Apple and International Business Machines will work together to create business software for iPhone and iPad users, setting aside a three-decade-old rivalry to cater to an increasingly mobile workforce.
IBM’s staff will sell Apple devices to its business customers, and the two companies will work together to develop applications tailored to work with IBM’s data analytics and cloud services, the companies said Tuesday. Apple also will offer customer-service support for the apps.
The partnership helps Apple pursue a bigger slice of the market for corporate users of smartphones and tablets. Working with its erstwhile foe also may help IBM chase other technology giants — including Apple — that have done a better job seizing on the mobile-computing boom.
With the deal, Apple gains a large sales force that will push its mobile devices to companies, while IBM, whose sales have been stagnating, adds the cachet of being partners with one of the best-known and most popular consumer-electronics brands.
“We really recognized almost simultaneously that we could be uniquely helpful to one another’s strategy and that there was literally no overlap,” Bridget Van Kralingen, IBM’s senior vice president of global business services, said in an interview. “It’s moved incredibly quickly and smoothly.”
The partnership, which was six months in the making, will offer services geared at security, mobile device management and big data and analytics. More than 100 apps targeting industry-specific issues in retail, health care, banking, travel, transportation and telecommunications will be released, IBM said.
Yahoo said it has to sell fewer Alibaba Group shares than previously expected in the Chinese e-commerce company’s market debut, helping to offset the U.S. company’s worse-than-expected results Tuesday.
Shares of Yahoo rose 10 cents to $35.75 in after-hours trading.
Yahoo said Alibaba has agreed to its request to reduce the maximum number of shares it sells in the Chinese company’s upcoming initial public offering from 208 million to 140 million.
Yahoo owns a roughly 24 percent stake in Alibaba, which is expected to list its shares on the New York Stock Exchange later this year in what could be the largest-ever U.S. technology IPO.
Yahoo’s net revenue, which excludes fees paid to partner Web sites, decreased 3 percent year-on-year to $1.04 billion in the three months ended June 30. Analysts were looking for net revenue of $1.084 billion.
● Norman Bay and Cheryl LaFleur won Senate confirmation to serve on the Federal Energy Regulatory Commission, overcoming opponents who said Bay was too inexperienced. Bay won Senate approval by a vote of 52-to-45, and LaFleur was confirmed by a 90-to-7 vote. In a deal that Senate Democrats brokered with the White House, LaFleur will remain as acting chair of the five-person commission for nine months. FERC Enforcement Director Bay, President Obama’s choice to be chairman, will succeed LaFleur in the top post after serving as a commissioner.
● The Equal Employment Opportunity Commission has updated 30-year-old guidelines to make clear that any form of workplace discrimination or harassment against pregnant workers by employers is a form of sex discrimination and illegal. The guidelines prohibit employers from forcing pregnant workers to take leave and acknowledge that “employers may have to provide light duty for pregnant workers.” After childbirth, lactation is now covered as a pregnancy-related medical condition.
● The leaders of five emerging market powers said at a summit in Fortaleza, northeastern Brazil, that they agreed to create a development bank worth $100 billion that will have its headquarters in China. The first president of the New Development Bank will be from India, and the position will rotate every five years among Brazil, Russia, India, China and South Africa, the so-called BRICS nations, a joint statement from the leaders said.
● Warren E. Buffett donated $2.8 billion of Berkshire Hathaway stock to five charities as part of the billionaire’s plan to give away nearly all of his wealth. Buffett donated about 21.73 million Class “B” shares of Berkshire, a regulatory filing showed. About 16.6 million shares, worth more than $2.1 billion, went to the Bill and Melinda Gates Foundation, which focuses on education, health and poverty problems. The remainder went to four family charities.
From news services
● 8:30 a.m.: Producer price index for June.
● 9:15 a.m.: Industrial production for June.
● 2 p.m.: Beige book.
● Earnings: Bank of America, eBay, Yum Brands.