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Vivendi, the French telecoms and media company, has reported a second quarter drop in net profits. The firm has blamed a 46 per cent fall in profits to €619 million on its struggling telecoms division. Revenues are down by 1.5 per cent to €6.96 billion. Because of the trouble it is currently having with its SFR phone unit, the firm said...

Sharp, the Japanese electronics manufacturer, has seen the value of its stock drop to a 37-year low as analysts fear the firm’s financial losses will grow. Sharp has predicted that its full-year losses will total 100 billion yen. However Goldman Sachs has forecasted that the figure will be closer to 150 billion yen. Deutsche Securities...

Groupon, the US voucher provider, has seen the value of its stock drop despite declaring a profit in the last quarter along with increased revenue. However, analysts in New York had expected the company to do much better causing shares to drop by more than a quarter. Groupon said on Monday that net income had risen to $28.4 million in the...

A private equity group has offered to buy Chinese advertising firm Focus Media. The consortium has said that it is willing to pay $27 per share for the company which was recently embroiled in accusations of accounting fraud. The offer means that the group, which includes Focus Media’s chief executive, has valued the advertiser at around...

Standard Chartered bank has been accused by the US of laundering billions of dollars of money from Iran over the past decade even though many of the Iranian institutions the bank was dealing with were subject to US sanctions. According to the New York State Department of Financial Services up to $250 billion has been laundered and...

International Airlines Group shares dropped 5.2 per cent on Friday after the Iberia and British Airways owner announced a 390 million euro loss for the half-year ending in June. This is compared to pre-tax profits of 39 million euros for the same period a year earlier. According to the group the losses were mainly due to the problems being...

UBS has blamed a loss of 349 million Swiss francs on problems associated with the flotation of Facebook. The Swiss bank is claiming that a mishandling by Nasdaq meant that it ended up with far more shares in the social networking site than it had initially ordered. Facebook shares have tumbled in price following the stock exchange...

Facebook shares dropped to an all time low last week after the social networking site published its first ever quarterly results since becoming a public company. The company said that for the quarter ending in June it had lost $157 million. When it first listed on the Nasdaq back in May the price per share was $38. Last week saw that price...

Shareholder payments have resulted in Facebook declaring a $157 million loss. The results are the first to be released by the social networking giant since it listed on the stock market in May. Expenses and costs for the three month to June rose to $1.93 billion, an increase of 295 per cent on a year earlier. If staff share schemes had...

Following an announcement that it will be axing 8,000 jobs and closing down one of two Paris factories, carmaker Peugeot has declared losses of 819 million euros for the six months ending in June. This is compared to an 806 million euro profit during the same period a year ago. Peugeot has predicted that it is unlikely to begin breaking...