Top Headlines - part 64

SAP to Boost Cloud Clout With $4.3 Billion Ariba Acquisition

SAP to Boost Cloud Clout With $4.3 Billion Ariba Acquisition

BUSINESS

  • SAP to pay $45 per share for Ariba – 20% higher than closing price
  • Bidding war predicted with main rival Oracle
  • Oracle responds with smaller acquisition

SAP AG, the world’s top business applications software company, is pushing further into cloud computing, with plans to secure a $4.3 billion acquisition deal for online commerce network group Ariba Inc.

The German company will pay $45 per share, a 20% increase on Ariba’s closing price on the previous day. The buyout is expected to be completed by the end of August.

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Facebook Fail: Automaker GM Axes Advertising Campaign Worth $10 Million

Facebook Fail: Automaker GM Axes Advertising Campaign Worth $10 Million

BUSINESS

  • Analysts say internet marketing still in its infancy for automakers
  • GM to review marketing strategies to save $2 billion over next 5 years
  • GM’s $10 million campaign contributed to $3.7 billion Facebook made from advertising in 2011

America’s largest automaker General Motors Co. has pulled its $10 million Facebook advertising campaign due to poor results as the ads failed to attract customers.

"We are reassessing our advertising, but we remain committed to an aggressive content strategy through all of our products and brands, as it continues to be a very effective tool for engaging with our customers," GM said in a statement to The Register.

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Google’s Project Glass Breaks Ground in the Patent Arena

Google’s Project Glass Breaks Ground in the Patent Arena

BUSINESS

  • Google secures 3 patents for its augmented reality peripherals project “Project Glass”; seeks 6 more
  • Oakley owns much of technology behind augmented reality glasses
  • No date set for final release 

Google has been awarded 3 design patents for its futuristic “Project Glass” browser glasses, which is the internet giant’s first foray into wearable computing.

No longer a unique feature of a sci-fi movie, it appears Google's X Lab has been working for some time on creating Project Glass, wrap-around style eyewear that uses augmented reality to push information from the internet via the Android OS onto the lenses of the glasses.

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Delta Air Lines Fights High Gas Prices By Buying Refinery For $150 Million

Delta Air Lines Fights High Gas Prices By Buying Refinery For $150 Million

BUSINESS

  • Delta expects refinery purchase to save $300 million, provide 80% of US fuel needs
  • Questions around if Delta can successfully manage refinery venture
  • Airlines cope by raising ticket prices, cutting jobs, reducing destinations

With rising fuel prices a major factor in rising airfares, airlines need to be get creative to remain profitable; Delta Air Lines has done just that by purchasing an oil refinery in Pennsylvania.

The US-based airline paid $150 million to Conoco Phillips for the 185,000 barrel-per-day-capacity facility in a deal Reuters calls “the most audacious move yet by an airline trying to save money on fuel costs.”

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Google-Backed US Wind Connection Project Moving Forward

Google-Backed US Wind Connection Project Moving Forward

BUSINESS

  • US Department of the Interior clears $5 billion power line project
  • Project aims to begin distributing power by 2017
  • Project should transmit 7,000 MW of electricity or enough to power 2 million homes

Proposals for a $5 billion power transmission line serving wind farms off the United States East Coast have overcome an administrative obstacle, clearing the way for the next stage of the review process.

The US Department of the Interior found that the Atlantic Wind Connection project poses no conflict of interest with other activities in the area, allowing the Google-backed venture to proceed with its request for environmental approval.

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Robots To Run Digital Camera Manufacturing For Canon

Robots To Run Digital Camera Manufacturing For Canon

BUSINESS

  • Canon to use robots to reduce manufacturing costs
  • Automation viewed as wave of the future for Japanese manufacturers
  • If successful, Canon to be first manufacturer to fully automate digital camera production

Canon Inc., the world’s largest digital camera manufacturer, plans to fully automate its digital camera plants over the course of the next two years. The move is aimed at helping Canon cut overall manufacturing costs.

Japanese manufacturers have faced a number of challenges resulting from the value of the yen. In recent years, many have moved their facilities overseas to increase production and efficiency.

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P&G Moving Beauty Units To Asia To Capture Emerging Market Share

P&G Moving Beauty Units To Asia To Capture Emerging Market Share

BUSINESS

  • Procter & Gamble to move skin care, cosmetics, personal-care businesses to Singapore
  • Move part of restructuring plan aimed at saving company $10 billion by 2017
  • Asia-Pacific holds nearly half of global skin care market value, which totals almost $97 billion

The world's largest household products manufacturer Procter & Gamble plans to move its skin care, cosmetics and personal-care units from its company headquarters in Cincinnati, Ohio, to Singapore over the next two years, with the goal of capturing business in emerging markets.

P&G is the latest in a number of European and American companies relocating to Asia to take advantage of the growing Asia-Pacific market. According to Euromonitor International, Asia-Pacific holds nearly half of the skin care market’s global value, which is at close to $97 billion.

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Nissan Sees Record Automotive Sales In Major Markets Boost Profit

Nissan Sees Record Automotive Sales In Major Markets Boost Profit

BUSINESS

Nissan’s profits for the January to March quarter 2012 rose sharply, buoyed by record sales in major markets, which saw it outdo Japanese rivals Honda and Toyota.

The country’s second-largest automaker posted a quarterly operating profit of 118.1 billion yen ($1.48 billion), marking a 33% hike over the same period last year; net profit rocketed up 145%.

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Facebook To Add App Store

Facebook To Add App Store

BUSINESS

  • App Center announced as company prepares initial public offering
  • Rising number of mobile device users contributing to slowing revenue
  • 200 social apps on Facebook each have over 1 million users

Facebook is set to open a new online store where users can purchase apps and games, in a bid to maximize the company’s revenue from its enormous user base.

The announcement of the App Center from the social networking giant coincides with the company’s preparations for an initial public offering, which would value it at around $77 billion to $96 billion.

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TEPCO Saved By $12.5 Billion Bankruptcy Bailout From Japanese Government

TEPCO Saved By $12.5 Billion Bankruptcy Bailout From Japanese Government

WORLD

  • Bailout puts Tokyo Electric Power Co under temporary state control
  • 10-year restructuring plan includes cost cutting measures, new management and increased energy costs
  • Japanese public distrustful of nuclear power in the wake of the Fukushima Dai-ichi nuclear plant meltdown in 2011

The Japanese government has agreed to pay Tokyo Electric Power Co., one of the world’s largest utilities, a $12.5 billion bailout as part of a 10-year restructuring plan that will save TEPCO from bankruptcy; it also places TEPCO under temporary state control.

TEPCO has been in financial crisis since the March 11/11 Fukushima Daiichi nuclear plant meltdown, which followed a 9.0 magnitude earthquake. The company still owes billions of dollars in compensation claims and must pay cleanup expenses. It is expected to take decades to stabilize the Fukushima reactors and cleanup the area.

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