October 2, 2014 2:25 pm
Samsung Electronics Co. Ltd announced its intentions to build a $560-million factory in Vietnams Ho Chi Minh City as part of its strategy to expand production in the country, benefiting from its cheap labor costs. The 700 000-square-meter complex, where Samsung will manufacture TVs and other home appliances, will be used to meet mid- and […]
Read moreOctober 2, 2014 12:44 pm
Toulouse-based Airbus Group NV was reported to be closing in on a settlement with Japans third-biggest carrier, Skymark Airlines Inc, over a canceled order of six Airbus A380 superjumbo jets. The shares of both companies rose, with Skymark surging by an intraday 11%, as investors greeted the possible resolution after months-long quarrel. The Japanese carrier […]
Read moreOctober 2, 2014 12:19 pm
DirecTV reached an agreement with the National Football League to continue airing games every Sunday for a reported price of $1.5bn per year for eight years, costing the network $12bn. “NFL Sunday Ticket has always been the centerpiece of DirecTV’s sports leadership and we’re pleased to continue our relationship with the NFL and be a […]
Read moreOctober 2, 2014 11:40 am
Verizon Communications Inc., the biggest wireless carrier in the US, launched its October promotional line-up, meeting expectations to double data offers, following suit after top rivals Sprint and AT&T had already launched the “price war”. The announcement comes after on Saturday AT&T said that it intends to double the data amount available on higher-end share […]
Read moreOctober 2, 2014 9:16 am
Hyundai Motor Co. reached a tentative deal with its unionized workers in South Korea following a close vote in favor of a proposed payment raise, putting an end to walkouts which may cost the company more than $800 million in lost output. Union spokesman Hwang Ki Tae announced that the long-expected settlement between labor representatives […]
Read moreOctober 2, 2014 8:24 am
Coca-Cola Co. gave in to investor pressure and agreed to curb a senior-executive compensation plan which was categorized as “excessive” by Warren Buffet and faced criticism by other large shareholders. “Coca-Cola has finally conceded that the equity compensation plan it put to a vote of shareholders in April was outrageously excessive and inconsistent with past […]
Read moreOctober 2, 2014 7:02 am
The second-biggest beverage maker in the world – PepsiCo Inc. – is launching a new stevia-sweetened fizzy drink through Amazon that will contain 30% less calories compared to conventional sodas. “American consumers want to make sure they don’t compromise taste,” Simon Lowden, Pepsi’s chief marketing officer for North American beverages, said in a phone interview, […]
Read moreOctober 1, 2014 3:28 pm
A federal judge ruled out on Tuesday that JPMorgan Chase and Co. must face a class action lawsuit by investors, who claimed that they were misled about the risk of $10 billion of mortgage-backed securities, which were sold before the beginning of the financial crisis. U.S. District Judge J. Paul Oetken said that investors claims […]
Read moreOctober 1, 2014 2:24 pm
Chrysler Group LLC, owned by Fiat SpA, reported on Wednesday that sales in the United States rose by 19% in September from a year earlier, its third consecutive month of double-digit growth in the region. An equal jump in sales registered by Nissan Motor Co. showed the industry kept on pushing forward amid high customer […]
Read moreOctober 1, 2014 2:02 pm
Tesco Plc is being investigated by the Financial Conduct Authority, UKs financial watchdog, after the company overstated its profit for the first six months of the year, the agency said, sending Tescos stock plummeting. The UK-based grocer nodded about the regulators probe, after it suspended four of its executives in light of its latest earnings […]
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