profits

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At $242M, Madonna Tops Music Moneymaker List

(Newser) - When it comes to overall revenues in 2008, all other musicians took a back seat to Madonna. Billboard notes that the top 20 earners all toured, a move that is bringing in more and more money as record sales tank. The top moneymakers:
  1. Madonna: With more than $242 million, the
...

To Save Itself, Press Should Become a Religion
To Save Itself, Press Should Become a Religion
OPINION
Feb 11, 2009 2:44 PM CST

To Save Itself, Press Should Become a Religion

Papers would enjoy the benefits of tithing and tax-exemption: Bates

(Newser) - As profits continue to fall, some have suggested turning newspapers into non-profit, endowed institutions similar to colleges. A better way to go non-profit would be for the press to declare itself a religion, writes Stephen Bates for Slate. The tax benefits would be substantial, as would legal protections for reporters-turned-priests,...

Sony Swings to First Annual Loss in 14 Years

Global downturn, strong yen reverse earlier expectations

(Newser) - Sony announced today that it would go down to its first annual loss in 14 years, after having forecast just months ago that it would turn a profit. The Japanese electronics giant said it expected to lose $1.7 billion, the result of declining demand from the global recession. The...

Authorities May Claw Back Madoff 'Profits'

Investors who gained from Ponzi scheme may lose too

(Newser) - While thousands of investors are furious with Bernie Madoff, he did manage to make a few people very rich during the boom years. With handsome if fraudulent returns of 10% to 17%, investors who withdrew even a fraction of their principal may have ended up in the black. But as...

MGM Delays New Casinos for Vegas, Atlantic City

After credit downgrade, firm reports 67% decline in quarterly net income

(Newser) - MGM Mirage will suspend work on new casinos in Las Vegas and Atlantic City due to the dismal credit climate, the Wall Street Journal reports. The firm reported a 67% drop in third-quarter net income as the slumping economy quells consumers’ desire to gamble or spend at casino restaurants and...

Christian Science Monitor Will End Daily Print Edition

Paper moves to web-first edition, will publish weekly magazine

(Newser) - The Christian Science Monitor will discontinue its daily print edition in April as it shifts to the Internet. The paper, which turns 100 next month, will print a weekly edition instead. The Monitor has seen its circulation decline to 52,000 from 160,000 20 years ago, and while it...

High Prices Pound Gas Stations
 High Prices Pound Gas Stations 
Jul 7, 2008 6:22 PM CDT

High Prices Pound Gas Stations

Squeezed margins drive many out of business

(Newser) - Angry at gas stations for profiting on your financial misery? Think again, the Wall Street Journal reports: They're fast going out of business as oil prices rise. This year's 40% price hike has sent costs soaring, shuttering 3,000 US stations and causing Exxon Mobile to announce the sale of...

Slumping Microsoft Needs Yahoo
 Slumping 
 Microsoft 
 Needs Yahoo 
OPINION
Apr 25, 2008 11:52 AM CDT

Slumping Microsoft Needs Yahoo

Slow quarter spurs push for acquisitions

(Newser) - Microsoft's first quarter saw flat sales and dipping profits, all the more reason to make nice with Yahoo, Aaron Ricadela writes in BusinessWeek. Steve Ballmer has said he is ready to walk away from the attempted takeover, but with most of Microsoft's revenue coming from smaller divisions and overseas interests,...

Best Buy Profit Soars 52% in 3Q
Best Buy
Profit Soars
52% in 3Q
Dec 18, 2007 12:21 PM CST

Best Buy Profit Soars 52% in 3Q

Less discounting helps retail giant best expectations

(Newser) - A consumer hankering for big-ticket items—and a willingness to pay closer to full price for them—helped Best Buy's third-quarter profit rise 52%, reports the Wall Street Journal. Absent last year's discounting on flat-screen TVs, the country's largest electronics chain posted Q3 net income of $228 million, or 53...

Amazon Reports Large Increase in 3Q Sales

Despite 313% jump, stock drops in after-hours trading

(Newser) - Amazon reported strong increases in third-quarter sales, citing once again its low pricing and free shipping for success. But investors may have been hoping for an even larger increase, because Amazon's share prices fell over 8% in after-hours trading. The company netted a profit of $80 million for the quarter,...

Ford Turns 1st Quarterly Profit in 2 Years

Automaker thumps expectations, moves into black for 2007

(Newser) - In a surprise turnaround, Ford reported a $750 million quarterly profit today, ending seven quarters in the red by declaring earnings of 31 cents per share. Excluding profits related to the sale of Aston Martin and job cuts, the figure was 13 cents per share ($258 million), Bloomberg reports. Ford...

iPhone Set For Awesome Profits
iPhone Set For Awesome Profits
Jul 3, 2007 3:14 PM CDT

iPhone Set For Awesome Profits

Supercool new gadget sells for double manufacturing costs

(Newser) - The 8GB model of the must-have iPhone retails for $600, but the parts cost Apple only $265.83—a 55% profit margin that helps account for the company's $186.1 million gross during the gadget's opening weekend, Bloomberg reports. A research firm took apart an iPhone to break down the...

'Potter' Finale Deathly for Book Business

Final chapter casting spell on readers, but sellers don't feel magic

(Newser) - The final Harry Potter installment will likely fly off the shelves like a Quidditch player, but retailers are feeling decidedly grounded. Facing megasized hype, chains and websites will sell Harry for cost, leaving independent bookstores practically out of the selling loop. And Business Week reports Scholastic's lodestone is diverting attention...

Dutch Do Pensions Right
Dutch Do Pensions Right
Jun 15, 2007 2:00 PM CDT

Dutch Do Pensions Right

The US should read up on Social Security in the Netherlands, reports Time

(Newser) - Governments around the world are stuck between tightfisted Anglo-American pension plans that pay only a fraction of one's past salary, and extravagant European-style social security that ends up welshing on the payments. But the Dutch have struck a balance that's working, reports Time, as sufficient amounts of money are saved...

Dow Closes Down 80.86 on Inflation Scare

Bernanke comment, retail profit warnings contribute to slump

(Newser) - The Dow fell 80.86 points today, closing at 13,595.46 after companies in the retail sector issued warnings of reduced profits and Fed chairman Ben Bernanke commented that inflation risks are still high. "There are a lot of little things out there that are scaring the market,...

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