Business News
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Nokia posts $1.2 billion loss as sales plummet
Tweet Share on Facebook 6:20AM April 19, 2012 CommentHELSINKI (AP) — Struggling cellphone maker Nokia has suffered one of its worst quarterly results ever, blaming tough competition for a huge €929 million ($1.2 billion) net loss as sales plunged, especially in the smartphone market.
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EU clears J&J's $21.3BN acquisition of Synthes
Tweet Share on Facebook 5:01AM April 19, 2012 CommentBRUSSELS (AP) — The European Union's competition regulator says it has approved Johnson & Johnson's $21.3 billion acquisition of Swiss orthopedics maker Synthes.
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Iran oil minister warns of new sale cuts to Europe
Tweet Share on Facebook 5:00AM April 19, 2012 CommentTEHRAN, Iran (AP) — Iran's oil minister on Thursday raised the prospect of more cutoffs in oil sales to the European Union if the bloc failed to show some flexibility toward Iran ahead of a second round of nuclear talks next month.
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Iraq excludes Exxon from May energy auction
Tweet Share on Facebook 4:42AM April 19, 2012 CommentBAGHDAD (AP) — Iraq's Oil Ministry said Thursday that the U.S. oil giant Exxon Mobil Corp. is not allowed to bid in the May energy auction because of its oil deals with the northern self-ruled Kurdish region in Iraq.
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Murdochs to appear at UK media ethics inquiry
Tweet Share on Facebook 4:21AM April 19, 2012 CommentLONDON (AP) — Britain's media ethics inquiry said Thursday it will hear testimony from News Corp. chairman Rupert Murdoch and his son James next week, as officers arrested three people in the investigation of corrupt ties between the British police and the press.
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Automakers unveil new models at Beijing show
Tweet Share on Facebook 4:11AM April 19, 2012 CommentBEIJING (AP) — Automakers are bringing SUVs and luxury sedans designed for Chinese buyers to China's biggest auto show this year as they scramble to keep sales growing amid a slump in this giant market's once-explosive demand.
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Spain borrowing costs higher in debt auction
Tweet Share on Facebook 4:01AM April 19, 2012 CommentMADRID (AP) — Investors showed a healthy appetite for Spanish debt Thursday but demanded a higher borrowing rate in an auction that was a key test of confidence in the government's ability to get a handle on its debts.
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Clark Fortune Estimated in 'Hundreds of Millions'
Tweet Share on Facebook 3:43AM April 19, 2012 Comment
In this undated file photo released by ABC, Dick Clark hosts the New Year's eve special from New York's Times Square.
LOS ANGELES (AP) — Dick Clark married music and television long before "American Idol." But his legacy extends well beyond the persona of the laid-back host of "American Bandstand" whose influence can still be seen on TV today.
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Howard Buffett helps start rural feeding program
Tweet Share on Facebook 3:16AM April 19, 2012 CommentTRAVERSE CITY, Mich. (AP) — Farmer and philanthropist Howard G. Buffett, son of billionaire investor Warren Buffett, wants to enlist fellow food producers in a new campaign to fight hunger in rural America.
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Tobacco giants fight Australia over labeling law
Tweet Share on Facebook 1:47AM April 19, 2012 CommentSYDNEY (AP) — Tobacco companies accused the Australian government of destroying the worth of their trademarks by forcing them to strip logos off cigarette packs as a court battle over the world's toughest laws on cigarette promotion drew to a close Thursday.
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Recruitment ads by for-profit colleges targeted
Tweet Share on Facebook 11:32PM April 18, 2012 CommentWASHINGTON (AP) — Where do for-profit colleges get the money they spend on all those highway billboards and television and radio ads?
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Japan trade deficit hits record; fuel imports rose
Tweet Share on Facebook 8:37PM April 18, 2012 CommentTOKYO (AP) — Disaster-battered Japan reported Thursday its biggest fiscal year trade deficit ever, a contrast from decades of surpluses on booming exports, as a nuclear crisis boosted expensive oil and gas imports.
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Asian investment boom seen in Latin America
Tweet Share on Facebook 6:39PM April 18, 2012 CommentPUERTO VALLARTA, Mexico (AP) — Selling soybeans, iron and copper ore and other commodities to Asian countries has transformed Latin America over the past decade, stabilizing economies despite worldwide crises and lifting tens of millions of people into the middle class. Now, say officials from both Asia and Latin America, a second gold rush is under way.
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Food stamps, federal pensions face GOP cuts
Tweet Share on Facebook 6:35PM April 18, 2012 Comment (2)WASHINGTON (AP) — The White House weighed in sharply Wednesday against a House GOP move to break last summer's budget pact by cutting the annual budgets for nondefense programs funded through annual appropriations bills.
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Spending by affluent helps Amex to strong quarter
Tweet Share on Facebook 6:23PM April 18, 2012 CommentNEW YORK (AP) — American Express said Wednesday that its cardholders charged 12 percent more in the first three months of this year than a year earlier, and past-due accounts stayed at historic lows.
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EBay posts higher 1Q net income and revenue
Tweet Share on Facebook 6:07PM April 18, 2012 CommentNEW YORK (AP) — EBay's first-quarter net income grew 20 percent thanks to higher revenue from its PayPal business and brisk sales at its e-commerce websites. The results beat Wall Street's expectations and investors sent the company's stock higher in after-hours trading.
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Feds soften rule on oversight of complex markets
Tweet Share on Facebook 5:29PM April 18, 2012 CommentWASHINGTON (AP) — Federal regulators have softened a plan to oversee companies that trade financial derivatives, the complex investments that played a central role in the 2008 financial crisis.
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Halliburton 1Q income rises 23 pct
Tweet Share on Facebook 5:19PM April 18, 2012 CommentNEW YORK (AP) — First, it was natural gas. Now a rush to tap new oil wells in North America is creating bigger profits for Halliburton.
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Shortages could slow down US auto production
Tweet Share on Facebook 5:06PM April 18, 2012 CommentDETROIT (AP) — The U.S. auto industry, already stretching to meet rising demand for cars and trucks, is facing shortages of parts and materials that could limit the number of new vehicles in showrooms later this year and crimp a historic turnaround.
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Yum Brands posts whopping 1st-ptr profit gain
Tweet Share on Facebook 4:42PM April 18, 2012 CommentLOUISVILLE, Ky. (AP) — The owner of the Pizza Hut, Taco Bell and KFC chains says its first-quarter net income rose 73 percent as rebounding U.S. sales were coupled with a continued strong performance overseas.
