08252016Thu
Last update: Thu, 25 Aug 2016 04am

Industries & Sectors

Business & Finance - Industries & Sectors

GE's $250mn Doosan deal will boost revenue NEW YORK: General Electric Co's recent purchase of part of Doosan Engineering & Construction Co Ltd of Korea will sharply boost the US manufacturer's revenues from energy assets acquired last year from France's Alstom SA, a senior GE executive said on Tuesday. GE's purchase of Doosan's heat recovery steam generator (HRSG) unit for $250 million provides critical engineering and manufacturing capacity that GE needs as sales increase in the businesses it acquired from Alstom, Joe Mastrangelo, Chief Executive Officer of GE's gas power systems business, said in an interview. New equipment orders in GE's power division, excluding Alstom, fell 11 percent in the second quarter. But since the Alstom deal closed last November, GE has added 30 orders for heat recovery steam generators to its backlog, Mastrangelo said, noting that the company typically sold 14 per year before the acquisition. GE acquired the Alstom energy business for $9.5 billion last ...

Business & Finance - Industries & Sectors

Apple to increase investment in increasingly tough China BEIJING: Apple Inc will boost its investment in China, one of its most important but increasingly difficult markets, and build its first Asia-Pacific research and development centre in the country, Chief Executive Tim Cook said on Tuesday.Demand for Apple's phones has plummeted in China, and the government maintains a wary attitude towards foreign technology. This is at least the CEO's second trip to the country in four months.Apple's new research and development centre will be ...

Business & Finance - Industries & Sectors

Apple to increase investment in increasingly tough China BEIJING: Apple Inc will boost its investment in China, one of its most important but increasingly difficult markets, and build its first Asia-Pacific research and development centre in the country, Chief Executive Tim Cook said on Tuesday.Demand for Apple's phones has plummeted in China, and the government maintains a wary attitude towards foreign technology. This is at least the CEO's second trip to the country in four months.Apple's new research and development centre will be ...

Business & Finance - Industries & Sectors

Software maverick McAfee warns China of hacking weakness BEIJING: China leads the world in connecting everyday devices to the internet, but is creating huge hacking vulnerabilities for itself and others by doing so, renegade American software pioneer John McAfee warned Tuesday.Hackers had already been able to gain control of devices such as safes and heating controls, and take over the computer systems of automobiles and aeroplanes, he said."China is taking the lead in putting intelligence into devices, from refrigerators to smart thermostats, and ...

Business & Finance - Industries & Sectors

Google launches Duo to take-on FaceTime, Skype and Messenger As video calling is the latest way to communicate, one can expect the tech giant Google to take on a lead in this medium as well, as it released its video chat app called ‘Google Duo.’The newly released app is simply made for one purpose i.e. video calling, available on both iOS and Android, you will not find any features of video filters, group chats, texting, or GIFs on it. Going in line with Google ...

Business & Finance - Industries & Sectors

Samsung Electronics says bought cloud service firm Joyent for $170mn SEOUL: South Korea's Samsung Electronics Co Ltd, the world's biggest smartphone maker, said on Tuesday it bought US cloud services firm Joyent Inc in June for 185.3 billion won ($170 million). Samsung disclosed the acquisition price in a regulatory filing for its first-half business results. The tech giant announced the acquisition in June but did not disclose the financial terms at the time.Copyright Reuters, 2016 ...

Business & Finance - Industries & Sectors

Bayer could launch hostile bid for Monsanto FRANKFURT: German chemicals giant Bayer may launch a hostile takeover bid for US seed and pesticide maker Monsanto if its latest friendly offer falls through, business daily Handelsblatt reported on Tuesday.Monsanto has already rejected two offers from the German firm, calling an increased $125-per-share bid in July "financially inadequate" while keeping the door open to further discussions."Bayer is prepared to turn directly to the shareholders" to secure a deal if Monsanto management insists on a ...