IBT Staff Reporter

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Seagate buys Samsung hard disk unit

U.S.-based Seagate Technology's $1.4 billion acquisition of Samsung Electronics Co's loss-making hard disk drive business pits it head-to-head with Western Digital Corp in an industry that has been dogged by price wars.
Apr 19, 2011

Instant View: Goldman posts 72 percent drop in Q1 earnings

Goldman Sachs Group Inc posted a 72 percent drop in first-quarter profit to shareholders as it made less money from trading bonds for clients. The largest U.S. investment bank posted a profit to common shareholders of $908 million, or $1.56 per share, compared with $3.3 billion, or $5.59 per share, in the same quarter a year ago.
Apr 19, 2011

Seagate to buy Samsung's hard-disk unit for $1.4 bln

Seagate Technology is to buy Samsung Electronics Co's loss-making hard disk drive business for $1.4 billion as it looks to combat rival Western Digital Corp and arrest price wars that have damaged the industry.
Apr 19, 2011

Home building rises, foreclosures a threat

U.S. home building and permits for future construction rebounded strongly last month from February's weather-depressed levels, but a glut of housing on the market will make further gains difficult.
Apr 19, 2011

Toyota may shift U.S. sales goals due to Japan

Toyota Motor Co <7203.T> may have to change its U.S. sales targets because of production slowdowns in Japan and North America, the U.S. sales chief of the world's largest automaker said on Tuesday.
Apr 19, 2011

Thomson Reuters overhauls news management team

Thomson Reuters Corp named Pulitzer-prize winning journalist and former Dow Jones Newswires President Paul Ingrassia to the new position of deputy editor-in-chief, one of four new hires brought in to overhaul its news operations.
Apr 19, 2011

Deficit Deal Deadline is 2012 Election

Sen. Tom Coburn, R-OK on Monday - reacting to a 2 year warning on the nation's pristine credit rating - said Democrats and Republicans needed to reach a deal on cutting the nation's long-term deficits ahead of the November 2012 election, cautioning against waiting for the perfect political moment to tackle the problem.
Apr 19, 2011

State Street operating profit boosted by fee income

State Street Corp , one of the world's largest institutional investors, said quarterly operating earnings rose as improved financial markets helped boost custody servicing and asset management fees.
Apr 19, 2011

Uganda threatens to block social media over protests

Uganda will order social media sites Twitter and Facebook blocked locally if further protests over high food and fuel prices take place because they are being used to fan unrest, a senior official said Tuesday.
Apr 19, 2011

Sony Ericsson battles for parts after Japan quake

Cellphone maker Sony Ericsson is suffering component shortages following the Japanese earthquake and has roped in its bigger parents to give it more muscle in the fight for supplies with bigger rivals.
Apr 19, 2011

Housing starts, permits rebound in March

U.S. housing starts and permits for future home construction rose more than expected in March, snapping back from the prior month's winter depressed levels, government data showed on Tuesday.
Apr 19, 2011

Trust banks' profits ride rising market tide

Two of the leading U.S. custody banks reported higher quarterly earnings on Tuesday as assets under management and fees increased along with the rising stock market and improved financial market conditions.
Apr 19, 2011

Special Report: In the wild west Balkans, a banker's tale

In the central bank governor's wood-paneled office with its beige couch and chairs around a Queen Anne coffee table, the man reached into his briefcase and pulled out an envelope full of cash, offering it expectantly to then-governor Ljubisa Krgovic.
Apr 19, 2011

EU to probe Internet access, mulls stricter rules

The EU will investigate whether telecoms operators are providing fair internet access and might introduce stricter rules to protect consumers, EU Telecoms Commissioner Neelie Kroes said on Tuesday.
Apr 19, 2011

TEPCO To Move Radioactive Water From Reactor

Tokyo Electric Power Co. plans to move the radioactive water from one of the reactor buildings at the Fukushima Daiichi nuclear power plant and treat it on site, the company said.
Apr 19, 2011

Geithner: no risk U.S. will lose AAA credit rating

U.S. Treasury Secretary Timothy Geithner on Tuesday said there was no risk that the United States would lose its prized AAA credit rating, saying political prospects for long-term deficit reduction were improving.
Apr 19, 2011

Sony Ends Shipments Of PSP Go

According to a blog post from a Sony Store employee, Sony is discontinuing shipments of the PSP Go, released in 2009.
Apr 19, 2011

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