Top Headlines - part 75
FINANCE October 28, 2011 | 10:32 AM
- Shell's revenue up 33% to $127 billion, net profit up to $6.98 billion
- Shares rise 1.3% to €26.24
- Global oil prices 48% higher than last year
Global oil and gas leader Royal Dutch Shell has reported profit of almost $7 billion, doubling third-quarter profit from last year thanks in large part to rising oil prices. Net profit came through at $6.98 billion, compared to predictions of $6.54 billion from analyst at investment research firm FactSet.
Revenue jumped 33% to $127 billion, and shares were up 1.3% to €26.24 in Thursday morning trading in Amsterdam.Read more »
FINANCE October 28, 2011 | 9:34 AM
- Weak Wii, 3DS sales lead to Q2 loss
- Forecast for 20 billion yen ($264 million) loss
- Post-war high for yen compounds difficulties
Nintendo posted its second straight loss of the year yesterday, prompting executives to forecast the company’s first annual loss in over three decades.
Slow second-quarter sales of its Wii and 3DS handheld console dragged the world’s biggest video game maker further into the red, with expectations of as much as 20 billion yen ($264 million) in losses for the fiscal year ending March. Sales forecasts also dropped 12% to 790 billion yen.Read more »
BUSINESS October 28, 2011 | 9:01 AM
- 71% rise in UK requests to remove online content
- Google complied in 80% of 65 content removal requests
- Brazil tops list with 224 requests followed by Germany (118), United States (92)
Internet giant Google has reported a 71% jump in the United Kingdom of official requests to remove material from its web search results and YouTube video site. Between January and June 2011, there was a total 65 requests from the UK government and court authorities, demanding the removal of 333 various forms of internet content.
Google said that in over 80% of requests it either fully or partially complied with the orders.Read more »
BUSINESS October 27, 2011 | 4:56 PM
- Groupon to launch IPO on Nov. 4 with 30 million shares
- Valuation estimated to reach up to $11.4 billion
- US roadshow planned to present investors with figures, starting in New York
Despite recent criticism from market analysts, online coupon giant Groupon.com is set to launch its IPO on November 4 after a US-based roadshow – offering 30 million shares at $16-$18 per share.
Although it has scaled back considerably from its original plans for a $750 million IPO, Groupon disclosed at a recent regulatory filing that it now expects net proceeds of approximately $480 million from its upcoming initial public offering. While the stock offered in the IPO represents only around 5% of the entire company, upon sale of its offered shares valuation is estimated to reach between $10.1 billion and $11.4 billion, or just a little less than 50% of its original IPO estimate of $20 billion.Read more »
ECONOMY October 27, 2011 | 2:47 PM
- Obama to reduce student loan payments, lower pardon to 20 years
- Tuition at public schools rises 8.3%, twice inflation rate
- Student loans reach $100 billion, debt to exceed $1 trillion this year
Among concerns of rising student debt and tuition costs, Obama announced publicly at the University of Colorado his new relief plan for those suffering from excessive student loans.
The new measures will allow over 6 million students to bundle and consolidate some federal loans into one monthly payment.Read more »
FINANCE October 27, 2011 | 2:16 PM
- Shares rise 5.2% to €63.09 ($87.76) - biggest rise on Frankfurt Stock Exchange in almost 3 years
- Q3 net profits rise 8% to €226.6 million ($315.2 million)
- Company discontinues seven drug treatment programs
Shares in German pharmaceutical company Merck rose more than 5% on the Frankfurt Stock Exchange yesterday, surpassing all estimations in its third quarter financial results.
Third quarter net profit jumped almost 8% to €226.6 million ($315.2 million), up from €210.8 million for the same period last year and well above the €180 million industry experts had been predicting. Revenue rose 3.8% to €2.5 billion, marginally higher than expectations.Read more »
FINANCE October 27, 2011 | 10:34 AM
- Private Medicare Advantage plans make up 25% of Medicare plans
- Cigna currently has Medicare Advantage customer base of 45,000, ranks 5th in US among insurers
- HealthSpring per-member worth well above average at $3,200
Health insurance company Cigna Corp is to buy Tennessee-based healthcare plan outfit HealthSpring for $3.8 billion. HealthSpring runs a nationwide prescription drug plan and Medicare Advantage plans in several states including Washington, Texas, New Jersey and Florida.
The Medicare market is luring health insurers as an ageing US population enters retirement and is opting for private Medicare Advantage plans. These private plans make up around 25% of Medicare plan registrations at present, or 46 million beneficiaries, while 75% are accounted for by state-run plans.Read more »
BUSINESS October 26, 2011 | 5:49 PM
- Android global mobile app market share up to 44% in Q2 2011
- Apple iOS app share drops to 31%
- Android quarterly shipments up 36%, iOS down 9%
Google’s Android has overtaken Apple iOS in the global mobile applications market, according to market intelligence firm ABI Research. In the second quarter of 2011, the Android operating system became the number-one mobile apps player with 44% of the market, pushing iOS back into second spot with a 31% share.
Google’s mobile device platform has proven much more popular than ABI had predicted, with analysts back in 2009 forecasting a potential market share of 23% by 2014. The bulk of the growth seems to have come this year, with ABI research from August 2010 showing Apple was still dominating the market at 52% of app downloads going to iOS.Read more »
BUSINESS October 26, 2011 | 5:27 PM
- IATA reports sharp drop in premium air travel, raising concerns about rebounding market
- Not all sectors are down - tickets sold in Far East up 12.5%
- Airlines looking to revamp packages to halt trend
After rising sharply this summer, premium travel has fallen back to the fourth-quarter levels of last year, with the International Air Transport Association (IATA) reporting a drop for the month of August - the most recent month for available statistics.
IATA says economy-class travel also decreased but not as much as premium.Read more »
BUSINESS October 26, 2011 | 12:20 PM
- FedEx holiday deliveries to jump 12% to 260 million
- 17 million packages to be shipped on busiest day – 10% more than 2010
- 20,000 seasonal workers to be hired to deal with volume increase
- Company stock rises 2.7% to $81.52
FedEx is preparing for a massive jump in United States deliveries, with projections indicating it may be its busiest festive season on record. The world’s second-biggest parcel deliverer has projected demand between Thanksgiving and Christmas to rise as much as 12% to over 260 million packages.
On its busiest day, expected to be December 12, up to 17 million deliveries should be processed – 10% more than its peak in 2010.Read more »