Ed Atorino News
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After 30-year-old Harold W. “Terry” McGraw III helped his father fend off a hostile takeover from American Express Co. more than three decades ago, McGraw-Hill Cos. shareholders were rewarded with an 11 percent annualized return through 2012.
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McGraw-Hill Cos., accused by the U.S. of misleading investors about the risks of mortgage bonds that helped ignite the credit crisis, reported the highest sales at its Standard & Poor’s unit since at least 2010, while posting a net loss because of the divestiture of its education unit.
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McGraw-Hill Cos. may be forced to sell its education business, and some of the pressure is coming from Canadian teachers seeking to bolster their pension.
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Gannett Co., the owner of 82 daily newspapers and 23 television stations, reported a jump in third- quarter profit as a decline in publishing revenue was offset by political and Olympics television ad spending.
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A week before MF Global Holdings Ltd. collapsed, its chief financial officer told Standard & Poor’s in an e-mail that the futures broker had “never been stronger.”
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Moody’s Corp. shares rose by the most in two years after demand for its data-analysis services helped third-quarter profit exceed analysts’ estimates.
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Moody’s Corp., the world’s second- largest provider of credit ratings, said quarterly profit fell 4 percent as companies around the world postponed bond sales.
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New York Times Co. and McClatchy Co. fell in New York trading after print advertising sales in the first quarter declined at both newspaper companies.
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New York Times Co ., owner of the namesake newspaper, started Press Engine, a business designed to help other publishers deliver content to digital platforms such as Apple Inc. ’s iPad and iPhone devices.
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Gannett Co., the owner of 82 newspapers and 23 television stations, reported third-quarter profit that decreased 1.6 percent as circulation and print- advertising revenue declined.
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