Business

June 17, 2011

Blackberry firm misses its lowered forecasts

Research in Motion (RIM), which makes Blackberry phones, has missed even its lowered profit forecasts and lowered its predictions for the full year. RIM made a net profit of $695m (£430m) in the three months to 28 May, down from $769m in the same…

June 16, 2011

Digicel clarifies revenue performance

Digicel Group Limited, a provider of mobile and data storage services, has clarified its…

June 16, 2011

Hewlett Packard settles Oracle case over Hurd job

Computer maker Hewlett-Packard (HP) has settled a lawsuit brought against former boss Mark Hurd as it tried to stop him joining rival Oracle. Under the deal, Mr Hurd will give up about $30m (£19.3m) in HP shares he was given in his severance…

June 16, 2011

Online radio firm Pandora floats for $2.6bn in New York

The US internet radio service Pandora Media rose sharply on its debut on the New York Stock Exchange, before falling back. The firm, which has yet to make a profit, had an offering price of $16 (£9.76) a share. It rose as high as $26 a share on…

June 16, 2011

China’s property rating downgraded on tightening credit

Rating agency Standard & Poor's has downgraded its outlook for China's property market from stable to negative due to the country's tightening credit policy. The agency said as credit becomes more restricted there was a possibility of a downturn…

June 15, 2011

Fed chief Bernanke warns of US debt ceiling threat

The chairman of the US Federal Reserve, Ben Bernanke, has warned that the country's…

June 15, 2011

Qantas cuts growth forecast as more flights hit by ash

Qantas airlines has cut its forecast for domestic growth as it faces various problems including the continuing disruption due to volcanic ash. Australia's national carrier said it expected domestic capacity to grow by just 5.5% this year compared…

June 15, 2011

China inflation at 34-month high on rising food prices

Inflation in China hit its highest level in 34 months despite the government's efforts to rein in rising prices. Consumer prices in China rose by 5.5% in May, compared with the same month last year, according to the National Bureau of Statistics.…

June 15, 2011

Honda warns of profit slump due to earthquake

Honda has become the second major Japanese carmaker in a week to warn of dramatically lower profits due to reduced production resulting from March's massive earthquake. It forecast net profits of 195bn yen ($2.4bn; £1.5bn) for the year to the…

June 13, 2011

IMF: Lagarde wins support, as Fischer joins race

Christine Lagarde has won support from Egypt, Indonesia, and the United Arab Emirates in the…