BUSINESS March 29, 2012 | 11:10 AM
Research In Motion Ltd., manufacturer of the BlackBerry mobile device, is losing sales and revenue in its native Canada to Apple Inc’s star iPhone. In 2011, for the first time since the debut of the BlackBerry, the company failed to reach the top spot for smartphone sales.
According to research compiled by IDC and Bloomberg, 2.08 million BlackBerrys were sold last year compared to 2.82 million iPhones.Read more »
BUSINESS March 27, 2012 | 12:45 PM
Ford has set in motion its new $1 billion manufacturing plant in Gujarat, India, despite the country’s uncertain economic forecast.
At a ceremony at the Sanand plant in western India, Ford India laid the cornerstone at the shop, which will grow into a state-of-the-art facility. Around 240,000 new cars and 270,000 engines will be manufactured per year for both domestic and export markets.Read more »
BUSINESS March 26, 2012 | 12:26 PM
Starbucks plans to break into the rapidly expanding energy drinks market with its new fruit juice and coffee extract beverage, called Starbucks Refreshers.
The plans were outlined at the coffee giant’s annual shareholder gathering in Seattle, with chief executive Howard Schultz announcing the creation of additional manufacturing jobs in the United States.Read more »
ECONOMY March 26, 2012 | 11:10 AM
Production in Europe's manufacturing and service industries fell in March, suggesting that the eurozone may be sliding back into a recession.
According to private firm Markit Economics, the purchasing managers index, or PMI, for both industries combined fell to a three-year low of 48.7 from 49.3 in February.Read more »
BUSINESS March 23, 2012 | 11:08 AM
Top computer maker Hewlett-Packard Co. will combine its personal computer and printing divisions in an effort to save money and make it easier for customers to buy products, according to Reuters.
These units were previously combined but were separated in 2005. For the fiscal year 2011, both divisions had a total of $65.35 billion in revenue.Read more »
BUSINESS March 23, 2012 | 10:16 AM
The number of US airline passengers should double in the next two decades, says a government forecast.
However, airplanes are packed and fares are going up, with carriers cutting less-profitable routes.Read more »
BUSINESS March 22, 2012 | 11:10 AM
Royal Dutch Shell has agreed to a production sharing contract with state-run China National Petroleum Corporation (CNPC) to explore and produce shale gas in the southwest of China.
The project will concentrate on the 3,500 square kilometer Fushun-Yongchuan shale gas block in Sichuan province. The deal is the first venture to be signed with a foreign company in China’s shale gas industry and is subject to approval by Chinese authorities.Read more »
BUSINESS March 21, 2012 | 12:01 PM
Hotel brand Starwood has launched a new benefit for elite members, called “Your24,” which lets members take advantage of 24-hour check-ins.
Your24 is one of several new elite benefits that make the award-winning Starwood Preferred Guest the “richest elite program in the industry,” according to the hotel chain.Read more »
BUSINESS March 20, 2012 | 3:47 PM
The world’s largest delivery company has just gotten larger: Atlanta, GA, based United Parcel Service Inc. will purchase Europe’s second-biggest express mail company TNT Express NV for $6.77 billion. This is the largest acquisition in UPS history.
The combined company will have 475,000 employees worldwide, and is predicted to be worth $79 billion in annual sales. It will also be on-par with German-owned DHL, Europe’s largest carrier, which has nearly an 18% market share.Read more »
BUSINESS March 19, 2012 | 3:18 PM
Online payment giant PayPal has announced its new, much-anticipated mobile payment system, called PayPal Here, which lets small businesses process credit card transactions using an iPhone.
The company, a division of eBay, is also currently working on an app that will be compatible with the iOS and Android devices as well.Read more »
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