Biz Snipz: the current happenings of the business world

•  Apple reported quarterly earning on Tuesday that blew analyst’s estimates out of the water.  Net income in the fiscal second quarter climbed 94 percent to $11.6 billion and their sales rose 59 percent to $39.2 billion. iPhones produced 60% of Apple’s sales, the iPad accounted for 20% of total sales, and the iPop made up 13% of all sales. The big question is, will this Apple ever go sour?

• CNN Money reported the world’s largest economies for 2012. The United States took the crown as the world’s largest and most productive economy with a GDP on $15.6T; China was runner up with an $8.0T GDP, followed by Germany at $3.5T and France which has a $2.7T GDP.

•  Wal-Mart is at it again with new allegations of bribery from the world’s largest retailer having surfaced in Mexico.  Investigators found a paper trail of suspect payments totaling more than $24 million.

• As reported in The Archway several months ago, home prices continue to slide. The S&P/Case-Shiller home price index of 20 cities shows a decline of 3.5 percent from 12 months earlier. Year to date prices in Las Vegas dropped 8.5%, and in the most severe decline, Atlanta reported a 17.3% drop.

• Caterpillar Inc., the world’s largest maker of construction equipment, reported a gain in first-quarter revenue that was less than analysts estimated after sales fell in China and Brazil.  Revenue climbed 23% to $16 billion. Net income rose to $2.37 a share, beating the $2.13 average of 21 estimates.