November 7, 2012
AOL shares jump on advertising revenue
Shares in AOL have jumped 22% after the US internet firm reported a sharp rise in advertising revenues. Advertising sales jumped 7% to $340m (£212m), boosting net profit for the third quarter to $20.8m, compared with a loss of $2.6m a year ago.…
November 6, 2012
Asia drives BMW to record third quarter profit rise
Booming sales in Asia have helped German car firm BMW shrug off the gloom in Europe to report a record third quarter pre-tax profit. The world's largest luxury carmaker saw sales in China and Japan rise by 33% and 21.5% respectively in the nine…
November 6, 2012
France to raise VAT to fund company tax breaks
The French government has said it will raise value added tax and cut public spending in order to fund tax credits for firms that keep jobs in France. The 20bn-euro (£16bn) plan comes after a government-commissioned report by industrialist Louis…
November 6, 2012
Apple v Google: US judge dismisses patent lawsuit
A US judge has dismissed Apple's case in which it alleged that Google's Motorola unit was seeking excessive royalty payments for patents. Motorola has sought 2.25% of the price of Apple products that use some of its patents, which Apple said was too…
November 5, 2012
Economists predict rebound, but warn of risks
Economists quizzed for a new survey have cautioned against external and policy risks that may ruin a widely expected pick-up in China's growth in the last quarter of 2012. Forecasts for the economy's fourth-quarter growth made recently by 40…
November 4, 2012
Apple paid only 2% corporation tax outside US
Apple paid less that 2% corporation tax on its profits outside the US, its filing with US regulators has shown. Apple paid $713m (£445m) in the year to 29 September on foreign pre-tax profits of $36.8bn (£23.0bn), a rate of 1.9%. It is the latest…
November 4, 2012
US economy adds 171,000 new jobs
The US economy added 171,000 new jobs in October, which was much more than had been expected. But the official figures from the Labor Department showed that the unemployment rate still rose to 7.9%, having fallen to 7.8% in September, as more…
November 4, 2012
TNT’s John Jeremie criticises PNM’s Clico bailout plan
SINCE at least November 2009, former PNM Attorney General John Jeremie was aware of flaws in two agreements signed by his own PNM administration with CL Financial governing the State’s 2009 bailout. In particular, Jeremie, who assumed the post of…
November 4, 2012
Chevron concludes sale of fuels marketing and aviation businesses in Caribbean
Chevron has concluded the sale of its fuels marketing and aviation businesses in Jamaica, Dominican Republic and St Maarten to Gulfstream Petroleum, a wholly owned affiliate of GB Group. GB Group is one of the leading private industrial groups in…
October 30, 2012
US markets to remain closed on today amid Hurricane Sandy
Hurricane Sandy has continued to disrupt business in the US East Coast, including forcing US stock markets to close again on Tuesday. Sandy has flooded subway and road tunnels in much of Lower Manhattan. Beyond New York City, public transport has…