Home

Business and Finance News

  • U.S. stocks end higher after early struggle

    U.S. stocks end higher after early struggle

    Sri Lankan News.Net

    A surge in bank shares returned the major indices to the black Thursday, after rough sailing earlier in the day.

  • India and China compete for Sri Lankan work

    India and China compete for Sri Lankan work

    Sri Lankan News.Net

    Sri Lanka will soon build a second international airport on the south of the island, with much of the money coming from China.

  • Talks fail in BA/Unite meetings

    Talks fail in BA/Unite meetings

    Sri Lankan News.Net

    There has been no agreement reached between British Airways and the Unite union.

  • Toyota sales still brisk in US

    Toyota sales still brisk in US

    Sri Lankan News.Net

    The US sales of Toyota vehicles declined nearly 9 percent in February.

  • Chrysler Fiat branch to be run by ex-exec from Volkswagen

    Chrysler Fiat branch to be run by ex-exec from Volkswagen

    Sri Lankan News.Net

    The Chrysler Group in the US has named a new executive to head the reintroduction of the Fiat brand to the local market.

  • Fund-poor schools close in Missouri

    Fund-poor schools close in Missouri

    Sri Lankan News.Net

    In the US, the school board in Kansas City has decided to close 26 of the city's 59 public schools to keep the district afloat financially.

  • Forbes says Slim has the fat bank balance

    Forbes says Slim has the fat bank balance

    Sri Lankan News.Net

    Mexican telecom giant Carlos Slim has topped Forbes magazine's billionaire's list.

  • Northern Rock did better than expected

    Northern Rock did better than expected

    Sri Lankan News.Net

    The Northern Rock bank in the UK has announced good progress throughout 2009 as it prepares to be sold.

  • Hawaii beckons for Orange County travellers

    Hawaii beckons for Orange County travellers

    Sri Lankan News.Net

    The John Wayne Airport in Orange County, California has been given permission to once again run flights to and from the Hawaiian islands.

  • Caviar to be produced by Russian firm in Argentina

    Caviar to be produced by Russian firm in Argentina

    Sri Lankan News.Net

    A Russian company has gone to Argentina to increase its supply of caviar.

  • Forbes says Gates no longer the world's richest

    Sri Lankan News.Net

    Mexican tycoon Carlos Slim is the world's richest person, knocking Microsoft founder Bill Gates into second spot, as the wealth of the world's billionaires grew by 50 per cent over the last year.

  • Emaar Properties in resort proposal to Indonesian government

    Emaar Properties in resort proposal to Indonesian government

    Sri Lankan News.Net

    Gulf company, Emaar Properties, has announced it will restart discussions with the Indonesian government on a project that was postponed during the economic crisis.

  • Ulta Salon Expects Earnings And Sales Growth

    Sign on San Diego

    NEW YORK — Ulta Salon Cosmetics & Fragrance Inc. on Thursday said it expects its earnings per share to double or nearly double in its fiscal first quarter compared with a year ago. The beau...

  • Farm Product Make Agrium Says It's Abandoning Its Bid For Rival Fertilizer Maker Cf Industries

    Star Tribune

    NEW YORK - Agricultural products company Agrium Inc. said Thursday that it will let its offer to acquire CF Industries Holdings Inc. expire on March 22 and stop pursuing the deal. Agrium, based in C...

  • Bipartisan Talks Stall; Dodd Decides To Go-it-alone In Offering A Financial Regulation Bill

    Star Tribune

    WASHINGTON AP) — Unable to muster bipartisan agreement on key banking provisions, Senate Banking Committee Chairman Christopher Dodd said Thursday he will offer his own version of a sweeping ove...

  • Credo Petroleum's '09 Earnings Ride High

    Rigzone

    Credo Petroleum reported financial results for the quarter ended January 31, 2010. For the first quarter, net income was $639,000, or $.06 per diluted share, compared to a net loss of $9,891,000, or ...

  • Earnings Roundup: Xoma, Pacific Sunwear

    Miami Herald

    Among the earnings stories for Thursday, March 11, from AP Financial News:BERKELEY, Calif. (AP) - Biotechnology company Xoma Ltd. said its fourth-quarter profit fell as its contract revenue dipped.ANA...

  • Walt Disney Bets On Southern Audience

    The Hindu

    MUMBAI: The Walt Disney Company in India on Thursday announced its first locally developed studio project aimed specifically at southern audiences. The yet to be named epic fantasy adventure is to be ...

  • No New Taxes Or Vat Rise In Budget, Says Treasury Minister Liam Byrne

    Guardian

    Chief secretary to the Treasury Liam Byrne says chancellor Alistair Darling will not be raising taxes in the budget. Photograph: Lewis Whyld/PA The government will not be raising new taxes, includin...

  • Citigroup Ceo Says Bank On Path To Profitability

    Examiner

    Citigroup Inc. is poised to return to "sustained profitability" as it sheds risky assets and focuses on emerging markets, CEO Vikram Pandit said Thursday.Investors embraced his bullish view, sending C...

  • Earnings Roundup: Xoma 4q Profit Falls On Weak Contract Revenue, Pacific Sunwear Loss Widens

    Canadian Business

    (AP) - Among the earnings stories for Thursday, March 11, from AP Financial News: BERKELEY, Calif. (AP) — Biotechnology company Xoma Ltd. said its fourth-quarter profit fell as its contract rev...

  • Chevron May Proceed With Arbitration Over Ecuador

    Business Week

    March 11 (Bloomberg) -- Chevron Corp., the second-largest U.S. oil company, may proceed with an arbitration stemming from a court fight over an environmental cleanup in Ecuador that might cost as much...

  • Solar Power Inc. Delays Earnings Report

    Business Journal

    Solar Power Inc. has rescheduled the release of its fourth quarter and fiscal year 2009 earnings until the company’s audit is complete, Solar Power announced Thursday. The earnings results will...

  • National Beverage Q3 Earnings Pop

    Business Journal

    said on Thursday it had its best third quarter in the company’s history. The Fort Lauderdale-based soft drink company (NASDAQ: FIZZ) said net income for the third quarter was $5.5 million, up f...

  • Coca-cola Femsa Bottler To Change Bylaws

    The Seattle Times

    Drinks company Fomento Economico Mexicano SAB said Wednesday its bottler, Coca-Cola FEMSA, plans to change its bylaws so a simple majority of its board can appoint and set compensation of the CEO and ...

  • Summary Box: Exxon Mobil Forecast $28b Spending

    The Seattle Times

    FOLLOW THE MONEY: Exxon Mobil Corp. will increase its capital spending by 3 percent to $28 billion this year despite weak global demand for energy. It forecast capital spending between $25 billion and...

  • Earnings Roundup: Xoma, Pacific Sunwear

    Seattle Post-Intelligencer

    THE ASSOCIATED PRESS Among the earnings stories for Thursday, March 11, from AP Financial News: BERKELEY, Calif. -- Biotechnology company Xoma Ltd. said its fourth-quarter profit fell as its contr...

  • Ulta Salon Expects Earnings And Sales Growth

    Seattle Post-Intelligencer

    THE ASSOCIATED PRESS NEW YORK -- Ulta Salon Cosmetics & Fragrance Inc. on Thursday said it expects its earnings per share to double or nearly double in its fiscal first quarter compared with a ...

  • Regulator Faults Wall Street Banks On Derivatives

    Salt Lake Tribune

    Washington » Wall Street banks are seeking exemptions to proposed new financial derivatives rules that could shield more than half the trades that should be subject to disclosure, a federal regu...

  • Government May Tighten Car Safety Standards

    MSNBC

    March 11: The head of the National Highway Traffic Safety Administration testifies before Congress about his agency's investigation into the safety of Toyota vehicles. NBC's Tracie Potts reports.

  • Sec Head Urges Congress To Act On Derivatives

    MSNBC

    WASHINGTON - The government's top securities regulator is calling anew for Congress to impose new oversight on financial derivatives, warning that allowing risky instruments like credit default swaps ...

  • The 25 Richest Counties In The United States

    MSNBC

    Except, perhaps, in Loudoun County, Va., where median household incomes are higher than anywhere else in the country. This affluent suburb of Washington, D.C., where families take home a median $110,6...

  • Citigroup Ceo Says Bank On Path To Profitability

    Associated Press

    NEW YORK (AP) -- Citigroup Inc. says it's heading back toward sustained profitability after two years that saw the bank lose billions of dollars and be bailed out by the government.

  • Al Franken Jokes, But Google Fiber Is No Laughing Matter

    Wired News

    Now U.S. Senator Al Franken has been enlisted to lobby Google in a bid by two midwestern cities to get free upgrades to gigabit internet connections. Comedy from the funniest man in Congress may give ...

  • Wall St Claws Out Late Rally On Upbeat Citi

    The Daily Telegraph

    US SHARES staged an 11th hour rally to close higher overnight after the head of Citigroup, Vikram Pandit, said he was sure the bank was on track for a sustainable recovery, lifting sentiment.

  • Wall St Claws Out Late Rally On Upbeat Citi

    The Daily Telegraph

    US SHARES staged an 11th hour rally to close higher overnight after the head of Citigroup, Vikram Pandit, said he was sure the bank was on track for a sustainable recovery, lifting sentiment.

  • Wall St Claws Out Late Rally On Upbeat Citi

    News.com.au

    US SHARES staged an 11th hour rally to close higher overnight after the head of Citigroup, Vikram Pandit, said he was sure the bank was on track for a sustainable recovery, lifting sentiment.

  • Wall St Claws Out Late Rally On Upbeat Citi

    The Courier Mail

    US SHARES staged an 11th hour rally to close higher overnight after the head of Citigroup, Vikram Pandit, said he was sure the bank was on track for a sustainable recovery, lifting sentiment.

  • Doctor Pepper Upgraded By Ubs

    Fox Business

    DPS ) from neutral to buy, citing the company's strong fundamentals and a share buyback program. The brokerage also raised its price target on Doctor Pepper to $42 from $31. Doctor Pepper has recei...

  • Pfizer Says Two Breast Cancer Drug Studies Fail

    Fox Business

    SAN FRANCISCO -- Pfizer Inc. said late Thursday two late-stage studies of an approved kidney cancer drug failed to treat breast cancer significantly, and that it will also halt an unpromising late-st...

  • Muni Market Optimism Helps California, Detroit Sell Bonds

    Fox Business

    NEW YORK -(Dow Jones)- In a measure of investors' optimism--or at least their risk tolerance--two financially troubled municipal issuers, California and Detroit, easily completed debt sales Thursday....

  • Imf To Send Staff To Honduras For Econ Assessment

    Fox Business

    Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- The International Monetary Fund plans to send a staff mission to Honduras next week, the IMF said Thursday. The team will be the first from the IMF to ...

  • At&t Ceo Stephenson's Pay Jumped To $29.2 Million In 2009

    Fox Business

    T ) Chairman and Chief Executive Randall Stephenson's pay package last year nearly doubled to $29.2 million on changes in pension value and incentive-plan compensation. His package in 2008 totaled $...

  • Data Snap:new Zealand's Jan Adjusted Retail Sales +0.8% On Month, Consensus +0.5%

    Fox Business

    Of Dow Jones Newswires WELLINGTON -(Dow Jones)- New Zealand retail sales rose in January from December beating the consensus forecast, official data showed Friday, showing consumption is on the rise ...

  • A-power Energy Tapped To Develop Wind Turbine Plant

    Fox Business

    APWR ) and two other companies have been tapped to develop a wind turbine production plant in Nevada. The plant, which will supply wind turbines to renewable energy projects throughout the country w...

  • Market Snapshot: U.s. Stocks Up For Third Day As Banks Rally

    Fox Business

    U.S. stocks picked up traction late Thursday, for a third straight day of gains, after Citigroup Inc. said the bank is on its way to sustainable profitability and as Democrats gave up on a bipartisan...

  • Cuomo Appoints Independent Counsel To Investigate Paterson

    Fox Business

    Saying there were “credible issues that need to be resolved,” New York State Attorney General Andrew Cuomo announced Thursday he will appoint an independent counsel to investigate two separate in...

  • Movie "avatar" Has Few Fans Among Mining Execs

    Reuters

    In a case of art imitating life -- with perhaps a little poetic license -- Oscar-winning movie "Avatar" paints big mining companies as the villains of the future.

  • Alberta Revamps Oil And Gas Royalty Regime

    Financial Post

    CALGARY -- Alberta, responding to more than two years of harsh criticism, has once again revamped its conventional oil and gas royalty regime, this time returning to rates similar to those announced b...

  • Clairvest's N.y. Casino Deal Folds

    Financial Post

    Gamers play the slot machines at the Empire City Casino in Yonkers, New York. The Aqueduct Entertainment Group consortium was denied a licence to operate a similar facility at Queens. N.Y. track.