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Top Headlines - part 61

Oil & Gas Update: Shell Delays Alaskan Oil Drilling After Equipment Failure

Oil & Gas Update: Shell Delays Alaskan Oil Drilling After Equipment Failure

BUSINESS

  • Shell containment dome used to stop oil spills damaged; stops drilling projects for rest of 2012
  • Shell planned to invest $1 billion in arctic drilling this year
  • Arctic region contains oil worth $10 billion

Leading world oil company Royal Dutch Shell Plc was forced to stop Alaskan arctic drilling one day after it started when a containment dome, used as a cap in the event of an oil spill, was damaged.

The timeframe needed for repairs means Shell will not deep drill this year. In a company statement, Shell said: “To lay a strong foundation for operations in 2013, we will forgo drilling into hydrocarbon zones this year."

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Bayer HealthCare To Buy Teva Pharmaceutical’s US Animal Health Operations

Bayer HealthCare To Buy Teva Pharmaceutical’s US Animal Health Operations

BUSINESS

  • Bayer HealthCare to acquire Teva’s US Animal Health business in 2013
  • Acquisition to expand Bayer’s companion animal and livestock animal product lines in US
  • Teva deal Bayer’s most recent small-to-mid-sized company purchase

Germany-based global healthcare leader Bayer HealthCare, a sub-group of Bayer AG, has signed an agreement with drug company Teva Pharmaceutical Industries to acquire Teva’s US animal health operations for a maximum of $145 million.

The transaction, involving 300 employees and a manufacturing site in Missouri, should be official in 2013 provided regulatory clearance and other conditions are met.

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Apple’s iPhone 5 Sets New Record With 2 Million First-Day Orders

Apple’s iPhone 5 Sets New Record With 2 Million First-Day Orders

BUSINESS

  • iPhone 5 orders top 2 million units on first day of release
  • High demand to delay some preorders but most to arrive on time
  • Handset to hit stores in US and Europe on Sept. 21

Orders for Apple's new iPhone 5 reached 2 million within the first 24 hours of its release, more than doubling the previous first-day sales record set by the handset's predecessor, the iPhone 4S.

The huge demand has surpassed initial supply quantities, and will delay the delivery for many preorders until October; however Apple said the bulk of eager new iPhone 5 customers would have their handsets by the end of the week.

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Japan Targets Zero Nuclear Power By 2030s

Japan Targets Zero Nuclear Power By 2030s

WORLD

  • Ministers finalizing policy to phase out nuclear energy in Japan say media reports
  • Government previously favored increase of nuclear to 50% of electricity supply
  • Total nuclear shutdown would make Japan one of world’s top fossil fuel importers

Japan is planning to shut down all nuclear power plants by the 2030s, according to Japanese media.

The reports, carried by the public broadcaster NHK and the Kyodo News agency, said government ministers were meeting to finalize a new policy on transforming Japan into a nuclear-free nation.

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Apple To Sell 33 Million iPhone 5 Devices This Quarter

Apple To Sell 33 Million iPhone 5 Devices This Quarter

BUSINESS

  • Sales of new iPhone 5 could double those of iPhone 4S
  • New model may help increase Apple’s market share
  • Expected success of iPhone 5 puts pressure on competitors

Apple Inc., the world’s most valuable company, is not yet shipping its iPhone 5, but analysts predict up to 33 million iPhones could be sold by the end of the quarter.

The iPhone 5 will be available in the US, Great Britain, Canada, France, Australia, Germany, Japan, Singapore and Hong Kong on Sept. 21, with preorders already underway. By 2013, the new iPhone will be available in 100 countries.

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EE To Launch UK’s First 4G Mobile Services

EE To Launch UK’s First 4G Mobile Services

BUSINESS

  • 4G mobile services to be operational in 16 cities before end of 2012
  • Everything Everywhere to change name to EE
  • UK rivals unhappy with regulator’s “early” approval of EE 4G plans

The United Kingdom’s largest mobile operator, Everything Everywhere, has announced it will launch the nation’s first fourth generation mobile service by the end of the year under the new name EE.

Everything Everywhere, a joint venture between Deutsche Telekom’s T-Mobile and France Telecom’s Orange, says around 20 million mobile phone users in Britain will have access to 4G connections before Christmas.

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Philips Cuts 2,200 More Jobs To Cut Costs

Philips Cuts 2,200 More Jobs To Cut Costs

BUSINESS

  • Philips cutting 2,200 jobs by 2014 in addition to 4,500 positions already planned to be eliminated
  • Cuts affect healthcare and lighting divisions
  • Philips will spend $270 million on restructuring by end 2012

Philips Electronics, the world’s largest lighting company, plans to cut an additional 2,200 jobs by 2014 in an effort to save money in a worsening economy. These cuts are in addition to the 4,500 positions Phillips had already planned to eliminate.

The majority of the cuts will come this year.

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General Motors To Improve Efficiency With 10,000 New IT Employees

General Motors To Improve Efficiency With 10,000 New IT Employees

BUSINESS

Leading American automaker General Motors Co. plans to add up to 10,000 information technology positions worldwide over the next five years in an effort to eliminate the company’s reliance on outside IT organizations.

The new jobs will focus on making the company more efficient, which, the company hopes, will lead to reduced costs. GM also plans to develop software, with the goal of boosting revenue and market share.

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Qantas Airways Teams Up With Emirates To Expand European Reach

Qantas Airways Teams Up With Emirates To Expand European Reach

BUSINESS

  • Qantas Airways to partner with Emirates starting April 2013
  • Emirates deal to help Qantas cut profit loss and expand European services
  • New partnership latest addition to Qantas plan to overhaul international network

Qantas Airways of Australia has announced a partnership with Emirates of Dubai on its European routes; the Sydney-based carrier is ending a nearly 20-year partnership with British Airways in view of curbing its profit loss on international operations.

The new 10-year agreement will enable Qantas to provide its customers flights to over 70 destinations in Europe, Africa and the Middle East as its European hub moves from Singapore to Dubai. Qantas anticipates that collaborating with Emirates, the world’s largest international carrier, will facilitate its recovery from the $459 million it lost in long-haul operations for the financial year that ended in June.

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McDonald’s Launches Vegetarian Restaurants In India To Capture More Market Share

McDonald’s Launches Vegetarian Restaurants In India To Capture More Market Share

BUSINESS

  • McDonald’s catering to local tastes in India with vegetarian-menu-only restaurants
  • Majority of India’s population does not eat beef or pork due to religious reasons
  • Half of McDonald’s menu in India already vegetarian

McDonald’s Corp., one of the world's largest fast-food chains, has plans to open its first vegetarian-menu-only locations in India in an attempt to capture more of the Indian market.

McDonald’s tailors its menus worldwide to suit local tastes. In India, its menu offers no pork or beef, with only chicken and vegetarian options.

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