Business News

Ford F-150 in Short Supply

BP reported a fall in profits, as the plunging price of oil continues to hit revenues for the sector. The Company posted a quarterly profit of $2.1 billion from $3.48 billion a year earlier. (Zacks)

French oil major Total reported a profit decline as its strongest production in a decade partially offset the impact of the oil-price collapse. Profit for the first three months of the year totaled $2.66 billion as compared with $3.34 billion a year earlier. Total increased production by 10%. (Energy Journal)

The big brown truck, United Parcel Service reported a higher quarterly net profit, which rose thanks to price increases and productivity improvements. The world's largest package delivery company posted a first-quarter profit of $1.03 billion, up 10% from $911 million last year. (Reuters)

The only domestic auto manufacture not to be bailed out by tax payers, Ford,  earned $924 million in the first quarter, down almost 7% from a year ago with greater losses than anticipated in South America and tight inventories of the profitable F-150 pickup. The automaker reported revenue of $33.9 billion, down $2 billion from a year ago. North American operations earned $1.3 billion, below last year's $1.5 billion. (USA Today)

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