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Last update: Sat, 01 Oct 2016 12pm

Industries & Sectors

Business & Finance - Industries & Sectors

ABB set to clash with shareholder over Power Grids business ZURICH: ABB looks likely to tell investors next week that it wants to hang on to its Power Grids business, putting the Swiss engineering group at odds with some shareholders who want it to be spun off. Activist shareholder Cevian Capital, ABB's second-largest shareholder, has lobbied to separate the business, saying ABB is now too complex and difficult to run. But ABB appears to be leaning towards keeping the business because of the benefits it provides to the group as a whole. "Cevian is pressing hard for the business to be separated and other investors are saying they appreciate companies with a focused portfolio," a source close to the matter said. "But some of the world's most successful companies are conglomerates. "Power Grids doesn't have to be spun off." On Oct. 4, ABB's board is due to reveal plans for the business, which makes components for offshore wind farms and ...

Business & Finance - Industries & Sectors

Nissan to seek Brexit compensation pledge for new UK investment PARIS/LONDON: Nissan wants Britain to pledge compensation for any eventual tax barriers imposed due to Brexit if the Japanese automaker is to make a new investment in the country's biggest car plant, Chief Executive Carlos Ghosn said on Thursday. Nissan, which builds around one in three of all of Britain's total car output at its Sunderland facility, is due to decide early next year on where to build its next Qashqai sport utility vehicle."If I ...

Business & Finance - Industries & Sectors

Renault sees 'stabilisation' of European car market in 2017 PARIS: Renault expects the European car market to grow 5 percent this year before steadying in 2017, an executive at the French car manufacturer said on Thursday. "We should see some kind of stabilisation of the European market in 2017," Thierry Koskas, Renault's executive vice president, sales and marketing, told reporters at the Paris auto show.Koskas also said Renault was anticipating a 15-20 pct sales drop in Brazil and a decline of 12 percent in ...

Business & Finance - Industries & Sectors

Toyota drops diesel from new model, signals likely phase-out PARIS: Toyota has decided to drop diesel engines from its new C-HR compact in the wake of Volkswagen's emissions scandal and will probably do the same for future model renewals, the carmaker's second-ranking global executive said on Thursday. The Japanese automaker decided "within the last six to 12 months" not to offer a diesel version of the car, unveiled at the Paris auto show, because demand for the powertrain technology is falling sharply, Executive Vice ...

Business & Finance - Industries & Sectors

Samsung to resume S. Korea sales of new Note 7 phones SEOUL: Samsung said Thursday it would resume sales of new Galaxy Note 7 smartphones in South Korea this week, hoping to turn the page on the troubled device after an ongoing global recall prompted by battery explosions.The company on September 2 suspended sales of the oversized "phablet" and recalled 2.5 million units shipped worldwide after faulty batteries caused the phones to explode while charging.With the recall underway in 10 nations where the device had been ...

Business & Finance - Industries & Sectors

Samsung says in talks with US watchdog on washing machine safety issues SEOUL: Samsung Electronics, which is already reeling from a global recall of its Note 7 smartphones, said on Thursday it is in talks with a U.S. watchdog to address potential safety problems related to some of its washing machines.The South Korean tech company's comments came as the U.S. Consumer Product Safety Commission (CPSC) warned of problems with some of Samsung's top-load washing machines, following media reports that they had exploded.Certain top-load washing machines made between ...

Business & Finance - Industries & Sectors

Apple teams with Deloitte to push deeper into work SAN FRANCISCO: Apple on Wednesday announced an alliance with professional services group Deloitte to get more businesses using iPhones and iPads as workplace tools.Deloitte is creating an Apple practice with more than 5,000 strategic advisors devoted to helping businesses adopt new work styles using the California technology giant's mobile devices and software, the companies said in a joint release."iPhone and iPad are transforming how people everywhere get work done," said Apple chief executive Tim Cook."Through ...