TODAY'S PAPER
78° Good Afternoon
78° Good Afternoon
Business

VC investments fall ... and other business briefs

LONG ISLAND

Venture capital skips LI

Venture-capital investments in New York metro companies fell 46 percent in the third quarter from a year ago, a report released Monday shows. No Long Island company received venture-capital funding in the July to September period, the report said. Venture capitalists invested more than $512 million in metro area companies in the third quarter, versus more than $891 million a year ago, said the MoneyTree report, which is published by PricewaterhouseCoopers and the National Venture Capital Association. The number of companies receiving funds dropped to 88 from 103 a year ago. The last time investors passed up Long Island was in the fourth quarter of 2010. "To ensure more consistent funding, Long Island business and government leaders should assess their current strategy of building and promoting the ecosystem necessary to attract and grow venture-backed businesses," said David Silverman, a PricewaterhouseCoopers managing partner. -- Carrie Mason-Draffen


Pall predicts lower sales in '13

Shares of Pall Corp., a maker of water-filtration and purification systems, fell nearly 5 percent Monday, after the company said it anticipated that 2013 sales would be lower than expected. The Port Washington company included its updated 2013 forecast in a filing to the U.S. Securities and Exchange Commission, saying first-quarter orders are down about 4 percent. The company also said it expected 2013 earnings per share would be on the low end of the $3.05 to $3.25 range it released in September. The company's shares closed at $60.81, down $3.14. -- Joe Ryan


Some tax deadlines extended

The IRS is again extending some tax deadlines for businesses and individuals affected by superstorm Sandy. Those businesses whose payroll and excise tax returns and payments came due starting Oct. 31 now have until Feb. 1 to file them. An earlier extension set a Nov. 7 deadline. The new deadline also includes fourth-quarter individual estimated tax payments, which would have been due on Jan. 15. "The IRS automatically provides this relief to any taxpayer located in the disaster area," the agency said in a statement. "Taxpayers need not contact the IRS to get this relief." -- Carrie Mason-Draffen


NATION

More sales after Mini launch

Apple says it sold 3 million iPads of all kinds in the first three days it sold the new Mini model. Apple started selling the Mini on Friday, starting at $329. It's a third smaller than the full-size iPad. The sales figure compares with 1.5 million iPads sold in the first three days after Apple launched the third-generation iPad in March and cut the price of the iPad 2. The full-size iPad got an update on Friday as well, with a faster processor and a better front-facing camera. The launch encompassed 34 countries, including the United States, Japan, Germany and Britain. According to analyst Brian White at Topeka Capital Markets, the Mini model sold out at 60 percent of U.S. Apple stores.


WORLD

Toyota profit beats forecasts

Toyota's quarterly profit tripled, driven by a recovery from natural disasters, and the company raised its full-year earnings forecast Monday despite a sales slump in China. Toyota Motor Corp., on track to regain the crown of world's No. 1 automaker this year, reported a July-September net profit of $3.2 billion, better than the $3-billion forecast by analysts surveyed by FactSet. Japan's top automaker raised its profit forecast for the full fiscal year through March 2013 to $9.8 billion. The company's optimism comes despite a sales plunge in China, where a territorial dispute over tiny islands known as Senkaku in Japan and Diaoyu in China has set off protests and a boycott of Japanese cars in recent months. -- AP

Comments

We're revamping our Comments section. Learn more and share your input.

More news