BUSINESS September 7, 2011 | 9:33 AM
It took the announcement from HP that it would be stopping the manufacture of the TouchPad tablet device for sales of the company’s would-be rival to the iPad to finally take off in a meaningful way.
Late last month, hundreds of thousands of the devices were sold within days following the news that the product was being discontinued. “All this clamouring for the TouchPad, kind of bittersweet,” HP’s social media manager Bryna Corcoran wrote on Twitter, as the last versions of the device began to fly off the shelves.Read more »
BUSINESS September 7, 2011 | 9:27 AM
Chinese non-governmental environmentalist organizations have accused Apple of breaching environmental measures, listing over 20 suppliers. Apple’s accusers have described the alleged environmental damage in a report, “The Other Side of Apple II”, supporting their claim and including supposed photographic evidence.
The NGOs diffused video footage on Chinese video hosting website ku6.com, showing river water tinged with yellow supposedly caused by two companies in the surrounding area, one of which is thought to be a supplier to Apple.Read more »
BUSINESS September 6, 2011 | 1:42 PM
Apple published two listings for product security managers Monday after an iPhone prototype went missing – the second in as many years.
The two job descriptions for Manager for New Product Security appeared soon after the news that a fifth-generation iPhone prototype had been lost, reportedly by one of Apple’s employees. It may be that the job listings are not a direct reaction to the missing prototype, though the timing strongly suggests Apple management is looking to permanently plug a recurring leak in its product security.Read more »
WORLD September 6, 2011 | 12:03 PM
Space agency officials from the United States and Russia are considering the withdrawal of all personnel from the International Space Station (ISS), following the failed launch of a Russian Soyuz rocket last week.
The unmanned Soyuz rocket was transporting supplies to the ISS last week when it suffered a malfunction and crashed in Siberia. Russian scientists have not yet identified the cause of the failure but said they were confident they could fix the problem before mid-November, when the last of the current crew onboard the ISS are scheduled to leave.Read more »
BUSINESS September 6, 2011 | 11:33 AM
The world’s biggest soft drink maker Coca-Cola is investing in bottling sites and delivery vehicles to boost per-capita purchases in China. The drinks giant will spend $4 million over 2012 to 2015 to expand operations, with funds allocated to build bottling plants, purchase trucks, increase coolers and beef up distribution.
Coca-Cola makes and sells Sprite, the number one drink in China, and currently has over 40 plants in operation in China, with nearly 50,000 employees, reports Bloomberg. Sales in China reached above 1 billion unit cases in the first half of 2011, having doubled in six years. Pacific sales jumped less than 10% to almost $5 billion in 2010, according to Bloomberg.Read more »
BUSINESS September 5, 2011 | 5:23 PM
A United States federal judge has overruled a verdict awarding $1.3 billion to California-based software company Oracle for copyright infringement on the part of its rival SAP.
US District Judge Phyllis Hamilton described as “grossly excessive” the award that was handed down by jury decision last year in the lawsuit between two of the world’s largest software companies, ruling in favor of SAP’s motion to reject the verdict on the grounds that Oracle had only proven damages up to $272 million.Read more »
BUSINESS September 5, 2011 | 5:10 PM
Lockheed Martin believes stealth technology may give it an edge over Boeing and Eurofighter in the contest to provide Japan with a fleet of new fighter jets. The deal involves supplying 40 jets, starting in 2016, and comes with a price tag of over $4 billion.
Japan has issued a request for proposal (RFP) and will begin reviewing offers from prospective suppliers this month as it looks to keep up with China and North Korea, which have been investing heavily in their defense forces. The new fighter jets will be an upgrade for Japan’s Boeing F-4s, which were assembled 30 years ago.Read more »
ECONOMY September 5, 2011 | 2:50 PM
Economists from the ECB Council are calling on the European Central Bank to reverse this year's interest rate, which has already been raised twice since January.
Currently at 1.5%, the high interest rate may further dampen the European economy according to members of the ECB Council, who believe that a contraction in consumer confidence, manufacturing and business may continue into the third quarter. Elga Bartsch, Chief European Economist for Morgan Stanley and member of the ECB Council, has reduced her Euro zone growth expectation for next year to only 0.5% due to the deceleration in manufacturing.Read more »
BUSINESS September 5, 2011 | 11:44 AM
Global factory output took a fall in the month of August, raising concerns of a global recession.
Export orders slumped throughout the United States and European Union, resulting in a big drop in stock markets. In the EU, there was a general slowdown in factory activity, with the United Kingdom seeing the fastest rate of contraction in about two years.Read more »
BUSINESS September 5, 2011 | 10:29 AM
Alberta’s oil sands and their impact on the environment will be the central issue in a sit-in scheduled for September 26 in Ottawa.
Key organizers Greenpeace Canada, the Council of Canadians, and the Indigenous Environmental Network are hoping for an event similar in impact to a recent Washington, D.C., protest. In Washington, dozens, including actress Margot Kidder, were arrested for protesting a TransCanadaCorp pipeline project transporting crude oil from Alberta to Illinois and Oklahoma markets, thus expanding its current line to Houston, Texas.Read more »
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