January 17, 2015 12:15 pm
Goldman Sachs Inc. announced that its fourth-quarter net profit declined by 7.1% due to decreased revenue from its trading and investment banking operations. Still, the results revealed by the bank were better than what analysts initially had projected. According to the companys statement, net income fell from $2.33 billion, or $4.60 per share, a year […]
Read moreJanuary 16, 2015 3:49 pm
Best Buy Co projected on Thursday that sales will take a hit by lower consumer interest towards electronics amid falling prices during the first two quarters of the financial year. The largest US consumer electronics chain said it expects same-store sales growth to be flat to negative low-single digit over the next six months and […]
Read moreJanuary 16, 2015 2:05 pm
BP Plc faces a maximum fine of $13.7 billion over its 2010 oil spill in the Gulf of Mexico after a US court ruled that 3.19 million barrels of oil leaked into the ocean. The government had estimated that 4.2 million barrels leaked into the Gulf of Mexico during the worst offshore spill in US […]
Read moreJanuary 16, 2015 12:12 pm
Hyundai Motor won a wage dispute over extra employee payments that could have resulted in more than 1 billion additional expense annually. Twenty-three union workers, representing all of the companys South Korean employees, launched a lawsuit in March 2013 against Hyundai and demanded that the company lift their payments in line with a Supreme Court […]
Read moreJanuary 16, 2015 9:55 am
Intel Corp, the worlds largest chipmaker, reported a 39% increase in net income during the fourth quarter of 2014, driven by higher demand for server chips and stronger PC sales. In the quarter ended September 27 Intel reported record revenue of $14.7 billion, up 6% compared to Q4 of 2013. Net income stood at $3.7 […]
Read moreJanuary 16, 2015 8:18 am
Citigroup Inc reported on Thursday that its fourth-quarter performance was hurt by a decline in trading revenue and a previously announced legal charge. Net income fell 86% to $350 million in the three months ended December 31, after a $3.5 billion deduction in legal and restructuring charges. During the same quarter of 2013, Citigroup stated a […]
Read moreJanuary 15, 2015 2:59 pm
Bank of America Corp, the second-largest US lender, announced on Thursday that its fourth-quarter profit fell, largely due to decline in revenue from fixed-income trading. Net income for the three months ended December 31 slided to $3.1 billion, compared to a net income of $3.4 billion a year earlier. Earnings per share stood at $0.25, […]
Read moreJanuary 15, 2015 1:22 pm
Google Inc has initiated negotiations with the worlds major car companies to speed-up the development of self-driving vehicles and release them by 2020. The internet giant has not yet decided whether to participate in the self-driving vehicle market as a manufacturer or a supplier of technology to already proven carmakers. “Wed be remiss not to […]
Read moreJanuary 15, 2015 11:13 am
BlackBerry Ltd and Samsung Electronics have both denied rumors that the South Korean technology giant has made an acquisition offer to the Canadian company. “BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry,” the company said in statement, outlining that it does not intent to further comment […]
Read moreJanuary 15, 2015 9:41 am
Compagnie Financiere Richemont SA announced on Thursday weaker sales growth as demand for its luxury watches dropped in Asia amid protests in Hong Kong. The owner of Cartier, IWC and Piaget brands announced a revenue of €3.05 billion during the three months ended December 31, up 3.7% compared to an year earlier. However, excluding currency […]
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