IBM Stops Offering Cash-Balance Pension
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International Business Machines Corp., taken to court by workers over changes it made to its traditional pension plan, has decided to stop offering any such plan to new employees.
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One of Britain's biggest property funds shuts its doors to withdrawals after panic selling
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International Business Machines Corp.  IBM.N has settled for an undisclosed sum part of a  potentially multi-billion-dollar lawsuit over its pension plan,  a Wednesday court filing shows.
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JP Morgan Chase &amp; Co., the country&#39;s second-largest bank, announced yesterday that it was ending a $5 billion outsourcing contract with IBM Corp.
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J.P. Morgan Chase & Co. JPM.N said  on Wednesday it was canceling a $5 billion outsourcing deal  with IBM Corp., IBM.N and planned to rehire about 4,000  workers who had been transferred to IBM under the pact.
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IBM will pay out $320 million to settle part of a class-action lawsuit relating to its pension plan. The settlement does not, however, address the critical issue of whether the companyâs controversial cash
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Chinese computer maker Lenovo suspends trade in its shares in Hong Kong as reports link it to $2bn deal for IBM's PC  business.
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IBM is considering pulling out of the personal computer business it founded - a sign of a big change in the way companies buy computers and a shift of power in the PC industry.
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IBM said yesterday that it had agreed to pay $320 million to current and former employees to settle in part a class-action lawsuit over its pension plan in a case that may affect millions
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IBM is exiting the PC business, but it -- along with some PC competitors -- should benefit.
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US computer giant IBM blames a $320m pension lawsuit settlement as it reports flat third quarter profits.
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WASHINGTON  - J.P. Morgan Chase & Co.  said on Wednesday it was canceling a $5 billion outsourcing deal with IBM Corp.,  and planned to rehire about 4,000 workers who had been transferred to IBM under the pact.
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JP Morgan Chase &amp; Co. said Wednesday it was canceling a $5 billion outsourcing deal with IBM Corp. and planned to rehire about 4,000 workers who had been transferred to IBM under the pact.
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IBM Corp. said Wednesday it has agreed to pay $320 million in retirement benefits to settle part of a class-action lawsuit and another $1.
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JP Morgan Chase (JPM:NYSE - news - research) and IBM (IBM:NYSE - news - research) are getting a divorce, ending a $5 billion computer outsourcing deal just two years after it began.
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(InfoWorld) - IBM sold off a chunk of its stake in Lenovo Group, leading the world's third-largest PC vendor to temporarily suspend trading of its shares in Hong Kong on Tuesday. Lenovo spokeswoman Angela Lee said IBM had informed the company it planned to sell a large block of shares but had not provided specific details of the transaction. IBM did not immediately respond to a request for comment. "The trading of Lenovo's shares has been suspended at our request, pending the release of an announcement ... relating to the placing of Lenovo's shares by IBM," Lee said. At 2:40pm local time Tuesday afternoon, trading of the company's shares remained suspended. IBM did not respond to a request for comment. Lenovo's shares were trading at HK$3.20 (US$0.41) per share when they were suspended, a drop of 7 percent from the previous day's close. That price matches the reported selling price IBM received for its shares, which were offered to investors at a discount, according to several press reports Tuesday. Citing information offered to investors, those reports said IBM sold 300 million shares in Lenovo Group in a sale worth HK$960 million (US$123 million). IBM, whichÂ sold its PC division to LenovoÂ in 2005, has gradually reduced its stake in Lenovo since that deal. A further sale of shares would be in keeping with the company's stated plan to sell down its stake in Lenovo. Prior to the reported sale, IBM held a 13.2 percent stake in Lenovo, making it the company's second-largest shareholder. The sale of shares -- estimated at 3.5 percent of Lenovo's total shares -- will reduce IBM's holdings to 9.7 percent of the company. While IBM reduces its stake in Lenovo, the two companies remain close partners. Lenovo Tuesday announced the signing of a five-year agreement forÂ IBM to provide technical support, installation, deployment and other PC-related services to its customers. The deal could be worth up to US$245 million to IBM, Lenovo said in a filing to the Hong Kong stock exchange. Â
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International Business Machines, better known as (IBM), will cease producing their personal computer (PC) production activities. According to the news of New York Times, the strongest candidate to buy the