Top Headlines - part 64
BUSINESS October 5, 2012 | 5:20 PM
- More than 1 million vehicles sold in the US in September
- All automakers saw sales increases in the US except for Nissan
- Consumers taking advantage of record-low interest rates
Automobile sales in the Unites States reached their highest rate this September since March 2008 as consumers took advantage of record low-interest rates to replace their aging vehicles.
Sales this past month were 12.8% higher than in September 2011. In total, slightly more than 1 million vehicles were sold, putting the industry on track to reach a target of nearly 15 million vehicles unit sales in 2012.Read more »
BUSINESS October 4, 2012 | 5:17 PM
- Deutsche Telekom aims to reel in Sprint, Verizon, AT&T with merger
- Deutsche Telekomto retain 74% stake in new company
- T-Mobile USA lost 2.7 million subscribers in past two years
Deutsche Telekom is to merge its T-Mobile USA division with MetroPCS Communications, creating a new major player in the United States to challenge the big-three wireless operators.
The new entity, which will retain the T-Mobile name, will count 42.5 million customers with $24.8 billion in revenue, and Deutsche Telekom will hold a 74% stake.Read more »
BUSINESS October 3, 2012 | 5:25 PM
- Macy’s sees a 2.6% increase in seasonal employee hiring since last year
- Macy’s outperforming key competitors JC Penney and Kohl’s
- Toys R US, Walmart and Kohl’s also hiring more seasonal staff
Major American retailer Macy’s Inc, which runs both Macy’s and Bloomingdale’s department stores, plans to hire 80,000 seasonal employees this year, or a 2.6% increase from 2011 when 78,000 people were hired.
The retailer plans to offer positions at distribution, fulfillment and call centers as well as for in-store operations and sales. Hiring has already begun, but the sales associate positions are yet to be filled. The majority of the seasonal positions are part time.Read more »
BUSINESS October 2, 2012 | 4:36 PM
- Kodak to stop inkjet printer production to focus on commercial printing business
- Kodak in period of restructuring, hoping to recoup $600 million loss prior to bankruptcy
- 23% reduction in Kodak staff expected to save $340 million a year
Photography leader Eastman Kodak Co., or Kodak, has decided to stop selling consumer inkjet printers and focus instead on providing printing, packaging and related services to businesses.
Having filed for bankruptcy protection last January, Kodak is also seeking to prolong its exclusivity period for submitting a bankruptcy protection exit plan to February 28; this request will be reviewed in October.Read more »
BUSINESS October 1, 2012 | 4:18 PM
- Purchase part of Sony’s plan to expand medical-equipment business
- Olympus controls 70% of world endoscope market
- Sony, Olympus to launch new company that develops, manufactures and sells medical equipment
Sony Corp., Japan’s largest electronics exporter, plans to invest $645 million for an 11.5% stake in Olympus Corp., the world’s largest endoscope maker, in a deal that will mutually benefit both companies.
Sony has had four straight years of financial losses, while Olympus is recovering from an accounting scandal after a former chairman pled guilty to covering up $1.7 billion in losses.Read more »
BUSINESS September 28, 2012 | 5:14 PM
- Toyota to release only around 100 fully electric eQ cars in Japan and US
- Company to concentrate on gas-hybrid technology
- Global sales predictions of 1 million Toyota hybrids annually between 2013 and 2015
Toyota has abandoned an aggressive sales strategy for its new fully electric compact car, citing slowly developing battery technology and a misinterpretation of the market.
The Japanese automaker says it will only sell around 100 of its eQ battery-run cars domestically and in the United States in a limited release. In 2010, at the eQ’s unveiling, the company said it planned to sell thousands of the vehicles per year.Read more »
BUSINESS September 27, 2012 | 10:52 AM
- Nissan, Toyota and Honda all see sales drops in China, South Korea
- Some 30% of Nissan’s sales are in China; Toyota sees 17% and Honda is at 15%.
- Japan set to lose market share in China to Germany
Japanese automakers are having a tough time in China, the world’s largest vehicle market, after anti-Japanese protests drive consumers to the competition.
In mid-September, protestors across China set fire to showrooms and damaged vehicles to show their discontent regarding a territorial dispute over islands in the East China Sea, which are controlled by Japan, but both China and Taiwan claim them.Read more »
BUSINESS September 26, 2012 | 2:11 PM
- Fiat hopes to improve factory efficiency to remain in Italy
- Fiat factories currently at less than 50% capacity
- Auto industry in Italy sees lowest sales in 40 years
Italy’s largest private employer automotive maker Fiat has no plans to close factories in Italy despite CEO Sergio Marchionne’s predictions for a very bad car market in 2013.
Marchionne met with senior Fiat executives and members of the Italian government to discuss ways to improve Fiat’s manufacturing efficiency so it could keep investing in Italy and benefit from the aid of state subsidies.Read more »
BUSINESS September 25, 2012 | 5:29 PM
- HTC launches two Windows-based smartphones
- HTC and Microsoft to collaborate to improve standing in smartphone industry
- Apple to be among HTC’s strongest competitors with new iPhone5
Taiwan’s leading phone manufacturer HTC Corp has launched two smartphones – the Windows Phone 8S and the Windows Phone 8X – based on Windows Phone 8 software from Microsoft Corp.
Come November, the phones will be available globally via several wireless service providers – with top US mobile operators Verizon Wireless, AT&T and T-Mobile USA set to sell the 8X, and over 150 operators in 50 countries planning to sell both phones.Read more »
BUSINESS September 24, 2012 | 2:48 PM
- Starbucks’s Verismo to compete in single-serve coffee machine market
- Green Mountain Keurig machine sales to face competition from new Verismo
- Some $8 billion in single-serve machines and cups were sold worldwide in 2011
Leading coffee chain Starbucks is entering the single-serve coffee market with the introduction of its new home-brewing, single-cup coffee machine called Verismo.
The Verismo machine will be sold online and in Starbucks cafes in September, with external retail locations added later this year.Read more »