Lyndsey Johnson
This escalator is one way Rackspace honors its HQ’s roots as a mall.
- Mike W. Thomas
- Reporter- San Antonio Business Journal
- Email | Twitter | Google+ | Facebook
The Take is a recurring blog featuring a daily rundown of news and views of interest to San Antonio.
Private buzz
Rackspace shares rose 6 percent Wednesday following reports that the web hosting and cloud computing firm is considering taking itself private.
The technology blog TechCrunch reported that Rackspace has been in talks with equity investors about raising capital for a deal to take the firm off the public market. The report, based on unconfirmed sources, followed weeks of speculation about a possible acquisition deal for Rackspace. The report said an announcement could come before the holiday weekend.
Rackspace announced in May that it had retained investment banker Morgan Stanley to look into strategic options including a possible acquisition.
More jobs
The U.S. economy added 288,000 jobs in June and the unemployment rate fell to a nearly six-year low of 6.1 percent, according to the U.S. Labor Department.
Economists surveyed by MarketWatch had expected an increase of 215,000 nonfarm jobs.
Employment gains for May and April were also revised up by a combined 29,000.
The strong report could force the Federal Reserve to raise interest rates sooner than expected unless growth slows back down.
Average hourly wages rose 6 cents, or 0.2 percent, to $24.45. Wages are up 2 percent over the past 12 months.
So far in 2014 the economy has gained an average of 231,000 jobs a month, 19 percent faster than the 2013 pace of 194,000.
Shrinking trade gap
Strong domestic oil production helped to shrink the nation’s trade deficit 5.6 percent in May, according to the U.S. Commerce Department.
Mike W. Thomas covers technology/telecom, military, finance, regulatory issues as well as nonprofits/education….
Lyndsey Johnson
This escalator is one way Rackspace honors its HQ’s roots as a mall.
- Mike W. Thomas
- Reporter- San Antonio Business Journal
- Email | Twitter | Google+ | Facebook
The Take is a recurring blog featuring a daily rundown of news and views of interest to San Antonio.
Private buzz
Rackspace shares rose 6 percent Wednesday following reports that the web hosting and cloud computing firm is considering taking itself private.
The technology blog TechCrunch reported that Rackspace has been in talks with equity investors about raising capital for a deal to take the firm off the public market. The report, based on unconfirmed sources, followed weeks of speculation about a possible acquisition deal for Rackspace. The report said an announcement could come before the holiday weekend.
Rackspace announced in May that it had retained investment banker Morgan Stanley to look into strategic options including a possible acquisition.
More jobs
The U.S. economy added 288,000 jobs in June and the unemployment rate fell to a nearly six-year low of 6.1 percent, according to the U.S. Labor Department.
Economists surveyed by MarketWatch had expected an increase of 215,000 nonfarm jobs.
Employment gains for May and April were also revised up by a combined 29,000.
The strong report could force the Federal Reserve to raise interest rates sooner than expected unless growth slows back down.
Average hourly wages rose 6 cents, or 0.2 percent, to $24.45. Wages are up 2 percent over the past 12 months.
So far in 2014 the economy has gained an average of 231,000 jobs a month, 19 percent faster than the 2013 pace of 194,000.
Shrinking trade gap
Strong domestic oil production helped to shrink the nation’s trade deficit 5.6 percent in May, according to the U.S. Commerce Department.
Mike W. Thomas covers technology/telecom, military, finance, regulatory issues as well as nonprofits/education.