January 15, 2015 8:06 am
General Motors Co announced on Wednesday it is expecting higher profit margins and underlying earnings in 2015 versus 2014, boosted by improved sales in all regions. GM will also increase its capital expenditure by 20% to $9 billion in 2015, the biggest amount the company has spent since its government-managed bankruptcy in 2009. The move […]
Read moreJanuary 14, 2015 2:52 pm
JPMorgan Chase & Co announced on Wednesday a decline in earnings due to a drop in revenue from fixed-income trading and higher than expected legal costs. Net income decreased to $4.9 billion during the fourth quarter from $5.3 billion a year earlier. Earnings per share stood at $1.19 versus $1.30 a year ago. Analysts have […]
Read moreJanuary 14, 2015 1:16 pm
Apple Inc and Swedens Ericsson are suing each other over royalties for patents covering wireless technology used in every iPhone and iPad. According to a filing to the District Court for Northern California, Ericsson is seeking excessive royalties for its “Long Term Evolution”-related patents. Apple claims that the Swedish company is demanding fees based on […]
Read moreJanuary 14, 2015 11:03 am
International Business Machines Corp announced on Tuesday the release of its new z13 system aimed at providing superior performance as the company tries to revive its struggling business. The z13 system is a product of five years of development and a $1 billion investment, IBM said. The companys new mainframe utilizes the innovations covered by […]
Read moreJanuary 14, 2015 10:17 am
Samsung Electronics Co Ltd released its first smartphone featuring its self-developed Tizen operating system in India, marking a push to reduce its reliance on Googles Android. The Samsung Z1, featuring 1.2GHz dual-core processor, 768 MB of RAM and up to 64GB of memory, was released in New Delhi on Wednesday and it sells for 5 […]
Read moreJanuary 14, 2015 8:20 am
Canadas Goldcorp Inc, the biggest gold miner by market value, warned late Monday that it might take an impairment charge of up to $2.7 billion on its Cerro Negro mine in Argentina due to unfavorable fiscal conditions in the country. The Vancouver-based company said the post-tax asset write-down would be recorded in the fourth quarter, […]
Read moreJanuary 13, 2015 3:08 pm
Boeing Co. was reported to have managed to deliver more planes than its major rival Airbus Group NV last year, which helped it keep the title of the worlds largest plane manufacturer for a third consecutive year. The increased number of deliveries was supported by the accelerated production of its newest jet 787 Dreamliner. Boeing […]
Read moreJanuary 13, 2015 3:00 pm
United Continental Holdings said on Monday that it was considering to outsource as many as 2 000 jobs across US airports as a part of a cost-cutting plan. The Chicago-based company said that the move will affect around 28 airports, including Atlanta, Miami, St. Louis and West Palm Beach, and it will target workers involved […]
Read moreJanuary 13, 2015 1:07 pm
General Motors Co unveiled on Monday the concept of its new plug-in Chevrolet Bolt, marking the companys push into the electric vehicle market. The vehicle is different for GMs Chevrolet Volt as it does not future a gasoline generator to extend travel range. The all-electric car has a 200-mile range on a single charge, a […]
Read moreJanuary 13, 2015 10:24 am
The founding family of Hyundai Motor Group, the fifth-biggest auto manufacturer in the world, failed to sell a stake in a logistics affiliate, impairing chairman Chung Mong-koos plans to hand control of the conglomerate over to his son. According to a person with knowledge of the matter, the Chairman of Hyundai Motor Co. and his […]
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