Toyota Prius sales booming in recession-struck Japan on tax-exempt green incentiveMay 30th, 2009 Toyota Prius sales boom in Japan despite slowdownTOKYO — Orders in Japan for Toyota's new Prius hybrid have topped a booming 110,000, a major dealership chain said Saturday, in what is turning out to be a rare bright spot in the gloomy auto market. The third-generation Prius officially rolled out in Japan just two weeks ago.
BlackBerry shares fall marginallyJanuary 22nd, 2009 TORONTO - BlackBerry maker Research In Motion's shares fell only slightly Thursday after the news that its two co-CEOs face a multi-million dollar fine from the market regulatory body. The co-CEOs - Jim Balsillie and Michael Lazaridis - face up to $100 million in fines from the provincial Ontario Securities Commission for their role in a stock option backdating controversy.
Abu Dhabi investment firm's new stake in Tesla signals added interest in electric carmakerJuly 14th, 2009 Added interest in Tesla as UAE firm buys stakeNEW YORK — With a $109,000-plus sports car as its only vehicle on the market, Tesla Motors would appear to a niche player on the auto scene. Yet parties including the U.S.
Nortel to shut down, sells wireless business to NokiaJune 20th, 2009 TORONTO - Toronto-headquartered Nortel, which is under bankruptcy protection in both the US and Canada, has announced that it will liquidate itself. In a statement issued Friday, the 127-year-old Canadian telecom equipment giant said it has entered into a deal with Nokia Siemens to sell its wireless business for $650 million.
Nokia India agrees to discuss workers' demandsAugust 15th, 2009 CHENNAI - A day after employees staged a sit-in in front of the Nokia India plant here, the management Saturday agreed to discuss their demands, including a higher wage hike than they were offered. A union official said a reconciliatory meeting between employees representatives and company officials ended amicably Saturday and workers would submit a charter of demands next week.
BlackBerry bosses face $100 mn fine for stock option backdatingJanuary 21st, 2009 TORONTO - Research In Motion (RIM) is facing more trouble after a court here Monday ordered the BlackBerry maker to drop its bid for takeover of an Indian-owned company. The company's bosses face individual penalties to the tune of $100 million from the provincial Ontario Securities Commission for their role in a stock option backdating controversy.
Arkansas officials launch iPhone application to track state's stimulus fundsMay 6th, 2009 Ark. launches iPhone application on stimulus cashLITTLE ROCK, Ark. — Information on Arkansas' share of federal stimulus dollars is coming to an iPhone near you.
CEO pay in US drops with economic meltdownApril 6th, 2009 Even as India-born Sanjay Jha of Motorola took home a staggering $104.4 million pay package, the average compensation for top CEOs in the US dropped for the first time in five years with the economic meltdown. The average compensation for 200 chief executives at America's largest public companies fell 5.1 percent last year to $10.8 million, according to a survey published Sunday by the New York Times and research firm Equilar.
BlackBerry bosses fined $77 million for option backdatingFebruary 5th, 2009 TORONTO - BlackBerry co-CEOs and top executives were collectively fined $77 million Thursday for their role in a stock option backdating controversy at the wireless communication giant. The provincial Ontario Securities Commission, which has been investigating the two co-CEOs - Jim Balsillie and Michael Lazaridis - and other executives for their role in the controversy dating from 1996 to 2006, handed down the biggest fine in its history for financial irregularities.
FedEx, Motorola, American Axle, Progressive, Covidien are among big market moversSeptember 11th, 2009 FedEx, Motorola, American Axle big moversNEW YORK — The following stocks were among those that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE:
FedEx Corp., up $4.66 at $77.32
The package delivery company raised its first-quarter earnings forecast on better-than-expected international shipments and cost cuts. Motorola Inc., up 71 cents at $8.68
The struggling phone maker unveiled its first device using Google's Android system, banking on it to attract consumers.
Chinese factory worker kills himself over missing iPhone prototype; Apple offers condolencesJuly 22nd, 2009 Chinese worker commits suicide over missing iPhoneGUANGZHOU, China — An employee at a factory that makes iPhones in China killed himself after a prototype went missing, and Apple Inc. responded Wednesday by saying its suppliers are required to treat workers with dignity and respect.
Apple offers iPhone cut and pasteMarch 18th, 2009 SAN FRANCISCO - Apple unveiled its proposed new software for its genre-defining iPhone Tuesday and gave acolytes of the world's most popular smartphone the feature they most wanted: the ability to cut and paste text and pictures on the device. Lack of the cut and paste facility had been one of the main drawbacks of the device, compared to competitors like the Blackberry.
Seagate Technology to eliminate 1,100 jobs as part of restructuring planMay 13th, 2009 Seagate Technology to cut 1,100 jobsSCOTTS VALLEY, Calif. — Hard drive maker Seagate Technology said Wednesday it plans to cut about 1,100 jobs, or 2.5 percent of its global work force, as part of a restructuring plan.
Nokia Siemens buying Nortel wireless units, Nortel to liquidateJune 20th, 2009 Nortel to sell itself off in piecesTORONTO — Nortel Networks, once a technology giant, has decided to sell itself off in pieces rather than attempt to emerge from bankruptcy as a restructured company. Nokia Siemens Networks agreed to buy some wireless operations of Canada's Nortel Networks Corp.
Motorola loss widens, but beats Street; analysts see worrisome signsApril 30th, 2009 Motorola loss widens; analysts see worrisome signsNEW YORK — Motorola Inc. defeated low expectations Thursday, posting a smaller first-quarter loss than Wall Street had expected and regaining its position as the world's fourth-largest maker of cell phones.