IBM Adds $5 Billion to Share Buyback Programme

IBM Corp said its board had approved a $5 billion share buyback in addition to the $1.4 billion remaining from its existing programme.

The company has been criticised for pursuing buybacks at the expense of investment in new technology.

IBM spent $13.5 billion to repurchase stock in the first nine months of the year, more than double its net income.

Copyright @ Thomson Reuters 2014