Business

Photo

Cisco veteran Robbins to take over as CEO from Chambers

- Cisco Systems Inc Chief Executive John Chambers will step down in July after 20 years at the helm of the network equipment maker, a symbol of the dot.com stock boom 15 years ago now struggling to boost its bottom line in the era of cloud computing.

Recent Business News

U.S. factory orders rebound solidly, but trend still soft

WASHINGTON - New orders for U.S. factory goods recorded their biggest increase in eight months in March, boosted by demand for transportation equipment, but the underlying trend remained weak against the backdrop of a strong dollar.

1:37pm EDT

Fed's Yellen says met firm at heart of leak probes

WASHINGTON/NEW YORK - U.S. Federal Reserve Chair Janet Yellen met with a research firm that later published confidential information from the central bank, she said on Monday.

7:00pm EDT

McDonald's reset to change structure, cut costs, boost franchises

- McDonald's Corp's new chief executive officer said on Monday he would reorganize business units, sell restaurants to franchisees and cut costs in a bid to turn the fast-food chain into a "modern, progressive burger company." | Video

5:23pm EDT

Greenlight's Einhorn slams oil frackers at Sohn conference

NEW YORK - Billionaire hedge fund manager David Einhorn, who often moves a stock simply by speaking its name, on Monday kicked off the year's most prominent investment conference by laying out a case against oil frackers, arguing these companies drill "lots and lots of holes" and burn through plenty of cash.

6:57pm EDT

Bank of America plans vote on change allowing CEO to be chairman

NEW YORK - Bank of America Corp plans to hold a shareholder vote on the change the board made in October to company bylaws to allow Chief Executive Officer Brian Moynihan to also be chairman.

5:25pm EDT

Markets

  • U.S.
  • Europe
  • Asia
  • Sectors

Sector Summary