International Business Machines Corp reported a 12 percent fall in first-quarter revenue as the technology company continues to shed unprofitable businesses to focus on cloud-computing initiatives.
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China's banks foil support measures for housing market
China's drumroll of policy support for its flagging housing market has met an unlikely foe: banks. Beijing has tried to revive a flagging housing market as it looks to arrest an economic slowdown, but banks are increasingly worried about bad debts and are not passing on policy steps like interest rate cuts and lower downpayment requirements to home buyers.
Shares gain on China stimulus; Greece worries weigh on euro
Equity markets rebounded on Monday after China took steps to stimulate its economy and Wall Street also rose on corporate earnings, while the euro weakened further on worries about Greece.
GE in talks to sell lending, leasing portfolio to Wells Fargo: source
General Electric Co is in early-stage talks with Wells Fargo & Co about selling its entire $74 billion U.S. commercial lending and leasing (CLL) portfolio to the bank, according to a source familiar with the situation.
Kraft removing synthetic colors from iconic macaroni & cheese
Kraft Foods Group Inc on Monday said it is revamping its family-friendly macaroni and cheese meal, removing synthetic colors and preservatives from the popular boxed dinner.
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Founder Guy Laliberté has agreed to sell control of Cirque du Soleil, the world's largest theatrical production company, for about $1.5 billion, the Globe and Mail reported, citing sources familiar with the matter.
Japan's Daiichi Sankyo Company Ltd (4568.T) is selling its stake worth up to $3.6 billion in Indian drugmaker Sun Pharmaceutical Industries Ltd (SUN.NS), a person directly involved in the deal said on Monday.
Sony Corp on Monday unveiled a new high-end Xperia handset featuring an aluminium frame and a 5.2-inch screen, showing it is still in the smartphone race even as it scales down its struggling mobile operations.
China's central bank will inject some of its war chest of foreign exchange reserves into two state-owned policy banks to support the government's overseas development plans, financial news magazine Caixin reported.
Halliburton Co (HAL.N) warned of headwinds in its international operations and pricing pressure for its oilfield services in North America, its largest market, as an extended slump in oil prices continues to force drillers to slash spending.
U.S. stock index futures rose on Monday, following a sharp decline in the previous session, as Chinese steps to stimulate its slowing economy and earnings including those from Morgan Stanley lured money back into equities.
Chinese president Xi Jinping is due in Pakistan on Monday where he will launch $46 billion in projects linking the old allies, a figure that far exceeds U.S. spending in Pakistan and underscores China's projection of power in Asia.
U.S. arms maker Raytheon Co (RTN.N) said it would buy cybersecurity provider Websense Inc from private equity firm Vista Equity Partners LLC for $1.9 billion, including debt.
Wall Street investment bank Morgan Stanley reported a much stronger-than-expected rise in first-quarter profit, boosted by higher revenue from trading bonds and equities.
