Top Headlines May 2012 - part 3
FINANCE April 4, 2012 | 11:42 AM
- TVP to take 70% stake in TP Vision; Philips gets 30%
- 3,000 Philips TV employees to be retained in new venture
- Philips television division racked up losses of €1 billion in last 5 years
Dutch electronics company Philips has finalized terms for a joint venture with Hong Kong-based TVP Technology for the transfer of its struggling television arm.
Computer and LCD screen manufacturer TVP will have a 70% stake in the new TP Vision business, which will be based in Amsterdam. Philips will hold the remaining 30%.Read more »
BUSINESS April 3, 2012 | 9:58 AM
- Tokyo Electric Power Co. needs funds to run company, pay compensation
- Company on verge of insolvency
- Bailout could lead to reform of utility industry
Tokyo Electric Power Co., the power company behind the Fukushima Daiichi nuclear station disaster, will seek $22.2 billion from the Japanese government. Of that amount, $12 billion will be used to keep the company afloat, and $10.2 billion will be used to pay compensation claims.
Last March, the Fukushima plant suffered a meltdown caused by an earthquake and tsunami. Over 100,000 people were displaced after radiation was released into the air. Fishing and farm industries were also affected.Read more »
BUSINESS April 2, 2012 | 2:44 PM
- Android to take 31.1% market share by 2016
- Windows market share to drop to 25.1%
- iOS share to rise to 17.3%
Android will overtake Windows as the world’s most popular smart connected device platform by 2016, according to a report from the International Data Corporation.
The Windows x86 operating system is currently the leader in the smart connected device market, with 35.9% share. However, IDC predicts a sharp drop in the popularity of Microsoft’s platform over the next five years, forecasting its share to slump to 25.1% by 2016.Read more »