Asian stock markets extended losses Tuesday as investors fretted over the fragile outlook for global growth and the Federal Reserve's plan to raise U.S. interest rates soon. … [Read more...]
D.R. Horton’s Profit Increases Almost 44%
D.R. Horton, the largest U.S. homebuilder, reported a near 44 percent jump in profit for the fourth quarter as the company sold more homes and it said orders rose 19 percent. Orders, an indicator of future revenue for homebuilders, rose to 8,477 homes, increasing in all regions except the U.S. Midwest, where they fell by one unit. … [Read more...]
Breen Named as Chairman and CEO of DuPont
DuPont's board of directors named Edward D. Breen as chairman and CEO after a month of holding those positions in an interim capacity. Breen was named as an interim leader last month after the sudden retirement of Ellen Kullman, 59, after she had fought off a bruising challenge from activist investor Nelson Peltz. … [Read more...]
Anoto Group AB Acquires Smartpen Maker Livescribe
California-based smartpen maker Livescribe has a big announcement today: it’s being acquired by Swedish digital-writing solutions company Anoto Group AB, which operates globally in such industries as consumer, healthcare, banking and finance, transportation and logistics, and education. … [Read more...]
Fannie Mae Profit Down from $3.9B Last Year
Mortgage giant Fannie Mae reported net income of $2 billion for the July-September period, down from $3.9 billion a year earlier. The government-controlled company attributed the third-quarter decline in profit mainly to losses on the investments it uses to hedge against swings in interest rates. … [Read more...]
182K Jobs Added by US Businesses in October
American businesses added a solid but unspectacular 182,000 jobs in October, according to a private survey. In a report Wednesday, payroll processor ADP also revised September job creation down to 190,000 from an originally reported 200,000. … [Read more...]
Power-Assisted Brake Failure Results in Volkswagen Recalling 92,000 US Cars
Volkswagen is recalling nearly 92,000 cars in the U.S. to fix mechanical problems that can knock out the power-assisted brakes. … [Read more...]
The Palace Wowed By 3 Startups
Even for experienced pitchers, Pitch@Palace is tough. Entrepreneurs pitch in front of Prince Andrew, the Duke of York, at the very imposing St. James's Palace and anyone who strays even a word over the three-minute limit is interrupted by two trumpet-playing members of the Queen's Guard (wearing their trademark bearskin hats). It's not for the faint-hearted. … [Read more...]