GM profits dip a 3rd;
N. America saves day
High costs and falling sales in Europe weighed on General Motors' first-quarter profit. The world's largest carmaker earned less than a third of what it took in a year earlier, even with a big profit from its bedrock market in North America.
UFood Grill opens
at SLC airport
UFood Restaurant Group, which aims to offer a healthy take on fast food at its UFood Grill, is opening two locations at the Salt Lake City International Airport. The company said its UFood Grills offer meals that are lower in calories and fat, and serve food that is hormone-free and gluten-free.
Carlyle misses big
in its trading debut
Carlyle Group LP, the world's second-largest private-equity firm, failed to provide investors with the big first-day trading gain it was seeking after pricing its initial public offering at a discount to rivals. The stock, priced at $22 a share in the IPO, less than Carlyle initially sought.
Pension fund boards
blast Walmart actions
Two pension fund boards lashed out Thursday at Walmart over concerns about the retailer's bribery scandal in Mexico. New York City Pension Funds urged shareholders to vote against the re-election of CEO Mike Duke and four other board members. The California State Teachers' Retirement System sued Walmart's board and several executives charging they breached their fiduciary duties.
LinkedIn makes big
buy, posts solid Q1
LinkedIn Corp., which went public a year ago, said Thursday its first-quarter profit more than doubled, and the business networking company is buying presentation sharing website SlideShare for $118.8 million. Shares jumped 8 percent in extended trading.
Freddie seeks $19M
after big Q1 loss
Government-controlled mortgage giant Freddie Mac is requesting $19 million in additional federal aid after posting a first-quarter loss. The requested amount is less than the $146 million Freddie received for the fourth quarter of 2011. The company received $7.6 billion for all of 2011 and $13 billion for all of 2010.
Yahoo confirms CEO's résumé misleading
A disgruntled Yahoo shareholder questioned the qualifications and integrity of recently hired CEO Scott Thompson after exposing a misrepresentation about the executive's education. The fabrication confirmed Thursday by Yahoo Inc. gives New York hedge fund manager Daniel Loeb more artillery as he tries to topple a board of directors favored by Thompson, who became CEO of the troubled Internet company four months ago.
Samsung reveals new Galaxy smartphone
Samsung Electronics Co.'s latest Galaxy phone will have a high-definition touch screen that's nearly twice the size of the iPhone, while being thinner and lighter than Apple's phone. The Galaxy line has emerged as the biggest competitor to the iPhone. Samsung said the Galaxy S III will go on sale in Europe on May 29 and in the U.S. this summer. The Korean company showed off the phone Thursday.
