Michelin posted an increase of 19% in its earnings for the year 2015 helped by low raw material costs and its restructuring activities in Europe. The company also expects strong demand for its tires in 2016.
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Tripartite Force of Vaio, Toshiba And Fujitsu To Dominate Global PC Market
The global PC shipments are shrinking significantly with ever growing popularity of smart phones and tablets. Amid volatile market situation, Vaio, Toshiba and Fujitsu have been rumored to reach in a consensus for developing a PC manufacturing firm. However, it will be difficult for the joint ventured entity to spread dominance outside Japan.
UK inflation rate inches up to 12-month high
The UK's headline rate of inflation reached to 12-month high. However, it remained below the two percent target of Bank of England for two years. The consumer prices index rose following the price rise in oil, clothing and food products. Economists and consumers are looking to UK's central bank whether it'll raise interest rate or not.
Ratan Tata Invests In A New Tech Start-Up Business, Snapbizz
Ratan Tata has invested in a new tech start-up business, Snapbizz. This is Tata's eighth e-commerce business this year after DogSpot.in, Tracxn, CashKaro, FirstCry, Teabox, Moglix and Invictus Technology.
Anglo American loss widens on write-downs
Anglo American Plc suffered a pre-tax loss of $5.5 billion (£3.8bln) for 2015 year. The 2015 loss was more than twice the loss incurred in 2014. As part of its future strategy, Anglo American is planning to shift its focus to copper, platinum and diamonds.
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India's exports fell 13.6 percent from January a year ago and it has been dropping for 14 consecutive months, while imports contracted 11.01 percent. However, the Reserve Bank of India will not devalue its currency unlike China and Japan.
China is planning to put more budget in infrastructure. The country's planning agency expects to boost spending and increase investment to maintain 7% annual economic growth as last year.
Gulfstream has introduced larger cabin containing personal jets, the G650 family which is capable of flying with 92% speed of sound. The aircraft, valuing $65 million is witnessing a huge demand. The aircraft manufacture is going to offer a probable delivery schedule of 2018 in the upcoming Singapore Autoshow.
Freeport-McMoRan has signed a definitive deal with Sumitomo in order to sell its 13% interest in Morenci for $1 billion cash. The company intends to utilize the transaction proceeds to repay its bank loans.
Shareholders of the Italian tyre maker Pirelli has nodded in favor of the proposed merger with Marco Polo Industrial Holding. Marco Polo’s parent concern ChemChina has acquired Pirelli for $8.25 billion last year. The merging is scheduled to be completed by mid 2016.
One of the world's biggest mining company Anglo American Plc announced to sell its share in Kumba Iron Ore on Tuesday. The South African multinational company has suffered loss in its full-year performance.
There are similarities between the India's startup world with China's startup. It can be seen from the kinds of startups that are developing right now, and also the fund size raised from the investors.
Hong Kong Disneyland reported its first loss since 2012. Fewer tourists had come to visit the resort and theme park, with the biggest decline from Chinese tourists. China’s economic slowdown, along with political instability and the emergence of Shanghai Disneyland is believed to have affected the Chinese tourists.
Along with reporting its fourth quarter performance, France telecommunication company Orange SA also report the acquisition plan. The company needs more weeks to have approval from antitrust authorities.
