news Archive

Former VW CEO quits as Audi chair as emission-scandal probes continue

Image credit: wbur.org Former Volkswagen Chief Executive Martin Winterkorn has stepped down as chairman of luxury brand Audi amid an investigation of two emissions scandals that occurred during his reign at Europe’s largest carmaker. Winterkorn quit his post at Audi on Wednesday, a spokesman at the Ingolstadt-based carmaker said on Thursday, after resigning as chief executive [&hellip

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Activision Blizzard is buying Candy Crush maker King for $5.9 billion

Activision Blizzard is purchasing King Digital, the makers of popular game Candy Crush, for a total equity value of $5.9 billion. The deal is all cash. Activision Blizzard will $18 per share, which is nearly a $20% premium over King’s recent price. While the acquisition still has to be approved by King’s shareholders and cleared [&hellip

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The largest takeover of the year is about avoiding US taxes

The drug giants Pfizer and Allergan are in talks to merge. If successful, the deal could be the largest this year. Allergan has a market value of about $113 billion. It could also offer Pfizer something the US company has been after for a while – a way to slash its tax bill. It could [&hellip

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Saline price spike leads to call for FTC probe

Source photo Four U.S. senators asked the Federal Trade Commission to investigate whether suppliers of saline solution have illegally inflated prices to exploit a chronic shortage of the hospital staple. The senators sent a letter Monday to FTC Chairwoman Edith Ramirez stating that prices for saline have risen 200% to 300% since a shortage began [&hellip

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Debenhams’ CEO is throwing in the towel

The boss of struggling department store Debenhams is leaving after 5 years in the job, bowing to pressure from investors. Debenhams announced today that Michael Sharp has told the board to start looking for a successor, as we will leave sometime next year. Sharp has been CEO since 2011. Sharp and chairman Nigel Northridge have [&hellip

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Microsoft CEO’s compensation drops 78% on reduced stock award

Microsoft Corp. MSFT, +0.23% Chief Executive Satya Nadella’s total compensation in 2015 fell to $18.3 million, a 78% drop largely tied to a drop in his stock compensation. Meanwhile, his base salary for the year ended June 30 jumped 31% to $1.2 million and his cash bonus rose 20% to $4.3 million, according to a [&hellip

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The 129 finance people you have to follow on Twitter

Twitter has evolved into a platform for serious finance gurus. Beyond the jabberings of the small-time players, these analysts, hedge funders, and big players have the power to sway markets in 140 characters, and they often take to Twitter to give their two cents. And it’s smart stuff. We asked Wall Street analysts and Business [&hellip

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Apple’s newest courtroom foe is patent-savvy university

As a veteran of the global smart phone wars, Apple is used to courtroom battles with fierce competitors such as Samsung and Nokia. This week, however, a federal jury returned a verdict against Apple in a lawsuit brought by a different kind of adversary: a public university. The University of Wisconsin-Madison’s licensing arm, the Wisconsin [&hellip

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Silicon Valley IPO market boom winding down, data shows

Last year, many tech IPOs enjoyed soaring valuations in their Wall Street debut, raining cash on the companies and their investors and boosting concerns about another Silicon Valley bubble. Now, the party is winding down, according to data analyzed by Reuters: Five of the 12 U.S.-based tech companies that went public this year, or 42 [&hellip

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Hillary Clinton confronts critics at first Democratic debate

Source photo Hillary Clinton on Tuesday went on offense in the first Democratic presidential debate on gun control, foreign policy and the Republican probe of her email server, while also punching back against a quartet of primary rivals seeking to knock her out of front-runner status. On the issue of guns, Clinton was asked if [&hellip

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