Walt Disney reports drop in second-quarter profit

LOS ANGELES, May 5 (Xinhua) -- The Walt Disney Co. in Burbank near Los Angeles suffered a 46-percent drop in second-quarter profit, compared to the same quarter a year ago, the company announced on Tuesday.

The company attributed the drop to the economic crisis and financial restructuring charges.

The company reported diluted earnings of 33 cents per share for the quarter that ended March 28, a 43-percent drop from the 58 cents per share in the prior year's second quarter. Net income for the quarter fell to 613 million dollars, down from 1.13 billion in the quarter a year ago.

The per-share earnings included a 10-cent-per-share hit attributable to restructuring and impairment charges, the company reported.

"We had a difficult second quarter due to the weak economy and other factors," said Robert Iger, Disney's president and chief executive officer.

"At the same time, we remain focused on our core business strategy and believe our creativity, brands and businesses will serve us well as the economy recovers."

Meanwhile, the company reported a 21-percent drop in revenue in its studio entertainment division and a 12-percent drop in parks and resorts.

Chicago soy futures drop for second day on weather concerns

CHICAGO, April 28 (Xinhua) -- Soybean futures in the Chicago Board of Trade fell for the second straight session on Tuesday due to the wet weather forecasts. Corn and wheat both rose slightly.

Soybean future for July delivery fell 14 cents to 9.83 U.S. dollars per bushel. July corn gained 2.75 cents, closing at 3.835 dollars a bushel. July wheat was up 2.5 cents, settled on 5.22 dollars per bushel.

Soybeans continue the downward trend from Monday, pressured by concerns of an acreage shift from corn to soybeans as weather delays continue in the eastern corn belt.

The weekly crop progress report released on Monday showed corn planting at 22 percent last week compared to the five year average of 28 percent and last year's same week plantings of 9 percent, which was considered to be bullish to corn.

Weather also remains a factor in wheat with improved moisture levels in the central and southern Plains bringing an improvement on Monday's Crop Conditions Report, according to which winter wheat in 18 states was rated 45 percent good to excellent and 27 percent poor to very poor, a little improved from the previous week.

The ideas that the spreading swine flu would reduce grains consumption continued to weigh on the soy market, said analysts.

Chinese shares drop 0.14% at midday

BEIJING, April 16 (Xinhua) -- Chinese equities ended Thursday's morning session 0.14 percent lower led by coal and real estate stocks.

The Shanghai composite index slid 3.52 points, or 0.14 percent, to close at 2,532.54, while the Shenzhen Component Index lost 31.13 points, or 0.32 percent, to 9,693.45.

Losses outnumbered gains by 426 to 374 in Shanghai and 434 to 241 in Shenzhen. Combined turnover was 150 billion yuan (21.96 billion U.S. dollars).

The National Bureau of Statistics figure showed Thursday that China's economy expanded by 6.1 percent year on year in the first quarter, the slowest in the past 10 years.

Slovenian car sales drop by 22% in first quarter

BELGRADE, April 8 (Xinhua) -- Car sales in Slovenia fell by some 22 percent to 14,648 in the first quarter of 2009, the Slovenian news agency STA reported on Wednesday.

The car sales in March also fell by 22 percent compared to the same period last year, dropping to 5,731, the agency reported, citing a report of the Slovenian Chamber of Commerce.

Renault remained the top-selling brand in Slovenia in March with 753 cars sold. This is 29.4 percent less than in the same month of 2008.

The only car maker to increase its sales in March was Kia, which sold 337 cars, which is up 98.2 percent year-on-year.