Category: Economy

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Ford Motor Co. reports 34 percent drop in Q3 profit

U.S. car maker Ford Motor Co. said on Friday that its third-quarter profit fell 34 percent from a year ago, due to weaker revenue and volume.
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S&P affirms Russia’s credit rating; keeps outlook at negative

Standard & Poor's rating agency kept its sovereign rating for Russia unchanged, dispelling fears of a potential downgrade to junk status, and said the...
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U.S. new home sales rise 0.2 percent to 467K in September

Sales of newly built homes in the U.S. increased slightly in September after a sharp rise in August, the strongest performance during the recovery des...
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Microsoft to change Nokia name to Microsoft Lumia

Microsoft has completed the acquisition phase of Nokia's mobile arm earlier this year. Now, the software company manages to drop the Nokia moniker and...
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BGC Partners makes hostile bid for GFI

BGC Partners Inc has gone ahead and offered a USD675 million bid for GFI Group Inc. The move comes after the talks between the parties had reached a s...
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U.S. consumer prices grew modestly in September by 0.1 percent

Consumer prices in the U.S. slightly rose in September, according to data by the Labor Department released on Wednesday, with increased prices for foo...
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AT&T Inc. Q3 profit down to $3B; revenue rises 2.5 percent

AT&T Inc. reported on Wednesday a decline in third-quarter profit, due to merger costs and other expenses even as revenue increased.
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U.S. existing-home sales jumped 2.4 percent in September

Sales of previously owned homes in the U.S. jumped in September to its highest level of the year, an indication of improvement in the housing market t...
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AbbVie Inc., Shire end biggest deal of 2014 due to new U.S. tax rules

AbbVie Inc. and Shire agreed to put an end to their $54bn deal, which would have been the largest U.S. tax inversion, following AbbVie's decision to p...
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Ex-All Star Chris Webber interested in buying Atlanta Hawks

Former NBA All-Star Chris Webber has expressed interest in buying the Atlanta Hawks.