BusinessWeek
Oysters, Pilots Get Hunk of $50 Million Royal Bank of Canada Aid
Chesapeake Bay oysters are in terrible trouble. Blame pollution, disease and overharvesting -- current numbers may be less than one percent of historical levels.
Global Smartphone Shipments Jump 55%, Led by Apple’s IPhone
Global smartphone shipments surged 55 percent in the fourth quarter, as demand for Apple Inc.’s iPhone 4S countered declines by Research In Motion Ltd. and Nokia Oyj, International Data Corporation said.
Renesas, Fujitsu, Panasonic Rise on Chip Report: Tokyo Mover
Renesas Electronics Corp. rose the most in more than two years in Tokyo trading after the Nikkei newspaper reported the company will merge its chip unit with those of Panasonic Corp. and Fujitsu Ltd.
David Koch Pledges $60 Million to Upgrade Met Museum’s Plaza
New York’s Metropolitan Museum of Art announced plans for a redesign of the plaza outside of its Fifth Avenue facade, financed with a $60 million gift from David Koch, a museum trustee.
Bharti Airtel Net Misses Estimates as Customers Curb Calls
Bharti Airtel Ltd., India’s largest wireless operator, reported profit that missed analysts’ estimates as customers curbed mobile-phone use amid rising call rates. The shares fell.
Singh Turns to India State Vote for Succor After Year of Scandal
India’s government gets a chance to rebuild its political support after a year of setbacks and gauge the popularity of Rahul Gandhi, its touted next leader, as voters go to the polls in the nation’s most populous state.
China to Fine Parents for Second Child in Hong Kong, Daily Says
Chinese couples who give birth to a second child in Hong Kong in breach of the nation’s one-child policy will be fined, the China Daily reported today.
BHP First-Half Profit Drops 5.5% on Base Metals, Costs
BHP Billiton Ltd., the world’s biggest mining company, reported a 5.5 percent drop in first- half profit, the first decline since 2009, as rising costs and lower output and prices halved base metals earnings.
Gemba Says U.S., Japan to Announce Troop Relocation Plan Today
Japan and the U.S. will announce a revised plan to move thousands of American marines from Okinawa to Guam today, Japanese Foreign Ministry Koichiro Gemba said.
Disney Earnings Rise 12% on Growth at ESPN; Revenue Falls Short
Walt Disney Co., the largest U.S. entertainment company by market value, said first-quarter profit rose 12 percent on growth at ESPN and its U.S. resorts.
Glencore’s Glasenberg Gets Back to His Marc Rich Trading Roots
Just eight months after taking Glencore International Plc public in a $10 billion stock offering, Ivan Glasenberg is stepping aside as chief executive officer to go back to his trading roots.
China’s Li Says Affordable Housing Tests Government Credibility
Vice Premier Li Keqiang said the government’s ability to distribute affordable housing fairly will be an important test of its credibility.
South Korea Moves Closer to Setting Limits on Carbon Emissions
South Korea may become the third Asia-Pacific nation to set greenhouse-gas limits for its largest companies following a vote scheduled today in Seoul.
Bank of America Plaza Goes for $235 Million in Auction Sale
Bank of America Plaza, the tallest tower in the U.S. Southeast, was sold at a public auction today on the steps of the Fulton County Courthouse after landlord BentleyForbes missed mortgage payments.
Wheat Price in Japan May Dip Most Since 2009, Cutting Food Costs
Wheat prices in Japan, Asia’s second- largest importer, may decline in April by the most since October 2009, putting food makers including Yamazaki Baking Co. and Nisshin Seifun Group Inc. under pressure to cut prices.
Santorum Wins Missouri in Republican Presidential Race Twist
Former U.S. Senator Rick Santorum of Pennsylvania won a non-binding primary in Missouri today, shaking up the Republican presidential race just days after Mitt Romney had won two races in a row to claim front-runner status.
MF Global’s $310 Million Margin Call Exceeded Its Market Value
MF Global Holdings Ltd., the futures broker that filed the eighth-largest bankruptcy in October, faced a $310 million margin call on its final day that exceeded its market value.
Bank of America’s Montag Hires Ex-Goldman Sachs Partner Sinha
Bank of America Corp.’s Merrill Lynch unit, ranked sixth among advisers on takeovers announced globally last year, recruited former Goldman Sachs Group Inc. partner Ravi Sinha to help win more business.
Floods Waters to Peak in Queensland, Thousands Still Stranded
Thousands of Australians remain forced from their homes as floodwaters engulfed the nation’s north-east, a year after natural disasters cost the economy about A$9 billion ($9.7 billion).
China Central Bank Pledges Support for Homebuyers as Sales Slide
China’s central bank pledged support for first-home buyers as a crackdown on real-estate speculation threatens to trigger a property slump in the world’s second- biggest economy.