World Business
Toyota profit more than doubles
posted: 05/09/2013 3:42 a.m. Discuss
Toyota’s quarterly profit more than doubled to $3.2 billion as cost cuts and better sales worked with a weakening yen to add momentum to the automaker’s comeback.
Poles’ hope for gas boom quick to dry
posted: 05/09/2013 3:36 a.m. Discuss
News that Talisman Energy Inc. is pulling out of exploration for shale gas in Poland is a blow to the country’s hopes that its deposits of the hydrocarbon will soon cut its dependence on Russian supplies and support the weakening economy.
At WTO, Cuba disputes Australia tobacco rules
posted: 05/09/2013 3:31 a.m. Discuss
Cuba is seeking to overturn Australia’s tough tobacco-labeling rules at the World Trade Organization, the trade body said Monday, the first time the communist controlled country has made use of the forum to directly confront another nation over its commercial laws.
Business news in brief
posted: 05/09/2013 3:30 a.m. Discuss
QUOTE OF THE DAY “We continue to notice glaring discrepancies between China and its trade partners’ data, and so again suggest caution in interpreting the report.” Wei Yao, Societe Generale analyst, on China’s April trade report Article, 1D
Riding optimism, Dow ends above 15,000, a first
posted: 05/08/2013 3:52 a.m. Discuss
The Dow Jones industrial average charged higher Tuesday, closing above 15,000 for the first time, two months after recovering the last of its losses from the financial crisis.
To Beijing’s dismay, SUV sales take off
posted: 05/08/2013 3:45 a.m. Discuss
BYD is known for electric cars, but this year’s flagship model is the S7, a gasoline-powered sport utility vehicle. It comes with an air purifier, radar to help with backing up and digital TV. An onboard hard drive can hold 1,000 films.
Business news in brief
posted: 05/08/2013 3:31 a.m. Discuss
QUOTE OF THE DAY “Household balance sheets have been improving quite a bit. Gains in home and equity prices are helping.” Sam Coffin, UBS Securities LLC economist Article, 1D
Italy woos Spain on economic idea
posted: 05/07/2013 2:53 a.m. Discuss
MILAN — Italian Premier Enrico Letta sought support Monday from his Spanish counterpart, Mariano Rajoy, in his quest to have Europe focus more on economic growth instead of debt reduction only.
China backs oil firms in hunt for energy
posted: 05/05/2013 2:40 a.m. Discuss
HONG KONG — Cnooc Ltd.’s offering of as much as $4 billion of dollar-denominated debt follows record April bond sales by China’s oil companies, showing state support for an accelerated global hunt for energy resources.
Outlook bleak for Europe’s economy
posted: 05/04/2013 3:13 a.m. Discuss
The economic outlook for the European Union has deteriorated, and the recession and unemployment blighting the eurozone are expected to worsen, the European Commission warned Friday.
Import lull shrinks trade gap 11%
posted: 05/03/2013 3:27 a.m. Discuss
The U.S. trade deficit narrowed more than forecast in March to its second-lowest level in three years as imports of consumer goods and business equipment declined.
Interest rate cut to 0.5% in Europe
posted: 05/03/2013 3:26 a.m. Discuss
The European Central Bank cut its key interest rate to a record low 0.50 percent Thursday and announced other measures to spur lending and help lift the eurozone out of a stubborn recession.
GM profit falls 14% but tops predictions
posted: 05/03/2013 3:23 a.m. Discuss
General Motors’ net income fell 14 percent in the first quarter, as it earned less money in North America while preparing to introduce a redesigned version of its best-selling vehicle, the Silverado pickup.
U.S. fishes for tax cheats at a bank in Caribbean
posted: 05/03/2013 3:22 a.m. Discuss
The U.S. government has obtained a court order to collect the names of U.S. taxpayers who had accounts with CIBC FirstCaribbean International Bank over an eight-year period that ended Dec. 31 without disclosing it to the Internal Revenue Service.
MARKET REPORT: Jobless-claims drop rouses stocks
posted: 05/03/2013 3:21 a.m. Discuss
Stocks rose Thursday after unemployment claims fell to a five-year low. On Wednesday it was just the opposite: The market slumped after companies added just 119,000 jobs in April, the fewest in seven months, according to payroll processor ADP.
