San Francsico - Online retailer Amazon. com posted a 48 per cent rise in third-quarter profits Wednesday, but the challenging economic conditions prompted the company to curtail its outlook for the vital fourth-quarter holiday shopping season.
The Seattle-based company said net income rose to 118 million dollars, or 27 cents a share, from 80 million dollars, or 19 cents a share in the same period a year earlier. Revenue for the period rose 31 per cent to 4.26 billion dollars.
Washington - Wall Street indices tumbled again Wednesday as US investors reacted to a series of depressing earnings reports that offered more signs of a sharp economic downturn in the United States and abroad.
The Standard & Poor's 500 dropped 6.1 per cent and hit its lowest level since April 2003. That followed market slides in Asia and Europe, where the blue-chip Stoxx 50 index dropped 5 per cent in late trading as concerns set in about the outlook for the global economy and profits.
Washington - Nissan Motor Co and partner Renault SA are eyeing a 20-per-cent stake in Chrysler, as General Motors also pursues takeover talks with the country's third-largest automaker.
Nissan-Renault has long been reported to be interested in a deal. On Wednesday, the Detroit News cited people familiar with the matter, as saying the proposal has been submitted to Cerberus Capital Management LP, the current majority owner of Chrysler.
Germany's Daimler still owns 20 per cent of its one-time subsidiary.
Under the Nissan-Renault deal, Nissan would likely provide the financing as Renault is weighed down by 5 billion dollars in debts.
Washington - Wall Street indices continued their decline in midday trading Wednesday, adding to the gloomy mood on European markets as US investors reacted to depressed earnings reports.
Wall Street opened down 2.5 per cent and stocks slid in Asia, Europe's blue-chip Stoxx 50 index dropped 5 per cent to 2235 in late trading as concerns set in about the outlook for the global economy and profits.
Washington - The fifth larg
San Francsico - Online retailer Amazon. com posted a 48 per cent rise in third-quarter profits Wednesday, but the challenging economic conditions prompted the company to curtail its outlook for the vital fourth-quarter holiday shopping season.
Washington - Wall Street indices tumbled again Wednesday as US investors reacted to a series of depressing earnings reports that offered more signs of a sharp economic downturn in the United States and abroad.
Washington - Wall Street indices continued their decline in midday trading Wednesday, adding to the gloomy mood on European markets as US investors reacted to depressed earnings reports.
