Business News - part 36
BUSINESS February 8, 2013 | 4:25 PM
- Virgin Media acquisition to help Liberty Global enter competitive European market
- 80% of Liberty Global revenue to come from Europe
- Liberty owned by American billionaire John Malone, known as America's King of Cable
Liberty Global, the world's second-largest cable company, is buying Virgin Media, Britain’s second-largest cable television provider, for over $16 billion to gain ground in one of Europe's largest and most competitive telecom markets.
Britain is Europe’s largest cable TV market by revenue.Read more »
BUSINESS February 7, 2013 | 11:50 AM
- Oracle pays over $2 billion for Acme Packet, session border control market leader
- Acme Packet largest Oracle acquisition since Taleo takeover
- Oracle, Acme Packet good fit because Acme customers already dependent on Oracle business management software
Oracle Corp., the world’s second-largest maker of business applications, is buying Acme Packet Inc. for $2.1 billion to expand into the networking equipment market.
Acme Packet is the leader in the internet session border control market, which is an industry worth under $1 billion. Acme Packet enables delivery of voice, data and unified communications services and applications across IP networks, and offers tools for the secure transfer of data across the internet.Read more »
BUSINESS February 6, 2013 | 11:50 AM
- Apple tablet market share drops 3% to total 44% worldwide
- 52.5 million tablets shipped worldwide in last quarter 2012; PC shipments down over 6%
- Samsung, Amazon and Asus beginning to make inroads into Apple market share
The Apple iPad still dominates the world of tablet computers, but during the fourth quarter of 2012, its market share slipped by nearly 3% to 44%, according to International Data Corporation’s Worldwide Quarterly Tablet Tracker.
This is the second consecutive quarter Apple market share has declined.Read more »
BUSINESS February 5, 2013 | 10:50 AM
- Company to drop RIM name for BlackBerry; new BlackBerry Z10 and Q10 smartphones announced
- UK gets new release first; US, Canada, United Arab Emirates to follow
- US carriers taking longer to test handsets than other markets
Research In Motion has launched its new BlackBerry 10 lineup – and along with it a new name – in the hope of returning to the fore of the smartphone segment that it once controlled.
CEO Thorsten Heins says the new BlackBerry will reignite the enthusiasm that over the last decade saw it become the must-have mobile device for businesses and professionals.Read more »
BUSINESS February 4, 2013 | 10:17 AM
- Amazon sales up 22% but profit falls 45%
- Amazon Web Services grow 68% in North America
- Amazon to build warehouses, fulfillment centers in US to minimize shipping costs
The world's largest internet retailer Amazon.com saw sales rise 22% to $21.27 billion during the fourth quarter of 2012, thanks to a strong holiday season boosted by rising purchases of e-books, and sales from its cloud computing services and video content.
Overall, Amazon expanded its digital media selection to 23 million movies, TV shows, songs, magazines, books, audio books, apps and games in 2012, up from 19 million at the end of 2011.Read more »
BUSINESS January 31, 2013 | 11:05 AM
- Philips transfers audio visual division to Japan’s Funai Electric
- Funai plans global expansion with latest acquisition from Philips
- Philips to focus now on health and well-being appliances
Electronics giant Royal Philips Electronics (Philips) is selling off its audio, video, multimedia and accessories division to Japan’s Funai Electric Co for over $202 million. The transaction is expected to close in the second half of 2013.
Philips Chief Executive Officer Frans van Houten says: "With this transaction we are taking another step in reshaping the Consumer Lifestyle portfolio and transforming Philips into a leading technology company in Health and Well-being. I am confident that today's agreement with Funai, our partner for over 25 years, will create a promising future for Philips Audio, Video and Entertainment, and continuity for our customers. It will leverage Philips' strong brand, strength in innovation, and leadership position in these businesses, with Funai's strong presence in North and Central America and Japan, and its supply and manufacturing expertise."Read more »
BUSINESS January 30, 2013 | 5:45 PM
- Ford, Daimler and Renault-Nissan to share costs and technology for hydrogen fuel cell vehicle project
- Alliance to speed up technology to market time and reduce costs passed to customers
- BMW, Toyota collaborating to develop next-generation “lithium-air” batteries for green vehicles
Automotive manufacturers Ford, Daimler and Renault-Nissan are joining forces to bring hydrogen fuel cell vehicles to market by 2017.
The car giants will share expenses as well as work together to develop technology and engines; in turn, each company will use the technology in its own vehicles.Read more »
BUSINESS January 29, 2013 | 2:39 PM
- United Continental to curb 2012 losses by laying off 600 front-office employees
- Unionized workers not included in cuts
- United Continental to focus on improving customer service going forward
The world's largest airline United Continental will lay off 600 front-office employees in its bid to recover from a net loss of $723 million overall in 2012 and a $620 million drop in the fourth quarter.
According to a United Continental spokesperson, the cuts will begin early in February 2013 and consist of voluntary and involuntary layoffs, with unfilled positions left vacant. The cuts include 6% of administrative and management staff.Read more »
BUSINESS January 28, 2013 | 2:56 PM
- Starbucks sales in Americas up 7% thanks to holiday promotions
- Starbucks sales up 11% in Asia-Pacific, while sales in EMEA down 1%
- Starbucks to expand with thousands of new cafes in Americas, China
The world’s largest coffee chain Starbucks Corp reported profit increased 13% globally for the first fiscal quarter of 2013, with growth boosted by higher sales in the Americas and Asia-Pacific.
Sales in the Americas, Starbuck’s key market, rose 7% thanks to annual holiday deals offered by the coffee giant.Read more »
BUSINESS January 25, 2013 | 10:25 AM
- Google revenue up 36% in fourth quarter 2012 compared to 2011
- Google desktop search clicks down 4% in last six months
- Competition from mobile presents challenge for Google
Search engine leader Google has posted $50 billion in annual revenue for the first time, with fourth-quarter revenue of $14 billion, or 36% higher than for the same period in 2011.
Google CEO Larry Page says: "In today's multi-screen world we face tremendous opportunities as a technology company focused on user benefit. It's an incredibly exciting time to be at Google."Read more »