1q

H.J. Heinz says its fiscal first-quarter profit rose 11 percent, fueled by double-digit sales growth in North America and Europe.

Medtronic says its fiscal first-quarter profit rose 11 percent on strong double-digit growth in its spinal and cardiovascular businesses.

New Zealand's government said Friday the economy shrank by 0.3 percent in the first quarter of 2008, but the country may just escape falling into recession if the central bank's forecast for minor second-quarter growth holds true.

Japan on Wednesday raised its reading for economic growth in the first quarter, driven up by a stronger-than-expected increase in capital investment.

But economists warned the world's No. 2 economy could slow to a standstill later this year.

Fannie Mae said Tuesday it lost $2.2 billion in the first quarter as home-loan delinquencies mounted and home prices declined more sharply than the mortgage finance company had expected.

The company said it expects 'severe weakness' in the housing market to continue this year, bringing increased mortgage defaults and foreclosures.

The number of U.S. homes heading toward foreclosure more than doubled in the first quarter from a year earlier, as weakening property values and tighter lending left many homeowners powerless to prevent homes from being auctioned to the highest bidder, a research firm said Monday.

Schering-Plough Corp. on Wednesday reported a 48 percent plunge in first-quarter net income, due to increased spending on research, higher overhead and costs related to an acquisition _ its biggest ever _ in the prior quarter.

The maker of hepatitis and cholesterol medicines and Nasonex for allergies posted net income of $253 million, or 15 cents per share, down from $543 million, or 36 cents per share in the year-ago quarter.

A year ago, The New York Times Co. made $23.9 million in profit. This week, the company reported a loss of $335,000.

That's about the worst quarter-to-quarter loss the company has ever seen. Bet its CEO is thinking: "Holy crap!

We're screwed!"