Finance News

Facebook Said to Put Off IPO Until 2012 to Buy Time for Growth - Bloomberg (Fri, 30 Jul 2010)
WHTC Facebook Said to Put Off IPO Until 2012 to Buy Time for Growth Bloomberg Facebook Inc. will probably put off its initial public offering until 2012, giving Chief Executive Officer Mark Zuckerberg more time to gain users and boost sales, three people familiar with the matter said. Facebook would benefit from another year of ... Facebook May Postpone IPO to 2012: ReportABC News Facebook May Delay IPOBenzinga Bloomberg: No Facebook IPO Before 2012, ProbablyTechCrunch White Hat News -allvoices -Yahoo! Tech all 19 news articles »
>> read more

Oracle Sued By Justice Department For Fraud - InformationWeek (Fri, 30 Jul 2010)
SAMAA TV Oracle Sued By Justice Department For Fraud InformationWeek The suit contends Oracle misrepresented its commercial sales practices to give government customers deals inferior to those offered to commercial customers. By Antone Gonsalves The Justice Department has sued Oracle, accusing the company of defrauding ... Justice Department files suit against OracleSan Francisco Chronicle Oracle Sued by US in Case Claiming OverchargesBusinessWeek Justice Department Sues Oracle for FraudWall Street Journal AFP -New York Times (blog) all 260 news articles »
>> read more

Dollar plumbs 2010 low against yen (Fri, 30 Jul 2010)
AFP - LONDON (AFP) - The dollar sank to a 2010 low against the yen on Friday but firmed against the euro amid concern over the prospects for the world's top economy as investors await key US growth data.

>> read more

Anglo American first half net profit down 31 pct but underlying earnings improve (Fri, 30 Jul 2010)
The Canadian Press - LONDON - Mining company Anglo American PLC said Friday it was resuming dividend payments as business improved in the first half of the year, although net profit slid by 31 per cent from a year ago when the company posted a large one-time gain.

>> read more

Honda books record $3.15bn quarterly net profit (Fri, 30 Jul 2010)
AFP - TOKYO (AFP) - Japan's number two car maker Honda posted a record 3.15 billion dollar quarterly net profit Friday, a strong comeback from a year earlier, and boosted its forecast for the year by a third.

>> read more

Japanese stocks hit by strong yen, lead Asia lower - MarketWatch (Fri, 30 Jul 2010)
Washington Post Japanese stocks hit by strong yen, lead Asia lower MarketWatch HONG KONG (MarketWatch) -- Asian markets declined Friday after a sluggish finish to the prior session on Wall Street, with Japanese shares hit particularly hard as weak economic indicators and a ... Nikkei slips on fears US recovery stalling; Sony upReuters World stocks fall as data takes shine off earningsThe Associated Press Sony, Panasonic Withstand Strong Yen With ForecastsBloomberg New York Times -BusinessWeek -Wall Street Journal all 566 news articles »
>> read more

European stocks falter before US output data (Fri, 30 Jul 2010)
AFP - LONDON (AFP) - Europe's main stock markets fell on Friday as investors looked ahead to key economic growth figures from the United States, after dissecting news of a major takeover, company earnings and eurozone data.

>> read more

Disney sells Miramax for over $660 million to Filmyard (Fri, 30 Jul 2010)
Reuters - LOS ANGELES (Reuters) - Walt Disney Co has sold film studio Miramax for more than $660 million to Filmyard Holdings LLC, ending months of talks between the media group and various bidders.

>> read more

Amerigroup 2Q Profit Up 35% On Higher Rev And Lower Claims>AGP - Wall Street Journal (Fri, 30 Jul 2010)
Amerigroup 2Q Profit Up 35% On Higher Rev And Lower Claims>AGP Wall Street Journal Amerigroup Corp.'s (AGP) second-quarter profit jumped 35% on improved revenue and lower medical claims, as results topped analysts' expectations. The Medicaid and Medicare managed-care company's revenue has been improving steadily and the bottom line ... Amerigroup posts higher Q2 profitReuters Amerigroup quarterly profit, revenue upMarketWatch Amerigroup Q2 Profit Rises - Quick FactsRTT News PR Newswire (press release) all 19 news articles »
>> read more

Airbus to boost output as outlook brightens - Reuters (Fri, 30 Jul 2010)
MiamiHerald.com Airbus to boost output as outlook brightens Reuters PARIS, July 30 (Reuters) - Airbus parent EADS (EAD.PA) made sweeping increases in its financial forecasts on Thursday and pledged to increase jetliner production after a spate of new orders raised hopes of an end to a ... EADS Ups Guidance For Orders, Revenue, ProfitabilityWall Street Journal EADS lifts sales and profit forecastsFinancial Times EADS raises outlook despite drop in Q2 profitThe Associated Press Bloomberg -MarketWatch -SatNews Publishers all 186 news articles »
>> read more

Facebook may postpone IPO to 2012: report (Fri, 30 Jul 2010)
Reuters - (Reuters) - Social networking website Facebook Inc may postpone its initial public offering until 2012, Bloomberg said, citing three people familiar with the matter.

>> read more

Spanish Q2 unemployment rate rises to 20.09 per cent, highest since 1997 (Fri, 30 Jul 2010)
The Canadian Press - MADRID - Spain's unemployment rate rose to a 13-year high of 20.09 per cent in the second quarter, the government said Friday, as the job market lagged behind an economy that has barely managed to break out of recession.

>> read more

Dollar falls and European shares slip on U.S. fears (Fri, 30 Jul 2010)
Reuters - LONDON (Reuters) - The dollar fell to an eight-month low against the yen on Friday while European and Asian shares slipped on worries U.S. growth data due later in the day may show the world's biggest economy is losing steam.

>> read more

Japan airline ANA's quarterly loss narrows to $60m (Fri, 30 Jul 2010)
AFP - TOKYO (AFP) - Japan's All Nippon Airways (ANA) Friday said its first-quarter net loss had narrowed to 60 million dollars compared to last year and predicted a return to net profit for this fiscal year.

>> read more

BA losses hit £122m on strike action, ash cloud (Fri, 30 Jul 2010)
AFP - LONDON (AFP) - British Airways on Friday said net losses widened to 122 million pounds during its first quarter as strike action and the Icelandic ash cloud grounded flights, but insisted it was set to break even.

>> read more

CORRECTED-NEWSMAKER-Sanofi's new broom CEO gets serious on M&A - Reuters (Fri, 30 Jul 2010)
Globe and Mail CORRECTED-NEWSMAKER-Sanofi's new broom CEO gets serious on M&A Reuters LONDON/PARIS, July 29 (Reuters) - After 20 months in the job, Sanofi-Aventis (SASY.PA) Chief Executive Chris Viehbacher is hungry for a deal -- but Genzyme (GENZ.O) investors looking for a rich pay-out can expect ... CORRECTED - UPDATE 5-Sanofi's Genzyme bid expected in days -sourceReuters Sanofi-Aventis CEO Viehbacher at a glanceThe Associated Press Sanofi's Genzyme bid expected in days: sourceReuters BusinessWeek -Wall Street Journal -Bloomberg all 536 news articles »
>> read more

Honda posts record Q1 and Renault returns to H1 profit (Fri, 30 Jul 2010)
Reuters - TOKYO/BOULOGNE-BILLANCOURT, France (Reuters) - Honda Motor Co raised its full-year forecasts after posting a record quarterly net profit on Friday, while brisk sales returned France's Renault to profit in the first half.

>> read more

Alcatel-Lucent posts wider than expected loss (Fri, 30 Jul 2010)
The Canadian Press - PARIS - Alcatel-Lucent SA reported Friday that its net loss in the second quarter was a wider-than-expected €184 million (US$240 million) but said it remains on track for an improvement in profitability this year.

>> read more

Michelin reports profit; sees recovery in tire markets (Fri, 30 Jul 2010)
The Canadian Press - PARIS - French tire maker Michelin says it made a net profit of €504 million (US$658 million) in the first half as auto markets recovered and expects demand to keep rising for the rest of the year.

>> read more

Mazda reduces quarterly loss on sales growth (Fri, 30 Jul 2010)
The Canadian Press - TOKYO - Mazda reduced its losses last quarter on sales growth in North America, China and Thailand, the latest in recovery tales from Japanese automakers.

>> read more

China overtakes Japan as No.2 economy: FX chief (Fri, 30 Jul 2010)
Reuters - BEIJING (Reuters) - China has overtaken Japan to become the world's second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

>> read more

Eurozone inflation rises sharply to 1.7% (Fri, 30 Jul 2010)
AFP - BRUSSELS (AFP) - Twelve-month inflation in the 16-nation eurozone is expected to rise sharply to 1.7 percent in July, European Union figures showed on Friday.

>> read more

Disney sells Miramax to investor for US$660M (Fri, 30 Jul 2010)
The Canadian Press - LOS ANGELES, Calif. - The Walt Disney Co. has agreed to sell its Miramax Films to an investor group for about US$660 million, ending a 17-year association with the studio and a six-month bidding process.

>> read more

Airbus to boost output as outlook brightens (Fri, 30 Jul 2010)
Reuters - PARIS (Reuters) - Airbus parent EADS made sweeping increases in its financial forecasts on Thursday and pledged to increase jetliner production after a spate of new orders raised hopes of an end to a steep industry recession.

>> read more

Rosy second-half outlook lifts Alcatel-Lucent - MarketWatch (Fri, 30 Jul 2010)
RTT News Rosy second-half outlook lifts Alcatel-Lucent MarketWatch LONDON (MarketWatch) -- Shares of Alcatel-Lucent rose nearly 8% on Friday as the telecoms-equipment giant reported in-line underlying earnings for the second quarter and forecast a stronger second half. ... Alcatel-Lucent Reports Loss But Sticks to ForecastWall Street Journal Alcatel-Lucent's Revenue Drops, but Operating Loss ShrinksPC World Alcatel-Lucent Sticks With Growth ViewTheStreet.com Light Reading -RTT News -Bloomberg all 218 news articles »
>> read more

Disney sells Miramax to investor for US$660 million (Fri, 30 Jul 2010)
The Canadian Press - LOS ANGELES, Calif. - The Walt Disney Co. says it will sell Miramax Films to an investor group for about US$660 million, ending a 17-year association with the studio and a six-month bidding process.

>> read more

World stock markets fall on weak Japanese economic figures (Fri, 30 Jul 2010)
The Canadian Press - BANGKOK - World markets fell Friday, overlooking strong earnings in Asia and Europe as Japanese shares tumbled on a strong yen and dour economic figures ahead of a key U.S. growth report.

>> read more

Renault in bigger than anticipated return to profit as car sales rise sharply (Fri, 30 Jul 2010)
The Canadian Press - PARIS - Renault SA said Friday it returned to profit in the first half of the year as higher car sales in all regions helped reverse massive losses a year earlier.

>> read more

Oil falls to near $78 in Asia as global stocks drop ahead of 2Q US GDP report (Fri, 30 Jul 2010)
The Canadian Press - SINGAPORE - Oil prices fell to near US$78 a barrel Friday in Asia as the region's stock markets dropped on dour economic figures from Japan ahead of a key U.S. growth report.

>> read more

HK firm offers $9 bln for British power network (Fri, 30 Jul 2010)
AFP - PARIS (AFP) - A consortium led by Hong Kong's richest man Li Ka-shing has made a 9.0-billion-dollar "irrevocable" offer to take over the British power distribution network of French electricity giant EDF, the French company said Friday.

>> read more

Samsung Electronics Profit Jumps to Record on Chips - Bloomberg (Fri, 30 Jul 2010)
Kansas City Star Samsung Electronics Profit Jumps to Record on Chips Bloomberg Profit at Samsung's semiconductor division jumped to 2.94 trillion won from 340 billion won a year earlier. Photographer: Jean Chung/Bloomberg Samsung Electronics Co., Asia's biggest maker of ... S Korean Shares End Down; Steel Firms, Samsung Electronics WeighWall Street Journal Samsung says 2Q net profit surges 83 percentThe Associated Press Seoul shares slip weighed by Samsung Elec, banksReuters BBC News -ABC News -Korea Times all 356 news articles »
>> read more

Honda posts record quartlery profit on growth in Asia, North America (Fri, 30 Jul 2010)
The Canadian Press - TOKYO - Honda's quarterly profit ballooned to 272.4 billion yen (US$3.2 billion) and the carmaker raised its full year earnings forecast as sales grew in North America, Japan and the rest of Asia.

>> read more

Nomura and Macquarie hit by fewer deals and frail markets (Fri, 30 Jul 2010)
Reuters - TOKYO/SYDNEY (Reuters) - Japan's Nomura Holdings Inc and Australia's Macquarie painted a bleak picture of Asia's investment banking industry, citing a dearth of deals and frail markets.

>> read more

Total: 72 percent second quarter net profit leap (Fri, 30 Jul 2010)
AFP - PARIS (AFP) - French oil giant Total said Friday its second quarter net profit jumped 72 percent to 2.96 billion euros (3.86 billion dollars), benefitting from higher oil prices.

>> read more

BA says quarterly loss rises to 122 million pounds (Fri, 30 Jul 2010)
AFP - LONDON, United Kingdom (AFP) - British Airways reported on Friday a net loss of 122 million pounds (146 million euros, 191 million dollars) in the three months to June, up 15 percent from a year earlier.

>> read more

S&P raises Ukraine ratings after IMF deal (Fri, 30 Jul 2010)
AFP - KIEV (AFP) - Standard and Poor's on Friday said it was raising its assessment of Ukraine's sovereign debt after the IMF agreed a 15 billion dollar package to help its economy emerge from the economic crisis.

>> read more

Japan's No. 2 airline ANA cuts quarterly losses to $61 million (Fri, 30 Jul 2010)
The Canadian Press - TOKYO - All Nippon Airways Co., Japan's No. 2 airline, said losses narrowed in the April-June quarter as it slashed costs and benefited from an uptick in international business and tourism travel.

>> read more

Emerging markets drive Hitachi's strong return to profit in Q2 (Fri, 30 Jul 2010)
The Canadian Press - TOKYO - Hitachi Ltd., a maker of everything from home appliances to nuclear reactors, returned to profit last quarter as strong Asian demand fueled recovery in the auto and electronics sectors.

>> read more

Samsung Elec sees weak profit after record Q2 (Fri, 30 Jul 2010)
Reuters - SEOUL (Reuters) - Samsung Electronics , the world's No.1 memory chipmaker, warned of weaker margins and profit growth after posting record quarterly earnings, as prices of chips and flat screens drop and smartphone competition grows.

>> read more

Apple's latest offering, the iPhone 4, goes on sale in Canada Friday (Fri, 30 Jul 2010)
The Canadian Press - TORONTO - Canadians hungry for the latest offering from Apple will get to take a bite today when the iPhone 4 goes on sale.

>> read more

British Airways in Q1 loss of 122 $190 million (Fri, 30 Jul 2010)
The Canadian Press - LONDON - British Airways PLC on Friday said its losses widened 15 per cent to 122 million pounds (US$190 million) in the three months ending June 30 as operations were disrupted by cabin crew strikes and a cloud of volcanic ash from Iceland.

>> read more

Is the Michigan oil spill sealed? - Detroit Free Press (Fri, 30 Jul 2010)
CBC.ca Is the Michigan oil spill sealed? Detroit Free Press KALAMAZOO -- Cleanup crews said Thursday they had stopped the westward spread of an oil spill heading down the Kalamazoo River, but officials from various agencies offered conflicting accounts of how far the slick had spread and whether oil continues ... Oil leak called a threat to Lake MichiganWashington Post US regulators demand fix for failed pipelineReuters Company at center of Mich. oil cited for problemsThe Associated Press DailyTech -Wall Street Journal -USA Today all 2,759 news articles »
>> read more

'Nightmare' start for iPhone 4's latest launch (Fri, 30 Jul 2010)
AFP - WELLINGTON (AFP) - Hundreds of customers in New Zealand and Hong Kong were turned away empty-handed on Friday as the second phase of the Apple iPhone 4's global launch got off to a "nightmare" start.

>> read more

Honda posts record quarterly profit on growth in Asia, North America (Fri, 30 Jul 2010)
The Canadian Press - TOKYO - Honda reported a record quarterly profit of 272.4 billion yen (US$3.2 billion) as auto sales grew in North America, Japan and the rest of Asia.

>> read more

HK tycoon's consortium to buy British electricity provider (Fri, 30 Jul 2010)
AFP - HONG KONG (AFP) - A consortium led by Hong Kong's richest man Li Ka-shing has won a bid to buy the British arm of French electricity provider EDF for more than nine billion dollars, Dow Jones Newswires reported Friday.

>> read more

Asia stocks slip on U.S. worries (Fri, 30 Jul 2010)
Reuters - HONG KONG (Reuters) - Asian stocks sagged on Friday as worries U.S. growth data may surprise on the downside and downbeat comments from a Federal Reserve official gave investors reason to book profits from a steady rally this month.

>> read more

Life insurance target of fraud inquiry - CNN (Fri, 30 Jul 2010)
Charlotte Observer Life insurance target of fraud inquiry CNN By the CNN Wire Staff New York Attorney General Andrew Cuomo is investigating life insurers over their payouts to military families. (CNN) -- New York Attorney General Andrew Cuomo is launching a fraud investigation into the life insurance industry for ... Dead soldier's family sues insurerMassLive.com Beneficiaries Can Cash Proceeds, Bypass Life Insurer Checking AccountsBloomberg NY AG announces probe of life insurance industryThe Associated Press Boston Globe -New York Times -Wall Street Journal all 431 news articles »
>> read more

Renault swings back strongly into profit as Q2 car sales rise sharply (Fri, 30 Jul 2010)
The Canadian Press - PARIS - Renault SA says it returned to profit in the second quarter as higher car sales in all regions helped reverse massive losses a year earlier.

>> read more

Samsung Electronics books record Q2 profit on chips boom (Fri, 30 Jul 2010)
AFP - SEOUL (AFP) - Samsung Electronics, the world's largest maker of memory chips and flat-screen televisions, reported record second-quarter profits Friday as revived global demand pushed up memory chip prices.

>> read more