Business & Finance News
FarmVille game maker Zynga Inc said on Thursday it would buy an 80 percent stake in Empires & Puzzles publisher, Small Giant Games, for $560 million in a move to strengthen its gaming portfolio.
Chip supplier Qualcomm Inc won a second court skirmish in its worldwide patent battle with Apple Inc on Thursday, with the iPhone maker saying it would pull some older models from its German stores.
U.S. Treasury Secretary Steven Mnuchin said on Thursday that investors’ reaction to the Federal Reserve’s interest rate hikes was “completely overblown”, in an unusually direct comment on financial market activity.
A bipartisan group of U.S. senators sent a letter to regulators on Thursday expressing concern that financial technology startup Robinhood may not be offering full transparency to its customers over the botched launch of its new cash management service.
Hackers working on behalf of China’s Ministry of State Security breached the networks of Hewlett Packard Enterprise Co and IBM , then used their access to hack into their clients’ computers, according to five sources familiar with the attacks.
Oil prices fell about 5 percent on Thursday, hitting their lowest level in more than a year on worries about oversupply and the outlook for energy demand as a U.S. interest rate rise knocked stock markets.
General Motors Co will respond by Jan. 7 to Canadian union proposals to keep an Ontario auto assembly plant open, the head of Canada’s largest private sector union said on Thursday.
Japanese carmaker Nissan Motor Co Ltd will lay off about 1,000 workers in Mexico at two factories, citing “challenging market conditions,” the company said on Thursday.
Campbell Soup Co is close to naming Mark Clouse, the former CEO of Pinnacle Foods, as its new chief executive, people familiar with the matter said on Thursday, a key step in the U.S. company’s efforts to regain market share and boost profits.
The Nasdaq Composite Index , known for its high-profile technology and internet companies, dropped into bear market territory in intraday trading on Thursday, the latest segment of the U.S. stock market to fall more than 20 percent from its previous high.
There is no more mistletoe hanging above the markets.
Late fall brought a dust cloud of bad news for the U.S. economy, with shippers like Fedex cutting their global outlook for next year, chipmaker Micron Technology missing its revenue target as demand slides worldwide, and GM trimming 14,000 jobs as sales slow, not to mention a stock market limping into year end.
Tesla Inc Chief Executive Elon Musk raised hopes again on Thursday that he could ride to the rescue of a threatened General Motors Co car plant at the center of a political storm about auto jobs, and GM replied, saying the Ohio factory’s fate depends on union talks next year.
A Brazilian judge on Thursday issued his second injunction blocking the proposed sale of 80 percent of planemaker Embraer’s commercial aviation division to Boeing Co , as attempts to stop the deal intensified while the two companies neared closing the transaction.
Marlboro cigarette maker Altria Group Inc will buy a 35 percent stake in Juul Labs Inc for $12.8 billion, a marriage between an old-line tobacco giant and a fast-growing electronic-cigarette rival looking to make inroads among smokers.
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