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On Thursday, Novartis, a Swiss-based pharmaceutical company, reported an enormous jump in first-quarter net profit.

The company's net profit rose to $13.005 billion from $2.968 billion in the year-ago quarter. Profit was boosted by a $10.8 billion gain from transactions with GlaxoSmithKline PLC and Eli Lilly and Co.

Novartis' animal health business was sold to American global pharmaceutical company Lilly. Novartis also bought cancer drugs from British multinational healthcare company GSK and sold its non-flu vaccines business.

Both the companies combined their consumer health care businesses. These deals helped the company to focus on three core businesses, which include pharmaceuticals, generic drugs and eye care.

South Korea's Hyundai Motor Co. reported a decline in profit for a fifth consecutive quarter.
The profits declined in China and United States due to the cost of promotions that were done to strengthen car sales and unfavorable foreign exchange trends.

Net income fell 1% to 1.91 trillion won ($1.76 billion) in the quarter that ended in March. It has beaten the 1.71 trillion won average of 23 analyst estimates that were compiled by Bloomberg.

The Seoul-based company's operating profit declined 18% to 1.59 trillion won, missing the 1.71 trillion won average of analyst estimates.

The Fast food restaurant company McDonald's reported first quarter results on Friday. The company reported that sales have declined and earnings per share missed Wall Street expectations. Steve Easterbrook, new chief executive of McDonald's, said that the company will announce changes to its menu in May. According to Easterbrook, the change in menu is a part of a company-wide turnaround bid.

On a call after the company’s announcement, Easterbrook told investors that it is necessary to fix the fundamentals right now. Easterbrook also said that he is not looking for incremental steps.

President Barack Obama’s trade agenda is all set to face objections of White House Democrats. Supporters of president’s trade agenda hope that endorsement by a Senate’s committee will help deal with partisan divides in the House.

On Thursday, Ways and Means Committee, a government body that reviews and makes recommendations for government budgets, will vote on ‘fast track’ bill, which is similar to a bill endorsed by the Senate Finance Committee on Wednesday. The bill will renew presidential authority to present trade deals that can be sanctioned or rejected by Congress. Congress will not be able to amend the trade deals.

Scientists have been trying to discover life beyond the solar system from a long time. Now, the hunt has gained a new partner, United States National Aeronautic Space Agency (NASA) climatologists.

After studying earth for more than three decades, a team at the NASA Goddard Institute for Space Studies (GISS) has decided to adapt its global climate model to replicate conditions on habitable exoplanets.

As per the report published in Nature, the effort by GISS is a part of a broader push to recognize Earth-like planets that the United States space agency launched on April 20 at a meeting in Washington DC.

Mary Doyle Keefe, who was model for 1943 ‘Rosie the Riveter’ painting of Norman Rockwell, died on Tuesday in Simsbury. ‘Rosie the Riveter’ painting symbolized the American women who had gone to work on the home front during World War II. According to reports, Keefe died at the age of 92 after a brief illness.

On Tuesday, she Keefe died peacefully in Simsbury, Connecticut. According to the Carmon Community Funeral Homes obituary, Keefe lived last eight years of her life at the McLean Village Community. Keefe’s death was confirmed by her daughter on Wednesday.