BUSINESS March 3, 2014 | 5:19 PM
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.Read more »
BUSINESS February 28, 2014 | 11:24 AM
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.Read more »
BUSINESS February 27, 2014 | 5:09 PM
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.Read more »
BUSINESS February 26, 2014 | 4:15 PM
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.Read more »
BUSINESS February 25, 2014 | 6:14 PM
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.Read more »
BUSINESS February 24, 2014 | 4:59 PM
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).Read more »
BUSINESS February 13, 2014 | 5:44 PM
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.Read more »
BUSINESS February 12, 2014 | 11:01 AM
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.Read more »
BUSINESS February 11, 2014 | 11:12 AM
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.Read more »
BUSINESS February 10, 2014 | 3:30 PM
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.Read more »
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