Despite its disappointing stock market performance, Facebook has delivered strong financial results. Net income increased 7 percent to $219 million in the most recent quarter, compared with the previous year. Revenue was up 38 percent to $1.46 billion.
Consumer spending is likely to pick up this year, while government spending declines at a faster rate, according to a survey of business economists.
The price of silver was the standout mover in financial markets Monday as it took a hammering for the second trading session in a row, even as stocks remained relatively solid amid hopes over the U.S. economy.
Bloomberg LP, the financial news and information service, says it’s appointing Samuel Palmisano, the former CEO of IBM, as an independent advisor on its privacy and data standards.
The organic food industry is gaining influence on Capitol Hill, prompted by its entry into traditional farm states and by increasing consumer demand.
Encouraging news about the U.S. economy helped push stock prices higher on Wall Street Friday.
Apple says its customers have downloaded more than 50 billon applications from its App Store since its launch in 2008.
Two conservative religious groups say they were also the subject of unusual scrutiny from the Internal Revenue Service.
Nokia Corp. has unveiled its first Lumia smartphone with a metal cover, low-light camera features and new social network apps. But the new model failed to impress markets, sending the company’s stock down.
BlackBerry maker Research In Motion has unveiled a lower-cost BlackBerry that is designed for emerging markets.