WRAL.com Business Headlines

Late rally erases steep losses on Wall Street

Wed, 23 May 2012 17:14:07 -0400

A big final-hour comeback pulled the Dow Jones industrial average nearly back to where it started Wednesday.

HP to cut 27,000 jobs - its largest layoffs ever

Wed, 23 May 2012 16:45:19 -0400

Hewlett-Packard plans to jettison 27,000 workers as the growing popularity of smartphones, the iPad and other mobile devices makes it tougher for the company to sell personal computers.

Red Hat shares falter after analyst voices concerns about revenue

Wed, 23 May 2012 16:36:10 -0400

Billings, a predictor of revenue, "could lack the explosiveness seen in the fourth quarter," said Mark Murphy, an analyst at Piper Jaffray in San Francisco, in a note today. "The macroeconomic climate has degraded since Red Hat issued guidance in March."

US sales of new homes rose 3.3 percent in April

Wed, 23 May 2012 13:03:12 -0400

Americans bought more new homes last month, the latest evidence that the U.S. housing market could be starting to recover.

GSK seeks antidote for Human Genome's 'poison pill'

Wed, 23 May 2012 10:43:43 -0400

Glaxo wants action taken to make the poison pill invalid or not applicable to a GSK acquisition of the company. The pill is triggered if GSK gets a 15 percent or greater stake in HGS.

Facebook stock climbs after rocky start

Wed, 23 May 2012 12:17:38 -0400

Facebook's stock is climbing higher, a reprieve for shareholders after the stock's rocky inaugural trading day Friday was followed by a two-day decline.

Roving over rocky Mars like a 'tumbleweed' - NCSU idea

Wed, 23 May 2012 13:45:37 -0400

Two NCSU researchers design a wind-driven rover designed like a tumbleweed to move over Mars' rocky surface.

At IBM, iPhone's Siri can't ask: 'What can I help you with?'

Wed, 23 May 2012 07:31:10 -0400

Big Blue's concerns about security means that workers can't use Siri on their personal iPhones if they want to access IBM's networks, Big Blue's chief information officer says.

Oil drops below $90 for first time since October

Wed, 23 May 2012 16:45:01 -0400

The price of oil dropped below $90 per barrel Wednesday, the latest milestone in a weekslong decline brought on by uncertainty surrounding economies from Europe to China.

PPD hires Pfizer executive as its new CEO

Wed, 23 May 2012 11:52:44 -0400

David Simmons will take over as the leader of the Wilmington-based life science services company on June 4. PPD has been without a CEO since December.

Lenovo profits, revenues soar, boosted by acquisitions

Wed, 23 May 2012 06:04:57 -0400

Lenovo says it sold more computers including Thinkpad laptops to businesses in the U.S. and emerging markets, bringing it closer to Chief Executive Officer Yang Yuanqing's target of becoming the world's largest PC maker. Yang also helped boost sales by acquiring control of Medion AG, an Essen, Germany-based computer maker, and the PC unit of Tokyo-based NEC Corp. last year.

Greek banks to get $23 billion from bailout fund

Wed, 23 May 2012 13:22:13 -0400

Four of Greece's leading banks are to receive a €18 billion ($23 billion) capital injection to replenish reserves which were hit by country's massive debt restructuring deal.

Regulators probe bank's role in Facebook IPO

Wed, 23 May 2012 06:01:13 -0400

Regulators are examining whether Morgan Stanley, the investment bank that shepherded Facebook through its highly publicized stock offering last week, selectively informed clients of an analyst's negative report about the company before the stock started trading.

WakeMed halts bid to acquire Rex

Tue, 22 May 2012 23:35:55 -0400

WakeMed has withdrawn its takeover attempt of crosstown rival Rex Healthcare as part of an agreement brokered by state lawmakers, officials said Tuesday.