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Losses by Samsung and Apple Spell Gains for Huawei

Smartphones have started 2016 rough. The first quarter was the first time in history for the global market of smartphones that a contraction in sales occurred on an annualized basis, said Strategy Analytics an online research firm. That concern was seconded by IDC, which reported 334.9 million mobile handsets had been shipped worldwide during the 2016 first quarter, marking the smallest growth for year over year. The company said that the strong saturation of smartphones in the developed markets, along with a decline of year over year for both Samsung... 
 

Barclays Shares Increase as Turmoil Weathered by Investment Bank

Barclays announced that revenue in its investment bank was down less than had been expected in the turbulent markets and the company avoided new charges of misconduct, helping it investors overlook its larger loss from the sale of unwanted assets. Profit before taxes fell by 25% to just over £793 million equal to $1.15 billion from last year’s £1.06 billion, said the bank, based in London, in a regulatory filing on Wednesday. Revenue was down 13% to just over £4.6 billion, topping estimates of £4.48 billion. Shares climbed at the bank to their... 
 

Mercedes Benz Far From Worried Over China

Economic growth across China might be weaker than any point in the past 7 years, but the appetite in the country for luxury, premium autos is bigger than at any time before. Mercedes Benz, which Daimler owns, just reported a rise of 24% in China’s sales during the first quarter. China became the automaker’s largest single market anywhere after its sales surged by 40%. Over the last two years, a lot of effort by the company has been put into R&D, design and bringing the products that are right to China, and it is now paying off, said a board... 
 

Caterpillar Cuts Forecast As Rally in Commodities Could End

Caterpillar Inc, the major industrial stock that has performed the best in 2016, lowered its sales and profit forecasts as a commodities rally of three months is at risk of losing its momentum. The company, in a prepared statement, said that prices of commodities improved from recent lows, but there remains an excess supply. It is not yet clear that the prices current in the market will be either sustainable or even sufficient to drive more demand for new equipment. Caterpillar CEO Doug Oberhelman is shuttering factories as well as cutting over... 
 

St. Jude Medical Increases Outlook Beats Expectations

On Wednesday, St. Jude Medical increased its forecast for profit for the 2016 full year and released an upbeat view on its quarter, as the business reported that both revenue and earnings that beat expectations. The medical device company based in St. Paul, Minnesota increased its forecast for adjusted earnings for the full year to between $4.01 and $4.11 per share from its range previously released of between $3.95 and $4.05. For the current three-month period, St. Jude said it is expecting earnings to be between $1.05 and $.107 per share, which... 
 

Initiative Backed by Pharma Delivers Treatments at Low Cost

A new program that academia and foundations run with support from the pharmaceutical industry is looking at curing 25,000 patients with Hepatitis C in Southeast Asia and Africa by giving them better and easier access to new treatments. The ministries of Health in Indonesia, Myanmar, Vietnam, Ethiopia, Nigeria and Rwanda have signed up for the easier access to hepatitis C testing followed by treatment with the help of the Quick-Start program that has the goal of curing 25,000 people with the virus over the next two years. This Quick Start plan is... 
 

Mars Food Says To Go Easy on Pasta Sauce

Food company Mars Food is planning to label some of its pasta sauces from Dolmio, macaroni and cheese and other products as being fit for consumption just once per week because of their high levels of fat, salt or sugar. The plan is part of the company’s larger initiative to encourage habits that are healthier. Mars is a privately held food company based in the U.S. The plan comes when large food companies or Big Food, have come under greater pressure from advocates for public health as well as regulators struggling in their battle against the... 
 

Retail Sales Fall Unexpectedly in March As Consumers Save

Sales at retailers across the U.S. fell unexpectedly during March, which has raised concerns that spending by consumers is losing its momentum. The drop of 0.3% in purchases followed February’s little change in figures released by the Commerce Department on Wednesday. The average forecast of economists called for an increase in retail sales of 0.1%. The decrease was driven by the largest drop in demand for vehicles in one year and the cutbacks experienced by clothing stores, restaurants and online businesses. Sustained increases in spending by... 
 

Europe Might Require Visas for Americans and Canadians

Be on the lookout. Americans and Canadians might need a visa on their next business trip or holiday to Europe. The European Union is now considering a requirement that all Americans as well as Canadians apply for a visa, even if they just want to visit for short period. Officials in Europe said they are considering suspending the program of visa waiver for the United States and Canada due to both countries still requiring some of the countries in the EU to apply for visas. While people from the U.S. and Canada only require a passport when visiting... 
 

Reddit Unveils Its iOS and Android App

Reddit launched its premier native app on iOS and Android platforms. The new app is available at this time in the United States, the United Kingdom, Australia and Canada only. However, the company said it is planning to make the apps available for other countries during the next couple of months. Users of Reddit, a discussion forum, have relied on the app Alien Blue for a long time. The app was made by one of Reddit’s fans, Jason Morrissey, to give users the ability to browse the site on tablets and smartphones. The company purchased Alien Blue... 
 

FDA Gives Approval to Knockoff for Rheumatoid

The U.S. Food and Drug Administration has cleared the sale of a knockoff of Remicade the Johnson & Johnson anti-inflammatory drug, the second treatment in the fledgling market in the U.S. for less expensive copies of biotechnology high-priced drugs. The FDA announced this week it had approved Inflectra a drug developed by Celltrion Inc based in South Korea and licensed to Pfizer, for the treatment of inflammatory bowel diseases, rheumatoid arthritis and other types of conditions. Inflectra is what the drug industry and regulators call a biosimilar... 
 

Deal Between Orange and Bouygues Collapses

Ramon Fernandez the CFO of Orange SA took to Twitter after the talks with Orange to acquire the Bouygues SA phone business collapsed. He tweeted that following three months of intense diplomacy the talks had fallen apart. The previous night, after the markets had been closed for the weekend, the two companies called the talks off giving up hope of reaching a deal. Following a weekend where investors became very nervous, the stocks on Monday opened with huge declines. The deal was going to consolidate the phone industry in France. Success prior to... 
 

Huawei Posts Best Growth In Revenue in Seven Years

Huawei Technologies Co based in China posted on Friday its biggest annual growth in revenue since 2008. The smartphone maker was boosted by the adoption in China of 4G mobile technology as well as strong worldwide smartphone sales. Huawei, one of the largest equipment makers for telecom in the world, said its total revenue increased 37% to over 395 billion yuan equal to $61.1 billion during 2015, which was just above its 390 billion yuan forecast. The company, based in Shenzhen, said it is expecting revenue this year to increase to over $75 billion,... 
 

ADB Slashes Growth Forecast for Asia for 2016

The Asian Development Bank has slashed its forecast for economic growth for 2016 in developing Asia, citing a weaker outlook in China and global headwinds. Developing Asia is expected to grow by 5.7% in 2016 and 2007, said the lender based in Manila in its most recent report Asian Development Outlook it released early Wednesday. In its outlook report in December, the ADB forecasted a growth in 2015 across the region of 6%. The region, which includes 45 countries in the Asia Pacific, expanded in 2015 by 5.9%. The growth forecast by ADB in China,... 
 

Google Return to China is Short Lived

Google Search, which in China has been blocked for the past six years, was said to be accessible for a short period on Sunday evening. According to the reports inside China, people living in mainland China succeeded in using Google search for over one hour. However, the shutters were then pulled down again over the giant Internet search behemoth. China has quite a significant censorship mechanism setup, which has been dubbed the Great Firewall or Golden Shield, for blocking all access to many worldwide sites that Chinese authorities have deemed... 
 

FAA: Number of Drones in US To Triple Before 2020

It is estimated that close to 7 million drones will fly in the skies over the United States by 2020. Which will close to triple the number that is expected to be circulating in the air by the end of 2016, said the Federal Aviation Administration on Thursday. Unmanned aircraft systems are going to be the most dramatic growth sector in aviation said the FAA in its report, that forecast some 2.5 million drones would be in use before the end of this year. However, how the market for civilian drones evolves will depend upon the future regulatory and... 
 

Red Hat Profit Rises During Fourth Quarter

Red Hat Inc the maker of Linux software posted an increase in its profit on Tuesday for its fourth quarter as its revenues expanded by 17%. Both revenues and earnings for the three month period topped estimates by Wall Street. Red Hat, based in Raleigh, North Carolina said its profit for the fourth quarter rose to just over $53 million equal to 29 cents per share in comparison $47.7 million equal to 26 cents per share during the same period one year ago. The adjusted earnings during the quarter were up ending the quarter at $97 million equal to... 
 

Elmer Funke Kupper Steps Down from ASX Amidst Probe

Elmer Funke Kupper the Managing Director of ASX Ltd resigned following 4 ½ years leading the company as police continue an investigation into activities of an Australian betting company in Cambodia that he formerly was in control of. Rick Holliday-Smith the Chairman at ASX said the Funke Kupper had wanted to put full focus into the ongoing investigations that could be made. Holliday-Smith will hold the role of executive chairman, while the company searches for a replacement for Funke Kupper. Funke Kupper was the head of Tabcorp Holdings from 2007... 
 

FBI: Vehicles More Vulnerable to Hacking Each Day

The National Highway Traffic Safety Administration and the FBI warned this week that the increasing use of computers in autos pose more risks of cyberattacks. This warning follows a high profile demonstration of eight months ago published by Wired that showed a Jeep Cherokee being controlled remotely on the Internet. Shortly afterwards, Fiat Chrysler recalled over 1.4 million vulnerable vehicles. Manufacturers see excellent promise in making vehicles with network capabilities that are advanced for everything from fleet management to entertainment. However,... 
 

Google Shines Spotlight on HTTPS

HTTPS is considered to be one of the keys to safer travels across the Internet. However, that will be the case only when it is implemented broadly across the web. With a goal of shedding light on the progress made thus far, on Tuesday Google launched a new part of a transparency report that is dedicated to just encryption. Included in that section, is data that highlights the progress in encryption efforts both by Google and popular third party sites. The goal with the project, said Google is to hold themselves accountable and to encourage others... 
 

Microsoft Has Dropped Support for Bitcoin from It Windows Store

Microsoft quietly has stopped its support of bitcoin payments just a year after adding support for the crypto-currency in its Windows Store. Softpedia the software encyclopedia noticed that change the first, which is confirmed through a note to its customers that they could no longer redeem the Bitcoin in a Microsoft account and that existing balances in the account would be available for making purchases from the Microsoft Store but are not refundable. A public statement has to date not been released by Microsoft about this situation or change... 
 

Proposed Rules by FCC Would Limit Data Use by Internet Providers

The U.S. government has proposed new rules for privacy that would make service providers of Internet like phone and cable companies ask users’ permission in certain instances prior to using as well as sharing their data. Using information of customers could help the ISPs make additional money from digital, targeted advertising, when the advertisers are not able to show ads that they believe will appeal to the user’s specific interests. Federal Communications Commission new proposed rules will likely face much criticism and probable lawsuits... 
 

Home Depot To Pay Close to $20 Million for Hack in 2014

The security breach of Home Depot over 18 months ago ended up being a huge embarrassment for the home improvement retailer and is now finally going to bring to a close the matter. The giant in retail do it yourself home improvement said on Tuesday that it has agreed to pay $19.5 million to customers in compensation for being caught up in the hack, where cyber attackers stole information of credit and debit card holders and email addresses for millions of shoppers at the retailer. If the offer by Home Depot is approved by the courts, this settlement... 
 

Ransomware Targeting Apple Products is on the Loose

Researchers discovered what they describe as the first real-world ransomware attack Apple’s Mac. The ransomware is on torrent software, which could put computers at risk if any has been downloaded of late. Experts in computer safety are saying that Mac users are no longer any better off than other PC users. Security researchers discovered what they say is the first ever ransomware attack that targeted users of Apple, that has made it out into the real world and it is bad news for those who like to download, as it is being spread through the torrenting... 
 

Samsonite Acquiring Tumi in $1.8 Million Deal

Samsonite International S.A. announced on Friday it would acquire Tumi Holdings for a per share price of $26.75 in a transaction of all cash that values Tumi at just over $1.8 billion, as the largest luggage group in the world expands into the luxury market. Samsonite, which is listed in Hong Kong, announced that it would be financing its acquisition with loans from banks and the transaction should be closed during the second six months of this year subject to shareholder and regulatory approvals. Investors are applauding this deal, sending shares... 
 

Qualcomm Fined in U.S. Over Corruption Allegation in China

Qualcomm settled charges with the Securities and Exchange Commission in the U.S. that said it had hired relatives of officials in China who then could influence the mobile technology products selection in the competitive market. The investigation by the SEC found as well that Qualcomm had allegedly provided entertainment, travel and gifts in an attempt to influence government officials at the telecom companies owned and operated by the government in China. The SEC said that Qualcomm had misrepresented in its records and books that the things that... 
 

WhatsApp Ends Nokia and Blackberry OS Support

By the end of 2016, the instant messaging app WhatsApp will no longer work on a number of the old or nearly dead operating systems. WhatsApp said it is intending to focus on just 99.5% of the mobile market that is addressable. Therefore, it will drop support for the Blackberry OS, Blackberry 10, Nokia Symbian S60 and Nokia S40. Along with those particular changes, the company added in a post online that it would drop its support for Windows Phone 7.1 and Android 2.1 as well as 2.2. The company added that it was intending to boost its security features... 
 

Halliburton Cuts 5,000 More Jobs

Halliburton will cut 8% of its entire workforce or close to 5,000 jobs announced, the energy company based in Houston on Thursday. The new round of job cuts is to take place around the world over the upcoming weeks. It is the most recent evidence of a crisis confronting the oil industry in the U.S. as the prices of crude have dropped to lows of seven years. The industry has turned downward must faster than any had expected, said Dave Lesar the CEO at Halliburton and Jeff Miller the President in an internal memo to employees. The executives said... 
 

Texas Hospitals Have Developed First Zika Virus Rapid Detection Test

With the spreading of the Zika virus now throughout Latin America, medical researchers ratcheted up their efforts to find a better way of testing for possible infections and as well as a vaccine that could effectively protect people from this dreaded disease. Researchers at Houston Methodist and Texas Children’s hospitals announced they have created the first rapid detection test in the U.S. meant for diagnosing people who are suspected of having the Zika virus. The new procedure for diagnosis is designed to scan the urine, blood, amniotic and... 
 

Huawei Aims Directly At Apple With Launch of Tablet

Huawei the Chinese tech giant unveiled on Sunday its MateBook its first try at a 2-in-1 tablet that looks to challenge Apple, Samsung and Lenovo, as the company looks to other areas to increase growth of its business dedicated to consumer devices. The new MateBook has a detachable keyboard similar to the iPad Pro by Apple and runs on the latest Microsoft Windows 10 operating system. It was launched Sunday in Barcelona at the Mobile World Congress. The device has a display of 12-inches, a front camera of 5-megapixels, storage of 512 gigabytes and... 
 

Facebook Planning to Add Ads to Messenger

A Facebook document that was leaked that had been sent to some of the largest advertisers has revealed that the social media giant will launch advertisements within its Messenger service starting in the second quarter of 2016. The document, which was obtained by a number of tech sites across the Internet but kept private in order to protest the source, says companies can send ads as messages to the people who had previously initiated a chat thread with that particular business. In order to prepare, the leaked document recommends companies get consumers... 
 

Devon Energy Slashes Dividend, Employees and Spending

Devon Energy Corp cut its dividend and its capital spending by 75% Tuesday. The company said it would lay off up to 20% of its current staff as the low prices of oil roil companies in the shale oil business. The company, based in Oklahoma City, is a top independent U.S. oil producer. It said on Tuesday it would lay off 1,000 of its staff and another 600 workers would leave later in the year in divestitures. This move by Devon marks the most recent in a series of announcements made by oil companies in the U.S. responding to the crude prices that... 
 

Japanese Economy Contracts More than Anticipated

The economy in Japan shrank more that was expected during the last quarter of 2015 as spending by consumers and exports slumped, adding to policymaker headaches already  wary from damage the rout in the financial market could inflict upon an already fragile recover. Japan’s gross domestic product shrank by 1.4% on an annualized basis for the period from October through December, bigger than a forecast by the market for a decline of 1.2% and matching a drop in the 2015 second quarter. The previous quarter ended with a revised increase of 1.3%.... 
 

Renault Profit Boost from New Models Despite Write Down in Russia

Renault’s profit for the full year rose nearly 50% during 2015 on the strong sales of its new models, but the carmaker based in France slashed its value of a stake in AvtoVaz the maker of Lada by over 225 million euros amidst a slump in the car market in Russia. Renault share rose 5% initially before giving back most of the gains after Carlos Ghosn the CEO dampened hopes of a structural change to the alliance of Renault-Nissan. A standoff of eight months over the voting right of the French government, which was resolved last December, showed the... 
 

Lower Costs and Higher Tire Volumes Drive Profit at Goodyear

Goodyear Tire & Rubber posted a quarterly profit that was higher than had been expected as sales volumes across the Middle East and Africa as well as Europe recovered following over a year of decline. At the same time, costs of raw materials were less expensive. Shares at the No. 1 tire maker in the U.S. were up by 9% in trading on Tuesday afternoon. Sales volume at Goodyear in its EMEA region was up 11% during its fourth quarter, driven by the strong demand for new tires. The regions represents close to one third of the total revenue of the... 
 

Hasbro Strong Growth Powered by Star Wars

Hasbro Inc reported its largest jump in revenue for the quarter in close to five years, beating estimates of analysts by a large margin, driven by the demand for the toys based on Jurassic World and Star Wars: The Force Awakens movies. Revenue for sales of toys that targeted boys, which includes action figures that are based on the two aforementioned blockbuster films that were leased in 2015, surged by 35% to end the quarter at $569.7 million. Sales industry-wide of the licensed merchandise from Star War totaled close to $700 million across the... 
 
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