MOUNTAIN VIEW (AP) - Symantec has fired its CEO, Enrique Salem, and replaced him with Chairman Steve Bennett. The computer security and data storage company said Wednesday that the move is effective immediately. Bennett, who will stay on as chairman, says it was in Symantec's "best interests" to change CEOs. Salem had been with the company for 19 ...
New Mac operating system goes on sale today NEW YORK (AP) - Apple Inc. will release its new operating system for Mac computers today, with features borrowed from mobile devices and a tighter integration with online file storage. Dubbed Mountain Lion, the new software narrows the gap between the PC and phone software packages, making Mac personal computers work more like iPhones and ...
NEW YORK (AP) - JPMorgan Chase has agreed to pay $100 million to settle a lawsuit by customers who claim the nation's largest bank improperly increased minimum payments on their credit card bills. The proposed settlement would end a three-year-old case against Chase for raising the cardholders' minimum payment to 5 percent of account balances from 2 percent in 2008 and 2009. ...
PALO ALTO (AP) - Business software maker VMware is buying computer networking specialist Nicira for nearly $1.3 billion. The deal announced Monday will expand VMware's product line in the rapidly growing field of computer "virtualization." The term refers to software that lowers the costs of running data centers by enabling a single computer to function like multiple machines. <p style="line-height: 18pt; background: ...
EMERYVILLE (AP) - Peet's Coffee & Tea is being taken private by a German conglomerate for approximately $977.6 million. Privately held Joh. A. Benckiser, which invests in consumer goods brands, will pay $73.50 per share, a 29 percent premium to Peet's closing stock price of $57.16 on Friday. The companies said Monday the deal was worth about ...
SAN JOSE (AP) - Cisco Systems is preparing to lay off about 1,300 workers just a few months after the world's largest maker of computer networking equipment warned that growing economic uncertainty is making it tougher to close sales with its customers. The cuts announced Monday represent about 2 percent of Cisco System Inc.'s payroll of 65,000 workers. <p style="line-height: 18pt; background: ...
MENLO PARK (AP) - It was supposed to be our IPO, the people's public offering.