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Foxconn woos Sharp with a more-than $5 billion offer; Innovation Network Corp no more the only potential buyer in the running
Foxconn has put forth a highly tempting offer of over $5 billion in front of the almost-bankrupt Sharp Corp, which well exceeds its current valuation at $1.8 billion. The other potential buyer, Innovation Network Corp. of Japan, who was already very confident, is not so sure of a win right now. Foxconn's bid amount not only surpasses Innovation's $2.5 billion, the Taiwanese firm has also offered to absorb all of Sharp's debts and not make any top management replacements. While the board does not want their Japanese seller to fall under any kind of foreign control, the decision needs to be based purely on deal economics and not political considerations.
Apple’s first iOS development center in Europe to open in Naples, Italy
Apple is all set to build its first iOS development center in Europe. With Italy's Naples as the chosen location, the world's largest app seller plans to provide opportunities to the students of the country to join the world's most enviable app ecosystem. Apple will help the teachers draw up a special curriculum to facilitate this process. Europe is already reaping the benefits as its developers have earned a total of $11.1 billion from sale of Apple apps. Now, with its move into Italy, the country is already looking at 75,000 job opportunities.
Survey: U.S Companies Reported Tough Times Doing Business in China, With Growing Concerns Over Regulations and Economy Growth, Among Other Factors
The survey revealed that one of the top concerns defining most U.S companies' tough times doing business in China is uncertain regulations that they perceived as unwelcoming to foreign companies. The slowing of China's economic growth also remains a concern, along with rising labor costs, censorship, and air pollution. However, China is still most foreign countries' investment priority among other markets.
Car Auction: 1957 Ferrari 335 S Expected to Break Record as the Most Expensive Car Ever Sold at Auction
The extraordinary high price was due to its extensive race history, which includes a world championship title. The supercar is expected to sell for more than $34 million in Retromobile Classic Car show in Paris, one of the most prestigious salons for car enthusiasts.