Home » Archive for October, 2012

Image for Fiat Lowers Earnings Targets Due to European Economy

Fiat Lowers Earnings Targets Due to European Economy

Fiat announced sharp cuts in performance targets for the next two years. The Italian based automaker said that because of languishing sales throughout the European region, due to austerity measures, up to 33% of the projections for... More of this article »
Image for Profits fall by 83% at Burger King

Profits fall by 83% at Burger King

Burger King has reported its first earnings since it went public again. The company earned just over $6.6 million, but that was down from third quarter earnings of last year that were $38.8 million. Burger King Worldwide, one of the... More of this article »
Image for China Suspends Construction at Petrochemical Complex after Protests

China Suspends Construction at Petrochemical Complex after Protests

Officials in eastern China have stopped the construction at a petrochemical complex after it was met by protests by residents who claimed that it would pollute the region. Municipal officials in Ningbo city said that the planned expansion... More of this article »
Image for Economy grows during third quarter

Economy grows during third quarter

The U.S. economy grew during the third quarter by 2%, which was higher than economists had predicted. The growth was propelled by the rise in consumer spending, an increase in government spending on defense and more home construction. Economists... More of this article »
Image for Ford Cuts Jobs in Europe

Ford Cuts Jobs in Europe

Ford motor announced another round of job cuts in Europe as well as plant closures Thursday as a way to stop regional losses that the auto manufacturer expects to be above $3 billion in the next two years. The company told British... More of this article »
Image for Record Revenue by Apple still below Wall Street Expectations

Record Revenue by Apple still below Wall Street Expectations

Apple on Thursday announced it had record revenue during the third quarter thanks in part to the huge success of its iPhone. However, for the second straight quarter, iPad sales were lower than what had been expected by Wall Street.... More of this article »
Image for Nokia Launches Inexpensive Lumia for Emerging Markets

Nokia Launches Inexpensive Lumia for Emerging Markets

Finnish mobile phone manufacturer Nokia is attempting to make a comeback. Part of its plan of attacking emerging markets was launched today when it unveiled the new Lumina 510, its most inexpensive smartphone with the Windows operating... More of this article »
Image for Lawsuit Claims Wal-Mart Broke Overtime Laws

Lawsuit Claims Wal-Mart Broke Overtime Laws

Wal-Mart Stores Inc. is facing a lawsuit that claims that the world’s biggest retailer and its staffing agencies broke federal minimum wage and overtime laws when it required temporary workers to appear early for work, stay late... More of this article »
Image for Caterpillar Says Sales will Grow Slower in 2013

Caterpillar Says Sales will Grow Slower in 2013

The largest maker in the world of mining and construction equipment, Caterpillar Inc. has forecasted that sales growth during 2013 would slow down and be less than in the last three years, as a deceleration of the global economy takes... More of this article »
Image for AMD to Cut Jobs Due to Decline in PC Sales

AMD to Cut Jobs Due to Decline in PC Sales

Chip manufacturer AMD announced that it would slash 15 percent of its workforce due to the declining PC sales that resulted in the reduction of its revenues. The company said that the cuts were necessary and expected to be completed... More of this article »
Image for Another Quarterly Loss Posted By Nokia

Another Quarterly Loss Posted By Nokia

Nokia, based in Finland, reported on Thursday another quarterly loss. The latest loss for the smartphone maker was its sixth consecutive quarterly loss. The company also announced that its cash reserves had nearly been depleted. This... More of this article »
Image for Strong Dollar Results to Lower Coca-Cola Earnings

Strong Dollar Results to Lower Coca-Cola Earnings

Coca-Cola released its third quarter earnings report and it said that its revenue was below the expectations made by Wall Street. It was the result of the declines in Europe and Asia, where it sold more lower-priced drinks due to economic... More of this article »
Image for A123 Systems Files for Chapter 11

A123 Systems Files for Chapter 11

A123 Systems, which received a grant of $249 million from the government of the U.S., announced on Tuesday it was filing for bankruptcy protection. The announcement gives Republican presidential nominee Mitt Romney yet another reason... More of this article »
Image for Business as Usual during this Weekend’s Carmageddon

Business as Usual during this Weekend’s Carmageddon

The 405 Freeway in western Los Angeles is set to be closed this weekend but it was met with little worries from workers and businesses in the area. They said that it wouldn’t be a problem as people will find a way to get around it. Last... More of this article »
Image for Alcoa Warns, Market Opens Down

Alcoa Warns, Market Opens Down

Stocks on Wall Street opened lower on Wednesday as another round of the quarterly earnings season started with Alcoa warning of slower consumption of aluminum, which underscores the widespread concern over growth worldwide. Other large... More of this article »
Image for New Homes Sales Fall as Prices Go Up

New Homes Sales Fall as Prices Go Up

It looks like the housing market is improving according to the latest report from the Commerce Department. New home sales reached their highest level in two years last August as prices soared to record level in more than five years. The... More of this article »
Image for California Gas Prices Hit Record Highs

California Gas Prices Hit Record Highs

Over the weekend, the price of gasoline in California hit new record highs. The new highs were reached after a surge in prices at the pumps had been propelled by a downfall in inventories in the area to historic lows. The average price... More of this article »
Image for Navistar to Close Some Plants

Navistar to Close Some Plants

Navistar announced that it might have to close some of its plants in order to cut costs. A company spokesperson said that Navistar is currently analyzing its manufacturing footprint. The move came after the company got a new CEO, Lewis... More of this article »
Image for Hewlett Packard Stock Plummets 13%

Hewlett Packard Stock Plummets 13%

On Wednesday, shares of Hewlett-Packard fell to a new 10-year low after Meg Whitman the CEO of the tech company warned the turnaround efforts were going to take much longer than originally thought. The tech company has been hit with... More of this article »
Image for Asian and European Manufacturing Contract Yet Again

Asian and European Manufacturing Contract Yet Again

Asia and Europe’s factory output wilted during September bringing back worries of the return of a recession for the euro zone along with the seventh consecutive quarter of less growth in China. The new data indicated that countries... More of this article »