Latest International Business Machines Corp News

Chinese buyer of British Steel looks to grow abroad

Nov. 13, 2019 6:03 AM EST

BEIJING (AP) — Jingye Group's purchase of British Steel Ltd. gives the privately owned Chinese steelmaker a chance to grow outside a home market dominated by giant state-owned mills. The deal adds to a string of global acquisitions by Chinese companies that want to speed their growth in industries from...

Pentagon hands Microsoft $10B 'war cloud' deal, snubs Amazon

Oct. 25, 2019 9:06 PM EDT

SAN FRANCISCO (AP) — The Pentagon awarded Microsoft a $10 billion cloud computing contract , snubbing early front-runner Amazon, whose competitive bid drew criticism from President Donald Trump and its business rivals. Bidding for the huge project, known as Joint Enterprise Defense Infrastructure, or JEDI,...

Google claims breakthrough in blazingly fast computing

Oct. 23, 2019 4:01 PM EDT

SAN FRANCISCO (AP) — Google announced Wednesday it has achieved a breakthrough in quantum computing, saying it has developed an experimental processor that took just minutes to complete a calculation that would take the world's best supercomputer thousands of years. The feat could open the door someday to...

Son of Pentagon chief works at company that bid for contract

Oct. 22, 2019 6:14 PM EDT

WASHINGTON (AP) — Defense Secretary Mark Esper has removed himself from decision-making on a cloud computing contract potentially worth $10 billion, citing his son's employment with one of the original contract bidders. In a written statement Tuesday, Pentagon spokesman Jonathan Hoffman said Esper recused...

Asian shares fall back after China reports economy weakened

Oct. 18, 2019 12:00 AM EDT

BANGKOK (AP) — Share prices retreated in Asia after China reported Friday that its economy grew at an annual rate of 6.0% in the latest quarter. The Shanghai Composite index gave up early gains, losing 0.6% to 2,960.55 while Hong Kong's Hang Seng shed 0.2% to 26,800.24. Australia's S&P ASX 200 declined...

Netflix and Alcoa post gains while IBM and Textron decline

Oct. 17, 2019 4:37 PM EDT

NEW YORK (AP) — Stocks that moved substantially or traded heavily on Thursday. Netflix Inc., up $7.07 to $293.35 The streaming video and entertainment company handily beat Wall Street's third-quarter profit forecasts. International Business Machines Corp., down $7.85 to $134.26 The technology company's...

Markets Right Now: Earnings, Britain-Europe deal lift stocks

Oct. 17, 2019 4:10 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks are closing broadly higher on Wall Street as some solid corporate earnings and a breakthrough in negotiations over Britain's exit from the European Union put investors in a buying mood. Companies including...

Asian shares mixed on caution over China-US trade deal

Oct. 17, 2019 1:01 AM EDT

BANGKOK (AP) — Asian shares were mixed Thursday after officials signaled work remains to be done on an agreement for a truce in the tariff war between the U.S. and China. Hong Kong led regional gains after its chief executive, Carrie Lam, announced help for the property sector. The semi-autonomous city's...

Researchers: AI surveillance is expanding worldwide

Sep. 17, 2019 2:43 PM EDT

A growing number of countries are following China's lead in deploying artificial intelligence to track citizens, according to a research group's report published Tuesday. The Carnegie Endowment for International Peace says at least 75 countries are actively using AI tools such as facial recognition for...