Yahoo! Inc. (NASDAQ:YHOO) investors have been premature in reacting to news that the Internal Revenue Service (IRS) is considering changes to rules concerning spinoffs.
In a statement, a Yahoo spokeswoman said it understood that any potential change to the rules would not affect ruling requests that had already been filed.
Yahoo plans to create a new company out of its $33 billion stake in the Read more […]
Major US financial institutions JPMorgan Chase & Co. (NYSE:JPM) and Citigroup Inc (NYSE:C) are expected to plead guilty to forex rigging charges brought by the US Justice Department.
What is remarkable about this settlement is that the parent companies themselves will plead guilty to the criminal charges rather than the forex trading subsidiaries.
Major US-based global financial institutions Read more […]
The $4.4 billion purchase of AOL by Verizon means the incessant talks of Yahoo acquiring AOL can at last be laid to rest. This is good news for Yahoo investors and Yahoo management focused on growing Yahoo in the niche it has chosen.
The Verizon-AOL Deal
The one time giant of the online world, America Online, is a much shrunken version of its former self these days and the broadband and telecommunications Read more […]
In a move that may bring relief to more than a million Americans, Bank of America Corp (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM) have agreed to update borrowers’ credit reports in the next three months and remove the consumer debt that stays even after they are legally eliminated in bankruptcy.
This move represents a long pending victory for borrowers whose credit reports have been impacted Read more […]
With technology stocks like Amazon (NASDAQ:AMZN), Google (NASDAQ:GOOG) (NASDAQ:GOOGL), and Microsoft (NASDAQ:MSFT) setting a scorching pace on NASDAQ, the billionaire founders and owners of these companies have seen their wealth grow ever further.
Amazon has been the best performing of the three stocks and was up by more than 14% and was the most active stock by dollar volume. Amazon CEO and founder Read more […]
As General Electric Company (NYSE:GE) continues to go back to its industrial manufacturing roots by shedding its GE Capital assets, it reported a 1Q2014 loss of $13.6 billion or $1.35 per share. Excluding the GE Capital sales, the company’s net income was $3.1 billion.
GE reported 1Q2015 revenue of $29.4 billion, down 12% from 1Q2014. GE’s oil & gas business revenue declined as did its Aviation Read more […]