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Berkshire to release 1Q earnings on May 8

April 29, 2009 12:35 pm | by JOSH FUNK - AP Business Writer - Associated Press | News | Comments

OMAHA, Neb. (AP) — Warren Buffett's Berkshire Hathaway Inc. will release its first-quarter earnings report on May 8.In each of the past three years, the Omaha-based company released its quarterly report on the Friday before its shareholder meeting, which will be held Saturday, May 2, in Omaha.The...

Visa profit up 71 pct, beating Street forecast

April 29, 2009 12:30 pm | by The Associated Press | News | Comments

BOSTON (AP) — Visa Inc.'s fiscal second-quarter profit rose nearly 71 percent, beating Wall Street expectations, as cost cuts and international gains offset U.S. consumers' growing reluctance to use credit cards during a recession.The world's largest electronic payment network on Wednesday also...

Starbucks 2Q profit down 77 percent on charges

April 29, 2009 12:30 pm | by The Associated Press | News | Comments

NEW YORK (AP) — Consumers continued buying fewer lattes and coffees at Starbucks in its second quarter and restructuring charges led to a 77 percent in net income, but the drop in sales was something of an improvement.Starbucks Corp. — hurt in recent quarters by the perception that its drinks are...

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First Solar 1Q profit triples on new projects

April 29, 2009 12:25 pm | by CHRIS KAHN - AP Energy Writer - Associated Press | News | Comments

NEW YORK (AP) — First Solar, the nation's largest solar panel maker, reported Wednesday that first-quarter profits more than tripled as the company inked numerous new power projects and cut its production costs.The Tempe, Ariz.-based company reported Wednesday it earned $164.6 million, or $1.99 per...

Former Amphenol CEO got 2008 pay valued at $2.2M

April 29, 2009 12:20 pm | by BARBARA ORTUTAY - AP Technology Writer - Associated Press | News | Comments

NEW YORK (AP) — The former chief executive of Amphenol Corp., which makes electronic and fiber optic connectors and cables, received compensation valued at $2.2 million in 2008, a 65 percent decline from a year earlier, according to an Associated Press analysis of figures disclosed in a regulatory...

Labor chief: Undocumented worker wages a concern

April 29, 2009 12:10 pm | by VICTOR EPSTEIN - Associated Press Writer - Associated Press | News | Comments

PARAMUS, N.J. (AP) — Ensuring undocumented workers get paid and improving worker safety are two priorities for the Department of Labor, its first Hispanic secretary said Wednesday.Hilda Solis visited a green jobs event in northern New Jersey, where she said unpaid wages will continue to be a...

Gold prices rebound as dollar falls, stocks soar

April 29, 2009 12:10 pm | by SARA LEPRO - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — Gold and other commodities rebounded Wednesday as concerns about the spread of swine flu diminished and hopes for an economic recovery grew.A retrenchment in the U.S. dollar also aided gold prices. Investors often buy up gold when the dollar falls. Gold is considered a good hedge...

GM bondholders seek to take majority stake

April 29, 2009 11:59 am | by DAN STRUMPF - AP Auto Writer - Associated Press | News | Comments

NEW YORK (AP) — General Motors Corp. bondholders want a majority stake in the restructured automaker in exchange for forgiving their claim to $27 billion of GM debt, a committee representing the bondholders said Thursday.The bondholders' counterproposal follows a much less generous offer from GM on...

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Geithner pushes for credit card reform

April 29, 2009 11:49 am | by MARCY GORDON - AP Business Writer - Associated Press | News | Comments

WASHINGTON (AP) — The Obama administration is pressing for passage of legislation to rein in credit card practices and eliminate sudden rate increases and late fees that have entangled millions of American consumers.Treasury Secretary Timothy Geithner and Rep. Carolyn Maloney, D-N.Y., chief sponsor...

The Baltimore Sun lays off nearly 60

April 29, 2009 11:49 am | by BEN NUCKOLS - Associated Press Writer - Associated Press | News | Comments

BALTIMORE (AP) — The Baltimore Sun has laid off nearly 60 people in its newsroom, including veteran editors and managers, columnists, photographers and designers.A spokeswoman for the newspaper says managerial-level employees were laid off at the end of the day Tuesday, and union-represented...

4 groups supporting ex-Qwest CEO Nacchio's appeal

April 29, 2009 11:44 am | by The Associated Press | News | Comments

DENVER (AP) — Four groups have filed friend-of-the-court briefs supporting former Qwest CEO Joseph Nacchio's appeal to the Supreme Court of his insider trading conviction.The National Association of Criminal Defense Lawyers and the New York Council of Defense Lawyers filed a joint brief and the...

Motorola ex-CFO denies destroying evidence

April 29, 2009 11:44 am | by The Associated Press | News | Comments

CHICAGO (AP) — Motorola Inc.'s former chief financial officer denies that he destroyed evidence by wiping files from a company laptop.Paul Liska left the company on Jan. 29, and later sued Motorola, saying the company retaliated against him for warning that its financial projections were overly...

Earnings Preview: Newell Rubbermaid Inc.

April 29, 2009 11:39 am | by ASHLEY M. HEHER - AP Retail Writer - Associated Press | News | Comments

CHICAGO (AP) — Newell Rubbermaid Inc. reports results for the first quarter on Thursday. The following is a summary of key developments and analyst opinion related to the period.OVERVIEW: Consumer products maker Newell Rubbermaid Inc. cut jobs last year as its sales slipped and it pared back its...

DuPont names former secretary of energy to board

April 29, 2009 11:28 am | by The Associated Press | News | Comments

WILMINGTON, Del. (AP) — Chemical manufacturing company DuPont Co. said Wednesday that Samuel W. Bodman, former U.S. secretary of energy, was elected to its board during the company's annual shareholders meeting.Bodman, 70, served as deputy treasury secretary and deputy commerce secretary under...

Energy Sec. announces $193M for energy research

April 29, 2009 10:47 am | by The Associated Press | News | Comments

GOLDEN, Colo. (AP) — The primary U.S. lab for renewable energy will receive $110 million in federal stimulus funds and another $83 million will go toward wind energy and other alternative power and efficiency projects, Energy Secretary Steven Chu said Wednesday."Wind energy will be one of the most...

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