IBM adds $5 billion to share buyback programme

REUTERS - 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 criticized 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.

(Reporting by Anya George Tharakan in Bangalore; Editing by Tresa Sherin Morera)