The peer-to-peer home rental company hopes to start collecting New York hotel taxes by July 1.» Read More
*Congress probes automaker's failure to fix until 2014.
Intel, Oracle, Microsoft and Cisco, known as the four horsemen during the late 1990 s technology boom due to their strong performance and leading market share, have all rallied since the beginning of March even as stocks of many other tech companies have been crushed.
Stung by the abrupt change in sentiment, the stocks of recent stars such as Netflix, Facebook, Twitter and LinkedIn are 20 percent to 45 percent below their recent peaks. NEW YORK— Investors drove the stock market lower for a second straight day Friday as they grew anxious that earnings growth was faltering.
WASHINGTON/ DETROIT, April 11- Documents made public on Friday by a U.S. House of Representatives committee provided fresh details on General Motors Co's awareness of problems surrounding ignition switches in millions of its cars- long before the Detroit automaker recalled the vehicles.
SAN FRANCISCO, April 11- Amazon.com Inc is preparing to launch its long-rumored smartphone in the second half of the year, the Wall Street Journal reported on Friday, citing people briefed on the company's plans. Amazon has made great strides into the hardware arena as it seeks to boost sales of digital content and puts its online store in front of more users.
The Guild filed papers with the 2nd U.S. Circuit Court of Appeals in Manhattan, saying that Google's effort to create the world's largest digital library was violating the rights of authors and stifling competition in the busy Internet book sales market.
*Appeals court says case did not belong in New Jersey. *Diane Sawyer, Michael Bloomberg, Rahm Emanuel were victims. The 3rd U.S. Circuit Court of Appeals said the prosecution of Andrew Auernheimer did not belong in New Jersey, hundreds of miles from his alleged crimes, and as a result, his November 2012 conviction and 41- month prison sentence could not stand.
SAN FRANCISCO— The stock market's laws of gravity are ravaging its highest fliers. Stung by the abrupt change in sentiment, the stocks of recent stars such as Netflix, Facebook, Twitter and LinkedIn are 20 percent to 45 percent below their recent peaks. The S&P 500 is 4 percent off its recent high on April 2.
SAN FRANCISCO— Salesforce.com is set to become the anchor tenant in an office tower under construction in San Francisco that's expected to be the tallest building on the West Coast. The business software maker will occupy 714,000 square feet in the new Transbay Tower. It will be renamed the Salesforce Tower.
April 11- Wells Fargo& Co, the biggest U.S. mortgage lender, reported a higher-than-expected 14 percent rise in first-quarter net profit, as a series of one-time gains helped offset the continued slowdown in its home loan business.
Weaker earnings at JPMorgan Chase dragged bank stocks lower. Stocks fell from the open on news that JPMorgan had missed analysts' earnings estimates. Facebook fell 1.1 percent, after a 5 percent drop on Thursday.
First-quarter profit for Wells Fargo& Co., the biggest U.S. mortgage lender, surged 14 percent in the latest quarter as the bank continued to trim its losses on soured loans. HOW IT HAPPENED: The rise in rates on U.S. mortgages in the latter part of last year continued to have a negative impact on Wells Fargo's mortgage business.
SAN FRANCISCO— Zynga Inc., the maker of Farmville and other digital games, said Thursday that it has named a chief financial officer. Zynga did not give a reason Thursday for Vranesh's departure but said he has helped with the search for his replacement since 2013. Vranesh will work with Lee over the next month as part of a transition.
SAN FRANCISCO— Gap Inc. said Thursday that a key sales measure fell more in March than the market had expected, partly because of bad winter weather. Shares of the San Francisco- based company, which owns the Gap, Banana Republic and Old Navy brands, fell nearly 3 percent in after-hours trading following the announcement.
NEW YORK— CEO Jeff Bezos' annual letter to shareholders offers a glimpse into Amazon's internal workings and what it is aiming for in the future, including more grocery services and the much-discussed drone delivery.
SAN FRANCISCO/ NEW YORK, April 10- Carl Icahn backed off calls for eBay Inc to spin out its fast-growing PayPal payments unit on Thursday, after the billionaire investor failed to drum up support from the e-commerce company's major shareholders. Icahn withdrew his two nominees to eBay's board ahead of the company's annual meeting in May.
Google will sell the "Explorer" version of Glass to any U.S. resident who places an online order for the device beginning at 9 a.m. PDT April 15. The product will cost $1,500, the same price that Google Inc. has charged for Glass since sales of the device began last year, the company said Thursday.
SAN FRANCISCO— Pacific Gas& Electric Co. offered a $250,000 reward Thursday for information leading to an arrest and conviction in a startling attack mounted nearly a year ago on telephone lines and the power grid in Silicon Valley. Former Federal Energy Regulatory Commission chairman Jon Wellinghoff has called the incident an act of terrorism.
Cheryl LaFleur, acting chairwoman of the Federal Energy Regulatory Commission, told the Senate Energy Committee on Thursday that employees are "wiping and scrubbing all databases" and taking other steps to protect sensitive information.
Goldman Sachs& Co, Morgan Stanley and Credit Suisse are the lead underwriters for the IPO, Zendesk said in a filing with the U.S. Securities and Exchange Commission. Charles River Ventures, an early investor in Twitter Inc, is Zendesk's biggest shareholder with a 24.5 percent stake, followed by Benchmark Capital Partners LP that has an 18.7 percent stake.