Business

April 28, 2011

eBay profits jump 20% on Paypal growth

Internet auction giant eBay has reported a sharp rise in quarterly profits thanks in large part due to strong growth at its Paypal division. Net income for the first three months of the year was $476 (£286m), a 20% rise on the $398m recorded a year…

April 20, 2011

Apple profits nearly double as iPhone sales soar

Latest profits for the computer giant Apple beat hopes, including a…

April 20, 2011

US Stocks Close Higher in Trading Wednesday

U.S. stock indexes closed higher in trading Wednesday. The Dow Jones Industrial Average was up 1.52 percent to close at 12,454. The broader S&P 500 index rose 1.35 percent to 1,330, while the NASDAQ climbed 2.1 percent to end the day at……

April 20, 2011

China to build 55 airports in five years

China plans to increase its total number of airports from 175 to 230 over the next five years, according to senior aviation officials in China. Li Jiaxiang, head of the Civil Aviation Administration of China (CAAC), commented on the aviation…

April 20, 2011

Toyota making drastic production cuts after Japan quake, tsunami

Toyota has announced drastic production cuts in North America and China due to…

April 20, 2011

Afghan Officials Try to Recoup Kabul Bank Loan Money

Afghanistan's top banker says officials have increased efforts to recover hundreds of millions of dollars in loans made by the country's biggest lender, Kabul Bank, but they have only collected about five percent of the total so far. Kabul Bank…

April 20, 2011

Gold Again Tops $1,500 an Ounce

The price of gold set a record high for a second straight day Wednesday as investors looked for an alternative to a weakening U.S. dollar. Various unsettling events in the world in the last few months — such as the political unrest in the Middle…

April 20, 2011

World Bank, IMF say Caribbean needs help in reaching MDG targets

The World Bank and the International Monetary Fund (IMF) say while two-thirds of developing…

April 20, 2011

Citigroup’s profit plunges 32 per cent

Citigroup Inc’s first-quarter profit fell 32 per cent as shrinking loans and poor trading results pressured revenue while expenses surged. The results highlighted how the third-largest US bank, which teetered on the brink of collapse in the…

April 20, 2011

Stocks sink after S&P issues warning on US debt

A warning from Standard & Poor's (S&P) that the agency might lower its rating on US government debt sent stocks on their steepest slide in a month yesterday. S&P said there is a 33 per cent chance it would lower the country's credit rating from…