Posts Tagged ‘Young’

Crude oil prices fall to $96.32 in continuing slide

Linda Young – AHN News Writer London, United Kingdom (AHN) – Oil prices continued to fall on Wednesday, dropping an additional 0.7 percent as concerns about the U.S., European and global economies mounted. Another factor in pushing crude oil prices down was news that Saudi Arabia might boost its production. Oil prices have fallen more […]

U.S. Treasury should make $15 billion profit on AIG bailout

Linda Young – AHN News Writer Washington, D.C., United States (AHN) – The U.S. government will likely make a $ 15.1 billion profit from bailing out insurance giant American International Group Inc., according to a congressional watchdog panel’s report. The Government Accountability Office report came out on Monday. The GAO said the size of the […]

Citigroup shareholders vote down $15 million raise for CEO

Linda Young – AHN News Writer New York, NY, United States (AHN) – Citigroup stockholders voted down a pay increase for the top executive. Under the Dodd-Frank bank reform law, shareholders now have a say in executive pay packages beyond merely selling their shares. This gives a way for shareholders to say that CEOs are […]

Wal-Mart reports more sales but lower Q4 profits

Linda Young – AHN News Writer New York, NY, United States (AHN) – Wal-Mart reported lower profits for the fourth quarter of 2011 despite an increase in sales. Fiscal fourth-quarter profit for Wal-Mart dropped by 15 percent and caused stock shares to drop 4 percent in trading. The world’s largest retailer reported sales rose by […]

Kodak shares plunge on report company might seek bankruptcy protection

Linda Young – AHN News Writer Rochester, NY, United States (AHN) – Eastman Kodak Co. stock shares plunged 28 percent in value on speculation that the 131-year-old photography company is preparing to seek bankruptcy protection. Kodak once ranked among America’s largest corporations. The former blue chip company once attracted engineers, scientists and Ph.D.’s from around […]

Revised GDP report reveals slower growth

Linda Young – AHN News Writer Washington, DC, United States (AHN) – The economy grew at a slower pace from July through September than originally thought, according to revised figures released by the Commerce Department on Tuesday. Gross domestic product grew only at a 2 percent annual rate during the third quarter down from the […]

IMF lowers growth prediction for Asia

Linda Young – AHN News Writer Singapore (AHN) – International Monetary Fund (IMF) officials have cut forecasts for growth in Asia because of concerns over problems in two of its key export zones. Both the United States and the eurozone are experiencing problems that could mean those zones import less from Asia. The IMF cited […]

Exxon Mobile posts Q2 41 percent profit on back of higher oil prices

Linda Young – AHN News Writer New York, NY, United States (AHN) – Earnings driven by record high world demand that keeps boosting oil prices also caused profits to soar by 41 percent for U.S. oil giant Exxon Mobil. Exxon reported second-quarter net profits of $10.7 billion, which was a 41 percent increase over the […]

Ford posts $2.4b Q2 net income

Linda Young – AHN News Writer Dearborn, MI, United States (AHN) – American automotive company Ford made $2.4 billion in net income during the second quarter, but that was down from the $2.6 billion it earned during the same quarter a year ago. However, the company’s earnings still beat Wall Street’s expectations and Ford’s shares […]