Goldman Sachs Group Inc. said Tuesday its first-quarter earnings almost doubled to $3.3 billion as its trading business again surpassed the rest of the financial industry. It was a bit of good news for the bank as it faces a government civil fraud charge. loadposition in-article Goldman Sachs earned $5.59 a share on revenue of $12.78 billion as bond, commodities and currency trading buoyed its profits for yet another quarter. That was well above expectations of analysts surveyed by Thomson Reuters. In the fourth quarter, Goldman Sachs earned a record $4.79 billion. Goldman Sachs also reported sharply higher fees from underwriting stock and debt offerings. Even as it reported another strong quarter, the bank is facing a major challenge after being charged Friday in a civil fraud lawsuit by the Securities and Exchange and Commission. The SEC alleges that Goldman Sachs and one of its vice presidents misled…

Coca-Cola Co.’s first-quarter profit climbed 19 percent as the world’s largest drink maker continued to see rapid growth overseas. loadposition in-article That offset persistent weakness in the U.S. as shoppers skimped on purchases of soda, water, juices and teas. The results were weaker than analyst expectations. The company earned $1.61 billion, or 69 cents per share, in the quarter ending April 2. That’s up from earnings of $1.35 billion, or 58 cents a share, in the same period last year. Revenue rose 5 percent to $7.53 billion. Analysts expected earnings of 75 cents per share on revenue of $7.72 billion, according to Thomson Reuters. Shares fell 73 cents to $54.59. Worldwide case volume rose 3 percent, with international case volume growing faster at 5 percent. The company has been courting international drinkers as their economies improve by pitching its drinks as an affordable luxury. In North America, shoppers cut back on such purchases in…

The ash cloud from Iceland’s volcanic eruption brushed up against Canada’s Eastern seaboard Monday, but airlines said domestic flight cancellations were mostly because of fog.

Toys are increasingly making their way back into parents’ budgets, Hasbro Inc.’s results showed Monday. loadposition in-article A big spike in sales of girls’ toys and strong sales across the board helped Hasbro’s first-quarter profit nearly triple. Revenue from girls’ toys, including Littlest Pet Shop, My Little Pony and Strawberry Shortcake, rose 16 percent. The second-largest U.S. toymaker also said Monday that it is starting a $625 million share buyback program. Shares rose $1.06, or 2.7 percent, to close at $40.91 Monday after touching a 52-week high of $41 earlier in the session. Both Hasbro and Mattel Inc., the largest U.S. toy maker, reported strong first quarters, indicating parents are beginning to spend more on their children as fears about jobs and the economy ease. Toys are usually one of the first categories to recover after an economic downturn because many parents spend on their children…

IBM reported strong earnings Monday and boosted its outlook for the rest of the year, citing a double-digit increase in software sales. loadposition in-article The Armonk, N.Y.-based tech giant said its profit for the first quarter rose to $2.6 billion, up 13% from last year. The company earned $1.97 per share, beating expectations and jumping 16% from the same quarter last year. Analysts polled by Thomson Reuters were looking for earnings of $1.93 per share. Sales rose in the first quarter by 5% to $22.9 billion, beating analysts’ forecast of $22.75 billion. Revenue was boosted by growth in the company’s software sector, which increased 11%. “We had a very good start to the year,” Mark Loughridge, IBM chief financial officer, said in an earnings call. “Our best growth came from software, which is our most profitable and highest value area.” The company’s systems and…

Asia stocks rebounded from the biggest slump in two months as U.S. regulators were split on suing Goldman Sachs Group Inc. The yen fell as signs of a recovery damped demand for the Japanese currency as a refuge. loadposition in-article The MSCI Asia Pacific Index advanced 0.5 percent to 126.25 as of 12:32 p.m. in Tokyo after plunging 2.1 percent yesterday. The yen slid against 15 of 16 major counterparts. Futures on the Standard & Poor’s 500 Index were little changed. Banking shares in the U.S. and Asia jumped after a Bloomberg News report said the Securities and Exchange Commission voted 3-2 to sue Goldman Sachs for fraud. Japan’s demand for services fell less than economists estimated in February, highlighting the recovery is starting to benefit households, and Federal Reserve Bank of Chicago President Charles Evans said in a televised interview that the U.S. recession is “definitely over,” following news that the…

The stock market traded in a tight range Monday following mixed news about banks and a drop in airline stocks. loadposition in-article Investors remained concerned about the fallout from civil fraud charges that regulators filed last week against Goldman Sachs , but on the plus side Citigroup ’s earnings came in much better than expected. Shares of airlines fell after most European airports remained closed for a fifth day following the spread of ash from a volcano in Iceland. Analysts estimated that airline losses topped $1 billion. The Dow Jones industrials rose about 14 points in afternoon trading. Broader indexes also dropped. American Airlines parent AMR Corp. and United parent UAL Corp. each lost about 5 percent. A jump in the Conference Board ’s index of leading economic indicators gave some support to the market. The report signals that economic activity will strengthen in the next three to six months. The Conference…