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Business News

  • Average US 30-year mortgage rate at 4.12 percent

    Thursday, Jul 31, 8:14 am
    WASHINGTON (AP) -- Average U.S. mortgage rates declined slightly this week, hovering near their lows for the year.Mortgage company Freddie Mac said Thursday that the nationwide average for a... Read more...
  • US stocks open lower; Yum Brands sinks

    Thursday, Jul 31, 7:12 am
    NEW YORK (AP) -- Stocks are opening lower as investors react to more disappointing earnings from companies.L-3 Communications Holdings plunged 14 percent, the most in the Standard & Poor's 500... Read more...
  • Exxon profit surges, but production slips

    Thursday, Jul 31, 6:42 am
    NEW YORK (AP) -- Exxon Mobil Corp. net income rose 28 percent in the second quarter on a sale of Asian assets and higher oil prices, but oil and gas production slipped 6 percent, disappointing analysts.On... Read more...
  • MasterCard 2Q profit rises on volume growth

    Thursday, Jul 31, 6:12 am
    PURCHASE, N.Y. (AP) -- MasterCard's second-quarter net income climbed 9.8 percent as it benefited from volume growth and handled more transactions in the period.The company's results topped analysts'... Read more...
  • Russia ordered to pay another $2.5 bln for Yukos

    Thursday, Jul 31, 5:00 am
    PARIS (AP) -- The European Court of Human Rights on Thursday ordered Russia to pay out another 1.9 billion euros ($2.5 billion) to a group of shareholders of Yukos, the oil company the government dismantled... Read more...
  • Volkswagen 2nd quarter profit up but revenue slips

    Thursday, Jul 31, 3:24 am
    BERLIN (AP) -- Germany's Volkswagen, Europe's biggest automaker, says its net income rose 14.1 percent in the second quarter although revenues slipped even as unit sales pushed higher.Volkswagen... Read more...
  • Samsung earns $6.1 billion, shares plunge

    Thursday, Jul 31, 2:55 am
    SEOUL, South Korea (AP) -- Samsung earned $6.1 billion last quarter but investors were dissatisfied, sending its share price down 4 percent. The panoply of numbers in its earnings report for the April-June... Read more...
  • Adidas issues profit warning on Russia risks

    Thursday, Jul 31, 2:06 am
    BERLIN (AP) -- Sports equipment maker Adidas lowered its full-year profit target on Thursday, citing among other things increasing risk in the Russian market amid mounting political tensions over Ukraine.Russia's... Read more...
  • Alcatel loss narrows in 2Q

    Thursday, Jul 31, 1:18 am
    PARIS (AP) -- Telcommunications equipment company Alcatel-Lucent SA says its net loss narrowed in the second quarter thanks to lower accounting charges, while revenue stagnated and restructuring charges... Read more...
  • Siemens earnings up 27 pct in April-June quarter

    Thursday, Jul 31, 1:06 am
    BERLIN (AP) -- Siemens says its net profit rose 27 percent in the April-June period after earnings a year earlier were weighed down by restructuring costs, though the strong euro hurt its revenue and... Read more...
  • AB InBev earnings rise, sees US improving

    Thursday, Jul 31, 1:06 am
    AMSTERDAM (AP) -- Budweiser brewer AB InBev SA, the world's largest beer maker, says sales and underlying earnings grew in the second quarter, with 7.2 percent growth in Brazil, thanks in part to the... Read more...
  • Sony surprises with first quarter profit

    Thursday, Jul 31, 1:06 am
    TOKYO (AP) -- Sony Corp. reported a surprise eightfold jump in quarterly profit Thursday as sales got a perk from a cheap yen and its bottom line was helped by gains from selling buildings and its stake... Read more...
  • Sanofi 2nd quarter profit surges

    Thursday, Jul 31, 12:18 am
    PARIS (AP) -- French drug maker Sanofi said Thursday its earnings soared in the second quarter thanks to lower accounting charges than a year earlier, and the company lifted it full-year profit forecast.Sanofi... Read more...
  • Shell profit up on higher oil prices

    Wednesday, Jul 30, 11:42 pm
    AMSTERDAM (AP) -- Royal Dutch Shell PLC, Europe's largest oil company, says second quarter earnings rose on higher production and higher selling prices for oil, and fewer one-time charges.Net... Read more...
  • Congress cooperates _ and fights _ as recess nears

    Wednesday, Jul 30, 7:37 pm
    WASHINGTON (AP) -- Eager to begin a monthlong break, Congress leavened its customary heavy partisanship on Wednesday with a pinch of compromise, advancing legislation to repair the deeply troubled Department... Read more...
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