Top Headlines - part 61
BUSINESS March 27, 2012 | 12:45 PM
- Construction set to begin at new Sanand plant in Gujarat
- New manufacturing facility to produce 240,000 cars, 270,000 engines
- Ford to release eight new vehicles in India by 2015
Ford has set in motion its new $1 billion manufacturing plant in Gujarat, India, despite the country’s uncertain economic forecast.
At a ceremony at the Sanand plant in western India, Ford India laid the cornerstone at the shop, which will grow into a state-of-the-art facility. Around 240,000 new cars and 270,000 engines will be manufactured per year for both domestic and export markets.Read more »
BUSINESS March 26, 2012 | 12:26 PM
- Starbucks announces new Refreshers line of energy drinks
- Refreshers drinks contain unroasted coffee extract, with less caffeine then traditional energy drinks
- Starbucks to create 150 new US jobs
Starbucks plans to break into the rapidly expanding energy drinks market with its new fruit juice and coffee extract beverage, called Starbucks Refreshers.
The plans were outlined at the coffee giant’s annual shareholder gathering in Seattle, with chief executive Howard Schultz announcing the creation of additional manufacturing jobs in the United States.Read more »
ECONOMY March 26, 2012 | 11:10 AM
- Europe's PMI falls to 48.7, further contraction will indicate recession
- Output drops in manufacturing and service industries
- ECB urges governments to make fiscal changes
Production in Europe's manufacturing and service industries fell in March, suggesting that the eurozone may be sliding back into a recession.
According to private firm Markit Economics, the purchasing managers index, or PMI, for both industries combined fell to a three-year low of 48.7 from 49.3 in February.Read more »
BUSINESS March 23, 2012 | 11:08 AM
- Source reports HP will combine divisions to save money
- New focus will be on investing savings and reinventing
- HP suffering from decline in revenue, sales
Top computer maker Hewlett-Packard Co. will combine its personal computer and printing divisions in an effort to save money and make it easier for customers to buy products, according to Reuters.
These units were previously combined but were separated in 2005. For the fiscal year 2011, both divisions had a total of $65.35 billion in revenue.Read more »
BUSINESS March 23, 2012 | 10:16 AM
- Airplanes packed, fares constantly going up
- Fuel prices contribute to more than one-third of total operating airline budgets
- US Airline growth should double in next two decades but prices to go up
The number of US airline passengers should double in the next two decades, says a government forecast.
However, airplanes are packed and fares are going up, with carriers cutting less-profitable routes.Read more »
BUSINESS March 22, 2012 | 11:10 AM
- Shell signs first-ever production sharing deal in China’s shale gas industry
- China targets 6.5 billion cubic meters of shale gas production by 2015
- Chinese shale gas reserves total around 36 trillion cubic meters – 50% more than US
Royal Dutch Shell has agreed to a production sharing contract with state-run China National Petroleum Corporation (CNPC) to explore and produce shale gas in the southwest of China.
The project will concentrate on the 3,500 square kilometer Fushun-Yongchuan shale gas block in Sichuan province. The deal is the first venture to be signed with a foreign company in China’s shale gas industry and is subject to approval by Chinese authorities.Read more »
BUSINESS March 21, 2012 | 12:01 PM
- Elite Starwood members get perks & anytime check-ins under new Your24 program
- Starwood says new policies meet changing customer needs and demands
- No major hotel chain has yet matched Starwood's offer
Hotel brand Starwood has launched a new benefit for elite members, called “Your24,” which lets members take advantage of 24-hour check-ins.
Your24 is one of several new elite benefits that make the award-winning Starwood Preferred Guest the “richest elite program in the industry,” according to the hotel chain.Read more »
BUSINESS March 20, 2012 | 3:47 PM
- UPS buys TNT Express for $6.77 billion
- New combined company should save $582 million in operations & transportation
- Carriers combined can compete in Asia-Pacific
The world’s largest delivery company has just gotten larger: Atlanta, GA, based United Parcel Service Inc. will purchase Europe’s second-biggest express mail company TNT Express NV for $6.77 billion. This is the largest acquisition in UPS history.
The combined company will have 475,000 employees worldwide, and is predicted to be worth $79 billion in annual sales. It will also be on-par with German-owned DHL, Europe’s largest carrier, which has nearly an 18% market share.Read more »
BUSINESS March 19, 2012 | 3:18 PM
- PayPal Here lets small business owners process credit card transactions through iPhones
- PayPal Here currently available in North America, Australia and Hong Kong
- PayPal anticipates new system will help win market share over competitors Square, Intuit and VeriPhone
Online payment giant PayPal has announced its new, much-anticipated mobile payment system, called PayPal Here, which lets small businesses process credit card transactions using an iPhone.
The company, a division of eBay, is also currently working on an app that will be compatible with the iOS and Android devices as well.Read more »
FINANCE March 16, 2012 | 4:59 PM
- Rivals to combine for $1 billion in stock
- Ends lengthy court battle over copyright infringement
- New company to hold one-third share of crowded Chinese market
Youku Inc. and Tudou Holdings Ltd., China’s two largest online video companies will merge in a $1 billion all stock deal.
The new company, to be called Youku Tudou Inc., will hold a one-third market share in the crowded Chinese video market. It will be headed by Youku chairman and CEO Victor Koo.Read more »