Tomahawk, WI 4/16/2012 -- Citigroup (C) reported lower first-quarter profit on Monday as the bank worked to contain expenses in the face of volatile capital markets and the need to finish overhauling its business portfolio after the financial crisis.Mattel (MAT), the toy company, said Monday that first-quarter net income declined 53%.
Mattel posted profit of $7.8 million, or 2 cents a share, down from year-earlier earnings of $16.6 million, or 5 cents. Adjusted earnings in the latest quarter were 6 cents a share.
The Federal Communications Commission has proposed fining Google (GOOG) $25,000 for obstructing an investigation into the company's collection of data from unencrypted Wi-Fi networks in 2010, according to a published media report.
Meanwhile, Oracle's (ORCL) case against Google over smartphone technology begins Monday in San Francisco with jury selection.
Oracle claims that Google's Android operating system infringes patents and copyrights associated with the Java programming language, which Oracle obtained through its purchase of Sun Microsystems.
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