King Says Hedge Funds Didn’t Cause Him to Lose Sleep in Crisis

Bank of England Governor Mervyn King said officials didn’t lose sleep during the financial crisis worrying about the failure of hedge funds, whose model provides a potential solution in regulating the banking system.
“After the failure of Lehman Brothers and the need to recapitalize the banking system, it became very clear that hedge funds, […]

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Metro Denver EDC issues annual look at area’s industries

The fifth annual study of metro Denver’s ranking in seven industry clusters, released Thursday by the Metro Denver Economic Development Corp., concludes that the region offers a diversified economy and the nation’s second-most highly educated workforce.
The report, available here, was completed by the Patty Silverstein of Development Research Partners. It looks at seven major industries […]

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China Trade Deal ‘Vital’ First Step for Taiwan, Official Says

Taiwan needs to seal a free trade agreement with China to ensure the island can compete with regional rivals in global markets, according to the island’s official who is leading the talks.
Taiwan has been unable to join in a wave of bilateral or multilateral free-trade agreements in recent years because China regards the […]

San Jose mulls downtown business incentives

San Jose Councilman Sam Liccardo is suggesting waiving fees, offering free parking and reimbursing companies for the taxes they generate to encourage businesses to locate in the city's downtown.
Liccardo, whose council district includes the downtown, said Monday that as the country emerges from the worst recession in 75 years, the city must seize opportunities to […]

Intel rebound brightens outlook for PC industry

Intel Corp. said Thursday that its fourth-quarter profit blew past expectations, confirming a rebound in the recession-battered personal computer market is underway.
Intel’s bright profit outlook for 2010 means the No. 1 maker of computer microprocessors sees a lasting recovery past the stellar fourth quarter — not an isolated holiday shopping blip.
[…]

Stocks stage late advance

A tech rally propelled the Nasdaq and helped the broader market erase losses Friday, as investors took in stride a surprisingly weak jobs report amid other recent signs that the economy appears to be stabilizing.
The Dow Jones industrial average (INDU) added 11 points, or 0.1%. The S&P 500 index (SPX) gained 3 points, or […]

AOL Chief Takes Apple Turnaround as Model to Revive Ad Sales

AOL Inc. Chief Executive Tim Armstrong is on a mission to show that the company isn’t some dot-com has-been selling Web access and e-mail. It’s a digital-media company with 80 websites churning out everything from personal finance advice to bedroom tips.
The 100 million unique viewers AOL attracts each month are enough to […]

Tiffany profit beats; view raised ahead of holiday

Tiffany & Co reported a larger-than-expected quarterly profit and raised its forecast for full-year earnings on the strength of its overseas sales and a solid start to the holiday season, sending the upscale jeweler’s shares up nearly 6 percent.
The company’s sales showed double-digit growth in Asia and a slower rate of decline for the […]

Brocade to post late Monday, long after HP

Brocade Communications Systems Inc. has scheduled its earnings announcement three hours after the market closes Monday, long after Hewlett-Packard Co. posts its quarterly results.
The San Jose-based networking equipment company (NASDAQ:BRCD) is expected by analysts to report a drop in fourth quarter earnings per share to 13 cents, excluding items, compared to 20 cents a share […]

Companies drop pensions, pay execs $350 million: watchdog

Ten large U.S. companies paid senior executives a total of $350 million in the few years prior to dropping traditional pension plans for employees, a Congressional watchdog said on Thursday.
Forty executives in a range of industries received the compensation in base salaries, bonuses, severance and perks in the five years before the pension plans […]