Business

Hewlett-Packard announced the firing of three top executives after reporting a dismal quarter and acknowledging that the company's failure to execute on its own internal computing initiatives left it vulnerable to competitors. HP, which released earnings a week before they were expected, fell far sh...

PalmSource, provider of Palm OS, an operating system powering next generation mobile devices and smartphones, today announced Eric Benhamou will step down as chairman of the board of directors, further separating two parts of what had been PDA maker Palm. Benhamou is expected to continue to serve as...

It has become increasingly obvious that the Securities and Exchange Commission (SEC) has reverse mergers and shells in its sights. Is this a temporary phenomenon? Will it pass? This column talks about what is happening in the small-cap industry that will affect companies that want to go public throu...

Another one-two punch hit Wall Street Thursday as investors worried about the future of technology earnings and oil prices again tested record levels. The latest blow came from Hewlett-Packard, which missed profit targets for its third quarter and issued an updated forecast that was also below what ...

The long wait for Google's IPO may be drawing to an end. Google said yesterday that it would terminate bidder registration for its Dutch-auction style offering at 5 p.m. EDT today. That sets the stage for those registered to place their bids, a process that could take between a day and a week or mor...

Sonus Networks today announced the Nasdaq Stock Market has denied the company's request for additional time to file its Form 10-Q for the period ended June 30, 2004. Due to the extended time required to complete its recent detailed financial review and restate its historical financial results, Sonus...

Oil prices and warnings from some key technology companies weighed on U.S. stock markets Wednesday, ending a two-day rally. Markets had performed well both before and after the Federal Reserve, as expected, raised interest rates on Tuesday. Upbeat comments on the economy that accompanied the report ...

The Motion Picture Association of America (MPAA), the trade group for the US movie industry, said Tuesday it has settled lawsuits with 321 Studios, a now defunct company which once made software which allowed consumers to make back up copies of DVDs and video games.

The Federal Reserve raised short-term interest rates by a quarter point, to 1.5 percent, on Tuesday afternoon. That much was widely expected. The real news lay in the accompanying statement, in which the Fed strongly implied that it would continue to raise rates in coming months. Although the report...

It says the rise in oil prices has curbed economic activity and softened the labor market but believes this will only be temporary and the economy can expect to expand down the track.

Cisco Systems today reported its fourth quarter and fiscal year results for the periods ended July 31, 2004. Net sales for the fourth quarter of fiscal 2004 were US$5.9 billion, compared with $4.7 billion for the fourth quarter of fiscal 2003, an increase of 26 percent, and compared with $5.6 billio...

The Federal Reserve increased interest rates by another quarter point and expressed optimism that the economic recovery remains on track, providing a spark for a late-day rally on Wall Street. In a widely anticipated move, the Fed boosted the benchmark federal funds rate to 1.5 percent, the second i...

A company driven out of business by Hollywood and the video game industry over its DVD-copying software has reached a settlement with the motion picture industry. In the settlement, suburban St. Louis-based 321 Studios and its owners agreed to stop selling DVD copying software worldwide, said Matthe...

Nanosys yesterday announced that Peter S. Garcia has joined the company as chief financial officer. The action comes less than a week after the company pulled its plans for a $100 million initial public stock offering due to what the company called "the volatility of the public capital markets." Cal...

India's Central Board of Direct Taxes (CBDT) issued a circular in May on the taxability of foreign companies that have outsourced work to India. Official notices have also been sent out to Indian IT outsourcing firms asking for information on the nature of services being provided by outsourcing orga...