss to succeed
International Business Machines Corp Chief Executive Officer Ginni Rometty will step down after eight years in the role and will be succeeded by the head of its cloud business Arvind Krishna in April.
Business News
Financial vulnerabilities could undermine effect of rate cuts: Bank of Canada
Financial vulnerabilities like high household debt could undermine central bank efforts to keep inflation in check, since they potentially limit the effectiveness of rate cuts, a top Bank of Canada official said on Thursday.
Business News
EA forecasts fourth-quarter revenue below estimates, shares slip
Electronic Arts Inc forecast fourth-quarter revenue below analysts’ estimates, weighed down by the delayed launch of its basketball title “NBA Live”, while its “Apex Legends” battles “Fornite” and “PUBG” to attract young gamers.
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WWE Plunges After Earnings Slump and Company Sacks Management
(Bloomberg) — World Wrestling Entertainment Inc. replaced two top executives after 2019 earnings came in at the low end of estimates, a shake-up that rattled investor confidence in the pro-wrestling giant.Shares of WWE plunged as much as 14% to $53.50 in extended trading after the company announced that it’s replacing Co-Presidents George Barrios and Michelle Wilson, effective immediately.Frank Riddick, a board member for more than 11 years, has been named interim chief financial officer, WWE said Thursday. He’ll report to Chairman and Chief Executive Officer Vince McMahon.“The board and I decided a change was necessary,” McMahon said. “We have different …read more […]
Business News
IBM long-time CEO Ginni Rometty to step down; Arvind Krishna to succeed
International Business Machines Corp said on Thursday its long-time chief executive officer Ginni Rometty was stepping down from the role and will be succeeded by the head of its cloud business Arvind Krishna, effective April.
Business News
Stocks, oil tumble on fears virus to hurt China’s economy
Global equity markets tumbled on Thursday as the death toll from China’s coronavirus outbreak hit 170, pummeling oil prices and inverting a closely watched bond indicator as investors worried about the world’s second-largest economy.
Business News
Wall Street reverses course to end higher after WHO comments
U.S. stocks rebounded late to close higher on Thursday after the World Health Organization (WHO) declared the China coronavirus a global emergency, while earnings painted a mixed picture.