BUSINESS December 24, 2013 | 5:53 PM
Oracle, the world’s largest seller of database software, has agreed to purchase enterprise software company Responsys for about $1.5 billion to further expand into online marketing.
Responsys manufactures software that lets companies provide social advertising across the internet and coordinate their display, email and mobile efforts. Its customers include United Healthcare, Southwest Airlines and LinkedIn.Read more »
BUSINESS December 23, 2013 | 5:50 PM
Pharmaceutical giant AstraZeneca is purchasing Bristol-Myers Squibb’s half of the diabetes business the companies formed in 2007 for up to $4.3 billion.
To take control of the franchise, $2.7 billion will be paid up front with $1.4 billion paid in future payments, with an additional $225 million following the completion of asset transfers. Sales-related royalties also will be paid until 2025.Read more »
BUSINESS December 18, 2013 | 1:54 PM
Social media network Facebook has purchased sports data startup SportStream for an undisclosed amount.
SportStream’s app searches social networks and news websites for references to sports teams and sporting events.Read more »
BUSINESS December 13, 2013 | 4:23 PM
Airbus parent European Aeronautic Defense and Space (EADS) plans to cut 5,800 jobs over the next three years in response to European government military budget cuts.
The job reduction will consist of 1,300 temporary and 4,500 permanent staff, roughly 5% of EADS’ international labor force of around 133,000. Of the 4,500 permanent staff who are let go, most will come from early retirement or other voluntary measures. Also, 1,500 staff will be given the option to transfer to EADS’ Eurocopter or Airbus units.Read more »
BUSINESS December 12, 2013 | 5:43 PM
China Mobile Ltd., the world’s largest mobile carrier by subscribers, is prepared to begin taking preorders for the iPhone 5S and 5C, after signing a deal with Apple.
Pricing plans have yet to be released, but the carrier hopes it can lure customers to more popular data plans.Read more »
BUSINESS December 11, 2013 | 5:22 PM
Anglo-Dutch oil giant Royal Dutch Shell, Europe’s largest oil company by market capitalization, has cancelled a $20 billion project in the US, which would have converted gas to jet fuel, citing the expense of the project.
The uncertainty of long-term oil and gas prices and differentials also played a role in Shell’s decision.Read more »
BUSINESS December 10, 2013 | 5:02 PM
SolarCity Corp, the second-biggest solar company in the US, is offering business customers power-storage systems to give them electricity during power outages and help cut utility fees.
Lyndon Rive, SolarCity’s CEO said in an interview that offices, schools and retailers in New England and areas of California—where utility demand charges are high enough to ensure savings—will consume less peak energy from the grid, create and regulate their own electricity. He also claimed that the power-storage system would lower utility costs by roughly 20%.Read more »
BUSINESS December 9, 2013 | 3:20 PM
Chrysler Group and General Motors Co. were leaders in US automotive sales for the month of November, reporting an increase of 8.9% or the fastest rate of increase since 2007. The increase, which exceeds the year-to-date gain of 8.4%, is significant as US sales are generally lower in November.
Research firm Autodata Corp reports that in November, when adjusted for seasonal patterns, the US automotive manufacturing industry recorded an annual sales rate of 16.4 million vehicles. Light truck and car deliveries increased by 16% and 14% for Chrysler and GM, respectively, and over 10% for Nissan and Toyota.Read more »
BUSINESS December 6, 2013 | 4:26 PM
For the first time two years, Saab Automobile, owned by investment group National Electric Vehicle Sweden (NEVS), has begun production of its 9-3 model sedan at the Trollhattan factory in western Sweden.
The vehicle is gas powered, and will be similar to the 2011 version. The sedan will be sold in Sweden and China for $42,550, starting Dec. 10 on NEVS’s website.Read more »
BUSINESS December 5, 2013 | 5:34 PM
Tesco, the UK's largest grocery chain, saw third-quarter sales fall in the UK and worldwide, a trend the company blames on a weak economy.
In its home market (which generates 70% of profit), Tesco saw like-for-like sales – excluding new stores and gasoline – fall 1.5%. Last year, sales for the same period fell only 0.7%.Read more »
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