WHAT THE OTHER PAPERS SAY THIS MORNING August 1, 2011 FINANCIAL TIMES FOXCONN LOOKS TO AN AUTOMATED FUTURE WITH 1M ROBOTS BY 2013 Foxconn, the world’s largest contract electronics manufacturer by revenue, plans to have as many robots as workers in its China factories within three years, according to Terry Gou, chairman and chief executive. Foxconn, China’s biggest employer, produced Apple’s iPad and other electronic [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 1, 2011 FINANCIAL TIMES SUPER RICH TO GET NEW LONDON ADDRESS A leading European hedge fund is preparing to build one of London’s most expensive housing developments as global investors scramble to gain a foothold in the capital’s resurgent residential market. In a deal completed over the weekend, Orion Capital Managers acquired an acre of prime residential [...]
Micropayments are misguided July 27, 2011 APPLE has built its iTunes and App Store empire on micropayments, small one-off payments of between a few pence and a few pounds. Now ITV is hoping to emulate that success with its own “pay mechanism”, which will likely charge customers for accessing content online or through a TV on-demand system like Virgin Media. We [...]
Moody’s cuts Nokia’s credit rating two notches July 27, 2011 Troubled mobile phone maker Nokia has had its credit rating cut two notches by rating agency Moody’s as it struggles to match its competitors in the smartphone market Moody’s has re-rated Nokia from A3 to Baa2, the second-lowest investment grade rating, and is keeping its outlook negative, it said. It is the third agency to [...]
Costs hinder Amazon profit July 26, 2011 ONLINE retail outlet Amazon reported a surge in quarterly revenue yesterday, on sales of its Kindle electronic reader and other electronics and forecast far better-than-expected revenue for the current quarter. The firm’s shares shot up six per cent in after-hours US trading. The firm benefited from growth in e-commerce, though margins continued to be pressured [...]
ARM warns of a light Christmas July 26, 2011 ARM Holdings, the Cambridge-based maker of chips that power the Apple iPhone and other smartphones, has reported a 25 per cent profit rise this quarter, but warned it is not counting on a Christmas sales boom. The firm’s technology, used by firms such as Samsung, Qualcomm and Texas Instruments, helped lift pre-tax profit to £54.2m, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 25, 2011 FINANCIAL TIMES HACKING FEARS SPARK TRINITY REVIEW Trinity Mirror, the publisher of the Daily Mirror, has launched a review of its editorial controls and procedures amid investor anxiety that phone-hacking claims could spread beyond the defunct News of the World. Trinity saw its shares fall 9.8 per cent yesterday over concern among investors that the [...]
RIM plunges after it axes 2,000 staff July 25, 2011 SMARTPHONE maker Research In Motion (RIM) plunged more that 4.4 per cent yesterday after it announced it would axe a tenth of its global workforce. The firm, best known for its BlackBerry range, has struggled in the face of soaring demand for Apple’s iPhone and handsets running Google’s Android, especially those made by Samsung. Its [...]
Apple loss bites into Wolfson forecasts July 25, 2011 EDINBURGH-BASED chipmaker Wolfson Microelectronics slashed its sales forecast again yesterday in the face of a tough market for electronics goods that lack an Apple logo. The downgrade, its second in a month, sent shares in the maker of audio processing chips down 10.7 per cent to a 15-month closing low. The company reported second-quarter revenue [...]
Blackberry maker Research in Motion to cut 2,000 jobs July 25, 2011 Blackberry maker Research in Motion is to cut 2,000 jobs from its workforce worldwide and is replacing its chief operating officer as it fights off competition from rivals Google and Apple. The job cuts are equivalent to 11 per cent of the Canadian firm’s workforce and part of a wider cost cutting programme designed to [...]