American Apparel rejects takeover bid: Bloomberg
(Reuters) – Bankrupt teen apparel retailer American Apparel Inc’s board has rejected the latest takeover offer involving the company’s controversial founder, Dov Charney, Bloomberg reported, citing two people familiar with the decision.
Foursquare CEO steps down; company raises $45 million in funding
(Reuters) – Foursquare’s chief executive, Dennis Crowley, is stepping down and will be succeeded by Jeff Glueck, the company’s current chief operating officer.
Asia shares win reprieve after oil rebound
TOKYO (Reuters) – Asian stocks won a temporary reprieve on Friday after oil prices snapped their eight-day rout, helping to lift battered energy shares even as investors remained on edge as they looked for signs of stability in China’s economy and its …
Goldman Sachs settlement on mortgage-backed bonds to hit earnings
(Reuters) – Goldman Sachs Group Inc said on Thursday it would pay over $5 billion to settle claims it misled mortgage bond investors during the financial crisis, a move that will cut the firm’s fourth quarter earnings by about $1.5 billion.
Slowing data center revenue growth dims Intel’s profit beat
(Reuters) – Intel Corp’s strong quarterly profit beat was overshadowed by concerns about slowing revenue growth in its highly profitable data center business, sending its shares down about 5.6 percent in after-market trading.
United Technologies names new head of Pratt & Whitney engine unit
NEW YORK (Reuters) – United Technologies Corp on Thursday named Robert Leduc as president of its Pratt & Whitney aircraft engine division, succeeding Paul Adams, who is retiring.
Energy leads Wall Street rebound; S&P has best day since December
NEW YORK (Reuters) – A rally in battered energy shares led U.S. stocks to rebound on Thursday, while financials rose after upbeat results from JPMorgan Chase & Co.
GM challenges ignition-switch plaintiff’s account of crash fallout
NEW YORK (Reuters) – A lawyer for General Motors Co pushed back Thursday against an Oklahoma man’s testimony that his quality of life plummeted because of crash injuries he blamed on his Saturn Ion’s faulty ignition switch, in the first trial after a recall of millions of vehicles with the defective switch.
Wal-Mart closed over 10 percent of Brazil stores in restructuring: sources
CHICAGO/SAO PAULO (Reuters) – Wal-Mart Stores Inc has closed about 60 stores in Brazil, or more than 10 percent of its locations in the country, as part of a restructuring of one of the retailing giant’s most important overseas markets, people familiar…
Buffett expands oil bet, buys more Phillips 66
(Reuters) – Warren Buffett is expanding his bet on the oil industry, slowly adding to his already large stake in oil refiner Phillips 66 even as crude oil prices have sunk to a 12-year low.
