Top Headlines - part 68
BUSINESS June 29, 2012 | 5:58 PM
- Apple planning biggest iTunes overhaul since release in 2003
- Improved music sharing, iCloud services, social media among changes
- iTunes software generated $1.9 billion revenue in 2011
As the online media and applications industries grow ever larger, Apple is looking to make it easier for users to manage their lives up in the cloud with a radical makeover of its iTunes software, according to sources close to the matter.
Changes in iTunes will include improved music sharing and file storage and integration capabilities with its iCloud service. This will streamline users’ management of music, videos and applications across the various Apple devices, the anonymous sources told Bloomberg.Read more »
BUSINESS June 28, 2012 | 3:39 PM
- Apple claims Samsung infringing on iPad patents, demands action
- Injunctions in Germany, Australia and the Netherlands overturned
- 123.5 million smartphones and tablets expected to be sold by end 2012
The world’s two largest manufacturers of smartphones and tablet PCs Samsung Electronics Co. and Apple Inc. will soon face off in court over patent infringements. A US District Court Judge has placed a temporary injunction on the sale of the Galaxy Tab 10.1 after Apple claimed the Galaxy is a copy of the iPad.
The injunction does not apply to the Galaxy Tab 10.1 II.Read more »
BUSINESS June 27, 2012 | 5:26 PM
- Coca-Cola adding $3 billion investment in India; has invested $2 billion in India over past 19 years
- Coca-Cola trails rival Pepsi Co. in India
- India represents $10 billion market and one of Coca-Cola’s top-ten markets
Coca-Cola Co., the world's largest soft drinks manufacturer, plans to invest $3 billion more than previous announced in its Indian division over the next eight years. In November, Coke announced it would be investing $2 billion, but decided to up its investment after growth increased in Asia earlier this year.
Prior to this, Coke invested $2 billion in India over the past 19 years.Read more »
BUSINESS June 6, 2012 | 1:50 PM
- Social marketing platform Buddy Media to help SalesForce better compete in social media sector, keep up with customer demand
- Salesforce estimates acquisition will boost revenue $20 million - $25 million annually
- Deal largest in Salesforce history
Salesforce.com Inc., which sells CRM software and cloud computing services, is buying social marketing platform Buddy Media for $689 million so it can better compete in the growing social media sector.
Salesforce CEO Marc Benioff says the company chose Buddy Media because of its reputable products and the strength of its platform, adding the acquisition will allow Salesforce to keep up with customer demand.Read more »
BUSINESS June 6, 2012 | 10:30 AM
- Coffee shop chain to purchase Bay Bread for $100 million
- Purchase will help Starbucks achieve its goal of more food choices
- Offering baked goods will allow Starbucks to compete against fast food chains
Starbucks Corp., the world’s largest coffee-shop chain, will purchase San Francisco-based Bay Bread LLC for $100 million in cash in an effort to boost the number of its non-coffee offerings. The purchase includes 19 retail locations and the brand name La Boulange.
La Boulange products are sold at San Francisco area grocery stores, hotels and restaurants, with products including French style bread, homemade granola and flank steak sandwiches.Read more »
BUSINESS June 5, 2012 | 10:01 AM
- Fastest growing internet traffic in Middle East, Africa and Asia Pacific
- Popularity of smartphones, internet-based tablets and other mobile technology devices driving surge in usage
- Wi-Fi availability will account for nearly half of all IP traffic by 2016
Cisco Systems’ Visual Networking Index (VNI), which analyzes the growth and use of IP networks worldwide, predicts that internet traffic will grow at a rate of 29%, with nearly 19 billion total global mobile and fixed network connections by 2016.
In a recent statement, Cisco said: “The projected increase of global IP traffic between 2015 and 2016 alone is more than 330 exabytes, which is almost equal to the total amount of global IP traffic generated in 2011 (369 exabytes).”Read more »
BUSINESS June 4, 2012 | 6:01 PM
- Macau gambling growth sees record 3-year low of 7.3% in May 2012
- Weak Chinese economy affecting gaming industry
- Sands China ends appeal to expand in Macau
Macau's Gaming Inspection and Coordination Bureau reports that Macau, the world’s largest gambling destination, saw revenue grow in May 2012 by 7.3%, which is the smallest percentage of increase since 2009. The number is also much lower than the 22% seen in April, and the 70%-90% growth rates seen in 2010.
Macau, located on the South China Sea, reports gambling revenue five times that of Las Vegas. It saw its initial industry boom aided by rising property values in China as well as a rise in disposable income.Read more »
BUSINESS June 1, 2012 | 10:59 AM
- Barloworld purchasing South African Bucyrus from Caterpillar
- Sale follows Caterpillar’s usual pattern of selling through distributors
- Deal to close in third quarter
Caterpillar Global Mining LLC, the world's largest manufacturer of bulldozers, excavators and other earth-moving machinery, will sell a portion of its distribution-and-support business Bucyrus to Barloworld Ltd. for $115 million.
The sale comes less than a year after Caterpillar purchased Bucyrus for $7.6 billion.Read more »
BUSINESS May 31, 2012 | 4:42 PM
- Repsol to invest $23.8 billion in a strategic development plan
- Argentine President Cristina Kirchner nationalized YPF in May to save nation from rising oil costs
- Repsol leaving Argentina with $9 billion in debt, seeks $9.9 billion in compensation for expropriated shares
Spanish oil giant Repsol plans to invest $23.8 billion over the next four years in a strategic move to compensate for the loss of its Argentine gas and oil unit YPF to nationalization.
Most of the investment, or $15.8 billion, will go to new oil exploration projects in Spain, Russia, South America, the United States and Algeria.Read more »
BUSINESS May 30, 2012 | 4:45 PM
- Layoffs comprise 8% of company’s nearly 350,000 employees worldwide
- HP and rival Dell trying to stay relevant as PC sales fall due to popularity of mobile devices
- Previous attempts to cut HP’s spending have not worked
Hewlett-Packard, the largest technology company in the US, is preparing to lay off up to 27,000 employees as part of CEO Meg Whitman’s restructuring plan. Seen as a cost-cutting measure, the layoffs are expected to save the company up to $3.5 billion by 2014.
The layoffs comprise 8% of the company’s nearly 350,000 employees worldwide and are expected to come primarily from the printing division, which in March was merged with the personal systems division. In 2011, profit in the printing division fell 10% and sales were stagnant.Read more »