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Bank of America has reported a sharp rise in profits after it shed costs and set aside less money for bad loans. The bank reported first quarter net income of $2.3bn (£1.5bn), after making $328m in the same quarter a year ago.

Citigroup Inc reported a higher-than-expected 31 percent rise in first-quarter profit on Monday as it drew down loss reserves for mortgage loans, and revenue from its securities and investment banking business swelled.

Fannie Mae earned $17.2 billion last year, the biggest annual profit in the U.S. mortgage giant's history, helped by a record fourth quarter.

German carmaker BMW says 2012 was the best year in its history after it posted a rise in profits and record revenues.

Delta Air Lines' president said the carrier this year expects to achieve its first first-quarter profit since 2000.

Target Corp posted lower quarterly profit on Wednesday, as sales of food and value-priced items only partially mitigated some weakness it saw when holiday shoppers held back from discretionary spending in an uncertain economy.

Dell Inc on Tuesday reported a 31 percent drop in profit, hurt by a shrinking consumer business, as investors weighed founder Michael Dell's offer to buy out the world's No.3 maker of personal computers.

(Reuters) - What's Jeff Immelt going to do with the money? General Electric Co shareholders are wondering what the company's chief executive plans to do with a cash windfall that could total tens of billions of dollars over several years as the company sells its remaining stake in NBC Universal and recoups more of the profits earned by finance unit GE Capital.

Washington Post posted a profit as the company recorded fewer restructuring charges, although revenue was flat as its education division continued to struggle.

General Motors Co on Wednesday posted a far stronger-than-expected profit and said it was targeting a return to break-even levels in its money-losing European operations by mid-decade after a loss of as much as $1.8 billion in that region this year.