Category: World Business
Lockheed’s F-35 fighter jet under renewed pressure
Washington: Key US senators raised fresh questions about Lockheed Martin Corp’s $382 billion F-35 fighter program on Monday as the Pentagon’s top weapons buyer underscored deep flaws in the way the multinational arms program was set up from the sta…
Oracle seeks new trial against SAP over downloads
San Francisco: Oracle Corp rejected a potential $272 million award against SAP AG over copyright infringement allegations, instead opting for a new trial after a US judge had slashed over $1 billion from a previous verdict.In a court filing on Monday…
Panasonic posts $2.6 bn quarterly loss, raises full-year loss forecast
Tokyo: Panasonic Corp posted a quarterly net loss of ¥197.6 billion ($2.59 billion) on Tuesday and forecast a record ¥780 billion full-year net loss, hurt by weak demand for its TVs and the cost of restructuring operations. The loss at the maker of V…
Panasonic to forecast record $9.2 bn loss
Tokyo: Panasonic Corp is likely to forecast a record net annual loss of more than $9.2 billion, local media reported on Friday, as it tallies the cost of trying to fix its broken TV unit and writes down its Sanyo Electric acquisition, joining a trinity…
Glencore and Xstrata in $80 bn merger talks
London: Mining group Xstrata and commodities trader Glencore are in talks about an all-share deal that could create a combined group worth more than £50 billion ($79 billion).The world’s largest diversified commodities trader already owns a 34% stak…
Unilever sees tough year as markets slow
London: Consumer goods group Unilever said 2012 will be a difficult year as growth in emerging markets, which accounts for more than half its business, slows and demand in Europe and North America stays flat at best.The gloomy outlook sent shares in th…
Sony sees $2.9 bn loss, reveals daunting task for new CEO
Tokyo: The incoming chief of Japan’s Sony Corp will face the enormity of his task to turn around the electronics icon on Thursday when the firm is likely to forecast a fourth straight annual loss as it loses ground to rivals Apple and Samsung. Kazuo …
UK bank Lloyds shakes up management structure
London: Part-nationalised British bank Lloyds has streamlined its management structure, it said on Wednesday, adding that wholesale banking chief Truett Tate, a key stalwart of former boss Eric Daniels, has decided to retire from the group.Lloyds CEO A…
Google defends change to privacy policies
Washington: Planned changes to Google Inc’s privacy policies that have caught the attention of United States (US) lawmakers would not take away the control its customers have over how data is collected and used, the company said in a blog post on Tue…
US expands case against ex-Goldman director Gupta
New York: Federal prosecutors expanded their insider trading case against former Goldman Sachs Group Inc director Rajat Gupta on Tuesday, saying the illegal activity lasted longer and involved more trades than alleged. A new indictment filed in Manhatt…
