GM profits hit by cost of recalls
2014-04-24 18:33:01 UTC
The faulty switches could turn off the engine, disabling the airbags and have been linked to at least a dozen deaths.
The firm says it also incurred $300m in restructuring costs, mostly in Europe.
As a result net income was $125m, compared w...
Facebook profits triple as revenues surge on mobile platform success
2014-04-24 17:59:33 UTC
Facebook profits tripled to $642m as revenues soared 72% in the first quarter of 2014, with the company continuing to shift its customers – and advertisers – to its mobile platform.
Comfortably beating analysts’ expectation the company said Wed...
US President Obama embarks on weeklong Asia tour
2014-04-23 08:29:07 UTC
Japan was preparing for Obama's arrival on Wednesday, the first stop of the US president's trip that will also see him visit South Korea, Malaysia and the Philippines.
Obama's three-day stop in Japan, his first visit to the country since 2010, wi...
Obama set to back Japan in islands dispute as Asia tour begins
2014-04-22 20:33:46 UTC
Barack Obama is expected to offer guarded support for Japan in its bitter territorial dispute with China over a group of islands in the East China Sea, as Washington seeks to reassure its Asia-Pacific allies of its commitment to regional security ...
US supreme court upholds Michigan law that bans affirmative action
2014-04-22 20:26:35 UTC
A ban on affirmative action policies that favour minority students has been upheld by the US supreme court, in a ruling that racial equality campaigners claim is as significant a setback for the civil rights movement as the court's recent reversal...
Gillette's New Razor Could Overturn Its 100-Year-Old Business Model
2014-04-21 08:40:55 UTC
Procter & Gamble (PG), which hasn’t done a whole lot on the innovation front since the Swiffer in 1999, has a new Gillette razor in the works.
The Wall Street Journal got its hands on some secret documents that show a relatively standard face t...
In India, Mobile Ads Mean Phone Calls
2014-04-21 08:35:32 UTC
In many parts of the world, businesses relentlessly market to customers via their Web-connected smartphones, slipping pitches into everything from interactive games to graphics-laden productivity apps. Not so in rural India: To better reach the co...
Weibo shares surge on US debut, despite low opening price
2014-04-18 21:30:34 UTC
<h3>Shares in China's Weibo, a Twitter-like service, rose by almost 20% on their first day of trading on the US stock market, after a lukewarm start.</h3>The company's flotation on the Nasdaq stock exchange had initially raised a less-than-expecte...
Morgan Stanley's profits jump but Goldman Sachs's fall
2014-04-18 21:26:57 UTC
<h3>US banking giants Goldman Sachs and Morgan Stanley have reported contrasting results for the first quarter of the year.</h3>Goldman Sachs' net earnings fell to $2.03bn from $2.26bn after a drop in revenues from its bonds, currency and trading ...
Iran has cut higher-enriched uranium stock 'by half'
2014-04-17 11:55:03 UTC
Iran has neutralised half of its higher-enriched uranium stockpile, as per a deal agreed earlier this year, the world's nuclear watchdog says.
The International Atomic Energy Agency has been checking Iran's adherence to the deal, struck with si...
Jimmy Carter says oil pipeline shouldn't be approved
2014-04-17 10:30:25 UTC
For the first time, a former U.S. president has come out against the Keystone XL pipeline.
The ex-president in question is Jimmy Carter.
The 39th president joined a group of Nobel laureates to sign a letter urging the current commander-in-ch...
Google shares drop on worries over advertising income
2014-04-17 09:23:30 UTC
Shares in Google have dropped 5% despite the technology giant reporting a first-quarter profit rise of 3%.
Profits were $3.45bn, but investors are preoccupied by Google's inability to maintain advertising prices.
A widely watched measure, th...
Stocks finish higher on turnaround Tuesday
2014-04-16 02:22:59 UTC
Investors seemed to have trouble making up their minds Tuesday. Stocks rallied out of the gate, then languished for most of the day before sprinting into the close.
The Dow Jones Industrial Average, the S&P 500 and the Nasdaq all ended the day hi...
GM: 'We know the world is watching'
2014-04-16 01:33:03 UTC
GM CEO Mary Barra announced that the automaker has created a new global product integrity unit to ensure that a "situation like the ignition-switch recall doesn't happen again."
Speaking at the New York Auto Show, Barra acknowledged that GM still...
U.S. Stocks Fall as JPMorgan Drops, Tech Shares Fluctuate
2014-04-11 16:17:29 UTC
U.S. stocks fell, after the biggest drop for the Standard & Poor’s 500 Index in two months, as technology shares swung between gains and losses while JPMorgan Chase & Co. slid on disappointing earnings.
JPMorgan lost 3.4 percent as profit fell ...
Obama Banks on Sebelius Leaving to Take Heat Off Party
2014-04-11 16:13:26 UTC
The departure of Kathleen Sebelius from President Barack Obama’s cabinet removes a focal point for criticism over Obamacare’s troubled rollout, right at a moment when the White House can blunt attacks with enrollment numbers that exceeded targets....
Ukraine crisis: Putin demands advance payment for gas
2014-04-10 06:21:12 UTC
In Moscow, President Vladimir Putin appeared in little mood for negotiation, threatening in a cabinet meeting to demand that Ukraine pay for its gas in advance – a move he said would "correspond with the contract" between Ukraine and Russia.
US undocumented Latinos living in fear
2014-04-10 05:58:53 UTC
The rainforests around Forks, a small town in Washington state, have long attracted hunters and fishermen, but beginning in 2008, this lush, remote landscape acquired a new breed of pursuer and prey.
That year, Border Patrol agents started targ...
California Ranked Lowest in Government Data Access Study
2014-04-09 08:41:02 UTC
California, the U.S. state with the largest population and budget, offers the least website access to its government spending data, according to an analysis by the New Jersey Public Interest Research Group.
Alaska and Idaho also got failing gra...
Toyota recalls 6.5m cars worldwide
2014-04-09 08:17:56 UTC
Toyota is recalling more than 6.5m cars worldwide to fix a variety of problems, including faulty steering wheels and seats.
The recall affects 35,000 cars in the UK, including some RAV4, Hilux, Yaris and Urban Cruiser models – a figure revised ...
Gas war: Ukraine refuses to pay increased prices set by Russian firm
2014-04-06 23:23:22 UTC
The prospect of a new gas war between Russia and Ukraine drew closer at the weekend as the government in Kiev said it would refuse to pay for gas at a new, inflated price set by Gazprom last week. The dispute comes as tensions in eastern Ukraine r...
Nigeria overtake South Africa and becomes Africa's biggest economy
2014-04-06 16:46:47 UTC
Nigeria has "rebased" its gross domestic product (GDP) data, which has pushed it above South Africa as the continent's biggest economy.
Nigerian GDP now includes previously uncounted industries like telecoms, information technology, music, onli...
Google Shareholder Votes Can Be Worth Less Than Zero
2014-04-03 18:50:08 UTC
What is the worth of a Google (GOOG) shareholder vote?
One correct answer has always been: not much. Since the company went public in 2004, its stock has come in two flavors: Class A shares, which come with one vote apiece; and Class B shares, ...
Yahoo unveils encryption measures to protect users' data
2014-04-03 17:52:10 UTC
Yahoo has announced major steps to encrypt its users' data in the wake of whistleblower Edward Snowden’s revelations about the extent of government surveillance of private citizens.
Alex Stamos, Yahoo’s recently appointed chief information secu...
Obama healthcare 'here to stay'
2014-04-02 07:21:20 UTC
US President Barack Obama says his embattled signature healthcare programme is "here to stay" after more than 7 million Americans signed up.
He told reporters the law, nicknamed Obamacare, represented progress and benefitted the economy.