This is an archived article that was published on sltrib.com in 2012, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.
Utah firms named
to Inner City 100 list
The Initiative for a Competitive Inner City and Fortune Magazine named the marketing firm Neutron Interactive and the Red Iguana restaurant chain to the 2012 Inner City 100, a list of the fastest-growing inner-city companies. The list recognizes successful companies and their CEOs as role models for entrepreneurship, innovative business practices and job creation.
Utah's ClearOne
reports softer Q1
ClearOne Communications Inc., a maker of audio and video conferencing equipment, said its 2012 first-quarter revenue declined slightly, to $10.2 million from $10.4 million a year ago. Net income declined to $453,000, or 5 cents per share, from $812,000, or 9 cents per share, for the first quarter of 2011.
EU issues warning about Spain
As the Spanish government readied steps to shore up the country's banks, the European Union injected a new dose of gloom by warning that Madrid was likely to miss its deficit-reduction targets this year and next. Spain is headed for a deficit of 6.4 percent of gross domestic product this year and 6.3 next — beyond the 3 percent maximum under European law.
Data suggest
Asian slowdown
Dismal data from China and India on Friday may signal a further weakening of the global recovery, undermining hopes Asia's emerging economies can help prop up growth. China's industrial production rose 9.3 percent from a year earlier in April, below expectations. India's industrial output fell 3.5 percent in March.
Wholesale costs
see a decline
A big decline in gas and energy costs drove U.S. wholesale prices lower in April. The Labor Department said the producer price index dropped 0.2 percent last month. It was the first decline since December and the biggest one-month drop since October.
Panasonic forecast
misses estimates
Panasonic Corp., Japan's biggest appliance maker, forecast a profit this year that missed analyst estimates because of lower demand for its TVs. Net income will probably be $627 million in the 12 months ending March 31, it said. The projection missed the $1.3 billion average of 18 analyst estimates compiled by Bloomberg.
Oil prices down
on China worries
Oil dropped to a 2012 low after China's growth unexpectedly slowed in April and concern grew that Europe's debt crisis will worsen, reducing fuel consumption. Crude for June delivery fell 95 cents, to $96.13 a barrel, on the New York Mercantile Exchange, the lowest settlement since Dec. 19. Prices slipped 2.4 percent this week and are down 2.7 percent this year.