fourth quarter

Xerox splits into two; Carl Icahn to get 3 berths on board

Xerox Corporation will be split into two separate business entities for hardware and services businesses. It's learnt that activist investor Carl Icahn will get multiple positions on the boards of the two companies including three on the board of services company. Xerox's fourth quarter numbers are expected to be released on Friday and an official statement about division may also be announced simultaneously.

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Blackstone profit falls 70%: hits on challenging volatile markets

Blackstone’s fourth quarter profit drops on volatility. the fourth quarter profit fell to 70 percent. This occured because the asset sales slowed and whipsawing markets took a toll across its business.

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AmEx to slash cost by $1bn by 2017

Feeling the heat of competition in the global payments industry, American Express (AmEx) is in the process of reducing costs by $1billion by end of 2017. AmEx posted losses for the fourth quarter consecutively. The net income dropped from $1.44 billion to $873 million or 80 cents per share for the quarter. The forecast for this year disappointed investors and analysts.

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GoPro Cuts Workforce Following Poor Sales Revenue Outlook in Fourth Quarter

GoPro Inc., Sun Mateo, California based company is going to cut 7% people out of its 1500 employees following poor sales revenue in Q4. Some technical issues have been blamed for sluggish sales during the fourth quarter from the action camera maker’s behalf. But the company axes over the employees to restructure expenses. However, analysts presume, the fall in sales revenue may not be up to that magnitude.

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Businesses, trade to support U.S. third-quarter growth

A robust pace of business spending likely buoyed U.S. economic growth in the third quarter, a sign corporate chieftains have confidence in the sustainability of the recovery.

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Jet Airways-Etihad deal to be completed by the end of 2013

Despite the recent quarterly loss report from Jet Airways, Etihad is still awaiting the completion of the deal.

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