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‘Blaupunkt Malaysia to be sold to Europe-based firm’

‘Blaupunkt Malaysia to be sold to Europe-based firm’

GEORGE TOWN: German automotive infotainment system maker Blaupunkt GmbH is up for sale with its local subsidiary Blaupunkt Malaysia Sdn Bhd likely to be the first subsidiary to be sold off. Business Times has learnt that a European-based player in the auto multimedia industry is likely to be the new buyer of Blaupunkt Malaysia and […]

October 29, 2015 | By | Reply More
Samsung posts Q3 profit surge, announces $10bn share buyback

Samsung posts Q3 profit surge, announces $10bn share buyback

SEOUL: South Korea’s Samsung Electronics pulled out of an extended earnings dive Thursday, reporting a nearly 30 percent surge in third-quarter net profit and announcing a $10 billion share buyback. Favourable exchange rates and a renewed focus on components were behind the profit jump, which provided a robust response to those who had warned Samsung […]

October 29, 2015 | By | Reply More
Pollution scam pushes VW into first quarterly loss in 15 years

Pollution scam pushes VW into first quarterly loss in 15 years

FRANKFURT: German auto giant Volkswagen on Wednesday booked its first quarterly loss in more than 15 years in the wake of the global pollution-cheating scandal which also forced it to lower its full-year forecasts. VW said initial provisions related to its admission that it had fitted 11 million diesel vehicles worldwide with sophisticated software to […]

October 28, 2015 | By | Reply More
Fed keeps key near-zero rate unchanged

Fed keeps key near-zero rate unchanged

October 29, 2015 WASHINGTON: The Federal Reserve kept its near-zero benchmark interest rate unchanged Wednesday but said the US economy is growing moderately on the back of “solid” consumer spending and business investment. In a slightly more positive policy statement than in September, the Fed also dropped its reference to the slow global economy posing […]

October 28, 2015 | By | Reply More
GM promises additional US investment to secure 3,300 jobs

GM promises additional US investment to secure 3,300 jobs

DETROIT: General Motors Co has promised the United Auto Workers union it will invest an additional US$1.9 billion in its U.S. factories to secure 3,300 union jobs, and pay higher wages and bonuses under a proposed four-year contract. GM will also pay bonuses of up to US$8,000 to nearly 53,000 UAW workers once they ratify […]

October 28, 2015 | By | Reply More
IBM leverages cloud power in deal for Weather Company

IBM leverages cloud power in deal for Weather Company

SAN FRANCISCO: IBM is bringing its “cloud” computing power to a deal with The Weather Company. Under the agreement announced Wednesday, IBM will acquire the product and technology operations of the group, which operates the weather.com website and mobile application, among others. The deal allows IBM to use its Watson supercomputer to collect and analyze […]

October 28, 2015 | By | Reply More
Global smartphone sales pick up on fierce competition

Global smartphone sales pick up on fierce competition

WASHINGTON: Global smartphone sales gained in the third quarter as major vendors ramped up special deals and financing to attract buyers, a survey showed Wednesday. A survey by IDC showed global smartphone sales of 355.2 million in the July-September period, up 6.8 percent from a year ago and the second highest quarterly total on record. […]

October 28, 2015 | By | Reply More
PayPal's China, Europe transaction volumes hit by strong dollar

PayPal's China, Europe transaction volumes hit by strong dollar

REUTERS: Payment processor PayPal Holdings Inc , spun off from eBay Inc reported quarterly revenue slightly below analysts’ expectations as a strong dollar hurt its transaction volumes in China and Europe. Shares of PayPal, which listed for the second time on the Nasdaq in July, fell 5.6 percent in extended trading on Wednesday. PayPal’s third-quarter […]

October 28, 2015 | By | Reply More
Hershey sees squeeze from growing US income gap

Hershey sees squeeze from growing US income gap

NEW YORK: Chocolate maker Hershey Co , long a staple of middle-class U.S. households, is getting squeezed as consumers either pay up for fancier sweets or seek more savings. The maker of Hershey kisses and Reese’s peanut butter cups reported lower-than-expected U.S. sales on Wednesday and cut its profit forecast for the year, sending shares […]

October 28, 2015 | By | Reply More
Muar Ban Lee bags RM16.6 million contract

Muar Ban Lee bags RM16.6 million contract

PETALING JAYA: Muar Ban Lee Group Bhd has clinched a RM16.6 million contract (US$3.93 million) from PT Sari Dumai Sejati, to supply an 800 tonnes per 24 hours palm kernel crushing plant and ancillary machinery. In a filing with Bursa Malaysia yesterday, the company said its wholly-owned subsidiary Muar Ban Lee Technology Sdn Bhd entered […]

October 28, 2015 | By | Reply More