Progress Software divests ObjectStore,completes majority of planned divestitures

Progress Software announced that it has completed the divestiture of its Sonic, Savvion, Actional and DataXtend product lines to Aurea Software, Inc., a newly formed operating subsidiary of ESW Capital, the investment arm of Trilogy Enterprises. As part of the same closing, Progress Software divested its ObjectStore product line to a separate operating subsidiary of ESW Capital. With the completion of these divestitures, the only remaining product line to be divested is Orbix (consisting of Orbix, Artix and Orbacus).

  • Oil went through the roof after a report that OPEC reached a deal to limit production
    Business
    Business Insider

    Oil went through the roof after a report that OPEC reached a deal to limit production

    Oil is going through the roof following a Reuters report citing sources that say OPEC has reached a deal to limit oil production, with the deal going into effect in November. Prices for Brent crude oil, the international benchmark, surged by as much 6.3%, to $49.44 per barrel, around 2:33 p.m. ET. "OPEC agreed on Wednesday to reduce its oil output to 32.5 million [barrels per day] from the current production levels of around 33.24 million bpd, two OPEC sources told Reuters.

  • 10 Worst College Majors for Your Career
    Business
    Kiplinger.com

    10 Worst College Majors for Your Career

    Going to college promises the opportunity to further your education, meet new people and get a taste of independence. It does not guarantee a lucrative career after graduation. While it's true that a worker with a bachelor's degree typically earns 67.7% more than someone with just a high school diploma, according to the U.S. Bureau of Labor Statistics, what you study can be a better indicator of your future employability and earnings potential. We analyzed data for 215 popular college majors, looking at the typical starting and mid-career salaries expected from each. We also examined recent online job postings seeking candidates with those majors, as well as long-term growth expectations for

  • Let's fill a toilet with 240 pounds of mercury and then flush it
    Science
    CNET

    Let's fill a toilet with 240 pounds of mercury and then flush it

    Mercury, both beautiful and potentially dangerous, is a heavy metal that's liquid at normal ambient temperatures. It can be poisonous and should be treated with care. So what do you do with several large flasks of the shimmery stuff? You flush it down a toilet, of course. YouTube channel Cody's Lab filmed that exact experiment for us all to watch with wonder. Related stories Flush a functional solid-gold toilet at the Guggenheim Museum Iron Throne toilet lets you rule the bathroom The Cody's Lab video, posted on Tuesday, kicks off by discussing just how hard it is to flush a dense lead bullet down a toilet. You need a super-sucker of a loo to get the job done. The bullet test prompted Cody to

  • Andrea Tantaros Refuses ‘Seven Figure’ Settlement Offer from Fox News to Drop Harassment Case
    Entertainment
    Variety

    Andrea Tantaros Refuses ‘Seven Figure’ Settlement Offer from Fox News to Drop Harassment Case

    The attorney for former Fox News Channel personality Andrea Tantaros said Wednesday the host had turned down a settlement offer in the  “seven figures” and would continue to press her case alleging harassment by senior executives at the 21st Century Fox-owned cable-news outlet. The legal development threatens to fan the flames of a controversy that the network and its parent hope to extinguish: Roger Ailes, the leader of the network and architect of its popular and influential programming, was ousted in July in the wake of a lawsuit filed by former Fox News anchor Gretchen Carlson alleging sexual harassment by the executive. “As has been widely reported, Fox News previously offered Ms. Tantaros seven figures to renounce her harassment claims against Ailes (and others) in exchange for her eternal silence,” said Judd Burstein, a lawyer representing Tantaros in the matter, in a statement.

  • News
    CNBC Videos

    Cramer's Stop Trading: Apple

    CNBC's Jim Cramer explains why he is watching Apple.

  • Unhappy Target customers send strong message on pill bottles
    TGT
    Associated Press

    Unhappy Target customers send strong message on pill bottles

    Longtime customers of Target's pharmacies are finding a change in pill bottle design hard to swallow. After CVS began operating Target's drugstores earlier this year, distraught customers have been asking — in some cases begging — the drugstore chain to bring back the retailer's red prescription bottles, which came with color-coded rings, labeling on the top and prescription information that was easier to read. Vivian Ruth Sawyer went fishing through her trash to rescue the old Target bottles soon after opening her stapled prescription bag to find the dowdy, white-capped amber vials that are common in most medicine cabinets.

  • 4 in 10 Parents Saving for College Are Making This Really Expensive Mistake
    Business
    Money

    4 in 10 Parents Saving for College Are Making This Really Expensive Mistake

    Four in 10 parents say they’re using a checking account to hold their college savings, and six in 10 report using a plain old savings account, in Sallie Mae’s annual How America Saves for College report. In fact, more than 40% of all college-savings dollars are held in low- or no-return vehicles such as checking accounts, savings accounts, or certificates of deposit. Interest rates in those accounts are negligible—less than 0.1% for most checking accounts and less than 1% for savings accounts.

  • Japan conglomerates seek to merge loss-making nuclear fuel operations: sources
    GE
    Reuters

    Japan conglomerates seek to merge loss-making nuclear fuel operations: sources

    Three Japanese conglomerates are in talks to combine their loss-making domestic nuclear fuel operations, people with direct knowledge of the matter said, as the outlook for restarts of reactors following the Fukushima nuclear crisis remains bleak. Hitachi Ltd , Toshiba Corp and Mitsubishi Heavy Industries Ltd aim to merge the operations as early as spring 2017, one of the people said, declining to be identified as the discussions were confidential.

  • Stock Market Update from Briefing.com
    Business
    Briefing.com

    Stock Market Update from Briefing.com

    1:25 pm: [BRIEFING.COM] The major averages are searching for direction after being shaken by reports of growing concerns about the health of Deutsche Bank (DB 11.51, -0.79). The S&P 500 is lower by 0.9%.Deutsche Bank has plunged 6.5%, exerting pressure

  • GM
    Associated Press

    Q&A: The data your car collects and who can use it

    Most automakers say they won't sell information without an owner's consent. Car data is about to become big business. A new report from consulting firm McKinsey says automotive data could be worth $450 billion to $750 billion globally by 2030.

  • VW CEO hopeful of deal with U.S. authorities by year-end
    News
    Reuters

    VW CEO hopeful of deal with U.S. authorities by year-end

    Volkswagen AG Chief Executive Matthias Mueller said on Wednesday he is hopeful the German automaker can reach agreement by the end of the year with the U.S. government on the size of a fine to settle a criminal investigation of the company's alleged violations of U.S. clean air laws. Mueller, speaking on the sidelines of the Paris auto show, said he also sees “good progress” toward an agreement with U.S. regulators that could allow Volkswagen to repair certain 3.0 liter diesel engines that emit more pollutants than U.S. law allows. Speculation that the U.S. Justice Department will demand a multibillion-dollar fine to settle a criminal investigation of the automaker's use of illegal software to deceive U.S. environmental regulators sent Volkswagen shares into a tailspin earlier this week.

  • Wells Fargo workers say they were fired for reporting 'gaming' of sales quotas
    WFC
    Reuters

    Wells Fargo workers say they were fired for reporting 'gaming' of sales quotas

    At least five Wells Fargo employees have sued the bank or filed complaints with regulators alleging that they were fired after reporting the opening of customer accounts without their permission, according to a Reuters review of lawsuits and complaints to the U.S. Labor Department. The suits and complaints, filed between 2010 and 2014, raise questions about how early Wells Fargo knew about such allegations and how it handled them. One of the fired employees was Birinder Kaur Shankar, a former Colorado-based customer sales representative who in July 2014 filed a complaint with the Labor Department's Occupational Safety and Health Administration (OSHA).

  • News
    CNBC Videos

    Why investors should look at listed real estate

    The return and risk characteristics of listed real estate are exactly the same as real estate assets, says AMP capital's Charles Wong.

  • Business
    Reuters

    Britain's Capita feels Brexit chill as profits, shares take a hit

    Outsourcing group Capita (CPI.L) warned on Thursday that delays in decision making by customers after Britain's vote to leave the European Union would hit its 2016 profit, wiping $2.3 billion (£1.77 billion) off its shares in their worst day of trading. Capita, which provides services to banks, the national health service, retailers and utilities, said it was seeing weaker demand for IT products, recruitment services and reluctance from clients to sign off on major contracts. Britain's economy has held up better than expected since the June 23 vote but the problems at Capita show how uncertainty over Brexit is feeding through to investment decisions and is also having a knock-on impact on sales and profits.

  • As Deutsche struggles, German lawmakers say no more help for ailing banks
    Politics
    Reuters

    As Deutsche struggles, German lawmakers say no more help for ailing banks

    Germany will not help ailing lenders such as Deutsche Bank, senior lawmakers in Chancellor Angela Merkel's conservative bloc said on Thursday, as resistance grew to any possibility of staging a rescue. With Merkel meeting European Central Bank chief Mario Draghi on Thursday, Berlin has already flatly denied it is planning any repeat of the taxpayer-funded bailouts that Germany and other Western countries mounted during the global financial crisis. This followed a newspaper report earlier in the week that the German government had made provisional plans to rescue Deutsche (DBKGn.DE), which is fighting a fine of up to $14 billion from the U.S. Department of Justice.

  • Politics
    Reuters

    UK signs long-awaited Franco-Chinese nuclear project behind closed doors

    By Kate Holton and Karolin Schaps LONDON (Reuters) - A $24-billion deal to build Britain's first new nuclear power station in decades was signed behind closed doors in London on Thursday in a private ceremony that underlined Prime Minister Theresa May's cautious approach to the Franco-Chinese project. Journalists were not invited to the event but the government said the contract had been formally signed by Britain's Business Secretary Greg Clark, French Foreign Minister Jean-Marc Ayrault and China's National Energy Administration Director Nur Bekri. Hinkley Point C will now be built in southwest England by France's EDF with $8 billion of cash from China.

  • News
    Reuters

    Wal-Mart in talks to buy stake in Indian online retailer Flipkart - sources

    MUMBAI/HONG KONG (Reuters) - Wal-Mart Stores Inc (WMT.N) is in talks to buy a minority stake in India's largest e-commerce firm Flipkart, two people familiar with the matter said, as the world's biggest retailer aims to break into a fast growing but highly competitive online retail market. A deal would pit Wal-Mart against U.S. rival Amazon.com Inc (AMZN.O), which has been expanding rapidly in a market that Bank of America Merrill Lynch has forecast will surge to $220 billion in value of goods sold by 2025 from about $11 billion last year. Wal-Mart operates 21 wholesale stores in the South Asian country, but is discouraged from setting up its own bricks-and-mortar shops by rules that limit foreign ownership for multi-brand retailers to 51 percent and the cost of setting up shops in a country as large as India.

  • Ex-Fox anchor's doctor backs sexual harassment claims against Ailes
    Business
    Reuters

    Ex-Fox anchor's doctor backs sexual harassment claims against Ailes

    An ex-Fox News anchor told her therapist that former network chairman Roger Ailes sexually harassed her, two years before she went public with the allegations that the company said she made up, a document filed in court on Wednesday said. Lawyers for Andrea Tantaros filed a statement in New York state court in Manhattan from the therapist, who said Tantaros spoke to her about the harassment in 2014. Tantaros sued Ailes and Fox News, a unit of Twenty-First Century Fox Inc in August.

  • Business
    Reuters

    Fed, BOJ add shine to risk-parity strategy

    The Federal Reserve and Bank of Japan's actions last week have given a second wind to an alternative investment strategy that relies on cheap money and low market volatility to produce outsized returns. Risk parity trades, which involve borrowing to take long positions in both stocks and bonds, have been favoured by some big hedge funds and other institutional investors starved for yield by eight years of record low global interest rates. The funds had a rough 2015 when volatility spiked because of concerns about China's economy and tumbling oil prices, prompting investors to yank more than $2 billion (1.54 billion pounds) from risk parity portfolios, according to Morningstar.

  • Business
    Reuters

    AIG's ex-CEO Greenberg cites lawyers, accountants in fraud defense

    Maurice "Hank" Greenberg, the 91-year-old former chairman of former American International Group Inc , said at his fraud trial that he never would have considered doing a transaction that failed to pass muster with the insurer’s lawyers and accountants. Greenberg defended himself during his second day of testimony over two allegedly sham transactions. "The concept of converting underwriting losses to investment losses was intriguing," Greenberg said in the Manhattan courtroom on Wednesday.

  • Uber launches global assault on takeaway meals market
    Business
    Reuters

    Uber launches global assault on takeaway meals market

    Uber Technologies [UBER.UL] is making an aggressive drive into takeaway meal deliveries, with the U.S. firm gearing up with a big staff recruitment campaign to enter at least 22 more countries. Reflecting its fierce determination to expand beyond its core taxi-hailing business, Uber will launch its UberEats service in Amsterdam on Thursday, the first day of trading in the Dutch market leader Takeaway.com's (TKWY_w.AS) shares. In addition to Amsterdam UberEats says it is also due to launch services in Dubai, Johannesburg and selected areas of Tokyo on Thursday and plans to be in Brussels, Stockholm, Hong Kong, Taipei, Jakarta, and Bangkok in the coming months.

  • Oil price rally slows on doubts over OPEC output deal
    Business
    AFP

    Oil price rally slows on doubts over OPEC output deal

    An oil price rally fuelled by OPEC's deal to cut crude output ran out of steam Thursday with analysts doubting the cartel's ability to seriously tackle a supply glut. "We are confident that OPEC countries will not stick to the agreement," commented Commerzbank analyst Carsten Fritsch. Wednesday's deal came after OPEC kingpin Saudi Arabia allowed bitter rival Iran to be exempted from the cutbacks, as the Islamic republic recovers from years of sanctions on its oil exports.

  • Deutsche Post to buy UK Mail in boost to European network
    Business
    AFP

    Deutsche Post to buy UK Mail in boost to European network

    Germany's Deutsche Post, owner of express delivery service DHL, on Wednesday said it had agreed to buy UK Mail in a push to strengthen its European foothold, while taking advantage of a post-Brexit vote slump in the pound. The German logistics giant said it would pay 440 pence a share for UK Mail, valuing the company at 242.7 million pounds (281 million euros, $316 million). "With this acquisition, we will further extend our network and have a strong foothold in Europe's three largest e-commerce markets, the UK, Germany and France," Deutsche Post DHL group board member Juergen Gerdes said.

  • WFC
    Reuters

    Wells Fargo chief Stumpf heads to Hill with pressure mounting

    The bank's move earlier this week to claw back $41 million in stock awarded to Stumpf, an unprecedented rebuke for a major U.S. bank CEO, is unlikely to silence calls for him to resign over revelations Wells Fargo's branch staff opened as many as two million unauthorized credit card and deposit accounts to meet sales quotas. California, Wells Fargo's home state, suspended business relationships with the bank for a year on Wednesday and said it would work with the state's two giant public pension funds to change the management structure at the bank, including separating the roles of CEO and chairman. The episode has been a stunning reversal for Stumpf, long regarded as a safe pair of hands in the industry for navigating Wells Fargo successfully through the financial crisis.

  • The 5 states where teachers earn the lowest salaries
    Business
    Business Insider

    The 5 states where teachers earn the lowest salaries

    Personal finance site WalletHub recently ranked the best and worst states to be a teacher, considering factors such as average starting salary, median annual salary, income growth potential, and average teacher pensions, as well as non-salary metrics like public school enrollment growth, school safety, and student-teacher ratio. The two lowest-paying states happen to be on opposite ends of the cost-of-living spectrum: While Hawaii is notoriously expensive, South Dakota often ranks as one of the cheaper places to live in America.