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Goldman Sachs is selling about $1.1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China, the world's biggest bank.
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May 15- Delta Air Lines Inc on Wednesday said it expects improved profit in the second quarter, aided by lower fuel prices. Stable revenues and declining fuel prices "should couple to make for some very nice margin expansion in the quarter," Delta President Edward Bastian told a Bank of America Merrill Lynch conference that was broadcast over the Internet.
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NEW YORK-- Rockwell Medical Inc., which makes products used in the treatment of kidney disease and anemia, said Wednesday that it will sell $35 million in stock. Rockwell Medical shares have traded between $3.16 and $10.70 in the last year. Rockwell Medical is conducting late-stage clinical trials of a drug it called soluble ferric pyrophosphate.
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The new results reflect an accounting adjustment for some customer credits in its part-owned AmeriGas unit, which lowered earnings by about 2 cents per share. UGI now says it earned $171.9 million, or $1.49 per share, for the three months ended March 31. On April 30, UGI said its revenue for the quarter rose 5 percent to $2.55 billion, from $2.43 billion a year ago.
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NEW YORK-- GasLog Ltd., which operates carriers for natural gas shipping, said Wednesday its quarterly profit more than doubled, helped by a hefty one-time gain and the addition of new vessels.
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May 15- Macy's Inc reported higher first-quarter profit and sales on Wednesday despite weak demand from some of its customers, and the department store operator raised its quarterly dividend 25 percent.
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May 15- Macy's Inc on Wednesday reported higher first-quarter profit and sales despite cool weather in much of the country that delayed spring shopping for many customers, and the department store chain raised its quarterly dividend 25 percent.
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May 15- Deere& Co reported higher quarterly earnings on Wednesday and forecast a record profit for the full year, but it warned that "global financial pressures as well as adverse weather patterns" made it cautious about its outlook.
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SANTIAGO, May 14- LATAM Airlines Group SA's first-quarter net profit skidded to $42.7 million, or nearly half of a year earlier, on foreign exchange fluctuations, a drop in cargo revenue and the grounding of its three Dreamliners, the company said on Tuesday.
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NEW YORK-- Citigroup Inc. said Tuesday that its Brazil unit has agreed to sell Credicard, its non-banking credit card and consumer finance business, to lender Banco Itau Unibanco.
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PARSIPPANY, N.J.-- Pinnacle Foods Inc. said Tuesday that it will begin paying a regular quarterly dividend. The company will pay a dividend of 18 cents on July 10 to shareholders of record on June 20. Shares of Pinnacle Foods rose 21 cents to $24.04.
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May 14- Novelis Inc, the world's largest producer of rolled aluminum products, reported a quarterly profit on Tuesday, versus a year-earlier loss, boosted by stronger demand and better cost controls.
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PLEASANTON, Calif.-- Safeway Inc. on Tuesday said it will increase its quarterly dividend by 14 percent. The company plans to pay a dividend of 20 cents per share on July 11 to shareholders of record on June 20. Safeway, based in Pleasanton, Calif., operates 1,641 grocery stores across North America.
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PARSIPPANY, N.J.-- Curtiss-Wright Corp., an engineering firm based in Parsippany, N.J., said Tuesday that it is increasing its quarterly dividend by 11 percent. The company's new dividend of 10 cents per share is payable July 12 to shareholders of record as of June 28.
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MERRILLVILLE, Ind.-- NiSource Inc. on Tuesday boosted its quarterly cash dividend by 1 cent, or 4.2 percent, to 25 cents. NiSource said the move is in line with its commitment to a growing dividend for its investors. NiSource shares rose 24 cents to $29.01 in afternoon trading.
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NEW YORK, May 14- Verizon Communications Inc does not need more cash from its wireless venture with Vodafone Group Plc to support its own dividend payments, Verizon Chief Financial Officer Fran Shammo said on Tuesday.
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Among the earnings stories for Tuesday, May 14, from AP Business News:. _ Chemicals maker Taminco Corp. said that it turned a profit in the first quarter before it completed its initial public offering. Reddy's Laboratories Ltd. said that its net income climbed 67 percent in the fiscal fourth quarter.
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As the real estate and employment markets improve, people are not longer stuck in houses they've outgrown or jobs they can't stand—and they're shedding other baggage as well.
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NEW YORK-- Ally Financial Inc. said Tuesday that it agreed to back a settlement plan to resolve potential financial claims stemming from its bankrupt mortgage division, Residential Capital LLC. The only exception: securities claims by the Federal Housing Finance Agency and the Federal Deposit Insurance Corp. in its role as receiver for certain failed banks.
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THE SPARK: Excluding one-time items, Velti posted a loss of 27 cents per share. Velti projected second-quarter revenue of between $42 million and $45 million, below Wall Street predictions of $54.3 million.
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*Euro STOXX 50, Germany's Dax also scale new closing peaks. *Intesa Sanpaolo, Deutsche Post, EADS gain on profit beats. Italian bank Intesa Sanpaolo, German mail company Deutsche Post and French industrial conglomerate EADS were among top gainers after reporting better-than expected-profits, overshadowing some cautious operational numbers.