Morning business headlines
Monday, August 12, 2013 11:11 AM
With IPOs on the rise, analysts get new scrutiny
The New York Times reports that the market for initial public offerings has made a comeback, surging to levels not seen since before the financial crisis. At the same time, concerns have resurfaced over the role of Wall Street research analysts in these lucrative deals.
Apple set to unveil next iPhone; BlackBerry explores sale
Reuters reports that Apple Inc. is expected to present its redesigned iPhone in September, according to technology blog AllThingsD. In other tech news, CNN Money reports that BlackBerry's board of directors is exploring the option of selling the company.
GM plans gradual pullout of S.Korea as labor costs surge
Reuters reports General Motors Co. has begun gradually cutting its presence in South Korea. This comes after mounting labor costs and militant unionism caused the company to rethink its reliance on the country for a fifth of its global production, three individuals familiar with GM's thinking said.