Apple Reports 33% Rise in Earnings
Apple continued to defy the problems gripping the rest of the
smartphone market, posting a 33% increase in quarterly profit to
$13.57 billion on the back of surging iPhone sales and explosive
growth in China. Revenue rose 27% to $58.01 billion.
Santander Profit Rises
Spanish lender Santander's net profit rose from a year earlier
as Spain's economic recovery helped to buoy revenue growth in its
home market.
BP Profit Hit by Lower Oil Prices
BP reported a fall in first-quarter profit, giving the first
glimpse of how low prices through the beginning of 2015 affected
the world's biggest oil companies.
Orange Slows Decline in Revenue
Orange said revenue and profitability slid again in the first
quarter, but at a slower rate than last year, buoyed in part by
strong sales of Apple's new iPhone as the company begins a wave of
investment to restore growth.
Philips Profit Slumps as Costs Bite
Philips posted a 28% fall in net profit as a result of costs
related to the separation of its lighting activities, even as it
recorded a rise in sales.
Swedbank Net Profit Rises
Swedish lender Swedbank Tuesday criticized the Swedish central
bank's decision to drive interest rates into negative territory as
it reported a 9% rise in first quarter net profit, driven by higher
net interest income and commissions.
FDA Fast-Tracks Sanofi's New Drug for Fabry Disease
The U.S. Food and Drug Administration, or FDA, granted
fast-track designation for the development of a new drug aimed at
treating Fabry disease developed by biotech Genzyme, according to
its parent company French pharmaceutical giant Sanofi.
Telenet Lifts Revenue but Profit Slips
Belgian telecom group Telenet Group Holding said Tuesday that
its revenue rose 6% year-on-year in the first quarter, to $481.69
million, driven by more subscriptions for its mobile-phone and
triple-play services.
Cnooc to Tap USD Bond Market for Funds
Offshore oil producer Cnooc plans to issue U.S. dollar bonds for
general corporate purposes, becoming the latest Chinese energy
giant to tap the bond market for funds at a time of low oil
prices.
Best Buy to Accept Apple Pay
Best Buy said it would join the growing list of retailers
accepting Apple Pay this year, undercutting a merchant-led group
that had hoped to beat Apple with its own mobile-payment
system.
Moody's Confirms Ratings for Brazil's Petrobras
Moody's Investors Service said Monday that it confirmed all
ratings for Brazilian state-run energy giant PetrĂ³leo Brasileiro
with a stable outlook for the company and its guaranteed debt.