The South Korean government has approved a plan by Samsung Electronics to build a new flash memory chip plant in China. The industry has enjoyed substantial growth thanks to increased demand for smartphones and tablet devices. Firms in South Korea must apply to the government in order to establish production bases outside the country, for [...]
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Tags: Auto, Draft, flash memory chips, gartner estimate, market, percent, plant, south korean government, Tablet 
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The Japanese camera manufacturer Olympus Corporation (TYO: 7733) admitted on Tuesday that it has been hiding losses on security investments dating back two decades. The company, which makes consumer and professional cameras as well as specialist optical equipment for the medical profession, said that funds relating to the 2008 acquisition of UK medical equipment manufacturer [...]
Losses at UK sports retailer JJB Sports have increased with the company saying that conditions were worse than they had been expecting. For the six months to the end of July pre-tax losses had gone up to £66.5 million, compared with 2010′s loss of £24 million. Sales have fallen by over 20 percent, to £142.2 [...]
Posted in Economy, Featured Post, LifeStyle Tags: Auto, Draft, european football championships, jjb sports, percent, Red, turnaround plan, Year No Comments »
Apple (NASDAQ: AAPL) has been overtaken by Samsung as the world leader in smartphone shipments. For the three month period from July to September, Samsung shipped 27.8 million smartphones compared to Apple’s 17.1 million and Nokia’s 16.8 million. The data was provided by consultancy Strategy Analytics, who also said that the Apple slowdown was because [...]
Posted in Economy, Featured Post, LifeStyle Tags: market, mobile phone business, percent, share, strategy analytics, third quarter results No Comments »
In a reversal of an earlier decision, Hewlett-Packard, or HP (NYSE: HPQ) wil no longer sell its personal computer manufacturing business. The plan, announced 2 months ago by former CEO Leo Apotheker, was overturned by new CEO Meg Whitman after she ordered a review into the plan to spin off the company’s Personal Systems Group. [...]
Posted in Economy, Featured Post, LifeStyle Tags: Auto, british software company, Draft, executive, meg whitman, Packard, percent, personal systems group, PSG No Comments »
A report issued by trade body, the Organisation for Economic Co-ordination and Development (OECD) has praised the government in the Republic of Ireland for its “very sizeable” measures taken in order to reduce the budget deficit. The OECD study showed that the Irish economy had made a “modest recovery”, but warned that should the debt [...]
The Korean electronics and technology firm Samsung (LSE: SMSN, SMSD; KRX: 005930, 005935) has forecast profits for the third quarter of 2011 will be better than expected. The company said it expected to make an operating profit of 4.2 trillion won ($3.5 billion), an improvement on the 3.5 trillion won which the markets had predicted [...]
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UK economists are expecting the Bank of England’s Monetary Policy Committee (MPC) to order another round of quantitative easing this week, amid fears that the country is heading for a double-dip recession. It is thought that the MPC will set aside its own fears of inflation caused by creating more money, by injecting £50 billion [...]
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The UK’s leading supermarket chain Tesco (LSE: TSCO) has announced that its half-year profits rose, although the company also admitted that UK sales were their worst in 20 years. Tesco’s pre-tax profit for the six months up to the 27 August was up by 12.1 percent on the previous year, at £1.9 billion. Group sales [...]
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Finnish mobile phone producer Nokia (OMX: NOK1V; NYSE: NOK; FWB: NOA3) announced on Thursday that it is to shed 3500 jobs. The company added that it is also to close a manufacturing plant in Romania by the end of the year. Nokia unveiled a cost-cutting programme in April this year, aimed at saving €1 billion, [...]
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Chinese Internet Sites Hit By Anonymous Attack 
Investors’ Better Off Buying Oil Than Gold, Says Leading Fund Manager 
James Murdoch Leaves Chairman Post At BSkyB 
Sentiment Of Canada’s Small Businesses Rises For Seventh Consecutive Month 
New Website Aims To Become Big Player In The Daily Deals Market 
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