BUSINESS November 8, 2013 | 2:43 PM
Consumer electronics giant Apple will build a manufacturing plant in Arizona in conjunction with technology company GT Advanced Technologies, which will produce sapphire material to be used in some Apple products.
Apple did not specify which components would be manufactured at the plant, but did indicate the new site helps furthers Apple’s domestic efforts by generating as many as 700 local manufacturing jobs and up to 1,300 construction jobs.Read more »
BUSINESS November 7, 2013 | 4:03 PM
Consumer confidence in the United States fell sharply in October to 71.2, down from 80.2 in September, according to a report by research group The Conference Board.
The decline is linked to the 16-day US government shutdown.Read more »
BUSINESS November 6, 2013 | 12:21 PM
Apple shipped 33.8 million smartphones in the third quarter of 2013, up from 26.9 million over the same period last year, but market share has still dropped 2.2% to 13.4%.
This marks Apple’s third-consecutive quarterly decline, and the latest quarter is considered a slow one for Apple. Near the end of the quarter, Apple saw a boost in shipments from the release of the new iPhone 5S and the iPhone 5C.Read more »
BUSINESS November 5, 2013 | 5:00 PM
Google has introduced a technology called Auto Awesome Movie that produces movies by using collections of photos and video clips uploaded onto its social network Google+.
This move is seen as a bid to better compete with main rival Facebook, and aims to attract both more users and more advertising revenue.Read more »
BUSINESS November 4, 2013 | 5:26 PM
Third-quarter revenue increased 24% to $17.1 billion, beating analyst estimates of $16.8 billion. Meanwhile, the company’s gross profit margin was 27.6%, and sales by third parties made up 40% of sales.
Net losses were $41 million as fulfillment expenses grew 35% to $2.03 billion, and technology and content expenses grew 45% to $1.73 billion. This is the third consecutive quarter the company has posted a net loss.Read more »
BUSINESS October 29, 2013 | 1:26 PM
Boston Scientific, one of the world’s largest medical device manufacturers, plans to cut 1,100 to 1,500 jobs globally until 2015 to help trim between $150 million and $200 million in operating expenses and increase operating income margins from up to 25%.
The company further cites the purpose of this move, its third restructuring since 2011, as addressing financial pressure and streamlining production.Read more »
BUSINESS October 28, 2013 | 5:23 PM
Samsung Electronics, Asia’s largest technology company and the world's largest smartphone manufacturer, reported a 26% increase in third-quarter profit from 2012, boosted by smartphone and semiconductor sales. Net profit was $7.6 billion.
This marks the sixth quarter out of the past seven that Samsung has posted record operating profit.Read more »
BUSINESS October 25, 2013 | 12:31 PM
US-based TV and video internet streaming service Netflix has announced impressive third quarter 2013 earnings, with global subscribers now totaling 40 million.
In the US, Netflix added 1.3 million subscribers, bringing it to over 30 million domestic paid subscribers. These numbers have now put Netflix ahead of rival HBO, whose last subscriber count was just under 29 million.Read more »
BUSINESS October 24, 2013 | 5:25 PM
The world’s third-largest brewer Heineken NV revised its outlook for 2013’s full-year profit after a weaker than expected third quarter in both emerging and mature markets. This is the second time Heineken revised its outlook; in April, it lowered expectations for sales growth.
In the third quarter, consolidated organic beer volume fell 3%, and earnings were down 15% with net profit dropping to $665 million. Revenue grew 0.2% excluding acquisitions.Read more »
BUSINESS October 23, 2013 | 11:46 AM
The British government has approved the construction of the first new nuclear power plant in 20 years as part of a domestic-power strategy.
To be built by a foreign consortium at Hinkley Point C in southwestern England, the plant is expected to provide 7% of Britain’s electricity demand for 60 years, which is enough to power 6 million homes.Read more »
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