Offshoring of back-office work to India, a trend among banks and accounting firms, came under new scrutiny with allegations that Standard Chartered Plc moved compliance oversight work dealing with Iranian banking transactions to India to avoid U.S. regulators.
Citing reputation and legal risk, several brokers downgrade their recommendations of British bank Standard Chartered Tuesday. But one broker's suggestion stood out from the rest
Nearly two weeks after AuthenTec Inc. (Nasdaq: AUTH) advised the U.S. Securities and Exchange Commission it had agreed to be acquired by Apple (Nasdaq: AAPL), the world's most valuable technology company, for $350 million, Apple still hasn’t made an announcement nor filed its own SEC report.
New York City's Bloomberg administration and the NYC Taxi & Limousine Commission are embarking on a stupid plan to expand the taxi fleet as a way of plugging holes in the 2013 budget.
Amazon.com Inc. (Nasdaq: AMZN), the No. 1 e-retailer, said it will start renting textbooks to college students for a semester. At the end of the term, they can ship books back for free.
The S&P 500 rose above 1,400 for the first time since May 3 behind further calls for another central bank stimulus and hopes that the European Central Bank will take action.
The success of Pizza Hut and other foreign food companies suggest that Pakistanis are moving away from traditional meals, even during the holidays.
China’s Lenovo Group (Pink: LNVGY), the No. 2 PC maker, introduced its lightest laptop, the 3-pound ThinkPad X1, its latest entrant in the ultralight market. The 14-inch laptop with battery life up to eight hours will be shipped later in August.
It already has "world famous" French fries coveted by many around the globe in its locations worldwide, but now McDonald's has a new addition in potato cuisine: curly fries. But where on Earth can one get these corkscrew concoctions known as "Twister Fries?"
Tokyo Stock Exchange became the third major stock exchange to have a trade-halting technology failure in less than a week, with some interruption during premarket action due to what the exchange operator called a "systems problem."
According to a latest report by Gartner, worldwide spending for IT outsourcing (ITO) services is on pace to reach $251.7 billion in 2012, a 2.1 percent increase from 2011 spending of $246.6 billion.
General Motors Company (NYSE: GM) talked some smack at Dutch carmaker Spyker N.V. following its Monday announcement that it would sue GM for $3 billion over the bankruptcy of Saab Automobile AB.
Standard & Poor's Ratings Services said Monday afternoon that it lowered its corporate credit rating and other ratings on Best Buy Co., Inc. (NYSE: BBY) from "BBB-" to "BB+," or junk status.
Though Apple hasn't specified the exact release date of iOS 6 - the site currently says it's "coming this fall" - but many believe Apple will release the platform alongside a new iPhone and possibly a new "mini iPad," which are both expected to be unveiled and released in mid-September. iOS 6 looks to be right on track for a September release date, as Apple released the fourth beta build of iOS 6 to developers, also known as Build 10A5376e, on Monday morning.
Microsoft, which has long refused to confirm the advent of a next-generation Xbox console, has finally confirmed new hardware in development, rumored to be codenamed "Durango."
A report by market technology firm Nanex LLC that attempts to explain just exactly what happened at Knight Capital last week shows the "crazy" underbelly of U.S. stock trading
Time Warner's Turner Broadcasting has purchased sports website Bleacher Report for a reported $175 million, according to reports.
Like a bad case of herpes, the bankrupt Swedish automaker Saab Automobile AB just keeps flaring up in General Motors Company's (NYSE: GM) private dealings. Dutch supercar company Spyker N.V. announced Monday it was suing General Motors for $3 billion in damages on account of alleged interference in a 2011 transaction between Spyker (which owned Saab) and Chinese investor Youngman, a deal which Spyker alleges would have saved Saab if it had been successful.
Siri's reputation is well-earned: But would you trust Siri, or any of her similar rivals out there for Android, to pay your bank bill? Nuance has clearly thought about what's missing from the voice recognition department, and unveiled its own solution on Monday, called "Nina." Apple's solution is better for casual users, while Nuance's solution is a must for business and customer service professionals.
Best Buy Co., Inc. (NYSE: BBY) founder Richard Schulze, who stepped down as chairman this year, offered to take the troubled electronics retailer private at $24 to $26 a share?
Knight Capital Group Inc. (NYSE: KCG), which lost $440 million last week when a trading program it had just installed went berserk, confirmed Monday it reached a $400 million rescue deal that will keep the big market maker in business but hammer existing investors.
The Government of India has given clearance to Air India to take the delivery of Boeing's 787 Dreamliner planes after both sides reached a consensus on compensation to be paid by the aircraft manufacturer for the delay in delivery.
The past week was not kind to billionaire Mark Zuckerberg, chairman and CEO of Facebook Inc. Capping it all was word that Zuckerberg had lost his place among the 10 richest technology billionaires, at least temporarily. How can Zuckerberg climb his way back to the top?
Republican presidential nominee Mitt Romney, Italian comedian-turned-political activist Beppe Grillo, New Gingrich and others have been accused of buying thousands of Twitter followers. What could they get out of this new social media gambit?
The number of fresh arbitration cases filed with the International Center for Settlement of Investment Disputes last year reached its highest level in four decades, the ICSID said in a report last week.
There's one developing storyline in the saga of Knight Capital Group Inc., the Wall Street market maker that lost more than $440 million Wednesday when an automated trading program it had just installed went berserk, that's not being talked about: It is being propped up by the very people it tried to screw over.
Google's new Nexus 7 tablet may be garnering attention in the tablet industry, but there may be an unlikely competitor. An Indian company will be offering a tablet running Android 4.1 Jelly Bean that will only cost $125, PCWorld reported.
The U.S. Treasury Department on Friday said it plans to sell $4.5 billion in American International Group Inc. (NYSE: AIG) shares, further cutting its ownership stake in the bailed-out insurer.
Shares of U.S. banks of all sizes and specialties rose Friday over 3 percent, handily beating the performance of the wider stock market, which itself was in a head-first rally following a week of disappointing news. But there was one big exception to the equity party: megabank JPMorgan Chase and Co. (NYSE:JPM), which looked poised to underperform its peers in late-afternoon trading.
Viacom's total revenue declined by 14 percent in the fiscal third quarter, leading to a net profit loss of 7 percent to $534 million. The dip is mainly due to declines in its film and TV properties, which include Paramount Pictures, MTV and Nickelodeon.
