Embattled Twitter CEO Dick Costolo will step down next year, SunTrust's Bob Peck said.» Read More
July 21- Staffing company ManpowerGroup Inc reported a 5.6 percent rise in quarterly revenue, helped by a recovery in hiring in Europe. The company's revenue increased to $5.32 billion, with revenue from Europe rising 9 percent to $3.50 billion.
July 21- CBS Outdoor Americas Inc said it would buy some outdoor advertising businesses from privately held U.S. billboard company Van Wagner Communications LLC for $690 million in cash. CBS Outdoor, whose customers include Apple Inc, McDonald's Corp and Sony Corp, went public in late March.
July 21- Halliburton Co, the world's No. 2 oilfield services provider, reported a 20 percent rise in quarterly profit as drilling activity increased in the United States and the Gulf of Mexico. The company also increased its share repurchase program to $6 billion from $5 billion.
July 21- Hasbro Inc, the second-largest U.S. toymaker, reported an 8.2 percent increase in quarterly sales, helped by strong demand for its boys' toys such as action figures based on "Transformers" movies and Marvel comics. Hasbro's sales of boys' toys rose 32 percent, while those for girls' toys such as My Little Pony and Littlest Pet Shop rose 10 percent.
July 21- Steel Dynamics Inc will buy Severstal's mini-mill in Columbus, Michigan for $1.62 billion in cash, and AK Steel will buy the Russian steelmaker's assets in Dearborn, Michigan for $700 million in cash. Last month, CEO Alexey Mordashov said that selling the U.S. assets could help decrease Severstal's debt and make the company a lot more profitable.
July 21- Steel Dynamics Inc will buy Severstal's Columbus mini-mill for $1.62 billion in cash, and AK Steel will buy the Russian steelmaker's assets in Dearborn, Michigan for $700 million in cash. AK Steel said the deal also included a cokemaking facility and interests in three joint ventures that process flat-rolled steel products.
India is the most prominent of a group of developing nations angry with rich countries for failing to address their concerns about a deal on trade facilitation struck by WTO member states in Bali, Indonesia, last year. In Bali, WTO members agreed to give India a pass on its stockpiles until 2017, while negotiating a permanent solution.
July 21- Activist investor Elliott Management Corp has taken a $1 billion stake in data storage equipment maker EMC Corp and plans to push the company to spin off its VMware Inc unit, the Wall Street Journal reported, citing people familiar with the matter.
Melissa Chau, Senior Research Manager, Client Devices at IDC Asia Pacific, explains why Xiaomi has a higher chance of succeeding in India's smartphone market.
MUMBAI/ BANGKOK, July 21- Thailand is set to reclaim its status as the world's top rice exporter as weak monsoon rains curb India's crop, helping the Southeast Asian country's new military government offload bulging stockpiles.
Indian farmer Asghar Bhura scrapes a living by growing sugarcane, but the late monsoon means he will earn nothing from his harvest.
SHAMLI, India, July 20- Indian farmer Asghar Bhura scrapes a living by growing sugarcane, but this year's late monsoon has left his tiny plot parched and he will earn nothing from his harvest. Bhura will have to go and work for a big grower to feed his family of six, making 250 rupees a day, as he did when India suffered its last severe drought in 2009..
Eleventh hour negotiations to win Indian approval for a breakthrough global trade pact may not have succeeded despite initial signs of progress.
India is the most prevalent among a group of developing nations angry at rich countries for failing to address their concerns about a deal on trade facilitation- struck by WTO member states in Bali last year- that must be detailed by a July 31 deadline.
July 18- The success of General Electric Co's impending initial public offering for its private-label credit card unit could ride on investors' willingness to bet that a lukewarm consumer-led U.S. economic recovery heats up.
July 18- Sotheby's said it would cut an unspecified number of jobs to cut cost, months after ending a long-running battle with billionaire investor Daniel Loeb by appointing him to its board. Sotheby's shares rose 3 percent to $39 on the New York Stock Exchange on Friday.
The plan, mainly impacting the auction house's U.S. and UK operations, will result in employee-related restructuring charges of about $13 million to be recognized in the third quarter, the company said.
July 18- NQ Mobile Inc, a Chinese mobile security software maker facing allegations of fraud from short-seller Muddy Waters Research Group, said it dismissed PricewaterhouseCoopers Zhong Tian LLP as its independent auditor. NQ Mobile shares fell as much as 21 percent in early trading before reversing course to trade up almost 15 percent by midday.
July 18- Oilfield service provider Schlumberger Ltd, which drills with Rosneft on the Russian island of Sakhalin, said there was no "real impact" on its business in Russia, two days after the United States slapped sanctions on Rosneft. "As of now, there is no impact from sanctions," Schlumberger Chief Executive Paal Kibsgaard said on a post-earnings conference call.
July 18- Google Inc is the best placed of any company to benefit from the shift to mobile, increased local advertising and wearables, analysts said after the search giant posted its 18th straight quarter of 20 percent- plus revenue growth. Google shares were up 2 percent at $593.37 in early trading on the Nasdaq.