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IBM Sells Chip Manufacturing Business, Saves Jobs

Posted On October 20, 2014

(Armonk, NY) -- IBM is expected to announce a major business transaction today that will save thousands of jobs in New York's Hudson Valley. The company is paying California-based GlobalFoundries, which has a plant in New York's Saratoga County, to take over its nonprofitable chip manufacturing business. "The Journal News" reports IBM is shelling out…

Yahoo Could Announce Cost-Cutting Plan On Tuesday

Posted On October 20, 2014

(Undated) -- Yahoo could announce cost-cutting measures on Tuesday in response to pressure from an activist investor. The company also is expected to provide some insight on tech startups it plans to buy using the nearly six-billion dollars from last month's Alibaba IPO. Yahoo owns a major share of the Chinese e-commerce giant. Yahoo recently…

Fed Policymaker: Fed Should Be Patient On Interest Rate Decision

Posted On October 20, 2014

(Boston, MA) -- A top Federal Reserve official thinks the nation's central bank may need to wait another year to bump up its key interest rate from near zero. Boston Fed President Eric Rosengren said over the weekend that patience is needed given recent volatility like last week's sharp market selloff. Investors are nervous about…

Foreign Investors Take Aim At Reebok

Posted On October 20, 2014

(Undated) -- Foreign investors in Hong Kong and Abu Dhabi have their sights set on buying Reebok from parent company Adidas. "Marketwatch" reports the Asian billionaire Low family and investors associated with the government of Abu Dhabi plan to offer Adidas two-point-two-billion dollars for Reebok. There's no word on how receptive Adidas might be to…

Two Insurance Brokers Offering Ebola Coverage

Posted On October 19, 2014

(Undated) -- Two privately-owned insurance brokers are offering first-of-its-kind Ebola insurance to hospitals. An American brokerage firm is teaming up with a London-based underwriting firm to sell policies that insure hospitals against any profit losses that result from Ebola quarantine shutdowns. They also protect the medical facilities from any potential revenue losses after a quarantine…