Business News

The Boston Globe (October 24, 2014)
Caterpillar CEO Douglas Oberhelman said he is hopeful economic growth will pick up next year. Caterpillar Inc.'s belt-tightening paid off in the third quarter as the maker of heavy construction and mining equipment beat Street expectations and raised its outlook for the year. The company has wrestled with a weaker global economy and took a restructuring charge to cut costs. Illinois-based Caterpillar reported net income of $1.02 billion, or $1.63 per share, compared with $951 million, or $1.45,...
The Boston Globe (October 24, 2014)
NEW YORK — Coca-Cola Co. is replacing its chief marketing officer as the world's biggest beverage maker fights to boost flat soda sales.
The Boston Globe (October 24, 2014)
BEIJING — China may ban Facebook, but not its cofounder Mark Zuckerberg. The young billionaire delighted an audience of students at a prestigious Beijing university this week with a 30-minute chat in his recently learned Mandarin Chinese. He made no explicit mention of China's ban of the social media giant, but an indirect reference to it drew laughter during the question-and-answer session Wednesday at Tsinghua University. Zuckerberg, whose company has long sought to enter China, noted...
The Boston Globe (October 24, 2014)
GM said it expects its margins in North America will continue to improve in the fourth quarter. Above, a 2015 Chevrolet Silverado was displayed at a dealership in Florida. DETROIT — General Motors Co. reported third-quarter earnings of $1.38 billion Thursday, nearly doubling its $698 million profit from the period a year earlier as margins improved in its core North American operations. For most of the year, GM has been grappling with about $4 billion in costs associated with safety recalls.
The Boston Globe (October 24, 2014)
DALLAS — More passengers and lower fuel prices are pushing Southwest Airlines Co. to record profits, and the airline expects an even bigger break at the gas pump this winter.
The Boston Globe (October 24, 2014)
The possibility of locking in a mortgage rate below 4 percent can be tantalizing for potential homebuyers. WASHINGTON — Average US long-term mortgage rates continued to slide this week, raising prospects of a wave of consumers refinancing their loans. The 30-year mortgage fell further below 4 percent.
Chicago Tribune (October 24, 2014)
Chicago-based United Continental Holdings, parent of United Airlines, on Thursday said it doubled earnings to book its highest quarterly profit on the strength of higher revenue and lower costs. Meanwhile, American Airlines, now merged with US Airways, said Thursday that third-quarter net income soared 87 percent. And Southwest Airlines reported that profit rose about 27 percent, after months of new route announcements overseas and from Dallas Love Field airport. In its conference call Thursday,...
The New York Times (October 24, 2014)
DETROIT -- General Motors' quarterly earnings report on Thursday was noteworthy mostly for what it lacked: another big financial charge for safety recalls. After running up special charges of nearly $3 billion in the first half of the year for safety problems, G.M., the nation's biggest automaker, avoided additional charges for recalls in the third quarter. While G.M. did incur $700 million in costs for fixing recalled vehicles during the quarter, the company had already booked those charges in...
The New York Times (October 24, 2014)
SEATTLE -- Sales in the PC business are still in the dumps. Traditional software sales are losing steam to cloud services. And many venerable technology companies are struggling to leap from the old way of doing things to the new. Microsoft? Steady as she goes.
The New York Times (October 24, 2014)
AMC Networks, the home of the AMC, SundanceTV, IFC and WE tv channels, said on Thursday that it was spending $200 million for a 49.9 percent stake in BBC America, the United States television network owned by the commercial arm of the British Broadcasting Corporation.
The New York Times (October 24, 2014)
Comcast, the country's largest cable operator, predicts that television groups like HBO and CBS will face steep challenges introducing streaming services that do not require cable subscriptions and that people will continue to pay for a bundle of television and Internet services in the years to come. Stephen B. Burke, chief executive of NBCUniversal, said he was ''surprised'' by announcements last week that both HBO and CBS would start subscription streaming services. He said that HBO risked...
The New York Times (October 24, 2014)
Credit Suisse said on Thursday that its third-quarter profit more than doubled, thanks to gains in its trading business and stronger equity underwriting. But the bank added that it had a ''mixed start to October'' amid choppy markets.
The New York Times (October 24, 2014)
SAN FRANCISCO -- It happened many weeks ago, but salesmen at a suburban AT&T store here still vividly recall the customer who bought an Amazon Fire phone. They remember her because they haven't sold another Fire since. Professional reviews of the phone were mixed, but the ultimate arbiters -- consumers -- decisively rejected it. At many companies, such an expensive and high-profile stumble would prompt endless analysis, a deflated stock and perhaps even questions about whether management was up...
Orlando Sentinel (Florida) (October 23, 2014)
Orlando's Tupperware Brands suffered disappointing third-quarter sales and profits, the storage-container maker reported Wednesday. Net sales fell 2.4 percent to $588.7 million and net income dropped 35 percent to $32.3 million, compared with the third quarter of 2013.
Orlando Sentinel (Florida) (October 23, 2014)
DETROIT -- U.S. safety regulators Wednesday expanded to nearly 8 million the number of vehicles in the United States that may be affected by recalls for potentially defective Takata air bags that could spray shrapnel at occupants.
Sun-Sentinel (Fort Lauderdale, Florida) (October 22, 2014)
-- McDonald's, the world's largest restaurant chain, said third-quarter profit fell 30 percent as U.S. sales slumped for the fourth straight quarter.
Sun-Sentinel (Fort Lauderdale, Florida) (October 22, 2014)
Dish Network has stopped carrying Turner Broadcasting System's channels, including CNN, Cartoon Network and Adult Swim, as the companies failed to renew their distribution deal. Turner Broadcasting, a unit of Time Warner, said Tuesday it worked for months to come to an agreement with Dish and accused the satellite TV company of "operating in a disruptive manner." "We regret the service disruption to our customers and remain committed to reaching an agreement," said Warren Schlichting, Dish's...
The Boston Globe (October 23, 2014)
The board of the Massachusetts Department of Transportation voted unanimously Wednesday to approve a $566.6 million contract for CNR MA Corp., a subsidiary of a Chinese state-owned enterprise that is the world's largest railcar manufacturer, to build Red and ­Orange line cars. The contract to supply 284 cars to the Massachusetts Bay Transit Authority was approved despite concerns from human rights activists and complaints raised by some of the losing bidders.
The Boston Globe (October 23, 2014)
MARLBOROUGH ­— Boston Scientific Corp. on Wednesday reported third-quarter profit of $43 million. The Marlborough-based company said it had profit of 3 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, were 20 cents per share.
The Boston Globe (October 23, 2014)
Broadcom makes chips for Apple's iPhones and iPads. NEW YORK — The stock of Broadcom Corp., a maker of communications chips, rose the most in more than four months after the company reported earnings that beat analysts' estimates and gave a forecast that eased concern orders might be drying up.
The Boston Globe (October 23, 2014)
NEW YORK — AT&T said it gained 2 million wireless subscribers in the latest quarter, but most were from cheaper services such as tablets and Internet-connected cars, and not from phones. The nation's second-largest wireless carrier is facing pricing pressure from smaller rivals T-Mobile and Sprint in a competitive environment in which most Americans already have a cellphone. The company's third-quarter earnings and revenue slightly missed expectations, and it cut its revenue outlook for the...
The Boston Globe (October 23, 2014)
NEW YORK — EMC Corp., the maker of storage computers that's facing calls by an activist investor to break itself up, reported third-quarter earnings that fell short of analysts' estimates amid slowing spending on storage.
The Boston Globe (October 23, 2014)
Stocks snapped a four-day winning streak for the S&P 500, as investors shaken by recent swings in the market sold some holdings. A slide in oil prices dragged down energy shares. Stocks opened higher on hopes Europe's top bank would add to its stimulus program and news that US inflation remained low last month. And a batch of good earnings reports from Broadcom and other US companies also helped. But those gains vanished later in the session as crude oil began to drop. On the inflation front,...
The Boston Globe (October 23, 2014)
Boeing delivered 186 commercial jets, up from 170 last year. Robust demand for commercial jets helped Boeing earn $1.36 billion in the third quarter, up 18 percent over last year. On a per-share basis and adjusted for nonoperating costs, the Chicago company's profits came to $2.14, beating estimates. Boeing is benefiting, in part, from a record jet-buying spree by airlines, driven by cheap financing and a growing number of global fliers. Shares fell, however, after an analyst commented on the...
The New York Times (October 23, 2014)
Late in 2012, when Tim Cook was relatively fresh on the job as Apple's chief executive, he made a sudden and potentially risky shuffle in the firm's executive ranks. He fired Scott Forstall, who had been in charge of Apple's mobile operating system, the most important piece of software Apple produced. Mr. Forstall had long been one of Steve Jobs's favored lieutenants, but in addition to presiding over a couple of prominent failures -- including Apple's Maps app -- he was known for his...
Last Updated: 2014-10-25 @10:15
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