Business News for Friday April 29, 2011

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ExxonMobil explains $10.7B earnings IRVING, Texas (UPI) -- Oil giant ExxonMobil Thursday reported first-quarter profits of $10.7 billion and warned of a Democratic initiative to remove U.S. oil industry subsidies. The figure is a 69 percent increase over first quarter 2010 profits. Speaking with reporters on a conference call, Ken Cohen, ExxonMobil's vice president, public and government affairs, said Congress should not go along with President Barack Obama's call to eliminate $4 billion in tax breaks for ... Continue Reading... Post a Comment | Share Frustration and fast growth in Appnation SAN FRANCISCO (UPI) -- A video game developer in San Francisco put the odds at one in 1,000 for developing a successful application for mobile devices. "For every Angry Birds, there are about 1,000 angry developers whose products didn't get discovered," Trip Hawkins said in the opening address at the AppNation conference Thursday, the San Francisco Chronicle reported. "Angry Birds" is a digital game designed for handheld devises that has been downloaded 140 million times. ... Continue Reading... Post a Comment | Share Facebook hits cool off MENLO PARK, Calif. (UPI) -- Investor interest in fast-growing U.S. Internet firm Facebook may be about to hit a cooling off period, a venture capitalist said. "At the current valuation where it is, it is really hard to justify the investment," said Sumeet Jain, a partner at CMEA Capital, The San Francisco Chronicle reported Thursday. "It's hard to imagine it will turn into a $270 billion company in the next few years," Jain said. In a sign that the company's ... Continue Reading... Post a Comment | Share Advertisement How to build an effective marketing business on the 'Net Get A Flawless Perfect Tan That Lasts Up To 10 Days - Click here Chrysler to repay taxpayers by July DETROIT (UPI) -- Automaker Chrysler Group LLC said Thursday it would settle its account with the U.S. government by the end of the second quarter. The company's expectation that it would pay off $7.4 billion in taxpayer loans was contingent on market conditions remaining favorable, The Detroit News reported. However, Chief Executive Officer Sergio Marchionne said Chrysler would issue debt securities and participate in a new loan facility to repay the debt that enabled it ... Continue Reading... Post a Comment | Share     More Headlines • Exelon to buy Constellation Energy: $7.9B • U.S. markets post gains • Grains shift lower Thursday • Oil prices waver at recent high • Gold at record $1,536     More News From ArcaMax Current News Entertainment News Business News Sports Political News Weird News Religious News Lifestyles

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