January 22, 2012
General Electric shares fall on lower revenues
US industrial conglomerate General Electric has seen its profits rise, but its shares fell after revenues were lower than expected. GE shares opened down more than 2% as investors reacted badly to the results for the three months to 31 December.…
January 22, 2012
Google revenues worse than expected
Google reported a 27% increase in revenues for the last three months of 2011, but even that was not good enough to meet Wall Street estimates, sending the shares tumbling. Google shares fell 10% in after-hours trading to $575. It reported 3-month…
January 22, 2012
Republican Mitt Romney ‘to release tax returns’
US Republican presidential hopeful Mitt Romney has said he will release recent tax returns on Tuesday. Mr Romney, the early favourite in primary elections, appeared embarrassed during the South Carolina campaign by the issue of how much tax he…
January 22, 2012
IMF’s Lagarde joins in warning on austerity and growth
The heads of the IMF and World Bank have joined other influential figures in calling on countries to implement free trade, reform their economies and protect economic growth. They warned that austerity programmes should "promote rather than…
January 19, 2012
Eastman Kodak files for bankruptcy protection
Eastman Kodak, the company that invented the hand-held camera, has filed for bankruptcy protection. The move gives the company time to reorganise itself without facing its creditors, and Kodak said that it would mean business as normal for…
January 19, 2012
Sony Ericsson reports fourth quarter loss
Mobile phone company Sony Ericsson has reported a fourth quarter loss, citing tough competition and the global economic slowdown for the deficit. The firm - which is soon to be fully taken over by Sony - posted a net loss of 207m euros ($267m;…
January 19, 2012
Goldman Sachs cuts pay and bonuses as profits halve
US banking giant Goldman Sachs has cut its pay and bonus payments during 2011 - to $12.2bn (£7.4bn). It said its total compensation - including staff bonuses - was down 21% from 2010. The bank also said that its quarterly profits had more than…
January 19, 2012
IMF seeking $500bn funding boost
The International Monetary Fund (IMF) has said it will seek to increase its resources by $500bn (£325bn) to help stabilise the global economy. The extra money could be used to help countries in the eurozone struggling to pay their debts. But the…
January 17, 2012
Samsung to invest record 41.7 bln USD in 2012
South Korea's largest conglomerate Samsung Group said Tuesday that it planned to invest a record 47.8 trillion won (41.7 billion U.S. dollars) this year in a bid to secure new growth engines. Samsung Group, which controls tech giant Samsung…
January 17, 2012
Eurozone Sees Drop In December Inflation Rate
The eurozone saw a slightly larger than expected drop in the December inflation rate, down to 2.7 percent. Eurostat, the European Union's statistics office, predicted the December rate would drop to 2.8 percent from November's rate of 3 percent…