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Winnipeg Free Press - PRINT EDITION
Business Watch
Job-seeking prospects dim
THE short-term prospects aren't looking so good for Winnipeg job-seekers, according to the latest monthly help-wanted index report from the Conference Board of Canada.
The board said April's index, which is based on the number of new, unduplicated jobs posted on 79 job-posting websites in Canada, was down in Winnipeg and 17 other cities.
Only one metropolitan area -- Kitchener-Cambridge-Waterloo -- showed improved employment prospects. Prospects were stable in the other seven cities surveyed.
Starbucks getting bugs out
NEW YORK -- Starbucks Corp. says it will stop using a red dye in its drinks that is derived from crushed bugs.
The Seattle-based coffee chain said in a blog post on its website Thursday it made the decision to reformulate its drinks after feedback from consumers prompted a "thorough" evaluation.
The company says it will swap out cochineal extract, which is made from the juice of a tiny beetle, and instead use lycopene, a tomato-based extract.
Expropriation proceeds
BUENOS AIRES, Argentina -- The government showed no signs of backing down Thursday from expropriating a Spanish company's controlling stake in Argentina's formerly state-owned energy company, shrugging off international condemnation while finding overwhelming support for the plan in congress.
Top officials also suggested Argentina won't pay anywhere near the $10.5 billion sought by Repsol-YPF SA for its stake, and the company might not see any money at all before years of battles in international courts.
Repsol shares have tumbled 17 per cent this week, and Standard and Poor's downgraded the company's stock Thursday to one step above junk.
Bank beats expectations
NEW YORK -- Morgan Stanley reported a first-quarter loss on a big accounting charge Thursday. But investors ignored the charge and focused instead on how the bank beat Wall Street's forecasts for earnings and revenue, sending the stock higher on a down day for the market.
Revenue rose to $8.9 billion from $7.8 billion a year ago excluding the charge, trouncing the $7.6 billion predicted by analysts polled by FactSet.
Capital One increases profit
LOS ANGELES -- Capital One Financial Corp. says its profit jumped 37 per cent in the first quarter, buoyed by the company's acquisition of online bank ING Direct and higher revenue.
The company said Thursday net income grew to $1.4 billion, or $2.72 a share, in the first three months of the year. That compares with net income of $1.02 billion, or $2.21 a share, in the same period last year.
Excluding the impact of the ING Direct purchase, Capital One earned $809 million, or $1.56 a share, in the latest quarter.
Total revenue climbed to $4.9 billion from $4.1 billion a year earlier.
Sales rise boosts Microsoft
REDMOND, Wash. -- Microsoft fared better than analysts anticipated in its latest quarter, boosted by a surprising rise in sales of its Windows operating system for personal computers.
The fiscal third-quarter performance announced Thursday comes as investors look forward to the release of Windows 8 later this year.
Microsoft Corp. earned $5.1 billion, or 60 cents per share, during the three months ending in March. That was down from net income of $5.2 billion, or 61 cents per share, a year ago.
Revenue rose six per cent from last year to $17.4 billion.
-- from the news services
Republished from the Winnipeg Free Press print edition April 20, 2012 B16
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Bernanke says computer revolution likely to provide various future gains to economic growth
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