Business

HP to cut 27,000 jobs to save up to $3.5B annually

MICHAEL LIEDTKE, AP Technology Writer

SAN FRANCISCO (AP) — Hewlett-Packard Co. plans to cut 27,000 jobs as the growing popularity of smartphones, the iPad and other mobile devices makes it tougher for the company to sell personal computers. The cuts announced Wednesday represent... Full story

Group wants to regulate reloadable prepaid cards

By Jim Puzzanghera, Los Angeles Times

WASHINGTON - The consumer financial watchdog is taking aim at reloadable prepaid cards, moving to regulate a fast-growing product that has become a popular alternative to checking accounts for lower-income Americans and a new source of fees for ... Full story

UTB business school wins international accreditation

By STEVE CLARK/The Brownsville Herald

The School of Business at the University of Texas at Brownsville has checked off a very important item on its “to do” list: Accreditation by the Association to Advance Collegiate Schools of Business International. As business school accr... Full story

Yahoo to sell half of its Alibaba stake for $7.1B

KELVIN CHAN, AP Business Writer

HONG KONG (AP) — Struggling Internet company Yahoo Inc. has secured a lifeline after agreeing to sell half of its prized stake in Chinese e-commerce group Alibaba for about $7.1 billion, with most of the cash going to shareholders. The deal,... Full story

Facebook's Mark Zuckerberg changes status to 'Married'

MARCUS WOHLSEN, Associated Press

SAN FRANCISCO (AP) — A day after the historic Facebook IPO, founder and CEO Mark Zuckerberg updated his status Saturday to "married." Zuckerberg wed 27-year-old Priscilla Chan, his girlfriend of nearly a decade, according to a guest author... Full story

Brownsville Herald sold to Texas newspaper company

THE BROWNSVILLE HERALD

BROWNSVILLE - The Brownsville Herald, along with the rest of the Texas daily and weekly newspapers owned by Freedom Communications Inc., has been sold to AIM Media Texas LLC, a company that will be headquartered in McAllen and was put tog... Full story

Facebook falls flat in public debut

BARBARA ORTUTAY, AP Technology Writer

NEW YORK (AP) — After all the hype, Facebook's first day as a public company ended where it began. In its much-anticipated debut on the Nasdaq Stock Market, Facebook's stock closed Friday at $38.23, up 23 cents. It had been priced at $38 per... Full story

Hospital opens state-of-the-art cardiac catheterization labs

By STEVE CLARK/The Brownsville Herald

With the recent opening of state-of-the-art cardiac catheterization labs in Brownsville and Harlingen, Valley Baptist Medical Center has a new, high-tech ally in the treatment of cardiovascular problems. At the heart of the labs is a machine called ... Full story

Garza receives Texas Bankers Foundation award

THE BROWNSVILLE HERALD

Bertha Garza, IBC Bank Brownsville’s first vice president of marketing, was honored by the Texas Bankers Foundation with the 2012 Leaders in Financial Education (LiFE) Individual Recognition Award during the Texas Bankers Association convention in ... Full story

Wal-Mart's 1Q profit up 10.1 percent

ANNE D'INNOCENZIO, AP Retail Writer

NEW YORK (AP) — Wal-Mart Stores Inc. is reporting a 10.1 percent increase in first-quarter profit as the world's largest retailer's re-emphasis on low prices continues to woo back bargain-hungry shoppers in an uncertain economy. Wal-Mart say... Full story

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