Business News - part 40

Samsung Overtakes Nokia As Top Mobile Phone Brand

Samsung Overtakes Nokia As Top Mobile Phone Brand

BUSINESS

  • Samsung surpasses Nokia for cell phone shipments, with Apple following in third place
  • Operating systems, price affect standings
  • 654 million smartphones were shipped in 2012

For the first time since 1998, Samsung has overtaken Nokia as the top cell phone brand of the year, according to a report by IHS iSuppli.

Samsung accounted for 29% of world cell phone shipments, while Nokia registered 24%. Apple came in third, shipping 10% of cell phones.

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Media Ratings Leader Nielsen Moves Into Radio With Arbitron Acquisition

Media Ratings Leader Nielsen Moves Into Radio With Arbitron Acquisition

BUSINESS

  • Nielsen will pay $1.26 billion for Arbitron radio ratings technology company
  • Radio reaches 92% of US adults and teens
  • Nielsen, Arbitron deal pending regulatory approval 

US television ratings leader Nielsen Holdings is buying radio ratings technology company Arbitron for $1.26 billion to improve monitoring of unmeasured areas of media consumption, such as out-of-home and streaming audio.

The deal will allow Nielson to offer advertisers better insight into consumer behavior across television, radio and web media so they can maximize marketing investments.

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Smartphone Update: China Sees Record Sales For Apple iPhone 5

Smartphone Update: China Sees Record Sales For Apple iPhone 5

BUSINESS

  • Apple sells over 2 million iPhone 5s in China during launch
  • Apple market share in China rumored to have slipped 50%
  • 3.3 million iPhones shipped to China in 3rd quarter

Apple Inc. set a sales record in China with the debut of the iPhone5, selling over 2 million smartphones in the first three days.

Apple chief executive Tim Cook says: “China is a very important market for us and customers there cannot wait to get their hands on Apple products.” Prior to the iPhone 5 launch, investors feared the iPhone was doing poorly in China.

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Report: Military Aviation MRO Industry To Reach $39.4 billion by 2022

Report: Military Aviation MRO Industry To Reach $39.4 billion by 2022

BUSINESS

  • MRO industry to increase at a rate of 3.49% over next 10 years
  • North America to account for 48% of global MRO investment
  • MRO industry needs more skilled workers

The value of the global military aviation maintenance, repair and overhaul (MRO) industry is forecast to jump from $28 billion to $39.4 billion over the next ten years, marking an average increase of 3.49% per year.

According to research from global defense industry intelligence provider Strategic Defence Intelligence, today’s economic climate is prompting key spenders like the US, the UK, France and Germany to reduce their defense budgets, and to maintain, repair and upgrade their existing fleet instead of buying new equipment.

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Business Search Engine ReportLinker.com Ranks 375 On Deloitte Technology Fast 500 EMEA 2012

Business Search Engine ReportLinker.com Ranks 375 On Deloitte Technology Fast 500 EMEA 2012

BUSINESS

  • ReportLinker ranks number 375 on the Deloitte Technology Fast 500 EMEA 2012
  • ReportLinker.com records five-year revenue growth rate of 392%
  • ReportLinker.com previously ranked 478 on the Deloitte Technology Fast 500 EMEA 2010 and 445 on the Deloitte Technology Fast 500 EMEA 2011

Leading business search engine ReportLinker.com now ranks number 375 on the Deloitte Technology Fast 500 EMEA 2012, a list of the 500 fastest-growing technology companies in Europe, the Middle East and Africa.

“We are honored to be recognized as a technology leader on the Deloitte Technology Fast 500 list for the third year in a row, recording a 392% five-year revenue growth rate. Going forward, we will continue to invest in and evolve our technology to best deliver trusted data from both public and private sources to our customers,” says CEO Benjamin Carpano.

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Nissan Making Electric Car Batteries in US, To Launch New All-Electric Vehicle Models

Nissan Making Electric Car Batteries in US, To Launch New All-Electric Vehicle Models

BUSINESS

  • Nissan producing lithium-ion batteries for all-electric cars in Tennessee
  • Nissan to have 85% of all Nissan and Infiniti products sold in the US be produced in North America by 2015
  • LEAF most successful all electric-vehicle model; new hybrids and electric vehicles planned for future

With a focus on green automotive making, Japan’s second-largest automobile manufacturer Nissan Motor Co has recently celebrated the two-year sales anniversary of its pure-electric vehicle model called LEAF, and is now manufacturing lithium-ion batteries used for all-electric cars.

Located in Smyrna, Tennessee, the new battery plant will produce up to 200,000 batteries annually, depending on demand, and is only one of three of its kind globally to be operated by a major automobile manufacturer.

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Satellite TV Provider Dish Network To Enter US Wireless Market

Satellite TV Provider Dish Network To Enter US Wireless Market

BUSINESS

  • Dish to compete with US wireless leaders Verizon Wireless, AT&T and Sprint Nextel
  • FCC imposes restrictions on Dish airwaves within the H block
  • Sprint and Dish considering partnership

Satellite TV provider Dish Network Corp.’s proposal to provide smartphone services has been approved by the US Federal Communications Commission (FCC), taking an integral step toward encouraging wireless competition in the US telecommunications market.

The new network will help eliminate the time lag in relaying signals between satellites associated with traditional wireless service.

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Delta Air Lines Purchases Stake In Virgin Atlantic To Expand NY-London Air Route

Delta Air Lines Purchases Stake In Virgin Atlantic To Expand NY-London Air Route

BUSINESS

  • Delta Air Lines buys 49% stake in Virgin Atlantic for $360 million
  • Joint venture gives both airlines a 25% share of cross-Atlantic traffic
  • Deal should be operational before 2014

Delta Air Lines, the second-largest airline in the US by revenue, has agreed to purchase a 49% stake in British airline Virgin Atlantic for $360 million, so that both airlines can better compete for passengers on the busy New York-London route.

Under the agreement, Delta and Virgin Atlantic will expand their network at London’s Heathrow airport as well as share costs and revenue generated from flights between North America and Britain.

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Banking Industry Leader HSBC To Pay $1.92 Billion Fine In US Settlement

Banking Industry Leader HSBC To Pay $1.92 Billion Fine In US Settlement

BUSINESS

  • HSBC investigated for money laundering by US Justice Department
  • HSBC must reach specific goals to respect settlement deal 
  • Latest charges mark third time HSBC has been penalized in US

Europe’s largest bank HSBC Holdings Plc will pay a record fine of $1.92 billion to settle a probe by the US Justice Department linked to money laundering and violating sanctions laws.

HSBC is accused of handling transactions through the US to non-US banks from nations such as Mexico, Cuba, Burma, Sudan, North Korea and Iran. Bank records were also reportedly altered.

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Citigroup Cuts 11, 000 Jobs To Streamline Operations

Citigroup Cuts 11, 000 Jobs To Streamline Operations

BUSINESS

  • Citigroup to cut 4% of its global workforce
  • Cuts should save $900 million next year and up to $1.1 billion in 2014, beyond
  • Other major world banks have already laid off staff or are facing layoffs

Citigroup, the third-largest bank in the US based on assets, will cut 11,000 jobs – or roughly 4% of its current workforce – to streamline operations.

Some 6,200 job cuts will be in the consumer banking unit, and the rest of the cuts will come from the selling or downsizing of branches in Uruguay, Turkey, Romania, Paraguay and Pakistan.

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