In a sign that the global economy is recovering McDonald’s reported a 5 per cent increase in sales for the second quarter, buoyed by strong results across a variety of regions
Investment powerhouse Blackstone has raised a greater-than-anticipated $13.5bn for its new buy-out fund, the biggest since the financial markets crisis, in a strong quarter in which income rose 13 per cent to $205m
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Blackstone buy-out fund hits $13.5bn
The US packaged gas company rejects an increased offer from rival Air Products, as the company reports earnings in its fiscal first quarter of 0.83 per share, up 26 per cent on the previous year
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Airgas rejects Air Products’ increased offer
A hot June could not rescue sales of carbonated soft drinks in North America for Pepsico, which announced a 1 per cent decline in sales of its flagship beverage from the same period a year ago when the weather in its home market was much cooler
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Bottler acquisitions boost PepsiCo revenues
After a year of decreasing input costs which contributed to strong earnings, General Mills predicts that inflationary pressures will add 4.5 per cent to its costs of goods sold in fiscal 2011
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General Mills sees rising sales costs
Elevation Partners, the private equity firm, has acquired an additional 5m shares of Facebook for $120m, bringing its stake in the social network to about 1.5 per cent, according to a person with knowledge of the deal. In November, Elevation bought 2.5m shares for $90m
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Elevation raises Facebook stake
Shares in Amazon and Barnes & Noble fell around 3 per cent on fears of a possible e-reader price war, after the two booksellers cut the prices of their Kindle and Nook e-reader devices by around 25 per cent.
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Price slashing hots up e-reader rivalry
MEG Energy, an Alberta oil sands producer 17 per cent owned by China National Offshore Oil Corporation, plans to raise more than C$500m through a public share offering
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MEG Energy plans C$500m IPO
If pressure mounts, one early option is likely to be a dividend cut – a risk reflected in the shares’ notional prospective yield of about 10 per cent
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Options that face BP if matters worsen
Judging from of Australian bank employees, Australia’s debt bubble is ready to implode soon. Please consider Bank workers fret over customer debt. The survey by the Finance Sector Union showed that 29 per cent of its members felt uncomfortable about their customers’ ability to meet their financial obligations with new debt products. About 43 per cent said they were ”are under pressure to sell debt products, even if customers don’t ask for them and may not be able to afford …
Sydney Morning Herald Wireless world demands tighter security Sydney Morning Herald At least as worrisome, 23 per cent of companies reported they had been affected by a phishing attack – an email scam whereby criminals impersonate a … and more
Wireless world means security is vital Sydney Morning Herald At least as worrisome, 23 per cent of companies reported they had been affected by a phishing attack – an email scam whereby criminals impersonate a …
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Wireless world means security is vital – Sydney Morning Herald
A week ago, the share price of MTN, South Africa’s leading telecoms company and the biggest mobile operator on the continent, suddenly shot up 6 per cent, three times…
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Ambani brothers’ truce fuels talk of fresh attempt at Reliance-MTN deal
Shares in Delll fell as much as 5 per cent in after-hours trading, in spite of a 52 per cent jump in first-quarter net income, after the computer maker reported a thinner profit margin and warned of a coming seasonal slowdown in purchases by large businesses
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Dell shares dip despite jump in profits
Microsoft expects 80 per cent of the PCs sold after it launches the retail version of Office 2010 on June 15 to be pre-loaded with the new software
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Microsoft Office 2010 to be preloaded on 80% of PCs
The US food group reported net revenues of $11.3bn for the first quarter 2010, a 26 per cent gain over the comparable period in 2009
The box office success of Avatar, James Cameron’s 3D science fiction epic, helped propel a 19 per cent jump in News Corp’s revenues as growth continued at Fox News and newspaper advertising rebounded
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Murdoch considers cash pile options
Global car production surged by more than 50 per cent in the first quarter of this year, confirming executives’ affirmations that the worst of the crisis in the industry that began after the banking meltdown in late 2008 has passed
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Carmakers pump up production
Goldman Sachs shares tumbled more than 9 per cent, wiping out about $8bn (£5.2bn) in market value, amid reports that US prosecutors were considering a criminal investigation into the bank’s mortgage-backed securities business.
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US prosecutors to review Goldman case
The US’s biggest oil company reported a 38 per cent rise in earnings to $6.3bn in the first quarter, yet it continued to spend more than that to appease shareholders
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ExxonMobil profits rise 38% in first quarter
A handful of the largest US technology companies have increased their cash mountains by 40 per cent over the past year, taking their reserves to nearly a quarter of a trillion dollars, according to figures released in recent days
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Cash-rich tech companies avoid M&A path
Truck builder’s share price advances 10 per cent after stronger-than-expected swing into profit and rebounding demand in Europe and North America
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Volvo surges on strong earnings and forecast
Amazon, the world’s largest online retailer, reported that its first-quarter sales almost doubled, increasing 46 per cent to $7.12bn.
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Amazon sales double in first quarter
Wells Fargo’s first-quarter earnings fell 16 per cent to $2.5bn, or 45 cents a share, as the bank continued to struggle with souring loans to home owners and small businesses
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Wells Fargo quarterly profits fall 16%
Apple reported a 90 per cent increase in second-quarter profit, beating bullish Wall Street estimates on an astounding 49 per cent increase in revenue
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Apple profits surge as iPhone shipments double
Earnings of $1.6bn for the first quarter, a 20 per cent gain over the comparable period a year ago, is driven by strong growth in Latin America, Africa and Asia-Pacific
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Coke boosted by overseas sales
Gannett, publisher of USA Today, reported a 51 per cent jump in first quarter profit on sharp cost cuts and an improving advertising market
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Gannett profits jump 51%
Google shook off the effects of the advertising recession in the first quarter of this year as its revenues jumped 23 per cent from a year ago
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Google shakes off effect of advertising slump
Peabody Energy has raised its offer for Macarthur Coal by 14 per cent to $3.8bn, in what could be a knockout blow in the bidding war for the Australian miner
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Peabody raises bid for Macarthur Coal
Palm’s shares gained more than 10 per cent, capping a volatile week in which the smartphone maker’s stock has moved sharply in response to a succession of takeover rumours
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Palm shares soar on HTC takeover rumours
The industry, which specialises in bets on interest rates, sovereign bonds and currencies, has lost on average 1.25 per cent on investments so far this year
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Macro hedge funds fail to profit from crisis
General Motors reported a 21 per cent advance in US light vehicles sales in March, helped by popular new models and low-margin sales to car rental operators and other fleet operators
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Fleet orders drive boost in GM sales
ConocoPhillips, the third biggest US oil company, confirms plans to halve its 20 per cent stake in Lukoil, Russia’s second biggest oil producer, raising the amount of projected profits from its asset disposal plan to $15bn
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ConocoPhillips confirms halving Lukoil stake
A business group survey showed that 38 per cent of US businesses felt that foreign companies were increasingly unwelcome to participate in the Chinese market, up from 26 per cent just two months earlier
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US companies find China less welcoming
Lone Star, the US private equity group, is set to resume selling its 51 per cent stake in Korea Exchange Bank, worth Won4,400bn at current market prices
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Lone Star set to revive KEB stake sale
Shares in Interpublic Group leap 10 per cent as the advertising group says it will improve profitability this year, after net income halved in 2009
Revenue for the year rose 17 per cent to £14.2bn, boosted by acquisitions, foreign exchange movements and higher cigarette prices
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BAT benefits from increased cigarette prices
Shares in the US smartphone maker fell by more than 13 per cent after it warned its fiscal third-quarter and full-year revenues would be ‘well below’ forecasts
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Palm’s warning sends shares tumbling
Wall Street bonuses topped $20bn last year, rising 17 per cent from 2008 as US banks emerged from their worst downturn in decades.
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Wall Street bonuses rise 17%
Comparable sales at world’s largest retailer’s US stores slip 2 per cent in fourth quarter as group warns of a ‘more challenging’ domestic conditions after last year’s strong growth
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Walmart suffers first US sales decline
Hewlett-Packard pointed to a strengthening recovery as it reported a 25 per cent rise in quarterly net income and raised its revenue and profit forecasts
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HP benefits from recovering economy
Carl Icahn has launched a tender offer to increase his stake in LionsGate Entertainment to about 30 per cent, a move that would make him the largest shareholder in the company, which makes the Mad Men television series and the Oscar contender Precious
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Icahn in effort to increase Lions Gate stake
PepsiCo announced fourth quarter earnings of $1.4bn, almost double that recorded for the last quarter of 2008. For the year, PepsiCo’s net income for the year of $5.8bn was up 16 per cent
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Pepsi boosted by strong international sales
Shares fell by 8 per cent after the third largest US mobile network operator said it had lost another 504,000 customers who pay monthly bills in the fourth quarter
Shares in the publisher of the UK’s Yellow Pages rose 13 per cent after the company beat market expectations and said its small business customers were gaining in confidence
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Yell beats market estimates
Vikram Pandit, Citigroup chief executive, re-affirms the bank’s commitment to expand its Asia-Pacific footprint amid expectations that revenue growth in the region will exceed 10 per cent this year
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Citigroup flags Asia revenue growth
Toyota’s US sales sank 16 per cent in January from a year earlier as the carmaker acknowledged safety defects in millions of its vehicles, while Ford and GM saw sales rise
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Toyota sales suffer in the US
AIG will pay around $100m in bonuses to some 200 employees of its troubled financial product unit this week after they agreed to cuts of at least 10 per cent in their pay-outs in an effort to defuse the political furore over the issue
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AIG staff agree to bonus cuts
The agricultural commodities trader saw profits fall 2 per cent in the second quarter, beating forecasts of a bigger drop
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ADM exceeds expectations
Barclays Capital calculates that to move US government finances to a sustainable footing, tax as a proportion of GDP must rise to 35 per cent
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Debt and taxes