Category: Investing

Infographic: Charting Google’s Unstoppable Growth

On the technology-heavy Nasdaq index, shares of internet giant Google Inc gained 6 percent in early trading on Wednesday after posting improved quarterly profits. Since going public in 2004 the company has grown tremendously, passing the $50 billion revenue mark for the first time last year.

Despite lingering concerns about its transition to mobile, Google ended 2012 with a strong fourth quarter. As the company reported yesterday, full-year revenues topped $50 billion for the first time last year, while full-year profits soared to new highs of $10.75 billion.

Google Takes Renewable Energy Investments Over $1 Billion Mark

Internet giant Google Inc. on Wednesday announced an equity investment of $200 million into a 161-megawatt wind farm, taking its total investment in renewable energy to more than $1 billion – in projects that can generate up to 2 gigawatts of capacity.

Oldest Swiss Bank to Shut After Guilty Plea in US Tax Probe

Wegelin & Co., the oldest Swiss private bank, said on Thursday it would shut its doors permanently after pleading to a criminal conspiracy charge in the U.S. and admitting that it had helped wealthy Americans for years avoid tens of millions of dollars in taxes.

In the latest blow to Switzerland’s centuries-old banking secrecy laws, Wegelin became the latest bank on Thursday to reach a deal with U.S. prosecutors as they continue a crackdown on offshore banks suspected of helping American evade taxes.

HSBC Reaches $1.9bn Money Laundering Settlement with US Authorities

Europe’s largest bank by market value will pay $1.9 billion in fines to settle money laundering allegations by US regulators, according to sources familiar with the matter.

US State and Federal authorities decided against indicting HSBC in a money laundering case over concerns that criminal charges could jeopardize Europe’s largest bank by market value and ultimately destabilise the global financial system.

Featured Video: The Future of Energy

The world’s population has reached 7 billion and is forecasted to reach 9 billion by 2050. As the world’s population grows its need for water, food and energy will increase. But are we doing enough to safeguard our energy future?

Energy is vital to our daily lives. It helps us produce food, fuel transport and power communication channels across the world. Over the coming decades, more people will gain access to energy and enjoy higher standards of living.

Apple To Shift Some Manufacturing From China Back To US

Tech giant Apple Inc will invest nearly $100 million next year in order to shift a small proportion of its production capabilities back from China to the United States, announced its chief executive Tim Cook on Thursday, in a move widely seen as a high-profile test of American manufacturing competitiveness.

EU Slaps $1.96 Billion Fine On Electronics Firms For Price-Fixing

For nearly a decade, starting in 1996, senior executives from at least seven global electronics companies were conducting secret meetings, where they conspired to fix the price of picture and display tubes for television sets and computer screens, said EU’s top anti-trust regulator on Wednesday, following a three-year probe culminating in the largest fine – 1.47 billion euros ($1.96 billion) – ever imposed on a cartel.

SEC Sues “Big Four” Over China Audits

The Securities and Exchange Commission on Monday charged the Chinese affiliates of the so-called “Big Four” accounting firms for allegedly failing to cooperate and provide audit data related to nine Chinese firms that are currently investigated for potential accounting fraud.

US Companies Boosting Dividends Ahead of Fiscal Cliff

A record number of US companies are paying out special dividends this year in an attempt to avoid any possible tax hikes due to kick in at the beginning of 2013 if Congress and the White House cannot agree on a plan to reduce the federal budget deficit. 

With the fiscal cliff just a few weeks away and Congress still at odds, a record number of US companies have announced special dividends in recent months in order to escape potentially higher taxes on equity income payments.