Chinese oil refiner Sinopec has announced its net profit in the first half of 2009 jumped fourfold from a year earlier, fueled by changes in state price controls for fuel, China state media reported. The 18-year-old was crowned by another Venezuelan, Dayana Mendoza, Miss Universe 2008, marking the first time that two contestants from the same country have won the title in consecutive years. As Miss Universe, Fernandez will have the use of a New York City apartment for the year of her reign, and will receive living expenses.
Less than 10 months ago, the great fear in Asia was that the region would suffer through the overwhelming wealth destruction that was already taking place in the U.S.
Internet search company Yahoo Inc. announced Tuesday that it would slash 5 percent of its workforce, as it reported a first-quarter profit that fell sharply from a year earlier but still managed to beat Wall Street’s forecasts. Shares of Yahoo (YHOO, Fortune 500) rose more than 5 percent after hours.
There’s no place left to hide from rising unemployment. Nationwide, of course, job losses have been mounting for quite some time.
Slumping consumer demand pushed China’s consumer and producer price indices into negative territory in February, state-run media reported Tuesday.
The world’s largest brewer, Anheuser-Busch InBev, announced Thursday that its fourth quarter profit plunged by 95 percent. The Belgium-based group, created in November by InBev’s takeover of U.S. rival Anheuser-Busch, cited the cost of restructuring its business as the major factor in the slump.
Target Corp. this month will open 27 new stores employing a total of more than 4,300 people, the company said. The stores’ openings will come just weeks after the retailer cut 600 people from its headquarters staff amid what it called weaker-than-expected sales.
Here’s a thought: let’s have the government do something to fix the housing market. Now what would that be? Ideas are flying around Washington.
Starbucks, better known for amusingly complicated premium coffee offerings, took a cue from fast-food chains and announced a plan Monday to sell pairings of coffee and breakfast for $3.95, citing the economic downturn. With the $3.95 breakfast offer, customers will be able to get a 12-ounce coffee with a breakfast sandwich or roll or a 12-ounce latte with either oatmeal or a coffee cake. The company called the latest promotion an extension of various other recent Starbucks offers, including a loyalty card and discounting 16-ounce cold drinks to customers who made a purchase at Starbucks that morning