BNY Mellon said an accounting system it relies on to calculate the prices of clients' mutual funds and exchange traded funds broke down over the weekend just as investors headed into a global market meltdown sparked by fears over the Chinese economy. The system, run by financial software provider SunGard, resumed with limited capacity on Tuesday but was still...» Read More
LONDON, March 12- British outsourcing firm Serco on Thursday launched a 555 million pounds rights issue after a spectacular profit collapse and said it was unlikely to return to sales growth for another three years. Serco's shares fell as much as 16 percent as analysts' hopes for a smaller cash call were dashed and the company's more cautious outlook beyond 2015...
LONDON, March 12- British outsourcing firm Serco kicked off a 555 million pound rights issue on Thursday and said it was unlikely to return to growth for another three years, as it reported a spectacular collapse in profits. Shares in Serco fell 15 percent in early trade to 175 pence. "There is a real sense that, having confessed our sins and in taking the punishment, we...
LONDON, March 12- Serco kicked off a 555 million pound rights issue on Thursday and said it had the right plan in place to turn the embattled British outsourcing firm around after a spectacular collapse in profits and reputation. Guidance for 2015 profit was maintained, although Serco scrapped the dividend and added it would not now comment on prospects for 2016...
Xerox reported a slightly better-than-expected quarterly profit as expenses declined 4 percent.
Accenture raised its revenue forecast for fiscal 2015 after contract wins helped it post better-than-expected first-quarter earnings and revenue.
Socialism is in his heart, but Infosys billionaire Narayana Murthy says on May Day that "capitalism is the way forward."
Activist investor Elliott Management wants big changes at Juniper Networks, and momentum is building for the company to bend to the pressure.
Li & Fung has long been on the cutting edge of globalization, chasing cheap labor to garment factories first in China, then elsewhere in Asia, including Bangladesh.
Vish Iyer, President of TCS Asia Pacific says the company is looking to expand footprint in China and is keeping an eye out for acquisitions that boost growth.
Jigar Shah, senior VP at Kim Eng India, tells CNBC a fall in IT outsourcing company, Tech Mahindra's growth is coming because a low margin of acquisitions.
Michael Foust, CEO at Digital Realty, speaks about the cost effectiveness of data centers and current trends in the industry along with business model, growth prospects and the company's acquisition plans.
Aafter years of pain for America’s manufacturing sector and its workers, some economists and analysts are wondering if the tide may be turning.
President Obama and Vice President Biden are hosting a forum today in an effort to promote "insourcing" American jobs. Business leaders will meet with the President to talk about why insourcing is needed to help create jobs and attract investing dollars from companies looking to establish or grow U.S. subsidiaries.
Security and outsourcing company G4S is planning to spend 200 million pounds ($330 million) per year on acquisitions, the company's CEO told CNBC Tuesday, after the company beat analyst expectations to post first-half earnings growth of 8 percent.
What is Sri Lanka’s contribution to global outsourcing? Accountants. The New York Times reports.
With US companies exporting jobs to India, outsourcing companies have outperformed the Nasdaq over the past 6 months. Here's how to play it.
Under fierce pressure to cut costs, large Japanese companies are increasingly outsourcing and sending white-collar operations to China and Southeast Asia, where doing business costs less than in Japan. The New York Times reports.
Even Snapple, an American iced tea maker with a homespun image, is outsourcing work to an Indian company. But in a twist, the deal may increase jobs in the United States.
Challenger, Gray & Christmas reported today the pace of tech industry job cuts jumped 167 percent in the second half of 2008, with computer, electronics and telecom firms slashing 186,995 jobs in 2008. It's the highest total since the 228,325 job cuts in 2003. And January is shaping up to be equally brutal.
Remember the wall to wall coverage given to the dangers of outsourcing in the run up to the 2004 presidential election? It was the shark attack story of that summer. Some of us argued that the threat was exaggerated. It turns out that the supply side of outsourcing was as over estimated as the demand side.