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Shell confirms 10,000 job cuts
2016-02-04 09:51:44| BBC News | Business | UK Edition
Royal Dutch Shell confirms it will cut 10,000 jobs amid its steepest fall in annual profits for 13 years.
Sharp confirms talks with Foxconn, Innovation Network
2016-02-04 09:11:00| Telecompaper Headlines
(Telecompaper) Sharp has confirmed talks with Hon Hai Precision Industry and Innovation Network Corp of Japan on a possible investment in its LCD panel business. The companies are in negotiations, and Sharp said it aims to pick a definitive partner in around a month. According to the latest media reports, Hon Hai, the owner of Foxconn, has offered the most to Sharp, with a capital injection that would give it around two-thirds of Sharp's shares. However, the Japanese state is pushing its own vehicle, the Innovation Network Corp, which has invested in other Japanese tech companies in an effort to maintain the local industry. The announcement cam alongside Sharp's latest quarterly results, showing revenues down 13.0 percent year-on-year to JPY 663 billion. The net loss for the three months to December doubled to JPY 24.7 billion from JPY 11.9 billion a year ago, and the operating result was a loss of JPY 3.8 billion versus a profit of JPY 22.0 billion a year earlier.
Tags: network
sharp
innovation
talks
Yahoo confirms restructuring plans after Q4 loss
2016-02-03 08:35:00| Telecompaper Headlines
(Telecompaper) Yahoo! announced plans to narrow its focus and work to improve its revenues and profitability, after reporting a net loss for the last quarter of 2015. In 2016, the company will prioritize growing engagement with its user base and simplify its product portfolio to emphasize those products that distinguish the company competitively and drive the most substantial portion of users and revenue. Yahoo will continue to invest in its Mavens strategy (mobile, video, native and social) to grow sales from these areas to USD 1.8 billion this year from USD 1.6 billion in 2016. On the cost side, the company targets reductions in operating expenses of over USD 400 million by the end of 2016. This will include cutting its workforce by roughly 15 percent and closing offices in Dubai, Mexico City, Buenos Aires, Madrid and Milan. The impact on revenue from the product simiplification and office closures is expected to be limited to USD 100 million, while the cost cuts are expected to push EBITDA to an annual run rate of USD 1 billion by the second half of 2016, compared to USD 952 million in 2015. Yahoo! will also look at selling non-strategic assets, which could generate over USD 1 billion in cash, the company said.
Tags: yahoo
plans
loss
restructuring
Dan Loeb Gets His Way as Dow's Liveris Confirms Planned Exit
2016-02-03 08:09:46| Chemicals - Topix.net
Dow Chemical Co. Chief Executive Officer Andrew Liveris will leave the company after the completion of its merger with DuPont Co., marking a victory for activist investor Dan Loeb, who had called for his removal.
Tags: dan
planned
exit
confirms
Zika has been sexually transmitted in Texas, CDC confirms
2016-02-03 06:32:42| Biotech - Topix.net
Zika has been sexually transmitted in Texas, the Centers for Disease Control and Prevention said Tuesday. It is the first known case of the virus being locally acquired in the continental United States in the current outbreak.
Tags: texas
transmitted
sexually
confirms
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