Michael Gomez, Managing Director at Pimco, explains why there's no need for India to hike interest rates despite expectations for an uptick in inflation on Tuesday.» Read More
April 16- Yahoo Inc's Chief Executive Marissa Mayer is working on a plan to persuade Apple Inc to ditch Google as its default search engine in favor of Yahoo, technology news site Re/code reported, citing sources within Yahoo. Mayer's effort is in advanced stages, with a detailed pitch already prepared for Apple executives, the website said.
April 16- Yahoo Inc, which posted anemic first-quarter revenue growth, said it has nominated three new members to its board. The three members include billionaire Charles Schwab, namesake chairman and chief executive of discount broker Charles Schwab Corp..
*First-quarter earnings of $1.33/ share vs est $1.30. April 16- American Express Co's quarterly profit beat analysts' average estimate as a tighter control on expenses helped make up for slower growth in consumer spending in its key U.S. market.
BofA Merrill Lynch, Citigroup and RBC Capital Markets are the underwriters to the IPO, the San Francisco- based company told the U.S. Securities and Exchange Commission in a preliminary prospectus. Zoosk is backed by venture capital firms including Canaan VIII LP, ATA Ventures and Bessemer Venture Partners.
April 16- Railroad operator Kansas City Southern reported better-than-expected quarterly results as a bumper corn crop in 2013 led to higher grain shipments. Midwest to Mexico, Chief Executive David Starling said on a conference call with analysts.
*First-quarter net profit $1.96/ share vs est $1.69. April 16- Capital One Financial Corp's quarterly profit rose about 10 percent, beating estimates, as the credit card issuer set aside less money to cover soured loans.
April 16- American Express Co's first-quarter profit beat analysts' average estimate as its credit-card customers spent more in a recovering U.S. economy and the company kept expenses in check.
April 16- International Business Machines Corp reported lower-than-expected quarterly revenue as the company struggles with falling demand for its storage and server products. IBM shares fell about 4 percent to $189 in after-hours trade.
April 16- Capital One Financial Corp's quarterly profit rose about 10 percent as the credit card issuer set aside less money to cover soured loans. The company's net income available to common stockholders rose to $1.14 billion, or $1.96 per share, for the first-quarter ended March 31, from $1.04 billion, or $1.77 per share, a year earlier.
April 16- International Business Machines Corp reported lower-than-expected quarterly revenue as weakness in its storage and server businesses continues to offset gains in its software services. Total revenue fell 4 percent to $22.5 billion in the first quarter, below analysts' average estimate of $22.91 billion.
April 16- Railroad operator Kansas City Southern reported a 10 percent rise in first-quarter revenue, helped by higher shipments in its agriculture business. Revenue rose to $607.4 million from $552.8 million, while revenue at the company's agriculture business jumped 40 percent.
American Express Co reported a 12 percent rise in quarterly profit as its credit-card customers spent more in a recovering U.S economy.
April 16- CBS Corp said on Wednesday that the Internal Revenue Service gave a favorable ruling to the company's plan to convert its outdoor advertising subsidiary, CBS Outdoor Americas Inc, into a real-estate investment trust. Media conglomerate CBS holds an 81 percent stake in CBS Outdoor, which went public in late March.
*The UK is a great place to do business, says Starbucks EMEA boss. LONDON, April 16- Starbucks Corp will move its European headquarters to London from the Netherlands this year and pay more tax in the UK as a result, the company said on Wednesday.
April 16- Signaling a tougher stance toward legal claims stemming from its recent recall over faulty ignition switches, General Motors Co said it will ask a U.S. court to bar lawsuits related to actions before its 2009 bankruptcy.
*Announces 10 pct wage hike for India staff, higher than rival Infosys. MUMBAI, April 16- Tata Consultancy Services Ltd, India's largest IT services exporter, expects a further rise in revenue growth in the new financial year, it said on Wednesday, after reporting a better than expected 51.5 percent increase in the last three months.
The company raised about $163 million after its offering was priced at $25, below the expected price range of $26- $29 per share. Moelis, founded and led by veteran Wall Street investment banker Ken Moelis, offered 6.5 million shares of Class A common stock, lower than the 7.3 million it had initially planned.
April 16- Bank of America Corp reported an unexpected first-quarter loss on Wednesday after it took a $6 billion charge to cover litigation expenses, a figure that far exceeded the legal settlements the No. 2 U.S. bank has announced recently.
April 16- At-home soda maker Sodastream International is in early talks to sell a stake of up to 16 percent to a strategic entity, Israeli financial news daily Calcalist reported on its website.
April 16- The euro zone is set for at least two more years of low inflation, held down by a strong currency and anaemic economic and jobs growth, and still faces a very real threat of deflation, a Reuters poll showed on Wednesday.