Archive for the ‘Business’ Category

May 21’s Judgment Day, Reports Say

May 21’s Judgment Day, Reports Say

Reports said Thursday that a Christian group is predicting May 21 as the world’s Judgment day, telling people to cry mightily to God. According to this group, the said date is calculated using a formula based on the historical flood that ruined the lives of many and destroyed the earth during the time of Noah. [...]

Cisco Systems’ Q1 net earnings drop $1.8 B

Cisco Systems’ Q1 net earnings drop $1.8 B

Cisco Systems reported its first quarter net earnings dropped to 33 cents a share, or $1.8 billion, from 37 cents a share, or $2.2 billion last year. The company informed that this quarter will be even worse than the low predictions of Wall Street and it presented plans for worldwide job cuts as it troubles [...]

CME Group increases margins for crude oil in US by 25%

CME Group increases margins for crude oil in US by 25%

The CME Group increased its margins for crude oil futures in the United States by 25 percent as of the close trading on May 10 to reduce oil costs following a $5 per barrel on Monday. The move comes after a raged and unstable week of oil business that saw crude costs in the U.S. [...]

Analyst says US average cost of gasoline per gallon jumps 11.98 cents

Analyst says US average cost of gasoline per gallon jumps 11.98 cents

According to an industry analyst, the average cost of a gasoline per gallon in the United States jumped 11.98 cents two weeks ago, but the decline last week in crude oil prices may indicate lower prices to come. The nationwide Lundberg Survey said that on May 6, the nationwide average for regular unleaded gas was [...]

Fannie Mae to request added $8.5 B from taxpayers

Fannie Mae to request added $8.5 B from taxpayers

Fannie Mae, a mortgage finance company, stated that it will request for an added $8.5 billion from taxpayers as it constantly suffering from losses on mortgages made in the past two years. The biggest provider of mortgage funds posted a net loss accountable to common shareholders of $8.7billion, or $1.52 per diluted share, in the [...]

Sony’s Chairman makes apology, offers 1 year free-identity theft protection

Sony’s Chairman makes apology, offers 1 year free-identity theft protection

Howard Stringer, the Chairman of Sony, made an apology and offered users of Qriocity and PlayStation Network (PSN) the United States a one year free identity-theft protection after the hackers infringed its system. The largest customer-electronics exporter in Japan will proffer a $1 million insurance policy for its every user, covering legal expenditures, identity-restoration fees [...]

GM’s Q1 earnings gains $3.2 B

GM’s Q1 earnings gains $3.2 B

General Motors (GM) posted its first quarter earnings gained$3.2 billion as it sold more vehicles in the United States. However, on the point of view of Wall Street, the increased in income of the company was not enough to oppose rising anxieties among investors that an unstable economic recovery and high costs of gas can [...]

Oil Futures Drop after US Economic Data Disappoints

Oil Futures Drop after US Economic Data Disappoints

Oil futures dropped for a fourth day as pressured by a disappointing economic data from the United States, world’s biggest energy consumer, Thursday. According to reports, crude futures for June delivery declined as much as 81 cents to $108.43 a barrel in a global electronic trading session on the New York Mercantile Exchange. The contract [...]

Renren shares jump 30% in New York trading

Renren shares jump 30% in New York trading

Renren, the leading social networking service of China, experienced a jump in its shares by 30 percent on its debut in New York trading. The company, which is based in Beijing and is unregistered in China, valued its initial public offering (IPO) at $14 a share to increase $743 million, at the peak of its [...]

Allergan’s Q1 income drops 5.7%

Allergan’s Q1 income drops 5.7%

Allergan, maker of Botox, reported its income dropped 5.7 percent in the first quarter, but the company showed double-digit sales gain with the help of variety of medical devices and medicines. In addition, the adjusted income and sales of Allergan were ahead both Wall Street and the company’s expectations. The company, which is based in [...]