Profits News
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The world's largest chemical producer, BASF SE, fired a warning shot across industries, saying slowing markets from cars to crops and the impact of the U.S.-China trade war threaten to cut profits by 30 percent this year.
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Bookseller Barnes & Noble shares were falling hard Thursday as investors were dissuaded by weak operating profit guidance. Amazon, on the other hand, prepares to close pop-up stores and open more book stores.
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Devon Energy Corporation plans to separate its Canadian oilsands and Barnett Shale assets. The company said these plans aim "to complete the transformation to a high-return U.S. oil growth business."
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New York -
When Tesla Inc posts third-quarter results on Wednesday, Chief Executive Elon Musk may show off a long-promised quarterly profit, as production of his Model 3 electric sedan takes off.
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Ford, General Motors, and Fiat Chrysler cut profit forecasts and their shares fell sharply on Wednesday, in a clear sign the global trade war is hurting the world’s largest car makers.
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Digital Journal delves into the key pharmaceutical sector business news. This week we bring updates from Novartis, Bayer, Boehringer and Lilly.
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Disney's newest animated film, Frozen, turned out to be a bigger hit than expected. This and other company investments skyrocketed Disney's year-end profits, significantly surpassing analysts' projections.
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Due to falling sales in the U.S. and across Europe, shares in the soft drinks manufacturer Coca-Cola saw their biggest fall in two years. U.S. sales have fallen by over 4 percent, with a similar decline occurring across Europe.
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Seattle -
The homeless present a growing problem in Seattle, Washington, as well as other cities across the United States. But it's generally accepted that through donations and the help of community-spirited organizations, the homeless can be given a better life.
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Whole Foods Market reported its financial results for its second quarter. The company said sales and profits have been increasing this year.
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LinkedIn, the social networking site for 'professionals', has seen a 10% rise in profits for the last quarter of 2012. This has led to an increase in its share price.
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Little Sutton -
A couple who ran a cannabis factory and gave away a lot of their fortune to poor African families and charities, have been jailed.
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Smartphone manufacturer HTC has reported a 79% drop in profits. This is the third quarter of reported losses. The Taiwanese phone maker is losing ground to Samsung and Apple.
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An index of the industrial performance of Chinese companies recorded a fifth successive month of decline in profits. The slowdown, which began in 2011 and accelerated at the start of 2012, has now extended into a seventh successive quarter.
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Charlotte -
Peter Schiff, CEO of Euro Pacific Capital and bestselling author, went undercover this week at the Democratic National Convention. There he promoted the idea of banning or limiting corporate profit and many people he spoke with agreed with the measure.
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The technology giant Google has reported a large rise in profits for the second quarter of 2012, with income up by 11% compared with the previous year.
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Geneva -
Swiss national railing company, SBB, announced that they made just less than $5 million in profits during the first six months of the year. The company thanked the volcanic ash cloud that forced airlines to cancel hundreds of flights in Europe.
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United States airline giant Boeing is reporting a sharp drop in deliveries, which have fallen 10% from 2009. This has, in turn, affected quarterly profits.
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New York -
It was released this week that Goldman Sachs made money every day during the last quarter, which is something the global investment giant has never done before, despite its criminal allegations and investigations.
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Nintendo announced its results today and have recorded a fall of 36 percent in its operating profits. The decline is said to be down due to the decrease in sales of the Nintendo Wii.
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Lloyds TSB, one of the UK banks that was given taxpayer's money to help them through the credit crisis, has today announced a profit for the first quarter of 2010.
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H1N1 swine flu vaccine maker GlaxoSmithKline released its fourth quarter profits today. The company's profits are $2.6 billion. The boost comes from Swine Flu vaccine purchases.
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Pharmaceutical giant AstraZeneca will cut its workforce by 16 percent by 2014, even as it continues to show strong growth in its profits. The company reported $31.6 billion in profits last year, an increase of 6.9 percent over last year.
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The Federal Reserve has posted record profits in 2009 by making $50.2 billion, which is a $14.4 billion increase from 2008.
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Internet giant Google has just announced record profits for the last quarter. The figures indicate Internet advertising, which was hit by the global economic slowdown, did not affect Google as badly as other online publishers.
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Software giant Microsoft today announced their financial results for the last quarter and they made for disappointing reading. Profits at the company fell by almost one third.
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Shares in the United States and Europe have fallen dramatically after the Bank of America reported how much extra money it needs to cover the cost of it's debts.
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The economic downturn is causing an upturn in alternative medicine usage. Sales of vitamins and herbal supplements, in particular, have risen substantially since the recession began, reports the Associated Press.
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Wal-Mart reported today that February sales increased by 5.1 percent in their U.S. stores. This news caused a jolt in their stock prices, which increased by 4.8 percent this morning.
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OK, the enfants terrible of the corporate world, those upstarts, Google, are now an example of people running companies like they take the job seriously. What next, sanity? Google’s profit actually went up, while the geniuses of Wank Street went broke.
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