Seeking a new chief executive officer after the resignation of Mark Hurd, Hewlett-Packard Co. said the change won’t affect products or customer relationships and that the depth of management is the best in its history. During a conference call, interim CEO Cathie Lesjak said Monday, “One thing changed in this company on Friday, and that […]
According to a filing Friday with the Securities and Exchange Commission, Hewlett Packard Co. is expected to pay its recently resigned chief executive, Mark Hurd, a hefty severance package. The documents added that Hurd will be paid more than $12.2 million for agreeing to resign as part of the company’s executive severance plan. Until Sept. […]
Cameron International Corp. could emerge as an unlikely beneficiary in the Gulf of Mexico oil spill. In the first days after the Deepwater Horizon drilling rig exploded April 20, killing 11 workers and sparking the worst offshore oil spill in US history, the company came under intense scrutiny. The rig’s blowout preventer, a critical safety […]
Driven by higher DVD rentals at its distinctive Redbox kiosks, Coinstar reported Thursday a sharp increase in second-quarter profit and revenue. Revenue rose 35 percent to $342.4 million, up from $253.8 million in the same quarter a year ago, said the company. Profit rose 92 percent to $13.4 million, or 41 cents a share. The […]
On Wednesday, the third-largest mobile phone maker, LG Electronics, announced a 90 percent drop in operating profit in the April-June quarter, hauled down by a loss at its handset division as it struggled to keep up with rivals in the smartphones race. The weaker results are likely to fuel debate over the extent to which […]
Investors in Asia took some reassurance that European banks had passed “stress tests” on their ability to deal with a debt crisis, which has been a cloud over the global economic recovery. But because the tests showed a combined capital shortfall of the 91 banks put under the microscope that was much smaller than expected, […]
The euro fell on concern stress tests of European Union banks failed to identify sources of weakness that would aggravate the region’s debt crisis, ending its longest weekly rally in nine months versus the dollar. Slumping the greatest amount versus growth-sensitive currencies such as the Australian and New Zealand dollars, the 16-nation currency depreciated against […]
After Google Inc.’s second-quarter results missed Wall Street estimates, the search engine giant’s shares slipped Friday even though net income and revenue climbed sharply. Results were hurt as Google hired aggressively to maintain its commanding lead in online search and expand into other businesses. The company is pushing into everything from Web display advertising and […]
