Top Headlines - part 64
BUSINESS May 25, 2012 | 5:04 PM
- 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.Read more »
BUSINESS May 24, 2012 | 2:29 PM
- 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.Read more »
BUSINESS May 23, 2012 | 2:06 PM
- 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.Read more »
BUSINESS May 22, 2012 | 5:16 PM
- 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.”Read more »
BUSINESS May 21, 2012 | 3:05 PM
- 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.Read more »
BUSINESS May 16, 2012 | 1:55 PM
- 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.Read more »
BUSINESS May 15, 2012 | 9:19 AM
- 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.Read more »
BUSINESS May 14, 2012 | 12:02 PM
- Nissan net profit up 145%
- Nissan operating profit up 33%; forecast to rise 28% over coming year
- Nissan sees record sales of 4.8 million vehicles for last year
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%.Read more »
BUSINESS May 11, 2012 | 2:46 PM
- 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.Read more »
WORLD May 10, 2012 | 4:11 PM
- 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.Read more »