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Business

Apple Replaces HP on Fortune Top 10

Apple replaced Silicon Valley's previous top 10 tech entry, Hewlett-Packard, which fell steeply while recording the biggest loss of any company to make the Fortune 500 in 2013.

Walmart Retakes Top Slot on Fortune 500

Retail chain Walmart retook its spot at the top of the Fortune 500 list, while Apple made it into the top 10 and Facebook made the list for the first time, the magazine said Monday.

Bain Leads BMC Buyout

BMC Software said it will be acquired by a private investor group led by Bain Capital and Golden Gate Capital in a transaction valued at $6.9 billion, or $46.25 per share in cash.

Adobe Reaffirms Financial Targets

Adobe Systems reaffirmed the second quarter and fiscal year 2013 financial targets that it provided on March 19.

Tax Credits Spur Investment in Distressed Communities

The U.S. Treasury Department announced a $405 million tax-credit authority for California community development entities under the New Markets Tax Credit program.

Arizona Investors Snapping Up Distressed Property in Tucson

The Tucson and Phoenix markets have become hot markets for investors looking to buy distressed properties.

Automotive Industry Notes

Coda Automotive may have declared bankruptcy but in general the U.S. industry has been going strong.

Rising Economy Isn't Lifting Wages

Stock markets and corporate profits are breaking records. The economy suddenly looks brighter after the government's surprising report Friday that employers added 635,000 jobs the past three months.

Home Prices Near New Highs in Some Markets

Home prices in 10% of the nation's top 200 housing markets have recently hit new peaks or are only a hair away, new data show.

Calif.'s Prop. 13 Loophole Gives Big Players an Edge

Businesses can easily -- and legally -- avoid property tax hikes under the California's Prop. 13, which passed in 1978. As a result, the state loses tens of millions of dollars in revenue each year, officials estimate.

LinkedIn Earnings, Revenue Climb

LinkedIn Corp. continued its uninterrupted streak of beating analysts' expectations with its quarterly results on Thursday as earnings and revenue soared, but its outlook for the rest of the year disappointed Wall Street.

Fed's Lacker Anticipates 2% Growth Rate for U.S. Economy

The U.S. economy is likely to grow at around a 2 percent annual rate for the foreseeable future, and additional monetary stimulus by the Central Bank is likely to have little effect on that growth, the president of the Federal Reserve Bank of Richmond said Friday.

Job News Boosts Markets

A largely positive U.S. jobs report sent the stock market soaring as the Dow Jones industrial average traded above 15,000 for the first time before closing just below the mark and the broader Standard & Poor's 500 index closed at a record 1,614.

Ray Irani Leaves Occidental Petroleum

Irani has withdrawn as a nominee to serve a new term on Occidental's board, and was absent from Friday's shareholder meeting in Santa Monica.

Regulators Accuse JPMorgan of 'Manipulative Schemes'

U.S. financial investigators have accused the country's biggest bank of a range of potentially fraudulent acts, including using manipulation to increase profits in the energy market.