6 Stories

Glitch Torpedoes Food Stamps in 17 States

Xerox said it had restored service by last night

(Newser) - You might think that the nation's food stamps program finds its biggest threat in the House of Representatives , but yesterday it was an innocent test of a backup system that felled the system in 17 states, including Ohio and Michigan. The system failure that began yesterday morning took out... More »

Rise in Mergers Signals Fresh Confidence

Chief execs becoming more bullish about recovery prospects

(Newser) - Mergers and acquisitions activity is still way down from pre-financial crisis levels, but a recent flurry of big deals suggests America's chief executives are regaining confidence in their own businesses. Recent mergers have involved strategic buys by big companies instead of the debt-fueled private equity buys seen a couple of... More »

Dow Up 124 on Revitalized M&A

Xerox, J&J announce new acquisitions

(Newser) - High-profile deals breathed fresh life into stocks today, snapping a 3-day losing streak. Xerox will buy outsourcing company Affiliated Computer Services for $6.4 billion, and Johnson and Johnson bought biotech firm Crucell for $442.7 million. Barring sharp losses in the days ahead, this quarter will have seen the... More »

Xerox CEO Shuffle Historic for Women

First female-to-female handoff at big firm; first black woman in role

(Newser) - The announcement that Ursula Burns will replace Anne Mulcahy as head of Xerox is brimming with historical significance, writes Patricia Sellers in Fortune. Not only is it the first woman-to-woman CEO handoff in Fortune 500 history, but Burns will be the first black woman to head a Fortune 500 company.... More »

Dow Dives Below 8,000

Dow sees big-time dip

(Newser) - Stocks took a dive at the open, following big losses in Europe and more lousy earnings reports, the Wall Street Journal reports. The Dow tumbled 210 points to below 8,000, while the Nasdaq and S&P dove 2.1% and 2.6% respectively. Financials came under renewed pressure, with... More »

What Happened to the Paperless Office?

Still, huge financial incentives to cut down have wheels in motion

(Newser) - More than 30 years after Xerox guru George Pake predicted a "paperless office" by 1995, the dream is as elusive as ever. That's because the very computers that made paper theoretically obsolete, BusinessWeek notes, also brought us printers and copiers on practically every desktop. "The decision to print... More »

6 Stories