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Merck posts big Q1 profit jump on lower charges

Apr 27, 2012

By LINDA A. JOHNSON, Associated Press

Drugmaker Merck & Co. said Friday that its first-quarter profit jumped 67 percent despite lower-than-expected sales, due to lower spending on production, marketing and research as well as an arbitration charge a year ago.

The maker of Singulair for asthma and ...

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Finnair Q1 loss narrows on strong revenue growth

Apr 27, 2012

By MATTI HUUHTANEN, Associated Press

HELSINKI (AP) — Finnair PLC said Friday that first-quarter net loss narrowed by 40 percent to €20.4 million ($27 million) thanks to strong growth in revenue, mainly in Europe.

Despite heavy competition from budget airlines, the Finnish national carrier ...

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Amer Sports upbeat as Q1 profit hits $25 million

Apr 27, 2012

By MATTI HUUHTANEN, Associated Press

HELSINKI (AP) — Global sports equipment maker Amer Sports Corp., whose brands include Atomic, Salomon and Wilson, saw first-quarter net profit grow slightly to €18.7 million ($24.7 million) on strong sales of sports clothes.

The Helsinki-based company said ...

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Italy pays higher yields in pair of bond auctions

Apr 27, 2012

MILAN (AP) — Italy was forced to pay higher interest rates Friday to entice investors to buy a little under €5 billion ($6.6 billion) worth of its 5- and 10-year bonds as jitters over Europe's debt problems have resurfaced.

Investors demanded yields of 5.84 percent on the 10 year-bonds, compared ...

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Geithner asks China to let its currency strengthen

Apr 27, 2012

By TERENCE CHEA, Associated Press

SAN FRANCISCO (AP) — Ahead of a meeting with Chinese leaders, Treasury Secretary Timothy Geithner is urging the Asian nation to let its currency strengthen and move forward with economic reforms.

The treasury secretary said Thursday that the Obama administration ...

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Libya helps give Italy's Eni a Q1 profit boost

Apr 27, 2012

By COLLEEN BARRY, Associated Press

MILAN (AP) — Italy's largest energy company Eni SpA said Friday that its first-quarter profits rose 42 percent on increased production in Libya and higher prices.

The Rome-based company said net profit for the first three months of 2012 was €3.62 billion ($4.78 ...

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Spain crisis deepens with jobless rise, downgrade

Apr 27, 2012

By DANIEL WOOLLS and PAN PYLAS, Associated Press

MADRID (AP) — The hole in Spain's economy is getting deeper.

The government reported Friday that unemployment rose to 24.4 percent in the first quarter — compared with 22.9 percent in the fourth quarter — and that more than half of Spaniards under ...

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Petrochemicals dent profit at France's Total in Q1

Apr 27, 2012

By SARAH DiLORENZO, Associated Press

PARIS (AP) — French oil company Total saw its revenues grow strongly in the first quarter of the year but said Friday that a drop in European demand for petrochemicals hit profits.

While energy prices have soared amid unrest in the Middle East and tension in ...

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Honda quarterly profit jumps on improved sales

Apr 27, 2012

By YURI KAGEYAMA, Associated Press

TOKYO (AP) — Honda's January-March profit jumped 61 percent as the Japanese automaker sold more cars and motorcycles in a turnaround from a disaster-battered 2011. It forecast record global sales of 4.3 million vehicles for this fiscal year.

Honda Motor Co.,

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Daimler Q1 net rises 20 percent, Mercedes slips

Apr 27, 2012

FRANKFURT, Germany (AP) — Automaker Daimler AG says net profit rose 20 percent to €1.42 billion ($1.88 billion) in the first quarter despite a slip in earnings at its key Mercedes luxury car business.

Revenues rose 9 percent to €27.01 billion.

Divisional earnings slipped 3 percent at the ...

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Japan's industrial output rises 1 percent in March

Apr 26, 2012

By MALCOLM FOSTER, Associated Press

TOKYO (AP) — Japan's industrial production rose 1 percent in March from February, led by output of automobiles, notebook computers and communications equipment amid a tentative upswing in the world's third-largest economy. Aiming to support a recovery, the Bank ...

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FTC hires outside lawyer to steer Google probe

Apr 26, 2012

By MICHAEL LIEDTKE, Associated Press

SAN FRANCISCO (AP) — The Federal Trade Commission has hired a prominent trial lawyer to oversee its broad investigation into Google's business practices, signaling the agency is troubled by what it has discovered so far in its year-old probe.

Former Justice ...

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Samsung Electronics reports record profit

Apr 26, 2012

By YOUKYUNG LEE, Associated Press

SEOUL, South Korea (AP) — Samsung Electronics Co., the world's largest consumer electronics firm by revenues, on Friday reported a record-high profit as strong smartphone sales helped mask a drop in semiconductor and TV profit.

Net profit amounted to 5.05 ...

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S&P cuts Spain's long-term credit rating 2 notches

Apr 26, 2012

NEW YORK (AP) — Standard & Poor's lowered Spain's long-term credit rating by two notches on Thursday, saying the country's budget problems are likely to get worse because of the weak economy.

S&P reduced Spain's long-term sovereign credit rating to "BBB+" from "A." The agency also lowered Spain's ...

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Chrysler posts best quarterly profit in 13 years

Apr 26, 2012

By TOM KRISHER, Associated Press

DETROIT (AP) — Chrysler had its best quarterly profit in 13 years. Not bad for a company that almost died three years ago.

The company earned $473 million in the first quarter, mainly from strong U.S. sales, which rose 39 percent from January through March.

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Moody's downgrades Ontario's credit rating

Apr 26, 2012

TORONTO (AP) — Credit rating agency Moody's on Thursday downgraded Ontario's debt, a day after Standard and Poor's revised its outlook on the Canadian province from stable to negative.

Ontario is facing a CA$15 billion (US$15.24 billion) deficit this year. The Liberal provincial government ...

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Zynga reports 1Q net loss, higher revenue

Apr 26, 2012

By BARBARA ORTUTAY, Associated Press

NEW YORK (AP) — Online games company Zynga reported a net loss in the first quarter because of stock-compensation expenses, but adjusted earnings were better than Wall Street expected.

Zynga Inc. said Thursday that net loss was $85.4 million, or 12 cents per ...

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House OKs cybersecurity bill despite veto threat

Apr 26, 2012

By DONNA CASSATA, Associated Press

WASHINGTON (AP) — The House ignored Obama administration objections Thursday and approved legislation aimed at helping stop electronic attacks on critical U.S. infrastructure and private companies.

On a bipartisan vote of 248-168, the GOP-controlled House backed ...

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Google Fires Back at FCC on Wi-Fi Investigation

Apr 26, 2012

By MICHAEL LIEDTKE, Associated Press

SAN FRANCISCO (AP) — After being spanked by the Federal Communications Commission, Google is scolding the agency for its handling of a recently concluded investigation into the company's collection of emails, passwords and other personal information transmitted ...

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Kindle Fire helps Amazon beat 1Q estimates

Apr 26, 2012

By RYAN NAKASHIMA, Associated Press

LOS ANGELES (AP) — Amazon.com Inc. posted first-quarter profits Thursday that blew by analysts' estimates and boosted the company's stock in extended trading. The online commerce giant said its Kindle Fire tablet computer was its best-selling item and helped ...

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