Business news briefs
Credit union, Jazz
join cancer fight
For the fourth year in a row, the Utah Jazz and Mountain America Credit Union have teamed up to help fight the cancer. Each time a Jazz player makes a three-point shot this season, Mountain America will donate $50 to the Huntsman Cancer Foundation. The credit union has donated more than $100,000 since 2009.
Q1 revenue up
Headwaters Inc., a Utah building products company, said revenue in its first quarter of 2013 revenue increased 9 percent to $146.6 million. That helped to cut its net loss from $23.7 million, or 39 cents per share, in the first quarter of 2012 to just $5.9 million, or 9 cents per share, this year.
Ford earns $1.6B
in fourth quarter
Ford earned $1.6 billion in the fourth quarter as sales rose in every region outside Europe. Net income fell from $13.6 billion in the same quarter of last year, but that figure included a big accounting-related gain. Without that gain, Ford's earnings were up from $1 billion in the fourth quarter of last year. Revenue rose 5 percent to $36.5 billion.
Hostess to name
The indestructible Twinkie appears to be one step closer to a comeback. Hostess is close to announcing it has picked two investment firms C. Dean Metropoulos & Co. and Apollo Global Management as the lead bidders for Twinkies and other snack cakes. After years of turmoil and turnover, Hostess said in November that it was going out of business and selling its brands.
Apple debuts iPad
with more memory
Apple Inc. debuted an iPad with twice the memory of existing models, offering users more space to store movies, videos and books amid mounting competition. The new iPad with 128 gigabytes of storage will be available Feb. 5, priced at $799 for a Wi-Fi version and $929 for a device that also offers a cellular connection.
Amazon sees 4Q
net income drop
Amazon.com's fourth-quarter net income fell 45 percent as higher revenue failed to keep pace with increased spending on order fulfillment and digital content. The company earned $97 million, or 21 cents per share, in the October-December period, down from $177 million, or 38 cents per share, in the same period a year earlier. Revenue grew 22 percent to $21.27 billion.
Fed will likely
keep rates low
After the Federal Reserve governors meets this week, the central bank is likely to reaffirm that consumers and businesses will be able to borrow cheaply . Last month, it said as long as the inflation outlook is mild, it would keep short-term interest rates near zero until unemployment dips below 6.5 percent from the current 7.8 percent.