Market News News Page 7

As reported by the BBC, shares in Hon Hai, owner of Foxconn, fell after the electronic parts maker announced weaker-than-anticipated profits for 2012’s first quarter. Its shares dropped by about 7% during early trading. Last Saturday it reported making a net profit of about NT $14.9 billion ($511 million, or £314 million) during the...

As reported by the BBC, automobile giants Chrysler, Fiat and Volkswagen have all announced surges in first-quarter profits while the world car market recovers. Chrysler, which is now managed by Italy's Fiat, reported net profits of $473 million, its highest quarterly profit in thirteen years. This pushed Fiat’s overall net profits up by...

According to the BBC, IT giant Apple has reported that its profits nearly doubled in January, February and March of 2012. The firm said its net profit reached at $11.6 billion (£7.2 billion), a rise from $6 billion from the same period in 2011 and far better than what was previously expected. The firm sold 35 million iPhones during the...

As reported by the BBC, EU shares have slightly improved from Monday's abrupt falls as investors recuperate from worsening projections of Greek economic contractions and rising Spanish bond yields. Meanwhile, Holland and Italy were forced to pay higher rates to borrow money. France's Cac40 went up by 2.3%, the UK's FTSE 100 rose 0.8%, and...

As reported by the BBC, stock markets have dropped after weak manufacturing figures and political uncertainty in the Netherlands and France hit investor confidence. German shares dropped 3.4%, French stocks fell by 2.8%, UK stocks slid down 1.9%, while Wall Street fell 0.8%. Last Sunday, President Nicolas Sarkozy lost narrowly to...

As reported by the BBC, twin brothers from the UK are facing US civil charges for supposedly swindling investors out of $1.2 million (£745,000) through a sham stock-picking robot. Thomas and Alexander Hunter, from Whitley Bay, North Tyneside, were just 16 when, in 2007, they invented the robot scheme, dubbed Marl, report US officials. The...

As reported by the BBC, Goldman Sachs has reported that its profits dropped 23% in the last quarter, but still defeated analyst expectations. Net income dropped to $2.1 billion (£1.3 billion) during the first three months of 2012, from $2.7 billion during the same period in 2011. The bank said that staff salaries and bonuses were $4.4...

As reported by the BBC, during a rare demonstration of investor discontent, Citigroup shareholders have gone against granting top executives a higher pay deal. The deal, which had raised CEO Vikram Pandit's salary to $15 million (£9 million), was backed by only 45% of shareholders. The board of Citigroup said it would meet with...

As reported by the BBC, struggling Internet company Yahoo has watched its profit climb 28% during the first three months of 2012. The California-based company reported a net income of $286 million for revenue of about $1.08 billion in the quarter. Yahoo has around 700 million users, but has failed to compete with Google in the search...

As reported by Business Week, although Apple had been propelling the Nasdaq forward for most of the year, it has been doing just the opposite during the past few days. The Nasdaq composite index, in which Apple accounts for 12%, was down on Monday afternoon, and dragged lower by the company’s fifth straight day of regression. This was a...