IBM cuts schools a break on $5M debt
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A San Francisco Bay-area school district that pressed IBM Corp. to rip up an old $5 million debt didn't get its wish, but the technology company has agreed to let the repayment be stretched out over eight years instead of four.
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Computer Associates International Inc.  CA.N will lay off about 5 percent of its work force in an  attempt to cut costs, the Wall Street Journal reported on  Wednesday.
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Computer Associates International Inc. will lay off about 5 percent of its work force in an attempt to cut costs, the Wall Street Journal reported on Wednesday.
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ENDICOTT, N.Y., June 15  /PRNewswire-USNewswire/ -- In response to job cuts, job shifting to low cost countries and declining working conditions at IBM Corp.
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By BRIAN BERGSTEIN BOSTON - IBM Corp. disclosed Tuesday that it is taking on $11.5 billion in new debt to finance the aggressive accelerations of its stock repurchase plan, which appears to be one of the largest such steps ever.
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InfoWorld - IBM sold off a chunk of its stake in Lenovo Group, leading the world&#39;s third-largest PC vendor to temporarily suspend trading of its shares in Hong Kong on Tuesday.
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IBM Corp., the world&#39;s largest computer maker, said it is selling versions of its top supercomputer that may be scaled down for businesses and less-intensive scientific use.
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Computer Associates International announced on Wednesday that it plans to cut 5 percent of its work force as part of a restructuring effort, a move that comes as the company seeks to rebuild itself after a long-running accounting scandal.
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Investor's Business Daily - IBM on Wednesday took the wraps off a new design it has developed for faster memory on chips, which should make video games peppier and networks zippier.
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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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IBM Corp. lost one of its highest-profile outsourced-IT clients on Wednesday, as JPMorgan Chase & Co. said it is canceling the remaining portion of a contract that was intended as a seven-year, $5 billion deal.
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Ana G. Mendez University System has chosen IBM (NYSE: IBM) to develop and install a system that allows students to pay tuition and fees faster and easier.
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IBM said Monday that it won a Â£500 million (AUD$1.25 billion), seven-year services contract to help move UK bank Lloyds TBS from its traditional voice infrastructure to a converged voice and data network.
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&quot;IBM plans to announce on Monday that the Blue Gene will be available immediately with a starting price of $1.5 million.&quot;.
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Surging corporate profits -- and another big increase in corporate tax collections -- will shrink the federal budget deficit to its smallest number in five years, according to new White House estimates, which show the deficit falling to $205 billion in the fiscal year that ends in September.
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IBM's personal computer business racked up $965 million in losses between Jan. 1, 2001, and June 30, 2004, the company said last week in a filing to the U.S. Securities and Exchange Commission, detailing the planned sale of the business to China's Lenovo Group.
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Expanding waistlines are squeezing the bottom line of the nation&#39;s schools, as poor eating and exercise subtly strip money from education, a new study suggests.