IBM reports worst revenue in 14 years, shares slide
(Reuters) – International Business Machines Corp reported its worst quarterly revenue in 14 years as results from newer businesses including cloud and mobile computing failed to offset declines in its traditional businesses, sending shares down nearly…
Fed’s Rosengren takes another shot at pessimistic markets
NEW BRITAIN, Conn. (Reuters) – The Federal Reserve is set to hike interest rates more rapidly than investors currently expect, a top Fed official said on Monday, again pushing back on what he said was investors’ too pessimistic view of the U.S. economy…
Exclusive: Target increases minimum wage to $10 an hour – sources
CHICAGO (Reuters) – Discount retailer Target Corp has started raising employee wages to a minimum of $10 an hour, its second hike in a year, pressured by a competitive job market and labor groups calling for higher wages at retail chains, sources said….
Dow reclaims 18,000 as quarterly scorecards start to flow
(Reuters) – The Dow Jones industrial average climbed to a nine-month high on Monday, in a market buoyed by Hasbro and Disney, as investors braced for a flurry of quarterly earnings reports through the week.
Oil down but off lows as Kuwait strike offsets failed output freeze
NEW YORK (Reuters) – Oil prices slid on Monday after a plan by major oil producers to freeze production was scuttled, but a Kuwaiti oil industry strike helped the market pare losses and settle off the day’s lows.
YP Holdings plans first-round bid to merge with Yahoo: source
(Reuters) – YP Holdings LLC, the digital advertising business of what was formerly called Yellowpages.com, is planning to submit a first-round bid on Monday to merge with Yahoo Inc , a source familiar with the matter said on Monday.
Business confidence boost unlikely if Brazil’s Rousseff impeached: poll
BRASILIA (Reuters) – The probable impeachment of Brazil’s President Dilma Rousseff is unlikely to be followed by an immediate rebound in business confidence or currency gains, a Reuters poll showed on Monday.
Weak markets crimp wealth management profits at big U.S. banks
NEW YORK (Reuters) – Volatile financial markets took a bite out of earnings at big U.S. banks during the first quarter – not just in trading but wealth management, too.
Weak markets leave Morgan Stanley struggling to reach return-on-equity target
(Reuters) – Morgan Stanley’s trouble growing revenue in weak markets may prompt management to take further actions to achieve financial goals, Chief Executive James Gorman said on Monday.
UBS blamed in U.S. trial for $2.1 billion in mortgage bond losses
NEW YORK (Reuters) – UBS AG went to trial on Monday over $2.1 billion in losses that investors incurred on mortgage-backed securities after the collapse of the U.S. housing market.
