Business news briefs
This is an archived article that was published on sltrib.com in 2013, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

U. of Phoenix sets

leaders workshop

The University of Phoenix will host a free "Transformational Leadership Workshop" Thursday evening, offering resources to strengthen an individual's skills and information that can help organizations survive. The workshop, from 6 to 8:30 p.m., is at 5373 S. Green Street, Room 105, Salt Lake City. For information, go to www.phoenix.edu/startleading.

Cisco's 3Q profit

takes big jump

Cisco said its net income rose 14 percent in its third quarter, and reported it is seeing "some good signs" in the U.S. and in markets abroad. The maker of computer networking equipment, viewed as a technology industry bellwether, earned $2.48 billion, or 46 cents per share. Revenue increased 5 percent, to $12.22 billion from $11.59 billion.

Inflation slows,

data indicate

Sharp drops in fuel and food costs reduced a measure of wholesale prices last month by the most since February 2010, indicating inflation has slowed. The Labor Department says the producer price index, which measures price changes before they reach the consumer, fell 0.7 percent in April from March. It was the second straight decline. Gas prices dropped 6 percent, food prices 0.8 percent.

Manufacturers

cut production

U.S. manufacturers reined in production in April by 0.4 percent, the third decline in four months. Auto companies cranked out fewer cars, while other factories made fewer consumer goods. Total industrial production, which includes output at factories, mines and utilities, fell 0.5 percent last month, the biggest setback since August. The weakness suggests economic growth is slowing.

Macy's 1Q profit

jumps 20 percent

Macy's earned $217 million, or 55 cents per share, in the quarter ended May 4, up from $181 million, or 43 cents per share, a year ago. Revenue rose 4 percent, to $6.38 billion. A standout among its peers throughout the economic recovery, Macy's has benefited from its move to tailor merchandise to local markets.

Foreign U.S. debt

holdings increase

Foreign demand for U.S. Treasury securities rose to a record level in March, even though China, the largest foreign holder of Treasury debt, reduced its holdings slightly. The overall increase indicated that foreign investors remain confident in holding U.S. debt.

Deere profit up

after price hikes

Deere & Co. said its second-quarter net income rose almost 3 percent as it raised prices and the farm economy continued to be strong. Deere, which makes farm tractors, as well as construction equipment, earned $1.08 billion, or $2.76 per share, for its most recent quarter. That was up from $1.06 billion, or $2.61 per share, during the same period last year.