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Dec 30, 2011

New details rekindle HP-Hurd flap

By Jim Finkle and Edwin Chan

(Reuters) – Former Hewlett Packard CEO Mark Hurd made increasingly aggressive romantic advances over several years toward an independent contractor who later accused him of sexual harassment, according to claims in a letter from her lawyer obtained by Reuters.

The letter, ordered unsealed and allowed to be made public for the first time since the scandal emerged last year, outlined in intricate detail accusations by TV starlet and HP contractor Jodie Fisher that Hurd had wined and dined her, then allegedly sought sexual favors in return for employment.

Nov 30, 2011

Corning slashes outlook in glass glut, shares drop

Nov 29 (Reuters) – Corning Inc slashed its
fourth-quarter profit outlook and warned that a major South
Korean client was reneging on its contract as LCD glass supply
outstrips demand, triggering an 11 percent share price plunge.

Corning, struggling to cope with a glut of display glass as
global TV sales sputter, now expects consolidated-equity
earnings to dive 30 percent quarter-on-quarter, compared with a
5 percent decline anticipated previously.

Nov 16, 2011

Apple, with eye on media, names Disney’s Iger to board

By Poornima Gupta and Edwin Chan

(Reuters) – Apple Inc moved to shore up its board after the death of Silicon Valley legend Steve Jobs, appointing Walt Disney Co chief executive Bob Iger to its board to propel its media ambitions.

Iger brings sector expertise and Disney’s clout as the world’s largest media and entertainment conglomerate to bear, as Apple prepares to step up a fight with the likes of Amazon.com Inc and Google Inc over content and its distribution.

Nov 16, 2011

Disney CEO Iger on Apple board, Levinson chairman

Nov 15 (Reuters) – Apple Inc moved to shore up its
board after the death of Silicon Valley legend Steve Jobs,
appointing Walt Disney Co Chief Executive Bob Iger to
its board to propel its media ambitions.

Iger brings sector expertise and Disney’s clout as the
world’s largest media and entertainment conglomerate to bear,
as Apple prepares to step up a fight with the likes of
Amazon.com Inc and Google Inc over content
and its distribution.

Nov 3, 2011

MGM Resorts’ Q3 fails to inspire, shares slide

Nov 3 (Reuters) – MGM Resorts International
narrowed its losses, but failed to live up to heightened
expectations as gambling and spending on the Las Vegas Strip
recovered, sending its shares down nearly 6 percent.

The operator of the Bellagio, CityCenter and MGM Grand
reported a smaller third-quarter loss and a slight revenue
beat. But rival Las Vegas Sands Corp comfortably
surpassed Wall Street’s expectations last week.

Oct 27, 2011

Las Vegas Sands’ Q3 impresses Street, eyes Asia

LOS ANGELES (Reuters) – Las Vegas Sands Corp (LVS.N: Quote, Profile, Research, Stock Buzz) posted better-than-expected revenue in Asia and rode a rebound in U.S. growth on Thursday, calming fears that economic weakness would discourage leisure travel and gaming.

Sands’ numbers helped dispel fears its Asian cash cow — Macau — would suffer if China slows or chokes off a lucrative flow of gamblers from the world’s second largest economy.

Oct 25, 2011

IBM taps Rometty to succeed Palmisano as CEO

By Jim Finkle and Edwin Chan

(Reuters) – IBM global sales chief Virginia Rometty will take over as CEO from Sam Palmisano in January, becoming one of the most powerful women in business and technology today.

In taking the helm of the storied industry icon, she makes it the largest U.S. corporation by value to be headed by a woman.

Oct 21, 2011

Love him or hate him, Groupon’s Mason makes a splash

SAN FRANCISCO, Oct 21 (Reuters) – Goofball, visionary,
opportunist, maverick: Andrew Mason invites all manner of
description but the one thing all agree on is that the Groupon
CEO is one shrewd customer.

The music-studies major who says he started Groupon to get
his business partners off his back is now the central figure in
a $540 million IPO that has drawn scrutiny from regulators,
harsh criticism from Silicon Valley, and occasional derision
from the investment community.

Oct 19, 2011

Wait for new iPhone hits Apple Q4

SAN FRANCISCO, Oct 18 (Reuters) – Apple Inc stunned Wall
Street with quarterly results that missed expectations for the
first time in years as customers held off buying iPhones until
the October launch of the latest version.

Shares of Apple fell 7 percent in extended trading on
Tuesday, wiping some $27 billion off the value of the world’s
largest technology company.

Oct 19, 2011

Apple blames iPhone rumors for disappointing results

SAN FRANCISCO (Reuters) – Apple Inc stunned Wall Street by reporting results that missed expectations for the first time in years, blaming rumors of the new iPhone for hurting demand in the September quarter.

Shares of Apple fell 7 percent in extended trading on Tuesday, wiping some $27 billion off the value of the world’s largest technology company.

    • About Edwin

      "Based in Los Angeles, I oversee company news coverage of much of the U.S. West Coast, including such corporations as Apple, Google and Microsoft. Previously, I was bureau chief for Hong Kong and Shanghai and oversaw coverage for all corporations in China and Hong Kong."
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