Business News

Microsoft Purchases Nokia Devices Unit

ABJ – Sept. 3 –Microsoft has purchased Nokia's Devices and Services unit, acquiring the successful Lumia brand. The move is not all that surprising in that it unites Windows Phone 8 with its biggest hardware supporter, and gives the company an integrated solution ...
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Verizon Not Heading to Canada – For Now

ABJ – Sept. 3 – In an announcement that has sent shock waves through the Canadian telecom sector, the head of Verizon Communications says his company has no interest in expanding into Canada. CEO Lowell McAdam made the comments during an interview with Bloomberg ...
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GE to Exit Retail Lending

ABJ – Aug. 30 – General Electric has yet to confirm reports that it plans to spin off the domestic consumer lending operations of its finance arm GE Capital. However, it’s been rumoured for quite some time that GE has been working towards a more ...
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‘White Whale’ Supervisor Arrested

ABJ – Aug. 27 – Former JP Morgan Chase trader Javier Martin-Artajo has been arrested in Spain after turning himself in for his alleged role in a $6.2 billion financial scandal at the largest bank in the United States. Martin-Artajo and Julien ...
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Durable Goods Down in July

ABJ – Aug. 26 – Orders for durable manufactured goods were off sharply in July, sending concern throughout the economic community. In fact, it was the largest decline in almost a year and once again has analysts thinking about what that could mean for the ...
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Ballmer to Retire; Microsoft Shares Surge

ABJ – Aug. 23 – Microsoft CEO Steve Ballmer announced his unexpected retirement plans today, resulting in shares of the software maker moving up almost 6 per cent. The 57-year-old Ballmer took over as day-to-day boss from co-founder Bill Gates in ...
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Wells Fargo Cuts 2,300 Jobs

ABJ – Aug. 22 – Wells Fargo is purging its workforce its workforce by 2,300 employees due to rising interest rates and declines in mortgage refinancing. "Yesterday, at locations across the country, we provided a 60-day notice of displacement to approximately 2,300 ...
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Housing Rebound Helps Home Retailers

ABJ – Aug. 21 – Lowe's home improvement stores reported a bigger-than-expected gain in quarterly profit and sales thanks in large part to the housing market's recovery in recent months. The surprising good news helped boost Lowe's shares by nearly 5 ...
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Icahn Seeks Fast-Track of Dell Lawsuit

ABJ – Aug. 16 – Activist investor Carl Icahn is asking a Delaware court to fast-track his lawsuit against Dell as part of his ongoing bid to derail CEO Michael Dell's $24.8 billion offer to buy and take private the PC maker he founded.Icahn wants ...
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Black-listed from U.S. Directorships

ABJ – Aug. 16 – Former Canadian media magnate Conrad Black has been banned by the U.S. securities regulator from becoming a director of an American company. On top of that, he must also pay more than $4 million in restitution in a settlement regarding ...
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