MARKETS / FINANCE

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Lam Research posts Q1 profit, sees strong Q2 revenue

Chip gear maker Lam Research Corp posted a surprise profit as it cut costs and benefited from strong shipments, and forecast second-quarter revenue above analysts' expectations, sending its shares up 4 percent.

VMware results top estimates, shares rise

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U.S. business software maker VMware Inc posted higher-than-expected quarterly results on Wednesday due to strong sales to the federal government and gave a revenue forecast that beat Wall Street estimates.
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Microsoft, Google snag Twitter search deal

Microsoft Corp and Google Inc have sealed separate agreements to access real-time content from Web phenomenon Twitter, intensifying their battle for a search market that Google now dominates.
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Michigan tops US state jobless rates again in Sept

Michigan again had the highest unemployment rate of all U.S. states in September at 15.3 percent, followed by Nevada and Rhode Island, which set records, the Labor Department said on Wednesday.
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PersonalFinance: Mancession puts burden on women

The current recession has been called a mancession because men have lost more jobs than women have, yet some experts contend women are suffering more: The tight money environment is causing them to give up everything from sleep to children as they worry about finances and scale back their lifestyles and family plans.
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U.S. Fed: Economy perked up from depressed levels

U.S. economic conditions stabilized or improved modestly in most parts of the country, according to a Federal Reserve report on Wednesday that suggested the economy was slowly clawing out of a recession.
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Fed says economy perked up from depressed levels

U.S. economic conditions stabilized or improved modestly in most parts of the country, according to a Federal Reserve report on Wednesday that suggested the economy was slowly clawing out of a recession.
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Canada allows Web traffic throttling as last resort

Canada's main telecom regulator said on Wednesday it will let Internet service providers slow or throttle traffic such as file-sharing that the companies say threatens to overwhelm their networks -- but only as a last resort.
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Skype working on business sector expansion

Internet telephony company Skype aims to open up its platform to boost access to services by the business sector, Chief Executive Josh Silverman said on Wednesday.
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Google, labels partner on music search: sources

Google Inc is partnering with major music labels to launch a new feature to make it easier to discover, sample and buy songs on the search engine, according to two people familiar with the plan.
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Madoff shared prison cell with drug dealer

Epic swindler Bernard Madoff shared a prison cell with a 21-year-old drug dealer, and other fellow inmates included a spy and a mob boss when he was sent to prison in July, according to court documents.
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Galleon winding down; potential buyers reported

Hedge fund firm Galleon Group said it is winding down its funds, less than a week after its founder was arrested and charged with running one of the biggest insider-trading schemes ever involving a hedge fund.
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Google and major labels partner on music search: sources

Google Inc is partnering with major music labels to launch a new feature to make it easier for music fans to discover, sample and buy songs on the search engine, according to two people familiar with the plan.
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Galleon winding down its funds

Hedge fund firm Galleon Group said it is winding down its funds, less than a week after its founder was arrested and charged with running one of the biggest insider-trading schemes ever involving a hedge fund.
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Morgan Stanley profit ends losing streak

Morgan Stanley reported better-than expected third-quarter profit on Wednesday with results bolstered by strong fixed income sales and trading revenue and improved investment banking underwriting results.
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Ex-banker Simonson maps path to Nokia throne

A management revamp at Nokia following a record loss has given 51-year old chief financial officer Rick Simonson a shot at becoming the first non-Finnish chief executive of the world's largest handset maker.
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Verizon CEO criticizes net neutrality proposal

Verizon Communications Chief Executive Ivan Seidenberg said on Wednesday the current debate about net neutrality is extremely troubling and risks halting progress in broadband development.
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Yahoo triples profit, beats expectations

Yahoo Inc beat Wall Street's profit and sales expectations as spending by advertisers showed signs of life in the third quarter and as months of cost-cutting and restructuring boosted the Internet company's bottom line.
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Morgan Stanley profit falls, but beats estimates

Morgan Stanley reported a better than forecast third quarter profit on Wednesday, helped by strong fixed income sales and trading revenues, ending a string of three straight losing quarters.
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Fed's Yellen: No tightening in next several months

The time for the U.S. Federal Reserve to start pulling back its extensive support for the economy is not close at hand and policymakers have time to decide what sequence of steps they will take, San Francisco Fed President Janet Yellen said on Tuesday.
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Madoff investors sue KPMG and major banks

Some investors defrauded by epic swindler Bernard Madoff on Tuesday added accounting firm KPMG , JPMorgan Chase and Bank of New York Mellon to a civil lawsuit in a New York court, lawyer Joseph Cotchett said.
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Galleon staff eye exits, investors debate

Dozens of employees at Galleon Group are hunting for new jobs as investors debate how to react after the hedge fund's founder was arrested and charged with running one of the biggest insider trading schemes.
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Housing, price data points to sluggish recovery

Softer-than-expected U.S. housing starts last month and a drop in prices paid at the farm and factory gate pointed to an anemic economic recovery, backing views that interest rates could stay low for a while.
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Goldman Sachs exec defends bonuses at ethics debate

Bumper payouts to bankers should be seen as part of a longer term investment in London's economy, the vice chairman of Goldman Sachs International told a debate on ethics at St Paul's Cathedral on Tuesday.
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CIT debt offer by obscure fund raises questions

An obscure hedge fund said it offered to buy $1 billion in debt from CIT Group Inc but declined to identify its source of capital. CIT would not comment on whether it was seriously considering the offer.
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IRS warned again of homebuyer credit fraud

The internal watchdog for the U.S. Internal Revenue Service is expected to warn the agency for the fourth time about fraud in the multibillion dollar homebuyer tax credit program, according to a report to be released at a congressional hearing later this week.

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