Business news briefs
Goal Zero founder
The Utah Valley Entrepreneurial Forum has named Robert Workman, founder and chairman of Goal Zero, as Social Entrepreneur of the Year. The annual award recognizes Utah companies and leaders for innovation, business growth and contributions to the entrepreneurial community. Goal Zero's products provide eco-friendly portable power.
Vivint donates to
Vivint Inc., a Provo-based home automation and security company, is joining with the Ronald McDonald House Charities of the Intermountain Area to help provide families with a place to stay while their children receive pediatric care at Salt Lake City-area hospitals. The company is donating $100,000 to the Salt Lake City Ronald McDonald House and an additional $10,000 in supplies.
Intel posts lower
Intel, the world's largest chipmaker, says its fourth-quarter net income fell 27 percent from the previous year as PC sales continued to weaken. Net income was $2.47 billion, or 48 cents per share, for the October-to-December period. That was down from $3.36 billion, or 64 cents per share, a year ago.
Earnings at big
Citigroup's earnings rose in the fourth quarter. It earned $1.16 billion, or 38 cents per share, in the three months ended Dec. 31. That compares with $933 million, or 31 cents per share, in the same period a year earlier. Bank of America's profit dropped 63 percent. It's net income fell in the fourth quarter to $732 million, or 3 cents per share, from $1.99 billion, or 15 cents a share last year.
The number of Americans applying for unemployment assistance plummeted to a five-year low last week, a sign the job market may be improving. Applications are a proxy for layoffs. Weekly unemployment benefit applications tracked by the Labor Department fell 37,000 to a seasonally adjusted 335,000, the lowest level since just after the recession began in December 2007.
rose in 2012
U.S. builders started work on homes in December at the fastest pace in 4 Â½ years and finished 2012 as their best year for residential construction since the early stages of the housing crisis. The Commerce Department said builders broke ground on houses and apartments last month at a seasonally adjusted annual rate of 954,000 units, nearly double the recession low reached in April 2009.
Q4 earnings fall
American Express's net income fell 47 percent in the fourth quarter as the credit card issuer racked up hefty charges related to restructuring costs and other one-time expenses. It posted net income of $637 million, or 56 cents per share, for the three months ended Dec. 31. That compares with net income of $1.2 billion, or $1.01 per share, in the same period last year.