SolarCity slashing costs, including CEO pay
LOS ANGELES (Reuters) – SolarCity Corp on Wednesday said it would cut operating costs, including slashing its chief executive’s salary, to bring expenses in line with its reduced solar installation outlook.
World stocks rise, dollar weakens on divided Fed
LONDON (Reuters) – World stocks rose and the dollar sank to a seven-week low on Thursday after minutes of the U.S. Federal Reserve’s latest meeting showed policymakers were divided over whether to raise interest rates soon.
Philippine ex-bank manager out on bail in case linked to cyber heist
MANILA (Reuters) – A Philippine court on Thursday released on bail a former branch manager of a Manila bank in a perjury case linked to the world’s largest known cyber bank heist, police said.
Lenovo first-quarter profit leaps, helped by asset sale, but smartphone losses linger
HONG KONG (Reuters) – China’s Lenovo Group , the world’s biggest PC maker, said first-quarter profit jumped nearly two-thirds, helped by a one-off asset sale, but its mobile arm lost money again as a $3 billion bet on buying Motorola to diversify has y…
As technology shifts more layoffs loom at tech companies
NEW YORK (Reuters) – Cisco Systems Inc’s announcement on Wednesday that it plans to lay off 5,500 employees is unlikely to be the last round of Silicon Valley pink slips as hardware companies struggle to keep up with rapid technology shifts, analysts a…
Bosch worked ‘hand-in-glove’ with VW in emissions fraud: lawyers
WASHINGTON (Reuters) – German auto supplier Robert Bosch GmbH was a “knowing and active participant” in a decade-long scheme by Volkswagen AG to evade U.S. emissions laws, according to lawyers for U.S. owners of polluting VW diesel vehicles.
Wall St. ends up slightly as Fed minutes show split over rate timing
(Reuters) – U.S. stocks ended slightly higher on Wednesday after minutes from the Federal Reserve’s last policy meeting showed voting members divided over whether to raise interest rates soon.
Cisco to cut 5,500 jobs in shift from switches to software
SAN FRANCISCO (Reuters) – Cisco Systems Inc said it would cut nearly 7 percent of its workforce, posting charges of up to $400 million in its first quarter, as the world’s largest networking gear maker shifts focus from its legacy hardware towards high…
Peabody gets U.S. court approval for clean-up deals, executive bonuses
(Reuters) – Bankrupt coal company Peabody Energy won U.S. court approval on Wednesday for agreements with three states to partially cover $1.14 billion in potential environmental liabilities and for a bonus plan for its six top executives.
American Apparel hires investment bank to explore sale: sources
(Reuters) – American Apparel LLC, the U.S. teen clothing retailer known for its sexually suggestive advertising, has hired investment bank Houlihan Lokey Inc to explore a sale, people familiar with the matter said on Wednesday.
