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Android smartphone share to rise, prices to fall

WASHINGTON — Google’s Android mobile operating system will power nearly half of the smartphones worldwide by the end of next year, technology research company Gartner said Thursday. Worldwide smartphone sales will reach 468 million units this year, up 57.7 percent from 2010, increase to 630 million units next year and…

China set to outstrip US in science research output

LONDON (AFP) – China has shot to second place in the number of articles published in international science magazines and in a few years will take the top spot from the United States, according to a new report. “China has already overtaken the UK as the second leading producer of…

AIG recapitalization ends, share sale could reach $18 billion

US Treasury’s cash investment equals $68 billion NEW YORK – The recapitalization of bailed-out insurer American International Group Inc closed on Friday, leaving the government with a 92 percent stake that it plans to sell quickly. Bankers were buzzing on Friday about how soon that might happen, with at least one saying…

Exxon profits up 91%

Exxon Mobil Corp. said Thursday its second quarter income nearly doubled to $7.56 billion as oil prices increased from last year. It’s Exxon’s highest quarterly profit since the $7.82 billion earned in the last three months of 2008. Exxon set a record for quarterly earnings in the U.S. of $14.83…

Halliburton 2Q profit jumps 83 percent

Halliburton Co. says its second-quarter profit soared 83 percent as natural gas drilling activity picked up in the U.S. Halliburton is the first of several companies connected to the BP oil spill to report second-quarter financial results. The company, which was hired by BP to seal the Macondo well before…

Senator introduces legislation to shift tax burden back to billionaires

Independent Sen. Bernie Sanders (I-VT) is sick of the super-rich avoiding estate taxes. On Thursday, he made good on his word: he today introduced legislation to restore the estate tax on the wealthiest Americans, which he says would bring in at least $264 billion in the next ten years to…

BP shares tumble on dividend fears

LONDON — BP shares slumped on Wednesday as investors feared that intense political pressure from Washington over the Gulf of Mexico oil spill could force the group to axe its prized shareholder dividend. The share price sank by 4.24 percent to close at 391.55 pence, having earlier touched a low…

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