BUSINESS January 16, 2012 | 5:48 PM
Delta Air Lines wants to sell its passengers more than transportation tickets: it will begin serious marketing to customers to offer them various alternative services.
Critics of that plan wonder whether the American air carrier will provoke the type of protest its European counterpart Ryanair encountered when it floated the idea of paying to use the bathroom.Read more »
BUSINESS January 16, 2012 | 2:10 PM
Amid the era of greener, more environmentally conscious automobiles, Toyota recently rolled out its latest hybrid vehicle, called the Prius c. The Japanese automaker's new vehicle is smaller and more affordable than its predecessor, and targets city-dwelling, first-time buyers.
Toyota debuted its latest Prius addition at the recent Detroit Auto Show, following introduction on the Japanese market in Tokyo last year. The "c", which stands for city, is being hailed for its small size and record-setting fuel economy for a conventional hybrid in city driving.Read more »
BUSINESS January 13, 2012 | 3:32 PM
Nokia and Microsoft unveiled their new Lumia Windows Phone handset this week at the Consumer Electronics Show in Las Vegas, as the pair step up their smartphone campaign to haul in Android and Apple.
The new Lumia 900 4G LTE will be among the first Windows-powered handsets to feature the next-generation long-term evolution, or LTE, technology, Nokia chief executive Stephen Elop and Microsoft boss Steven Ballmer said at the event.Read more »
BUSINESS January 12, 2012 | 5:00 PM
The world’s largest aluminum company US-based Alcoa Inc plans to close three European smelters. The closures affect two smelters in Spain and one in Italy, and are part of the company’s strategy to restructure its global primary products unit.
Alcoa plans to close the Portovesme in Italy facility permanently, while the La Coruna and Aviles in Spain facilities would be closed partially and temporarily. The closures affects 1,500 employees. The company told reporters in a written statement that the total number of employees who would lose their jobs would not be determined until consultations are completed.Read more »
BUSINESS January 11, 2012 | 4:26 PM
For those who have been nearly everywhere, there is a new tourist destination to visit. While it might seem light years ahead, travelers can reportedly head into space starting this year.
Virgin Galactic will take interested travelers into space for $200,000, according to various media reports. No concerns about booking a ticket, either, since the process is similar to buying a travel voucher right here on earth, according to The New York Times.Read more »
BUSINESS January 10, 2012 | 5:44 PM
Ford will change direction for its hybrid-electric vehicle program, unveiling completely overhauled versions of its Fusion sedan at the Detroit auto show.
The new Ford Fusion will come in a petrol-electric hybrid and a petrol-only model, as well as the new Fusion Energi model – Ford’s first venture into the plug-in hybrid vehicle market.Read more »
BUSINESS January 9, 2012 | 5:36 PM
Seattle-based Starbucks Corp plans to raise prices by 1% in the Northeast and the Sunbelt states. This is the first across-the-board price increase since 2007.
In November, Starbucks raised its prices in cafes located in the Midwest, Hawaii and the Pacific Northwest as well as California and Florida. And while Starbucks has yet to release a list of all the locations affected by the increase, the regions targeted include major metropolitan areas such as New York City, Boston, Washington D.C., Dallas and Atlanta.Read more »
BUSINESS January 6, 2012 | 12:14 PM
2011 was a good year for US carmakers, with sales rising by almost 13 million units, representing 10% growth compared with 2010. Sales are expected to continue climbing in 2012, possibly nearer to 14 million vehicles.
Ford’s F-Series pickup was the most-sold vehicle for the 30th year in a row, followed by Chevrolet’s Silverado pickup. In the category of cars, Toyota’s Camry sedan and Nissan’s Altima sedan were popular choices, followed by the Ford Escape small SUV, the Toyota Corolla compact and the Ford Fusion mid-size sedan.Read more »
BUSINESS January 5, 2012 | 2:47 PM
Athabasca Oil Sands Corp. is selling off its remaining 40% stake in Canada’s MacKay River oil sands project to PetroChina, Asia's largest oil company, for the sum of nearly $680 million.
This announcement comes just two years after Athabasca sold 60% of its MacKay River shares to the same China-based oil company. The deal makes PetroChina the first Chinese company to wholly own a Canadian oil sands development.Read more »
BUSINESS January 4, 2012 | 2:47 PM
With Southwest's lucrative hedges now expired, the US's largest low-cost airline has to come up with a new strategy to drive profit.
In the past, Southwest Airlines was the envy of the industry with its long string of repeated profitable quarterly reports thanks to fuel hedging. Southwest had locked-in buying options that guaranteed it low costs for fuel at a time when gas prices were dramatically rising.Read more »
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