BUSINESS April 6, 2012 | 9:08 AM
The Japan Automobile Dealers Association recently announced that new vehicle sales in Japan jumped 78% in March, in part due to local government subsidies for energy efficient cars.
According to the association, new auto sales reached nearly 500,000 vehicles last month, up over 200,000 vehicles from March 2011 when Japan was struck by a massive earthquake and tsunami, dramatically impacting vehicle production and sales.Read more »
BUSINESS April 3, 2012 | 9:58 AM
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 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 »
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 »
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 »
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