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Business News - part 4

Smartphone News: BlackBerry Future Plans Centered on BBM, Core Business Customers

Smartphone News: BlackBerry Future Plans Centered on BBM, Core Business Customers

BUSINESS

  • New BlackBerry CEO John Chen strengthening BlackBerry Messenger service with better encryption technology and extension to Windows Phone platform
  • Present focus to engage company’s 80,000 existing core business clients
  • New BlackBerry smartphones to bring back popular features such as ‘send,’ ‘end,’ and ‘menu’ buttons

BlackBerry CEO John Chen has announced plans to sell or create new products related to the BlackBerry Messenger (BBM) smartphone service to help build a stronger foundation for the company.

With Chen centering his efforts to boost the Waterloo, Ontario-based company on BBM, BlackBerry’s instant-messenger, as well as BlackBerry’s business customers, the company’s stock has risen steadily after a period of decline.

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Airbus To Increase Production Of A320 Aircraft By 10%

Airbus To Increase Production Of A320 Aircraft By 10%

BUSINESS

  • Airbus to produce 46 model A320 aircraft per month produced by 2016
  • Airbus has backlog of 5,500 jets
  • Airbus reports 2013 income up 21%

Airbus Group NV, Europe’s largest aerospace company, plans to increase production of its A320 model by 10% to 46 aircraft per month by 2016.

Last year, demand for new aircraft rose 22%, and Airbus secured orders for over 1,500 new planes worth $225 billion in list prices. Growth was seen primarily in emerging markets, but also from American carriers replacing their aging fleets.

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Video Streaming Service Netflix To Pay Comcast For Faster Internet Speed

Video Streaming Service Netflix To Pay Comcast For Faster Internet Speed

BUSINESS

  • Terms of deal not revealed 
  • Netflix to provide videos quicker, more clearly
  • US law allows providers to charge websites more

Netflix Inc., the world’s largest subscription video-streaming service, has agreed to pay Comcast Corp., one of the largest US broadband providers, for faster internet speeds to provide customers with better service.

The terms of the deal were not revealed, but are rumored to be in the millions of dollars, according to Bloomberg.

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Media Giant Comcast Buys Time Warner Cable To Expand Pay TV, Broadband Services

Media Giant Comcast Buys Time Warner Cable To Expand Pay TV, Broadband Services

BUSINESS

  • Comcast buys Time Warner Cable for $45.2 billion to create a dominant force in the US cable market
  • Comcast and Time Warner Cable anticipated to save $1.5 billion in yearly fees over 3 years
  • Joint company to have roughly 30 million subscribers

Media and communications giant Comcast Corp. plans to acquire Time Warner Cable Inc. at a $45.2 billion price tag; this all-stock agreement would see the two largest cable TV corporations in the US joining forces.

This deal is anticipated to close by year end once regulatory and shareholder approval is given.  

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Internet Services Company Rakuten Buys Mobile App Viber For $900 Million

Internet Services Company Rakuten Buys Mobile App Viber For $900 Million

BUSINESS

  • Rakuten buys Viber to expand into emerging markets
  • Viber has 300 million users
  • Social messaging app market to continue growing

Japanese Internet services company Rakuten Inc. has bought messaging app and VoIP company Viber for $900 million, allowing it to expand into emerging markets.

Rakuten Group owns Canadian e-reader Kobo and online retailer Play.com, and offers 40 services to 225 million global members.

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Barclays To Mitigate Heavy Losses With 12,000 Job Cuts

Barclays To Mitigate Heavy Losses With 12,000 Job Cuts

BUSINESS

  • Barclays cutting jobs as part of restructuring efforts in face of international exchange rate scandal and fourth quarter loss of over $1 billion  
  • Rebuilding efforts since 2012 include 7,650 job cuts and future reduction of business units
  • Barclays under fire for increasing funding to bonus pool

London, England-based Barclays bank will eliminate up to 12,000 jobs—roughly 8% of its present labor force of 140,000—in 2014. These jobs cuts are the latest in a challenging restructuring plan that started last year and will involve 7,000 jobs in Britain as well as about 800 management personnel positions.

These cuts are a way to mitigate heavy financial losses in the fourth quarter, linked with reputational damage as well as higher government charges for banks with liabilities in excess of 20 billion pounds (roughly $33.4 billion).

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Irish Pharmaceutical Company Mallinckrodt Buys Pain-Management Drug Specialist Cadence

Irish Pharmaceutical Company Mallinckrodt Buys Pain-Management Drug Specialist Cadence

BUSINESS

  • Mallinckrodt paid $1.3 billion for American biopharmaceutical firm Cadence Pharmaceuticals
  • Mallinckrodt to reduce focus on medical imaging and instead invest in specialty drugs
  • Cadence’s top drug brings in millions in revenue

Irish pharmaceutical company Mallinckrodt PLC has agreed to purchase American biopharmaceutical firm Cadence Pharmaceuticals for $1.3 billion to increase its presence in hospitals and add specialty pharmaceuticals to its portfolio.

Mallinckrodt was spun off from medical-devices firm Covidien PLC in July, becoming a standalone company. It makes specialty pharmaceutical products, including drugs for depression, inflammatory diseases, cerebral or spinal spasticity and pain management. It also manufactures imaging agents, active pharmaceutical ingredients and generic drugs.

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Asia-Pacific Aircraft Orders To Rise By 2032

Asia-Pacific Aircraft Orders To Rise By 2032

BUSINESS

  • Asia-Pacific airline fleets to total 14,750 aircraft by 2032
  • Asia-Pacific to account for 36% of world deliveries of both passenger and freight planes
  • Single-aisle jets flown mostly by discount airlines to represent 69% of new aircraft by 2032

Airlines in Asia Pacific are expected to see substantial growth by 2032, with total fleet expansion to total 14,750 aircraft, according to Boeing.

In 2012, the region's total fleet consisted of 5,090 planes; the 12,820 additional aircraft are expected to be worth $1.9 trillion. Increased wealth from an emerging middle class in the region has lead to anticipated growth.

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Coca-Cola Invests In Green Mountain Coffee

Coca-Cola Invests In Green Mountain Coffee

BUSINESS

  • Coca-Cola to invest $1.25 billion in Green Mountain Coffee to create and sell pod-based, single-serve Coca-Cola products via new Keurig Cold drink machine
  • Green Mountain to incorporate more than just Coca-Cola brand drinks in Keurig Cold, as per customer request
  • Deal combines Keurig’s technology and beverage packing expertise with Coca-Cola’s marketing and branding strengths

Soft drink giant Coca-Cola Co. and Green Mountain Coffee Roasters will join forces to create Keurig Cold, a new in-home cold drink machine. The system is expected to be launched sometime toward the end of 2014 or the beginning of 2015.

Keurig Cold will be comparable to Green Mountain’s hot Keurig system in giving out cold drinks, including juices, cold teas, enriched waters, sports drinks and carbonated drinks via single-serve pods.

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Sony Restructuring, Cutting 5,000 Jobs After $1 Billion Loss

Sony Restructuring, Cutting 5,000 Jobs After $1 Billion Loss

BUSINESS

  • Sony to sell PC business and make TV unit a subsidiary after a tough fiscal year
  • Sony to cut 5,000 jobs to save $1 billion in annual costs
  • Sony to now focus on mobile business

Japanese electronics giant Sony Corp. has decided to restructure after a rough fiscal year, ending March 31, when it predicts a net loss of $1.08 billion. This comes three months after the company predicted a $294 million profit, and marks the company’s fifth loss in six years.

Sony plans to sell its PC business, make its television business a subsidiary by the end of July and slash 5,000 jobs worldwide by the end of the fiscal year, with the cuts expected to save $1 billion in annual costs. These positions were not included in the 10,000 job cuts Sony announced last year.

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