BUSINESS February 7, 2014 | 5:58 PM
Car manufacturer Toyota Motor Corporation anticipates operating profit will be valued at 1.9 trillion Japanese yen ($18.8 billion) for the fiscal year ending in March.
The yen’s ongoing weakness also boosted Toyota’s third quarter earnings to a higher-than-anticipated 600 billion yen operating profit, almost five times greater than third quarter earnings a year prior.Read more »
BUSINESS February 7, 2014 | 5:50 PM
London-based Diageo, the largest distilled spirits business worldwide reported lower net sales gains in the most recent period. The drop was triggered by decreasing demand in emerging markets, including Nigeria, China, Thailand, Argentina and Venezuela, which account for roughly 42% of Diageo’s sales.
In the first half of the fiscal year, the company renowned for Smirnoff vodka, Johnnie Walker whisky and Guinness beer recorded a 1.8% sales increase, falling short of the 3.5% increase estimated by analysts.Read more »
BUSINESS February 6, 2014 | 11:53 AM
Anheuser-Busch InBev, the largest brewer in the United States, has agreed to buy Blue Point Brewing Company, a top-50 US craft brewery, for an undisclosed amount, although the deal could be worth as much as $24 million, according to Brewhound.
The acquisition will help InBev capitalize on the popularity of craft beer. Known for independent spirit and creativity, Blue Point was founded in 1998 in Patchogue, NY. It is the 34th-largest craft brewery and will continue to operate in Patchogue.Read more »
BUSINESS February 4, 2014 | 12:10 PM
Chinese computer manufacturer Lenovo Group Ltd., the world's largest PC maker, has agreed to purchase Google’s Motorola Mobility handset unit for $2.91 billion to help it expand in North America.
Google will maintain nearly all of its 17,000 patent rights associated with the unit to maintain control of technology licensed to smartphone manufacturers using Google's Android operating system.Read more »
BUSINESS February 3, 2014 | 2:28 PM
Social network Facebook is celebrating its 10th birthday by launching a news reader app called Paper.
With the Paper app, users see longer posts, videos and photos - all based on personal preferences. Content is organized into sections similar to a real newspaper, and users can read content as well as share it.Read more »
BUSINESS January 31, 2014 | 5:30 PM
Starwood Hotels and Resorts Worldwide recently revealed that this year its W and Aloft hotels will use a mobile check-in process—a pilot project. Guests will thus download a companion Starwood app that will allow them to check-in remotely and employ their phones to enter their rooms, foregoing the use of traditional room keys or even front desk services.
While the exact start date for this technology is unknown, the hotel group reported that a minimum of two locations, in Manhattan and Cupertino, California, will have the wireless keys by late March. Starwood asserted that its 121 other W and Aloft hotels will use mobile check-in and entry by 2015.Read more »
BUSINESS January 30, 2014 | 3:09 PM
Global smartphone shipments reached 1 billion for the first time in 2013, according to a report by research group International Data Corp., marking a 38.4% increase from 2012. The firm had forecast 1.01 billion units.
Smartphones accounted for 55.1% of all mobile phones shipped last year, or a near 42% jump. During the fourth quarter, some 284.4 million units were shipped.Read more »
BUSINESS January 29, 2014 | 4:43 PM
American technology giant Google has purchased British artificial intelligence startup DeepMind for a reported $500 million, possibly the search engine’s largest European acquisition to date.
Google’s London office confirmed the deal, but has refused to verify the purchase price.Read more »
BUSINESS January 28, 2014 | 4:10 PM
China-based PC maker Lenovo will purchase International Business Machine Corp’s (IBM’s) low-end server division for $2.3 billion, marking China’s largest technology transaction to date.
The deal follows Lenovo’s acquisition of the struggling ThinkPad business in 2005 at a $1.75 billion price tag, a move that eventually boosted Lenovo to global PC leader by 2012.Read more »
BUSINESS January 27, 2014 | 5:55 PM
In 2013, Toyota Motor Corp. retained its position as the world’s largest auto seller, although the gap between it, General Motors Co. and Volkswagen Group is shrinking.
Toyota sold 9.98 million vehicles in 2013, a 2.4% increase from 2012. The company expects sales to surpass 10.3 million this year, with sales in its native Japan dropping and worldwide sales growing.Read more »
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