Good Morning
Good Morning

Biz Buzz


CA on Working Mother's list

CA Technologies, the Islandia software maker, has made Working Mother magazine's list of the 100 most family-friendly companies. The magazine has been publishing the list for 27 years, judging companies on their options for child care, maternity leave, flexible schedules and ability to work from home. Working Mother lauded CA, Long Island's largest company by stock market value, for granting employees 11 days a year to care for sick relatives and allowing four fully paid weeks when family members are seriously ill. The company also provides on-site Montessori child care centers. CA has about 1,525 employees on Long Island and close to 14,000 worldwide. -- Joe Ryan


Apple stock tops $700 mark

Apple Inc. stock topped $700 for the first time Tuesday, setting a record for the company the day after it announced that orders for its iPhone 5 topped 2 million in the first 24 hours. The shares closed at $701.91, putting the company's value at $656 billion, more than any public company has ever been worth, if one ignores inflation.

Yahoo, Alibaba close $7.6B deal

Yahoo will live up to its promise to pay its shareholders most of the money from a $7.6-billion deal with the Chinese Internet company Alibaba Group. Yahoo reassured shareholders Tuesday a few hours after Alibaba disclosed it had completed a complex transaction announced four months ago. At that time Yahoo pledged to distribute most of the proceeds to shareholders who have been frustrated with the company's slumping stock price. But Yahoo signaled last month that its new chief executive, Marissa Mayer, might scrap that plan and hold on to the money to finance her ideas for turning the company around. Yahoo estimates shareholders will receive $3.65 billion after taxes.

RIM licenses Microsoft product

BlackBerry maker Research in Motion is licensing technology from Microsoft to let BlackBerry devices store and transfer large files more easily. Under the deal announced Tuesday Microsoft Corp. will license patents to a filing system called exFAT. Microsoft says it improves on older storage systems in dealing with larger files -- such as those used for photos and video. Devices that use flash memory -- namely, smartphones and tablet computers -- will be able to handle files that are five times as large as the limit on older systems. Terms of the patent licensing deal were not disclosed.

Kohl's holiday hiring: 52,700

Kohl's Corp. said Tuesday it expects to hire more than 52,700 people this holiday season, up more than 10 percent from last year. The department store operator anticipates hiring an average of 41 associates per store, up 4 percent from 2011. Kohl's, based in Menomonee Falls, Wis., operates 1,146 stores in 49 states. It also expects to hire 5,700 people for jobs at its distribution centers. A retailer's hiring plans can indicate its expectations for the make-or-break holiday shopping season.

American Airlines cutting jobs

American Airlines is sending layoff warning notices to more than 11,000 employees although a spokesman says the company expects job losses to be closer to 4,400. The notices went out to mechanics and ground workers whose jobs will be affected as American goes through a bankruptcy restructuring. American Airlines spokesman Bruce Hicks said Tuesday that less than 40 percent of those getting notices will actually lose their jobs. Hicks said federal law requires the company to notify anyone whose position could change including those who could get "bumped" by more-senior employees whose jobs are eliminated or outsourced. American parent AMR Corp. filed for bankruptcy in November.-- AP

More news