If stocks sell-off on Friday Jim Cramer wants you to be ready.» Read More
You can almost hear it through the fog if you listen very closely. The spinning blades of a wind turbine being turned by the winds of change. "This project particularly represents a paradigm shift for American business." So says Kevin Schulte, a Vice President and "wunderkind" of Sustainable Energy Developments. The turbine we're looking at was made by GE, the plan to install it and make it work belong to Schulte, but the "paradigm shifter" is someone else. His name is Brian Fairbank.
NBC Universal (parent company is GE which also owns CNBC) and News Corp's joint online video venture doesn't have a name (though in some circles it's referred to as New Site), and it's ostensibly launching in September but there's no specific launch date. But somehow it's worth $1 billion dollars, at least based on a 10% stake reportedly being sold to private equity firm Providence Equity Partners for $100 million.
There's no question that Blockbuster's livelihood is under attack--the business of driving to a store to rent a DVD and driving back when you're done is threatened from video on demand, and digital downloads, especially since both technologies are getting better and faster. So, looking to avoid going the way of the Beta Max, Blockbuster just purchased online movie downloading company Movielink for under $20 million.
U.S. movie rental chain Blockbuster said Wednesday it has bought film download service Movielink for undisclosed terms, giving it a stronger hold in an area where rival Netflix is also staking a claim.
Second-quarter net profit at Swiss Re rose by 45%, in line with expectations, and the reinsurer said on Tuesday it saw a strong outlook for the rest of the year.
Cerberus Capital Management named former Home Depot Chief Executive Robert Nardelli as chairman and chief executive of Chrysler in an executive shake-up just after the private equity firm completed a deal to acquire the struggling No. 3 U.S. automaker.
Talk about moving fast. Just two days after taking ownership of Chrysler, Cerberus Capital has put a new man in charge of the struggling automaker. And it's a bold move picking an auto industry outsider. Bob Nardelli steps in as Chrysler's chairman and CEO in a move that many will question. Yet, I think this move could work for a couple reasons.
The amnesiac assassin Jason Bourne is back, and this time he clobbered Homer Simpson. "The Bourne Ultimatum," the third movie in the espionage action series starring Matt Damon as a one-time CIA hit man searching for his past, grossed $70.2 million its opening weekend to rank as North America's top film at the box office, according to estimates.
The SEC mishandled an investigation of suspicious hedge fund trading that led to the 2005 firing of an SEC attorney, a U.S. Senate report says. The report from the Senate Finance and Senate Judiciary committees, released late on Friday, ends a yearlong inquiry into the dismissal of former SEC staffer Gary Aguirre.
General Electric won EU approval Friday to sell its plastic division to petrochemicals manufacturer Saudi Basic Industries for about $11.6 billion.
National carrier Air New Zealand said on Friday it would buy four Boeing 777-300 aircraft to give it the ability to seek new international routes. It added that it would leave its fuel surcharge unchanged, in contrast to some competitors.
A hospital in Pittsburgh is banning Crocs, the comfy rubbery shoes with holes in them. Hospital officials call them a hazard, fearing a nurse might drop a syringe on his or her foot and, bingo! One nurse tells the AP that's a croc. "I mean, I can get a needle stuck in my arm or my leg."
After paying their dues on the small screen for 18 years, "The Simpsons" have become movie superstars in just one day.
Siemens' new chief executive made his debut on Wednesday with a politically astute disposal, a surprise acquisition but a weak set of third-quarter results, sending Siemens shares down more than 4%.
General Electric has signed three new deals in the Middle East worth a combined $1.8 billion, highlighting the region's importance to the U.S. industrial conglomerate.
The family that controls Dow Jones expects to decide by early next week if it wants to sell the company to Rupert Murdoch's News Corp. for $5 billion, a source familiar with the matter said on Tuesday.
Adam Sandler's faux gay comedy "I Now Pronounce You Chuck and Larry" charmed $34.8 million from moviegoers its first weekend in theaters to nudge the latest "Harry Potter" film from the top of the box office, according to studio estimates on Sunday.
Earnings misses by tech darling Google and Caterpillar, one of the Dow's power drivers, are adding to a wobbly opening on Wall Street. Citigroup though is a bright spot with a better than expected 18 percent profit gain and record revenues from investment banking and overseas business.
Continental Chief Executive Manfred Wennemer will have to play the German card to get key support from German unions to buy conglomerate Siemens' automotive electronics unit VDO.
Satyam Computer Services, India's fourth-largest software exporter, reported a 7% rise in quarterly profit on Friday, below forecasts as a stronger rupee hurt margins.