May 20, 2013

Business Headlines

Big Overhaul Coming for Major Florida Insurance Company?

Updated: 05/16/13 - Citizens: It's Florida's state-run property insurance company. With more than a million policies, it's also the state's largest insurer. That's why revelations of office scandals and lavish corporate getaways aren't sitting well with state leaders. Read More

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Angie's List: Investing in Home Generators

Updated: 05/15/13 - If your home loses power, heating and cooling systems stop working. One of your best bets to protect your family is to buy a home generator. They can cost anywhere from one to ten thousand dollars. But experts say, it's worth it. Read More

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Business News

  • Yahoo buying Tumblr for $1.1 billion, vows not to screw it up

    A photo illustration shows the applications of Yahoo and Tumblr on the screen of an iPhone in ZagrebBy Alexei Oreskovic and Jennifer Saba SAN FRANCISCO/NEW YORK (Reuters) - Yahoo Inc will buy blogging service Tumblr for $1.1 billion cash, giving the Internet pioneer a much-needed social media platform to reach a younger generation of users and breathe new life into its ailing brand. The deal, announced on Monday, is a bold bet by Yahoo Chief Executive Marissa Mayer to revitalize the company by co-opting a Web property with strong visitor traffic but little revenue. ...


  • Wall Street ends flat on correction worries

    Traders work on the floor at the New York Stock ExchangeBy Angela Moon NEW YORK (Reuters) - Stocks ended little changed on Monday, with indexes hovering near record levels as concerns about a correction cut earlier gains that had been prompted by news about a flurry of acquisitions. The Dow and the S&P 500 briefly hit all-time intraday highs. Early in the session, investors' sentiment was brightened by a slew of deal news, including Yahoo Inc's acquisition of Tumblr. ...


  • Sprint gets waiver from Softbank, permitting discussions with Dish

    A woman walks past logos of Softbank Corp at its branch in Tokyo(Reuters) - Wireless service provider Sprint Nextel Corp received a waiver from SoftBank Corp on various provisions of their merger agreement permitting it to engage in discussions with Dish Network Corp. Satellite TV service Dish made a $25.5 billion counter bid last month for Sprint against SoftBank's October agreement to pay $20.1 billion for 70 percent of the U.S. company. The waiver will permit Sprint and its representatives to furnish Dish with non-public information and to engage in negotiations with it regarding Dish's April 15 proposal. ...


  • Apple, Congress spar over taxes ahead of Tuesday hearing

    The Apple logo hangs inside the glass entrance to the Apple Store on 5th Avenue in New York City,By Patrick Temple-West and Poornima Gupta WASHINGTON/SAN FRANCISCO (Reuters) - Using an unusual global tax structure, Apple Inc has kept billions of dollars in profits in Irish subsidiaries to pay little or no taxes to any government, a Senate report on the company's offshore tax structure said on Monday. ...


  • JPMorgan, under pressure, gives up vote information

    A sign stands in front of the JPMorgan Chase & Co bank headquarters building in New YorkBy Karen Freifeld and David Henry (Reuters) - JPMorgan Chase & Co , under pressure from New York officials, gave shareholders information about an upcoming vote that would increase oversight of Chairman and Chief Executive Jamie Dimon. But the ballot details may have come too late for some investors. The bank's annual meeting is on Tuesday and by far the most controversial matter up for vote is whether Dimon should retain his chairman title. ...