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US Business

Nintendo Posts Loss on Yen

Thu, 29 Jul 2010 05:07:06 EDT

Nintendo swung to a net loss in the April-June period as the yen's strength hurt overseas operations, which accounted for 87% of revenue.

VW Net Soars on Sales, Euro

Thu, 29 Jul 2010 08:35:02 EDT

Volkswagen posted a sharply higher net profit thanks to higher vehicle sales and the fall in the value of the euro.

PartyGaming, Bwin Merge

Thu, 29 Jul 2010 08:45:51 EDT

U.K.-listed gambling company PartyGaming PLC plans to merge with Austrian sports-book operator Bwin Interactive Entertainment, creating the world's largest listed online-gambling business.

EU Rejects Appeal for Bud Trademark

Thu, 29 Jul 2010 10:22:08 EDT

Europe's highest court rejected Anheuser-Busch InBev's appeal that it be allowed to register the Budweiser brand as its trademark in Europe.

Covidien Profit Rises 30%

Thu, 29 Jul 2010 08:14:32 EDT

Covidien's earnings climbed 30% as stronger medical-device sales boosted the bottom line.

Northrop Grumman Net Jumps

Thu, 29 Jul 2010 10:19:40 EDT

Defense contractors posted mixed results, with Northrop Grumman reporting an 80% jump in profit, while Raytheon's earnings sunk 57%.

Motorola's Profit Surges

Thu, 29 Jul 2010 10:18:30 EDT

Motorola posted sixfold increase in second-quarter profit, largely driven by noncellphone units ahead of the company's planned split next year.

Tech Firms Lobby EU on Privacy

Thu, 29 Jul 2010 08:43:04 EDT

Microsoft, Google and other U.S. tech giants are pushing to streamline Europe's privacy rules in order to offer more remote computing and data-storage services. Some European governments are resisting.

Contracts and Cost Cutting Boost BT

Thu, 29 Jul 2010 06:35:33 EDT

BT reiterated that it is in talks with the U.K. government over plans to slash public spending as it kept its outlook and posted solid results underpinned by contract wins and further cost cutting.

Toyota Issues Recall in U.S., Asia

Thu, 29 Jul 2010 10:30:57 EDT

Toyota is recalling more than 400,000 vehicles, mostly Avalon large sedans, for steering system flaws that could develop over time and lead to a loss of control.

Bunge Profit Soars on Divestiture Gain

Thu, 29 Jul 2010 08:47:46 EDT

Bunge earnings soared as the farm-products company recorded on a gain from the sale of its Brazilian fertilizer business.

Moody's Earnings Top Estimates

Thu, 29 Jul 2010 09:03:26 EDT

Second-quarter earnings at bond ratings firm Moody's rose 11%, beating analysts' estimates, as revenue from U.S. operations helped offset weakness in international markets.

Sony Swings to Profit

Thu, 29 Jul 2010 09:40:25 EDT

Sony posted strong results for the fiscal first quarter, and CEO Stringer said he expects the momentum to continue amid gains from a restructuring.

Colgate-Palmolive Profit Rises

Thu, 29 Jul 2010 08:04:25 EDT

Colgate-Palmolive earnings rose 7.3% as the consumer-products company's sales and volume continued to improve.

Profit Falls at Japan Telecoms Firms

Thu, 29 Jul 2010 06:59:44 EDT

Japan telecom operators Softbank and NTT DoCoMo reported a decline in net profit for the April-June quarter, but they both kept their earnings outlook unchanged for the full year.

Thomson Reuters Profit Falls

Thu, 29 Jul 2010 07:48:04 EDT

Thomson Reuters said profit declined 8.6% on lower revenue from its markets division, but it expects total revenue to grow in the current quarter.

Avis Tops Hertz Bid For Dollar

Thu, 29 Jul 2010 06:37:54 EDT

Avis entered its $46.50-a-share bid for Dollar Thrifty, topping a competing offer from car-rental rival Hertz.

Spain Weighs on Santander Net

Thu, 29 Jul 2010 09:39:47 EDT

Banco Santander said that its second-quarter net profit fell 8%, as a drop in profit in continental Europe offset higher earnings at its Latin American and U.K. operations.

Southwest Profit Jumps

Thu, 29 Jul 2010 08:52:08 EDT

Southwest said its profit jumped 23% as the discount giant benefited from a recovery that has lifted performance for airlines.

CME Profit Climbs 22%

Thu, 29 Jul 2010 07:57:17 EDT

CME Group's second-quarter earnings rose 22%, and adjusted results topped analysts' forecasts, as the world's biggest operator of derivatives exchanges again benefited from increased volume.

RadioShack Net Rises

Thu, 29 Jul 2010 07:53:03 EDT

RadioShack's profit climbed 8.6% as the electronics retailer continued to rope in wireless-device consumers.

Avon Profit Shines

Thu, 29 Jul 2010 09:55:15 EDT

Cosmetics company Avon Products said second-quarter profit rose, helped by demand in developing markets, which offset a decline in the U.S.

Higher Output Boosts Shell's Net

Thu, 29 Jul 2010 08:18:53 EDT

Royal Dutch Shell posted a 15% rise in net profit, as oil and gas production rose 5% and cost cutting accelerated.

BP Aims to Sell Venezuela Assets

Thu, 29 Jul 2010 09:40:14 EDT

BP is in talks to sell its stakes in oil projects in Venezuela to its Russian joint venture TNK-BP, part of a $30 billion asset disposal program designed to help it meet the costs of the Gulf of Mexico oil spill.

Panasonic To Buy Out Two Units

Thu, 29 Jul 2010 10:38:31 EDT

Panasonic said it will spend up to $9.4 billion to buy all remaining shares in Sanyo Electric and Panasonic Electric Works.

Essar, Vodafone Mull Joint-Venture IPO

Thu, 29 Jul 2010 08:41:24 EDT

The chief executive of Essar said the Indian conglomerate is in early talks with Vodafone Group about an initial public offering for their joint venture, Vodafone Essar.

Exxon Profit Soars 91%

Thu, 29 Jul 2010 09:54:14 EDT

Exxon earnings jumped as the oil giant rebounded from the prior year's weak performance on higher commodities prices and improved refining margins.

FSA to Expand Bonus Rules

Thu, 29 Jul 2010 09:23:51 EDT

The U.K.'s financial regulator said that it plans to change bonus rules for the financial services industry, which could include imposing the changes on all banks, asset managers and hedge funds.

Barclays Makes a Splash in Financing

Wed, 28 Jul 2010 22:44:16 EDT

Bad loans helped destroy Lehman Brothers. Now the firm's survivors hope fresh lending will help burnish the reputation of new employer Barclays Capital.

Nissan Swings to Profit

Thu, 29 Jul 2010 07:57:46 EDT

Nissan Motor swung to a net profit in the fiscal first quarter, as sales of small cars in Japan, stronger auto demand in the U.S. and cost-cuts offset the yen's strength.