Busi­ness

The Washington Post Sunday - - TAKING STOCK -

Dell is go­ing pri­vate in a $24.4 bil­lion lever­aged buy­out that sig­nals the wan­ing of the per­sonal-com­puter in­dus­try it once dom­i­nated. Michael Dell is tak­ing back ma­jor­ity con­trol of the com­pany, wa­ger­ing that he can more ef­fec­tively trans­form Dell into a provider of a broad range of prod­ucts for cor­po­ra­tions out­side the scru­tiny of pub­lic in­vestors, even while en­cum­ber­ing it with about $17 bil­lion in ad­di­tional debt. UBS owes noth­ing to former U.S. clients who filed a law­suit claim­ing that the largest Swiss bank had a duty to in­form three former clients they had to de­clare their ac­counts to the IRS and pay any taxes owed, a court ruled. Van­guard Group, the big­gest U.S. mu­tual fund firm, at­tracted a record $24.3 bil­lion from clients in Jan­uary, mostly into stocks, as signs of an im­prov­ing U.S. econ­omy have prompted in­vestors to re­turn to eq­ui­ties. Jan­uary’s de­posits were more than 40 per­cent above the pre­vi­ous monthly record of $16.8 bil­lion, achieved in the same month a year ago. Royal Bank of Scot­land Group, fined $612 mil­lion for ma­nip­u­lat­ing bench­mark in­ter­est rates, plans to claw back three-quar­ters of the money from bonuses and awards al­ready paid to the firm’s em­ploy­ees. The Washington Post Co. signed an agree­ment to sell the Everett ( Wash.) Her­ald, a daily news­pa­per it has owned since 1978, to Black Press of Canada and its U.S. sub­sidiary Sound Pub­lish­ing for an undis­closed amount. The Post Co. also said last week that it will sell two ship­ping ter­mi­nals in Old Town Alexan­dria and con­sider the sale of its head­quar­ters build­ing in North­west Washington. Lockheed Martin, based in Bethesda, plans to elim­i­nate up to 350 mid-level man­ager po­si­tions through vol­un­tary lay­offs over the next few months. Home De­pot plans to add more than 80,000 tem­po­rary work­ers ahead of its busiest sea­son, about 14 per­cent more than a year ago, as a hous­ing re­bound spurs spend­ing on re­mod­el­ing.

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