COMPANIES

Investment bank Morgan Stanley plans to tell employees this week that bonuses will drop, with cash payouts capped for now at $125,000, The Wall Street Journal reported on Monday.

Wal-Mart Stores Inc on Sunday named Neil Ashe as the new president and chief executive of its global eCommerce business as the world's largest retailer in a move to bolster its online presence.

Accounting groups KPMG and Ernst & Young have been cleared of responsibility for a $1.7 billion accounting fraud at Japan's Olympus Corp, one of the nation's worst corporate scandals, in a report issued on Tuesday by a company-appointed panel of lawyers.

Accounting groups KPMG and Ernst & Young have been cleared of any responsibility for a $1.7 billion accounting fraud at Japan's Olympus Corp, one of the nation's worst corporate scandals, in a report issued on Tuesday by a panel of lawyers appointed by the company.

Venezuela's Oil Minister Rafael Ramirez said on Sunday his country intends to exit the World Bank's arbitration hearing against ExxonMobil.

More than a dozen of the biggest technology companies including IBM, Cisco Systems and SAP formally announced a new standards-setting committee for the emerging sector of cloud computing.

Despite the bankruptcy of Hostess Bakeries, the Twinkie brand still has enormous equity and could be a valuable asset to a new Hostess or an acquirer, venerable brand expert Clive Chajet told International Business Times.

Tablet computer makers have had a hard time keeping up with Apple's iPad 2, but now Apple will try to outdo itself with the iPad 3 this March. Apple hasn't announced anything yet, but reports out of China show Apple's component suppliers are producing new parts for a March release.

Pembina Pipeline Corp (PPL.TO: Quote) agreed on Monday to buy Provident Energy Ltd (PVE.TO: Quote) for C$3.24 billion ($3.16 billion) in an all-stock deal that will create one of Canada's biggest pipeline and natural gas processing companies.

WestJet Airlines Ltd may launch a short-haul airline as early as next year to serve smaller cities and towns in Canada, a challenge to its main rival Air Canada in a market that analysts say has room for a competitor.

ConocoPhillips is said to be in talks with the sub-continent oil company, and could sell some of its land leases in South Texas.

Former Chief Executive Officer Frank Dunn, former Chief Financial Officer Douglas Beatty and former Controller Michael Gollogly are accused of altering financial results for the telecommunications company in order to reap millions of dollars in bonuses.

Hackers disrupted online access to the Tel Aviv Stock Exchange, El Al Airlines and three banks on Monday in what the government described as a cyber-offensive against Israel.

Applications such as textPlus and Kik could eventually end carriers' reliance on revenue from traditional text messaging.

Internet giants Google and Facebook told the Delhi High Court on Monday that it is not possible for companies to block offensive content that appears on their websites, in a case that has stoked fears about censorship in the world's largest democracy.

Online shoe and apparel retailer Zappos was hacked Sunday and the Amazon-owned company is asking its customers to change their login credentials, as 24 million of its users' data was stolen in the hack. In response to the hack, Zappos posted password reset instructions and security tips of its Web site to give insight into how customers can protect their accounts.

The cruise ship industry faces an uphill task to restore confidence among customers spooked by spectacular images of the stricken Costa Concordia flipped on its side and could suffer a major hit to sales in a key booking period.

“If I Die” has become a major sensation on the most popular social networking in the World.

Top executives from India's major power companies will meet Prime Minister Manmohan Singh on Wednesday to push for swifter action to improve access to coal and make it easier to get funding, acquire land and get environmental clearances.

FBR Capital Markets has lowered its profit estimates of Microsoft Corp. (NASDAQ:MSFT), citing lower PC shipments.

Thousands of Chinese workers protesting over compensation and job security at a Sanyo Electric Co Ltd plant clashed with police in southern Shenzhen, media said on Monday, the latest outbreak of labor unrest in China's manufacturing hub.

Zappos, the online shoe and apparel retailer, urged its customers to change the password to their accounts, amid fears a cyber attack on the company's servers may have compromised names, e-mail and billing addresses, phone numbers and the last four digits of the credit cards of their 24 million customers.

Microsoft's Xbox 720 and Sony's PlayStation 4 are the two gaming consoles that have been heavily discussed on the Internet over the last few months.

We've spent over 12 years building our reputation, brand, and trust with our customers, said Hsieh in an apologetic note. It's painful to see us take so many steps back due to a single incident. I supposed the one saving grace is that the secure database that stores our customers' critical credit card and other payment data was not affected or accessed, the CEO added.

Toy specialist “Re:creation” will be showing off its Halo 4 line-up of die-cast vehicles and characters.

Microsoft Corp is starting the new year much as it did the one just ended - grappling with weak computer sales tearing a hole in its core Windows business, while it gropes its way slowly into the faster-growing mobile phone and tablet markets.

Toshiba is set to propose an equity tie-up with scandal-hit camera and medical equipment maker Olympus Corp , an industry newspaper said on Monday.

The sudden departures of two energy industry chief executives this week should serve notice to their counterparts that corporate boards and the shareholders they represent are no longer willing to tolerate weak management.

Now that 153,000 people have exhausted themselves at the 2012 International Consumer Electronics Show in Las Vegas, an American visitor can't help thinking that the future of electronics is in Asia, not California's Silicon Valley or Texas.