Visa details restructuring, results ahead of IPO
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Visa, the world's largest credit card network, unveiled details of a planned restructuring on Friday as it prepares by early next year to follow smaller rival MasterCard Inc.  in becoming a public company.
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Google&#39;s public share offering is expected to go ahead as early as today following a request for final regulatory approval from the US Securities and Exchange Commission.
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Backdating to the Future Research In Motion today placed a 'preliminary' tag beside its Q2s, warning that the results could restated, subject to an audit of option grants, also announced today.â¦
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Visa said on Thursday it has won approval of a registration statement from the U.S. Securities and Exchange Commission, as the world's largest credit card network prepares to go public by early next year.
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Beijing. (Interfax-China) - China will speed up economic restructuring and reform and the adoption of market-based systems. Meanwhile, China will continue to maintain its open-door policies and meeting its
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Colgate-Palmolive (CL:NYSE - news - research) shares gained early Tuesday after the consumer products company announced a restructuring plan, which includes a 12% payroll cut.
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Company has revised its financial forecasts for the current quarter.
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Visa, the world&#39;s largest credit card  network, said on Tuesday it hired Hans Morris from Citigroup  Inc.  to become president of Visa Inc., which is planning  to go public by early next year.
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The U.S. Securities and Exchange Commission on Wednesday took a step toward allowing foreign public companies to choose international accounting standards or U.S. rules when filing data with the agency.
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The government is set to unveil details of changes to capital gains tax (CGT), amid reports of concessions.
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Visa, the world's largest credit card network, on Tuesday said it hired Hans Morris from Citigroup Inc.  to fill the new position of president of Visa Inc., which is planning to go public by early next year.
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(InfoWorld) - Software vendor CA expects to continue restructuring its operations, which is likely to result in further reductions in its headcount, according to the company's CFO. "We do anticipate some additional restructuring in fiscal 2008," CA CFO Nancy Cooper said during a Wednesday conference call with analysts to discuss the company'sÂ financial results for the fourth quarter. During the quarter, which ended March 31, 2007, CA completed the cutting of 1,700 jobsÂ first outlined in August. On its Web site, CA puts its total workforce as of March 31, 2006, at around 16,000. Cooper wouldn't be drawn on specifics except to note that CA believes there are still more areas in its business where the vendor could make "additional efficiencies." The company is hoping to begin fiscal 2009 having realized some $200 million in annualized savings, she said, which would come from further restructuring. "We're really systematically trying to go through our business to see if we can run it more efficiently," Cooper said. For instance, CA has been working to move its European operations away from being run on an individual per-country basis in favor of a more regional organization. That kind of thinking could also be applied to other areas of CA's business so they run in a more global fashion, she added. CA plans to work in general terms on improving its international business, according to John Swainson, the company's president and CEO. In the fourth quarter of fiscal 2007, while total North American revenue rose 6 percent, revenue from CA's international operations fell by around 2 percent. The company has already made significant management changes in Europe, its largest business outside of the U.S., Swainson said on the conference call, and he expects those changes to bear fruit shortly in terms of improvements in revenue. Swainson reiterated his oft-repeated belief that transformation at CA is "a multiyear process," but he added that the company has made progress on several fronts over the past two years, notably in boosting the productivity of its salesforce to win more software and services business. "There's clear evidence that customers and partners are seeing CA as a different company and someone they want to partner with," he said. Swainson expects the vendor's business service optimization and enterprise systems management software operations to continue to perform strongly and for both its security and storage software businesses to rebound and begin to grow again.ADVERTISEMENTIBM Information On Demand 2006Industrial Industry Leaders, please join us at IBM's premier information management global event, IBM Information On Demand 2006, October 15-20, Anaheim, CA. More IBM business and technical solutions content in one place than ever before! Select from  over 800 sessions. Register today!
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Symbol Technologies Inc. said Monday it would revise previously reported revenue and earnings per share figures for the first nine months of 2004, following the discovery of discrepancies in reported inventory levels.
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In a move that IAC/InterActive Corporation (Nasdaq: IACI) says will improve the company&#39;s outlook by investors, it plans to spin off its travel websites.
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Citigroup Inc. , the world's largest financial services company, on Friday said it will simplify its business structure and streamline its capital markets activities.
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Business software maker Oracle  Corp. ORCL.O on Friday said it will release its  second-quarter earnings before U.S. markets open on Monday,  instead of Thursday, due to issues related to its takeover bid  for PeopleSoft Inc. that may come up in court later on Monday.
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(InfoWorld) - Novell has begun an internal review to investigate how the company granted stock options to employees in recent years and to assess whether, in the light of the findings, Novell will need to restate any earnings. The software vendor made the announcement Tuesday afternoon as it released third-quarter results for fiscal 2006. Novell cautioned that the results should be considered preliminary financials until it has concluded its voluntary stock options review. The company didn't provide a date as to when it expects those investigations to be complete and so it's possible Novell may need to delay the filing of its third-quarter Form 10-Q to the U.S. Securities & Exchange Commission (SEC). On a conference call with analysts, Ronald Hovsepian, president and chief executive officer of Novell, said the review was "in no way a reflection on the quality of our business or the future growth prospects." Novell will report on the progress of the investigation as appropriate. "In the meantime, it's full speed ahead with building our business and executing on our strategy," he added. Novell's move comes as the SEC continues to widen its probe into potentially fraudulent stock options practices occurring now or in the past at U.S. companies and related to the backdating of options. By timing the granting of options to a low point in a company's stock, an options recipient could buy shares cheaply and then resell them for a greater profit once the vendor's share price rose. Already the SEC investigation has touched a number of IT companies including Sycamore NetworksÂ and the SEC has filed securities fraud chargesÂ against the former managementÂ heads ofÂ software vendor Comverse TechnologyÂ and storage networking firm Brocade Communications Systems. Other IT vendors including Apple Computer, CA Inc., McAfee, and RambusÂ have identified irregularities in their options accounting which, in some cases, led to the companies restating financial results dating back several years. Novell's preliminary third-quarter results saw the company reporting net income of $11.6 million on revenue of $241.3 million and earnings per share (EPS) of $0.03. For the fourth financial quarter due to end Oct. 31, Dana Russell, Novell's interim chief financial officer, estimated the company's revenue will be between $246 million and $256 million with an EPS of $0.04. Those predictions don't take account of the findings of the stock options review, he noted, with the likely impact of that investigation knocking EPS down to $0.01. Russell said Novell's leadership isn't happy with the company's current overall level of profitability, but believes it's on "the right track for the health of the business," expecting long-term profitability to improve.