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NEW YORK — Apple CEO Tim Cook is giving up $75 million in dividends on restricted stock that the company is awarding to all of its employees. In a filing with the Securities and Exchange Commission on Thursday, Apple Inc. said that Cook requested that his restricted stock units not receive dividends. The dividends that [...]
NEW YORK — Profits at big U.S. companies broke records last year, and so did pay for CEOs. The head of a typical public company made $9.6 million in 2011, according to an analysis by The Associated Press using data from Equilar, an executive pay research firm. That was up more than 6 percent from [...]
WASHINGTON — The number of people seeking unemployment benefits changed little last week, signaling modest job growth. The Labor Department said Thursday that weekly applications for benefits dipped by 2,000 to a seasonally adjusted 370,000. Applications have leveled off this month after declining from April’s five-month high of 392,000. The four-week average, a less volatile [...]
SAN FRANCISCO — Hewlett-Packard CEO Meg Whitman has quantified the painful price that must be paid for the missteps of her predecessors as she tries to turn around the Silicon Valley pioneer. The bungling will wipe out 27,000 jobs so HP can save enough money to lift its earnings and invest in the development of [...]
WASHINGTON — A privately built space capsule that’s zipping its way to the International Space Station has also launched something else: A new for-profit space race. The capsule called Dragon was due to arrive near the space station for tests early Thursday and dock on Friday with its load of supplies. Space Exploration Technologies Corp. [...]
BRUSSELS — Worries about Greece’s electoral turmoil and Spain’s spiraling borrowing costs are piling the pressure on European Union leaders meeting in Brussels on Wednesday amid renewed market pressure to keep the region’s debt problems from getting worse. Spain’s prime minister warned that his country can’t continue much longer with its current high borrowing rates [...]
WASHINGTON — Americans bought more new homes in April, the latest signal that the U.S. housing market is steadily improving. The Commerce Department said Wednesday that sales increased 3.3 percent in April from March to a seasonally adjusted annual rate of 343,000. Sales were up in all regions except the South. The median price rose [...]
PLAINFIELD, Vt. — The MacLaren brothers are third-generation dairy farmers, but they will likely be the last in their family. After working all their lives on the hillside farm in Vermont that their grandfather bought in 1939, rising to milk cows at 3 a.m., even in blizzards and sub-zero temperatures, they decided to call it [...]
MOSCOW — Global stocks enjoyed one of their best days in weeks on Tuesday ahead of a summit of European leaders that’s expected to be dominated by calls to boost economic growth. Europe remains the focus of attention across all financial markets in the run-up to the June 17 Greek election that could go a [...]
WASHINGTON — Americans bought more previously owned homes in April, a hopeful sign that the weak housing market is gradually improving. The National Association of Realtors says home sales rose 3.4 percent last month to a seasonally adjusted annual rate of 4.62 million. That brings home sales back near the pace in January and February [...]
(PARIS) — The 17-country euro zone risks falling into a “severe recession,” the Organization for Economic Cooperation and Development warned on Tuesday, as it called on governments and Europe’s central bank to act quickly to keep the slowdown from dragging down the global economy. OECD Chief Economist Pier Carlo Padoan warned the euro-zone economy could [...]
LONDON — The International Monetary Fund has issued a tough assessment of U.K. economic policy, urging the coalition government and Bank of England to do more to boost demand in the economy. The IMF’s report of its latest consultation with British authorities released Tuesday called for more stimulus, either through further rounds of quantitative easing [...]
MOSCOW (AP) — European stocks inched up Monday morning in spite of investors’ lingering concerns that the G-8 leaders had failed to provide a concrete plan to solve the European debt crisis. Traders both in Europe and Asia were kept on edge by worries about the economic future of Greece and whether it would exit [...]
(BEIJING) — A Chinese conglomerate announced Monday it will buy a major U.S. cinema chain, AMC Entertainment Holdings, for $2.6 billion in China’s biggest takeover of an American company to date. Dalian Wanda Group Co.’s purchase reflects the global ambitions of a wave of cash-rich Chinese companies that are using acquisitions to speed their expansion [...]
WASHINGTON — On paper at least, European leaders agree: They need stronger growth measures to help their economies expand out of their 2½-year-old government debt crisis. Figuring out exactly what those new steps might be will be the hard part. Persistent political divisions — neatly bridged by a Group of Eight summit statement that advocates [...]
BEIJING — China‘s government on Friday rejected a U.S. antidumping ruling against its makers of solar power equipment and Chinese manufacturers warned possible higher tariffs might hurt efforts to promote clean energy. The conflict has worsened U.S.-Chinese trade tensions. The two governments have pledged to cooperate in developing renewable energy but accuse each other of [...]
NEW YORK — Facebook is about to find out just how much status updates, puppy photos and billions of “likes” are worth on Wall Street. Facebook’s stock is set to begin trading on the Nasdaq Stock Market on Friday, the day after the world’s definitive online social network raised $16 billion in an initial public [...]
(WASHINGTON) — Average U.S. rates for 30-year and 15-year fixed mortgages fell to record lows for the third straight week. The steady decline has made home-buying and refinancing more affordable than ever for those who can qualify. Mortgage buyer Freddie Mac says the rate on the 30-year loan dipped to 3.79 percent. That’s down from [...]
NEW YORK — Responding to extraordinary demand, Facebook said Wednesday that it would sell more stock in the company’s initial public offering. But ahead of the IPO, a debate emerged between two of the nation’s largest automakers: Does it pay to advertise on the social network? General Motors, the nation’s largest automaker, said it would [...]
LOS ANGELES — National foreclosure trends took a positive turn in April, as the number of homes seized by banks declined and fewer properties entered into the foreclosure process. But state-level data point to potentially more home repossessions ahead in Florida and many of the 25 other states where courts are required to sign off [...]
