At first glance, it may seem easy to dismiss Chinese smartphone maker Xiaomi as a viable competitor to Apple. But that won't be for long.» Read More
*SK Hynix says received formal notice of Toshiba suit. SEOUL, July 21- South Korea's SK Hynix Inc on Monday said Japanese rival Toshiba Corp is seeking 109.15 billion yen in damages in a lawsuit filed over the suspected leak of NAND flash memory chip technology.
July 18- Sotheby's said it would cut an unspecified number of jobs to cut cost, months after ending a long-running battle with billionaire investor Daniel Loeb by appointing him to its board. Sotheby's shares rose 3 percent to $39 on the New York Stock Exchange on Friday.
The plan, mainly impacting the auction house's U.S. and UK operations, will result in employee-related restructuring charges of about $13 million to be recognized in the third quarter, the company said.
July 17- Microsoft Corp said on Thursday it would slash up to 18,000 jobs, or 14 percent of its workforce, this year. April 2014- The chipmaker said it had cut 1,500 jobs in Costa Rica. January 2014- Announced plans to reduce its global workforce of 107,000 by about 5 percent this year.
Microsoft Executive Vice President Stephen Elop sent employees of the company's devices business a memo detailing its job cut plans. Microsoft said it would cut up to 18,000 jobs over the next year, with about 12,500 related to Microsoft's acquisition of Nokia's phone business in April.
SEATTLE, July 17- Microsoft Corp will slash up to 18,000 jobs, or 14 percent of its workforce, this year as it almost halves the size of its newly acquired Nokia phone business and tries to transform into a cloud-computing and mobile-friendly software company.
July 16- General Electric Co is in talks to sell its century-old household appliances business for as much as $2.5 billion, Bloomberg reported, citing people familiar with the matter. The business, which had revenue of more than $8 billion in 2013, may fetch $1.5 billion to $2.5 billion in a sale, Bloomberg quoted the people as saying.
Boeing's stock soared nearly 80 percent last year, outperforming the Dow Jones Industrial Average and the S&P 500 index. But as indexes pushed higher this year, investors sent Boeing down 5.7 percent amid concern that the aviation business cycle may have peaked and that Boeing's ability to produce positive surprises is limited.
*CIMB plans seen highly likely to push Maybank towards a deal. *Maybank expected to wait first to see if CIMB clinches RHB. CIMB Group Holdings' proposal to buy RHB Capital Bhd and Malaysia Building Society Bhd would make it the country's biggest bank by assets and give it an enviable lead in domestic loans.
July 15- The top U.S. auditor regulator said it expects to conduct its first inspection of a mainland Chinese audit firm by the end of the year, under an expected deal to resolve a long-running dispute between the United States and China regarding accounting oversight.
July 15- Hewlett-Packard Co said interim Chairman Ralph Whitworth resigned from its board of directors, effective Wednesday, to focus on his health. Relational Investors said co-founder Whitworth was taking a leave of absence from the hedge fund and it wished "his family all the best at this difficult time."
July 15- Hewlett-Packard Co said its interim Chairman Ralph Whitworth resigned from the board of directors, effective July 16, to focus on his health. Whitworth, who runs activist hedge fund Relational Investors LLC, joined HP's board in 2011. He was appointed HP's interim chairman last year.
July 14- Microsoft Corp is planning its biggest round of job cuts in five years as the software maker looks to integrate Nokia Oyj's handset unit, Bloomberg reported, citing people with knowledge of the company's plans.
July 11- Crumbs Bake Shop Inc may get a second chance if a bankruptcy judge approves a deal for the owner of Dippin' Dots ice cream and the star of a reality television show to buy and reopen the U.S. cupcake chain, according to a court document.
July 10- Sports shoe maker Skechers USA Inc said it filed a lawsuit against Fila U.S.A. Inc, claiming Fila Amazen Memory Moc shoes infringed patents related to its Go Walk line.
July 10- Sports shoe maker Skechers USA Inc said it filed a lawsuit against Fila U.S.A. Inc, claiming Fila Amazen Memory Moc shoes infringed patents related to Skechers Go Walk shoes.
NEW YORK, July 8- Brent crude fell for its seventh straight session, hitting a one-month low below $110 a barrel on Tuesday on improved prospects for a rise in Libyan oil exports and easing fears of supply disruption in Iraq.
LONDON, July 8- Brent crude fell to a one-month low below $110 a barrel on Tuesday on improved prospects for a rise in Libyan oil exports and easing fears of supply disruption in Iraq.
*Announces investments in Britain by Indian companies. MUMBAI, July 7- Britain's finance minister George Osborne praised India's new prime minister Narendra Modi on Monday for helping create a quick turnaround in investor sentiment, during a two-day trip aimed at opening up opportunities in defense and infrastructure.
July 7- Mining group Anglo American Plc has agreed to sell its stake in a cement venture to its French-based partner Lafarge SA for at least $1.5 billion, proceeds which will be used to cut debt as part of a broader restructuring.