Home » Archive for March, 2013

Natural Gas Deposits to start Flowing in Israel

Israel has realized that its recent discovery of large natural gas reserves offshore is a mixed blessing. The flow of natural gas from one of the two fields is expected within days. Expects in natural gas believe the new discovery of natural gas is enough for domestic use for Israel for decades. Those same experts also feel that the deposits of natural gas will transform the country that is famously lacking in natural resources into an energy exporter. Nevertheless, exporting the gas overseas does not come without its problems. Israel will be risking... 
 

Justice Department Settles Online Pharmacy Probe with UPS

The U.S. Justice Department announced it had reached an agreement for $40 million Friday to settle charges against UPS that the giant shipping company had done business with Internet pharmacies that were illegal. U.S. officials agreed as part of the settlement not to file prosecution charges against UPS in exchange for UPS handing over the $40 million the company received from its business dealings with the illicit pharmacies operating online. Another requisite of the deal is that UPS implement a strict compliance program. The Justice Department... 
 

Five Month High in U.S. Consumer Spending

In February, U.S. consumer spending climbed by more than at any time in the past five months, due to salary increases signaling a job market improvement is helping to increase demand. Purchase in household, which are nearly 70% of the U.S. economy, increased by 0.7% after increasing by 0.4% during January, which was more than had been expected. Labor market increases and a rise in the household wealth that was tied to increased stocks and home values have helped Americans recover from the fallout of costlier fuel and higher taxes. U.S. stock markets... 
 

Mobile Device Ads Boost Twitter Ad Revenue

Twitter will reach close to $1 billion in revenue from advertising in 2014 thanks to a huge surge in advertising on mobile devices, according to new reports that were released late Wednesday. Mobile ads, said the report, will account for close to 50% of advertising revenue for Twitter this year and will account for over 60% of the ad revenue for the company before 2015, said research released by eMarketer, an online research firm. The ever growing popularity of mobile ads on Twitter, which were first introduced in March of 2012, caused the research... 
 

Dell Computer Receives more Bids for Takeover

Dell Inc, once the largest personal computer maker in the world, has received two more takeover bids that could be better than the original one received by Dell’s founder Michael Dell last month. The two bids that will compete with last months’ bid are from Carl Icahn, the activist investor and from the private equity fund Blackstone Group. A committee consisting of board members at the computer company said the latest two bids could be superior to that of Michael Dell’s. In February, Dell offered to pay $13.65 a share for the computer manufacturer... 
 

Darden’s Restaurants Profits Drop but beat Wall Street

Profits for the third quarter at Darden’s were down by 18%, as lower sales at Red Lobster hurt earnings. However, the restaurant chain still beat Wall Street estimates. The Orlando, Florida based company said last week that sales at LongHorn Steakhouses, Red Lobster and Olive Garden restaurants opened for more than one year fell by a combined 4.6%. Stores opened for at least a year is a good way to gauge the performance of a restaurant since it excludes results from restaurants recently opened as well as restaurants that have just closed. Darden’s... 
 

Nike Stock Jumps on Earnings Report

The largest maker of sporting goods in the world, Nike, Inc saw its stock price jump the most in more than 48 months on Friday. The increase was due to investor’s concerns easing over the company profitability and business in China both becoming weaker. Nike shares were up 11% on Friday to close at $59.53. The Beaverton, Oregon based company saw its largest gain since October of 2008. Nike is up in 2013 by 15% compared to only a 9.1% increase by the S&P 500 Index. Nike finally saw dividends pay off for its increases in prices that were put... 
 

Blackberry Launching Z10 in States

On Friday, smartphone maker Blackberry, known as Research in Motion until earlier this year, will be launching their new generation smartphone in the U.S. The launch of two new smartphones is the Canadian based company’s last effort in trying to win back customers for the many product delays and below par performances, the handset maker has had. Thorsten Heins the company CEO said Blackberry would fight to retain and regain each customer. Earlier this year, the company changed its corporate name to reflect the focus the company was putting on... 
 

HTC Delays Release of Latest Smartphone

HTC, the Taiwan based smartphone maker, has delayed the release of its latest smartphone due to a sourcing problem with components. With the HTC One now not launching on time, additional pressure is being place on CEO Peter Chou to step down. The HTC online site has a large banner that reads – the wait is over. Referring to the release of the new smartphone that is said to have a camera described as utlrapixels. Nevertheless, for the smartphone buyers who were looking forward to purchasing the phone and those executives at HTC looking to regain... 
 

Apple to Give Cash Back to Shareholders

Apple is set to bolster its dividend by more than half according to analysts polled by Bloomberg. This would give investors one of the highest yields in the US technology industry. Apple’s quarterly dividend will likely to increase 56 percent to $4.14 per share with an annual payout of $15.7 billion. The resulting yield of 3.7 percent would be higher than 86 percent of firms from the Standard & Poor’s 500 index paying dividends. Apple could get the funds for the payout from its existing cash flow without using profit from overseas that could... 
 

Mexico Supreme Court Rules against Apple

The Mexico Supreme Court ruled in favor of a technology services firm upholding a lower court ruling that said the company owns the brand name Ifone and has the right to use it in the country. The small company now hopes to receive a large amount of compensation from wireless operators and Apple for their use of the Ifone brand name. The dispute started in 2009 with Apple when the Cupertino-based tech giant form the U.S. attempted to register its iPhone name in Mexico. The Industry Property Institute of Mexico told Apple that the name they were... 
 

Fiscal Policy Worries Hit Consumer Sentiment

In the first part of March, consumer sentiment plunged to its lowest point since December of 2011. Experts believe the consumers dissatisfaction with the economic policies of the government and fewer people expect improvements to be seen in the labor market or growth, fueled the decline. The University of Michigan/Thomson Reuters first reading of the index for consumer sentiment fell from February’s 77.6 to 71.8. The expectation was the index would rise to 78. The government budget cuts that are across the board of more than $85 billion were put... 
 

VW Targets 60% increase in China Production by 2018

Europe’s largest automaker, Volkswagen AG, announced on Thursday its plans to increase its production of vehicles in China by over 60% in the next five years. The Germany automobile giant last year saw its earnings in China increase by close to a half. A new plant has been approved by the company’s supervisory board that could build as many as 300,000 vehicles each year in China. That plant will start its operations sometime in 2016, said Martin Winterkorn the CEO of Volkswagen. The capacity of production in China for Volkswagen will increase... 
 

Samsung Spends Much More in Advertising than its Competitors

New data just released this week shows that Samsung spent more than $400 million on billboard, internet, television and print advertising in 2012. The electronics giant, based in South Korea, passed both Apple its biggest rival and HTC in dollars spent advertising. During 2011, Apple out spent by a three to one margin Samsung in advertising. The data showed an increase by Samsung in advertising in the U.S. by more than $323 million between 2011 and 2012. Its biggest rival, Apple spent the second largest amount on advertising increasing its budget... 
 

Small Business Optimism Goes Up for 3rd Month in a Row

Confidence among small businesses in the United States increased in February for the third straight month of gains. Company leaders said they are more willing to invest in equipment and inventories. The National Federation of Independent Business’ optimism index gained 1.9 points to 90.8 in February from 88.9 in January. Eight of the measure’s 10 components went up. The report also indicated respondents maintained their negative outlook towards the economic growth and earnings. It was a sign that gains in capital spending and inventories would... 
 
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