International Business Machines Corp. is reducing stock buybacks after an $8.2 billion first- quarter splurge, putting more pressure on Chief Executive Officer Ginni Rometty to reignite sales growth or cut costs to hit her profit targets.
A benchmark gauge of corporate credit risk in the U.S. declined as Federal Reserve Chair Janet Yellen said the economy will need further support and speculation grew that tensions in Ukraine are easing. Bombardier Inc. plans to sell $1.8 billion of debt in two parts today.
U.S. prosecutors agreed to drop five-year-old fraud charges against former Bristol-Myers Squibb Co. executives Frederick S. Schiff and Richard Lane, who must pay money to a settlement fund under a court-approved deal.
Richard Strassberg, the Goodwin Procter LLP lawyer who represented Martha Stewart’s broker Peter Bacanovic in his 2004 criminal trial, will head a legal team defending former SAC Capital Advisors LP portfolio manager Mathew Martoma against insider-trading charges.
Apple Inc., the world’s most valuable business, led U.S. corporations in amassing a record $1.24 trillion of cash last year as memories of the 2008 credit crisis linger, according to Moody’s Investors Service.