NEW YORK (CNNMoney) — Warren Buffett’s Berkshire Hathaway posted first-quarter earnings Friday that doubled versus last year, buoyed by gains in its insurance businesses and derivatives holdings. The company posted $3.25 billion in earnings, translating to $1,966 per Class A share, compared with $1.51 billion in the first quarter of ...
NEW YORK (CNNMoney) — Want to buy an iPhone? Verizon would really, really like you to consider an alternative. Anecdotal evidence is stacking up on chat forums and other outlets from people who say that Verizon Wireless’ sales representatives actively discouraged them from buying an iPhone and instead pushed hard ...
FORTUNE — Sometimes big companies do good things for their employees during bad times. And keep on doing it, quietly, without making a fuss. That’s the thought that crossed my mind when I heard that United Technologies Corp., a hard-nosed industrial conglomerate that makes things like aircraft engines and elevators ...
Rupert Murdoch isn’t expected to give up control of News Corp., despite a British government report that said he is not a fit and proper person to run the company. NEW YORK (CNNMoney) — Embattled media mogul Rupert Murdoch received his harshest official rebuke yet related to the phone hacking ...
By David A. Kaplan, contributor FORTUNE — Facebook’s looming public offering may mark high water in confidence around Silicon Valley these days. And it is surely is going to make a lot of techies very rich, likely in a few weeks. But there’s a smaller, barely noticed effect of the ...
Shares of People.cn, soared 74% in their debut on the Shanghai Stock Exchange. NEW YORK (CNNMoney) — Propaganda doesn’t pay? Actually it’s pretty lucrative … at least if you’re a media outlet backed by the Chinese government . People.cn, the online arm of People’s Daily, the official newspaper of the ...
Improved profits from North America were overwhelmed by overseas losses. NEW YORK (CNNMoney) — Ford Motor reported a sharp drop in first-quarter earnings Friday, as losses in Europe and Asia and a slight drop in sales hurt results. Ford earned $1.4 billion, down 45% from $2.6 billion a year earlier.
Chrysler reported sharply improved earnings and sales in the first quarter. NEW YORK (CNNMoney) — Chrysler Group reported strong first-quarter earnings and sales, another sign of the automaker’s progress since its 2009 bailout and bankruptcy reorganization. Chrysler earned $473 million in the quarter, more than quadruple the $116 million it ...
Terry Duffy, the head of exchange operator CME Group, testifies about the collapse of MF Global on Capitol Hill Tuesday. NEW YORK (CNNMoney) — Investigators probing the collapse of bankrupt brokerage MF Global said Tuesday that they have located the $1.6 billion in customer money that had gone missing from ...
China is on pace to top Japan as the world’s largest market for luxury goods, with sales surging 18% annually to hit $27 billion by 2015. That’s a fifth of the worldwide total.
Cadillac and Lincoln eat dust in California. FORTUNE — Cadillac and Lincoln are two of America’s most storied car brands, with more than 200 years of automotive history between them. But in the country’s largest and highest profile luxury car market — California — they are regularly trounced by Europe’s ...
John Carter’s quest for box office sales didn’t pan out, and Disney’s film boss Rich Ross is paying the price. NEW YORK (CNNMoney) — The titular hero in the sci-fi epic “John Carter” slayed evil aliens, decimated enemy armies — and now, he’s killed Rich Ross’ position as chairman at ...
NEW YORK (CNNMoney) — Microsoft’s sales growth for Xbox and Kinect slowed sharply last quarter, but other sectors like Windows helped the company post earnings that beat analysts’ estimates. Microsoft (MSFT, Fortune 500) pulled in earnings of 60 cents per share on sales of $17.4 billion for its fiscal third ...
Unveiled at the recent New York Auto Show, the SRT Viper had been left for dead just a few years ago. NEW YORK (CNNMoney) — As the 2013 SRT Viper was revealed at the New York Auto Show earlier this month, Ralph Gilles, head of Chrysler’s SRT performance division, was ...
Yahoo’s new CEO, Scott Thompson, is launching a major restructuring to pull the company out of its slump. NEW YORK (CNNMoney) — New Yahoo CEO Scott Thompson is the latest leader to promise a splashy turnaround — and though it’s an old party line by now, the earnings for his ...
NEW YORK (CNNMoney) — Here’s a sign of just how far BlackBerry’s star has fallen: The maker of one popular app is pulling the plug, citing a “steady exodus” of users gravitating instead to Android and the iPhone. Visual voicemail company YouMail is ending development on its BlackBerry app. YouMail ...
AT&T CEO Randall Stephenson shows off an iPad app to Washington high school student and ‘Aspire’ graduate Joylin Hayes and America’s Promise Alliance Chair Alma Powell. NEW YORK (CNNMoney) — While Americans struggle to finds jobs, some of the country’s biggest companies insist they’re struggling just as hard to find ...
