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

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

Buffett defends core holdings like IBM, Coca-Cola, in interview

NEW YORK - Billionaire investor Warren Buffett defended some of his core holdings in a televised interview on Monday, but reiterated that equities in general would look expensive in an environment with normal interest rates. | Video

12:20pm 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.

3:40pm 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

GE ties up with Qualcomm, Apple in new lighting business bet

- General Electric Co on Monday announced collaborations with Qualcomm Inc and Apple Inc as it uses digital technology and the growing appetite for data to reinvigorate its 130-year-old lighting business.

Markets

  • U.S.
  • Europe
  • Asia
  • Sectors

Sector Summary