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Ford to overhaul Lincoln brand, this time with big bucks DETROIT: Ford Motor Co's new chief executive, Mark Fields, is giving the automaker's long-moribund Lincoln brand what his predecessor Alan Mulally never could: a little love and a lot of cash.Lincoln, a storied Detroit brand which Ford has owned since 1922, has been in a swoon for the past two decades, leaving dealers and customers wondering if Ford management had left the brand for dead.Now, with the renewed backing of Executive Chairman Bill Ford and the company's board, Fields has committed the automaker to a multiyear, multibillion-dollar overhaul of Lincoln that includes a significant investment in a new premium vehicle platform that will underpin several future Lincoln vehicles, four sources told Reuters.Ford could spend $5 billion or more over the next five years to revive Lincoln, revamp its product portfolio and reposition it as a true competitor to such global luxury leaders as Daimler AG's Mercedes-Benz and BMW AG, the ...

Canon raises profit forecast on weak yen TOKYO: Japan's Canon on Monday boosted its full-year profit forecast, saying that a weak yen was offsetting tepid demand for its digital cameras and printers.The firm now expects a net profit of 250 billion yen ($2.3 billion) this year, up from an earlier 240 billion yen forecast, on slightly lower sales of 3.74 trillion yen. Also Monday, Canon booked a 12.3 percent rise in net profit to 186.7 billion in the nine months through September, ...
Panasonic says to transfer Sanyo TV unit in US to Funai Electric TOKYO: Panasonic Corp said it is transferring its Sanyo television unit in the U.S., which supplies sets to Wal-Mart Stores, to Funai Electric Co. of Japan in return for annual royalty payments.The move allows Panasonic to exit an unprofitable business.The transfer of the unit will likely be completed before the end of March, a spokesman for Panasonic said on Sunday, after the Nihon Keizai newspaper reported it would sell the business to Funai Electric.Shedding the ...
Kenya's East African Portland Cement full-year earnings drop NAIROBI: Kenya's East African Portland Cement posted a net loss of 386 million shillings ($4.32 million) for the year ended June 30, saying it had been hurt by price competition, high staff costs and the weakening shilling.A year ago, Kenya's No. 3 cement producer posted a net profit of 1.7 billion shillings The company will not pay a dividend this year, it said in its results, posted late on Friday.Earnings per share tumbled to -4.30 ...
Cost cuts pay off for Volvo with surprise profit rise STOCKHOLM: Global truck maker Volvo posted a surprise rise in core quarterly profit on Friday as deep cost cuts more than made up for lacklustre demand in some major markets, sending its shares up 10 percent. The group, which vies for market leadership with Germany's Daimler and Volkswagen's Scania and MAN brands, said it would take out more costs to boost profitability that has often lagged its rivals."I see this quarter as a small but ...
Tesco sales fell 5.2pc in 12 weeks to Oct 11 LONDON: Sales at troubled British grocer Tesco fell 5.2 percent year-on-year in the 12 weeks to Oct. 11, according to monthly industry data published on Friday. The data from market researcher Nielsen said Tesco's market share was 27.8 percent in the period, down from 29.2 percent in the same period last year. The Nielsen data showed a greater slowdown for Tesco than the 3.6 percent decline reported by Kantar Worldpanel on Tuesday. On Thursday Tesco ...
AstraZeneca cancer drug pipeline gets boost from European green light LONDON: AstraZeneca's cancer drug pipeline received a boost on Friday, as European regulators recommended approval of an experimental medicine against ovarian cancer. The green light from the European Medicines Agency (EMA) for olaparib, or Lynparza, is welcome news since the product hit a road bump in June when a US panel voted against its accelerated approval. AstraZeneca has flagged the medicine as a potential $2 billion-a-year seller. Olaparib blocks an enzyme involved in cell repair ...


Index Closing Chg%
Arrow DJIA 16,974.31 0.18
Arrow Nasdaq 4,549.23 0.33
Arrow S&P 1,982.30 0.14
Arrow FTSE 6,453.87 0.81
Arrow DAX 9,082.81 0.16
Arrow CAC-40 4,110.64 0.05
Arrow Nikkei 15,553.91 1.46
Arrow H.Seng 23,819.87 1.27
Arrow Sensex 27,098.17 0.81

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln