Business/Finance :: Corporate
Rue21 Agrees to Go Private in Nearly $1B Deal
Clothing and accessories company Rue21 has agreed to be taken private in nearly $1 billion deal with private equity firm Apax Partners.
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"I Am Not Stupid All of You Are"
An Arizona restaurateur, fed up after years of negative online reviews and an embarrassing appearance on a reality television show, allegedly posted a social media rant laced with salty language.
Complaint Accuses Exxon Mobil of Anti-Gay Bias
One after another, major U.S. corporations have updated anti-discrimination policies to protect gay, lesbian and transgender workers, drawing plaudits from gay-rights groups. There’s one prominent exception: Exxon Mobil Corp.
Yahoo Reboots Flickr, Offers 1 terabyte of Storage
Fresh on the heels of its $1.1 billion acquisition of Tumblr, Yahoo says it is rebooting its languishing photo-sharing site Flickr with plans to make it "awesome" again.
Apple’s Cook Faces Senate Questions on Taxes
Apple’s CEO is disputing assertions by a Senate panel that the company avoids billions of dollars in U.S. taxes by shifting profits to foreign affiliates.
Athlete-Amputee Becomes Artificial Limb Inventor
CBS News’ Ben Tracy reports on an inventor whose idea for an artificial limb design was borne out of his own experience losing his lower leg in a sporting accident.
Yahoo Takes Big Leap with $1.1B Deal for Tumblr
Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet pioneer that had fallen behind the times.
Small-Company Stocks Lead the Market Higher
The stock market is edging higher in midday trading, led by small-company shares.
A Year After IPO, Facebook Aims to be Ad Colossus
Despite its disappointing stock market performance, Facebook has delivered strong financial results. Net income increased 7 percent to $219 million in the most recent quarter, compared with the previous year. Revenue was up 38 percent to $1.46 billion.
Economists Predict Increase in Consumer Spending
Consumer spending is likely to pick up this year, while government spending declines at a faster rate, according to a survey of business economists.
Silver Drops Despite Steady Market Tone Elsewhere
The price of silver was the standout mover in financial markets Monday as it took a hammering for the second trading session in a row, even as stocks remained relatively solid amid hopes over the U.S. economy.
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