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  July 2012

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• Breaking News

  • Wall St. extends rise, investors see no change in Fed policy
    By Ryan Vlastelica NEW YORK (Reuters) - Stocks advanced for a second straight day on Tuesday as investors bet the Federal Reserve would temper statements which were interpreted to mean a sooner-than-expected winding down of stimulus efforts. Strong market breadth showed an increased appetite for equities, but trading volume was light, a sign that many market participants were taking a wait-and-see attitude. The Fed's two-day policy meeting started Tuesday, and traders are trying to guess its timeline for scaling back purchases of $85 billion per month of bonds. ...
  • Adobe profit beats as Creative Cloud subscriptions soar
    By Sruthi Ramakrishnan (Reuters) - Adobe Systems Inc, which makes the Photoshop and Acrobat software, reported a higher-than-expected adjusted quarterly profit as demand rose for Creative Cloud, the subscription-based version of its flagship software package. Shares of the company rose 4.4 percent in after-market trading. They closed at $43.36 on the Nasdaq on Tuesday. Adobe has been shifting to web-based subscription service Creative Cloud from a licensing model since last year. ...
  • Google challenges surveillance court on First Amendment grounds
    SEATTLE (Reuters) - Google Inc asked the U.S. Foreign Intelligence Surveillance Court on Tuesday to allow it to publish aggregate numbers of national security requests it receives separately from criminal requests, on First Amendment grounds. In its filing, Google requested the court to allow it to publish the aggregate number of national security requests it receives, including disclosures under the Foreign Intelligence Surveillance Act (FISA), claiming it as part of its First Amendment right to free speech. ...
  • Icahn seeks Dell share buyback, buys Southeastern stock
    (Reuters) - Billionaire investor Carl Icahn promised Dell Inc shareholders that the company would buy back up to $16 billion of stock if they join his campaign to stop the computer maker from going private. Time is running out for Icahn. Next month, the company's shareholders will vote on whether to accept a $24.4 billion bid from the company's founder, Michael Dell, and private equity firm Silver Lake, and so far shareholders' reaction to two of Icahn's proposals has been mixed. Icahn has said repeatedly that Michael Dell's bid undervalues the company. ...
  • Chrysler relents, to recall 2.7 million Jeeps over fuel tanks
    By Bernie Woodall DETROIT (Reuters) - Chrysler Group LLC said it would recall 2.7 million older Jeep models after initially fighting a recall request from U.S. regulators in a dispute over crash protection for their fuel tanks. The recall will affect Jeep Grand Cherokee SUVs from model years 1993 to 2004 and Jeep Liberty SUVs from 2002 to 2007. Regulators from the National Highway Traffic Safety Administration said the agency will continue to investigate the issue, including a review of new documents provided by Chrysler. NHTSA officials said they were pleased with Chrysler's decision. ...
  • Exclusive: Facebook reaches 1 million active advertisers
    By Jennifer Saba (Reuters) - Facebook Inc said on Tuesday it now has 1 million active advertisers globally who used the platform in the last 28 days, a milestone for the company that is seeking to revive its revenue growth. A vast majority of those advertisers are small business owners who have flocked to the world's No. 1 social network. Facebook executives are hoping to net even more small advertisers since 16 million local businesses, ranging from jewelry sellers to clothing stores, set up free pages on the network. ...
  • Exclusive: SunGard explores $2 billion data unit sale - sources
    By Greg Roumeliotis and Soyoung Kim NEW YORK (Reuters) - SunGard Data Systems Inc, the computer software maker that was taken private in 2005 for $11.4 billion, is exploring a sale of its data managing operations that could fetch up to $2 billion, several people familiar with the matter said on Tuesday. The business for sale, which offers data center space and technology infrastructure to clients looking to safeguard their data, has earnings before interest, tax, depreciation and amortization (EBITDA) of around $200 million, the people said. ...
  • Huawei says has no plans to buy Nokia
    NEW YORK (Reuters) - Chinese network equipment and cellphone maker Huawei Technologies Co said it "has no plans to acquire Nokia", responding to a Financial Times report that it would consider buying the Finish phone maker. The denial came from Huawei's vice president for external affairs, Bill Plummer. The story on the FT website on Tuesday had quoted the head of Huawei's consumer business, Richard Yu, as saying: "We are considering these sorts of acquisitions; maybe the combination has some synergies but depends on the willingness of Nokia. We are open-minded." Nokia declined comment. ...
  • Duke Energy turns to insider to succeed CEO Rogers
    By Eileen O'Grady and Anna Driver (Reuters) - Duke Energy Corp has turned to an insider, Chief Financial Officer Lynn Good, to take over as chief executive when Jim Rogers steps down as part of a regulatory settlement linked to its $18 billion takeover of Progress Energy. Good, 54, a veteran of the U.S. utility industry who is well known on Wall Street, was viewed by analysts as a leading contender for the job. Having served as CFO since July 2009, she is considered a strong manager with the experience to lead the large, complex company like Duke, the No.1 U.S. power producer. ...
  • G8 pledges action on tax evasion, few concrete measures
    By William Schomberg and Jeff Mason ENNISKILLEN, Northern Ireland (Reuters) - The world's rich economies said they would take a tougher stance on fighting money laundering and tax evasion but promised little in the way of specific new action at the end of a two-day summit on Tuesday. The Group of Eight leaders signed up for a string of aims including improved transparency about who owns shell companies and more information-sharing between tax authorities. ...

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