Supermarket giant's sales rise
French retail giant Carrefour says its sales rose for the first time in 18 months in the first quarter of 2010, up 5.5 percent compared to a year earlier despite a "challenging" market environment. The world's second-largest retailer behind Wal-Mart Stores Inc says revenues based on current exchange rates rose to €23.96bn, from €22.7bn a year earlier.
Lehman sets out creditor payouts
Lehman Brothers Holdings said it could probably pay unsecured creditors 14.7 cents on the dollar if they agreed to a reorganisation plan that would take five years to complete, or less than the market price of many Lehman securities. Lehman's unsecured bonds have been trading at around 20 cents on the dollar, while guaranteed claims changed hands at 30 cents to 40 cents on the dollar, according to Kirk Ruddy, a senior vice-president of trading at APS Capital.
Apple in move against Kodak
Apple, maker of the iPhone and iPad tablet computer, filed a complaint against Eastman Kodak yesterday with the US International Trade Commission in Washington. Apple claims Kodak is violating its intellectual property rights and is seeking an order that would ban certain digital imaging devices. Kodak already has a patent-infringement case against Apple pending at the ITC.
Freddie Mac hires home-loan chief
Freddie Mac, the US government-supported mortgage company, hired former GMAC executive Anthony Renzi to fill a new position in which he will oversee efforts to minimize home-loan losses. Renzi, who spent 24 years at GMAC's mortgage unit, will serve as executive vice-president of single-family portfolio management, the McLean, Virginia-based company said.
US homebuilders more optimistic
US homebuilders are seeing a pickup in sales as homebuyers rush to qualify for tax incentives set to expire at the end of the month, and that's made them more optimistic. The National Association of Home Builders said its housing market index, tracking industry confidence, jumped four points to 19, the highest reading since September.