BUSINESS December 20, 2012 | 1:50 PM
US television ratings leader Nielsen Holdings is buying radio ratings technology company Arbitron for $1.26 billion to improve monitoring of unmeasured areas of media consumption, such as out-of-home and streaming audio.
The deal will allow Nielson to offer advertisers better insight into consumer behavior across television, radio and web media so they can maximize marketing investments.Read more »
BUSINESS December 19, 2012 | 11:28 AM
Apple Inc. set a sales record in China with the debut of the iPhone5, selling over 2 million smartphones in the first three days.
Apple chief executive Tim Cook says: “China is a very important market for us and customers there cannot wait to get their hands on Apple products.” Prior to the iPhone 5 launch, investors feared the iPhone was doing poorly in China.Read more »
BUSINESS December 18, 2012 | 3:42 PM
The value of the global military aviation maintenance, repair and overhaul (MRO) industry is forecast to jump from $28 billion to $39.4 billion over the next ten years, marking an average increase of 3.49% per year.
According to research from global defense industry intelligence provider Strategic Defence Intelligence, today’s economic climate is prompting key spenders like the US, the UK, France and Germany to reduce their defense budgets, and to maintain, repair and upgrade their existing fleet instead of buying new equipment.Read more »
BUSINESS December 18, 2012 | 3:13 PM
Leading business search engine ReportLinker.com now ranks number 375 on the Deloitte Technology Fast 500 EMEA 2012, a list of the 500 fastest-growing technology companies in Europe, the Middle East and Africa.
“We are honored to be recognized as a technology leader on the Deloitte Technology Fast 500 list for the third year in a row, recording a 392% five-year revenue growth rate. Going forward, we will continue to invest in and evolve our technology to best deliver trusted data from both public and private sources to our customers,” says CEO Benjamin Carpano.Read more »
BUSINESS December 17, 2012 | 3:40 PM
With a focus on green automotive making, Japan’s second-largest automobile manufacturer Nissan Motor Co has recently celebrated the two-year sales anniversary of its pure-electric vehicle model called LEAF, and is now manufacturing lithium-ion batteries used for all-electric cars.
Located in Smyrna, Tennessee, the new battery plant will produce up to 200,000 batteries annually, depending on demand, and is only one of three of its kind globally to be operated by a major automobile manufacturer.Read more »
BUSINESS December 14, 2012 | 11:03 AM
Satellite TV provider Dish Network Corp.’s proposal to provide smartphone services has been approved by the US Federal Communications Commission (FCC), taking an integral step toward encouraging wireless competition in the US telecommunications market.
The new network will help eliminate the time lag in relaying signals between satellites associated with traditional wireless service.Read more »
BUSINESS December 13, 2012 | 11:33 AM
Delta Air Lines, the second-largest airline in the US by revenue, has agreed to purchase a 49% stake in British airline Virgin Atlantic for $360 million, so that both airlines can better compete for passengers on the busy New York-London route.
Under the agreement, Delta and Virgin Atlantic will expand their network at London’s Heathrow airport as well as share costs and revenue generated from flights between North America and Britain.Read more »
BUSINESS December 12, 2012 | 11:44 AM
Europe’s largest bank HSBC Holdings Plc will pay a record fine of $1.92 billion to settle a probe by the US Justice Department linked to money laundering and violating sanctions laws.
HSBC is accused of handling transactions through the US to non-US banks from nations such as Mexico, Cuba, Burma, Sudan, North Korea and Iran. Bank records were also reportedly altered.Read more »
BUSINESS December 11, 2012 | 12:13 PM
Citigroup, the third-largest bank in the US based on assets, will cut 11,000 jobs – or roughly 4% of its current workforce – to streamline operations.
Some 6,200 job cuts will be in the consumer banking unit, and the rest of the cuts will come from the selling or downsizing of branches in Uruguay, Turkey, Romania, Paraguay and Pakistan.Read more »
BUSINESS December 10, 2012 | 10:40 AM
Delta Air Lines Inc., the world’s second-largest airline, will purchase up to 70 regional jets from Canadian small-jet manufacturer Bombardier Inc. as part of Delta’s plans to update its aging fleet.
The order is for 40 CRJ900 NextGen aircraft, which have a list-price value of $1.85 billion. Delta has the option to buy 30 more, which would raise the price to $3.29 billion. However, it is common for airlines to negotiate list-price discounts.Read more »
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