U.S. Markets Wrap: Stocks Rise as Data Lift Optimism on Economy

 

    

April 1 (Bloomberg) — U.S. stocks advanced for a second day as sales of existing homes unexpectedly increased and a manufacturing gauge topped economists’ estimates, bolstering optimism that the worst of the recession is over. The dollar strengthened against the euro and oil fell. Continue reading

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Global Economic Slide May Be Easing as G-20 Gathers

 

   

April 2 (Bloomberg) — Leaders of the most powerful nations meet today amid signs that the world economy is stabilizing after months of freefall.

The Group of 20 summit convenes in London as some reports suggest the pace of decline is easing. U.S. durable-goods orders and home sales rose in February, Chinese urban investment surged 26.5 percent in the first two months of the year, and German investor confidence in March reached its highest level since July 2007. The Standard & Poor’s 500 Index last month rallied the most in seven years. Continue reading

Online advertising up

               

NEW YORK – US INTERNET advertising revenue climbed in the fourth quarter in spite of the poor economy, but the growth rate was sluggish compared to previous years, according to an analysis released on Monday.

 

The report from the Interactive Advertising Bureau and PricewaterhouseCoopers said that revenue from online ads – which companies like Google and Yahoo heavily rely on – totaled US$6 billion (S$9 billion) in the last three months of 2008. Continue reading

Google to Lay Off 200 Employees

 

 

Make it official: Google‘s not immune from the bad economy and plummeting ad market. We’ve been hearing for weeks that Google would have layoffs. Google is cutting 200 employees today, the company now confirms.

Google executive Omid Kordestani, the company’s sales chief, wrote in the offiicial Google blog that cuts are concentrated in Google’s sales and marketing operations, as tipsters told us earlier, Continue reading

5,000 cuts coming to IBM

 

 

 

* Latest round hits more than 4 pct of U.S. workforce

 

* Job cuts mostly in IBM’s global services business

 

* Shares close down 0.42 pct (Adds analyst comment, details on IBM’s recent results)

 

NEW YORK, March 25 (Reuters) – IBM (IBM.N) will cut about 5,000 jobs in the United States, adding to similarly large cuts in the past few months, sources with knowledge of the matter told Reuters on Wednesday. Continue reading

Skype targets businesses with new service

               

Skype is going after business customers with a new service designed to help cash-strapped companies reduce communications costs.

On Monday, Skype, which is owned by eBay, will announce a new version of its Internet calling service that allows companies to use their IP-enabled corporate phone systems to make Skype calls using regular office phones instead of using a headset that plug into a PC. Continue reading