David Smith News
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Microsoft Corp.’s Windows Azure software and related programs have surpassed $1 billion in annual sales for the first time, a sign of progress in the effort to challenge Amazon.com Inc. in cloud computing.
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Shares in Sinclair Broadcast Group Inc., owner of stations reaching more than a third of U.S. television households, fell in New York trading after announcing a stock offering to raise money, diluting investors’ stakes.
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Rentokil Initial Plc rose the most in more than two years after disposing of its unprofitable City Link express delivery business in a transaction that cost the pest-control provider 40 million pounds ($62.1 million).
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A growing shortage of shallow-water rigs in the Gulf of Mexico is providing an unexpected profit boost for Hercules Offshore Inc. and Ensco Plc as customers move farther offshore in the hunt for oil.
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Absolute Software Corp., the maker of theft-recovery software installed on a billion laptop computers since 2005, says growth is about to speed up from demand in the $300 billion smartphone industry.
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Suntech Power Holdings Co., forced to put its Chinese solar unit into bankruptcy last month, began that slide into insolvency in 2009 when customers linked to the founder couldn’t pay their bills and the company booked the sales as revenue anyway, regulatory filings show.
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Alcoa Inc., the first Dow Jones Industrial Average member to report results each quarter, is losing its accuracy as a bellwether for the U.S. stock market.
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Southeast Asia’s companies need to add more independent directors to their boards and boost diversity to attract foreign investors including Aberdeen Asset Management Plc and Manulife Asset Management.
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Solar stocks, the most volatile Chinese equities in New York, will extend declines as Suntech Power Holdings Co.’s bankruptcy stokes concern they are over- leveraged, according to Gamco Investors Inc.
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Chinese stocks listed in New York fell, led by solar companies, while trading in Ambow Education Holding Ltd. was suspended for a second day as a buyout offer for the education provider was withdrawn.
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