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GM sees $600 million expense due to currency swings in Venezuela

2015-07-01 09:49:37| Automakers - Topix.net

The largest US automaker and the third biggest in the world, General Motors, has recently announced it would incur a pre-tax charge of around $600 million because of currency devaluation in Venezuela. The move shows automakers are once more in jeopardy if they operate in the South American country, with GM's "re-measurement" being for the automotive cost of sales in the troubled economy during the second quarter of the year, according to a company filling with the US Securities Exchange Commission.

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Food Corporation of India stuck with 27 million tonnes of poor wheat

2015-07-01 03:33:37| Agriculture - Topix.net

NEW DELHI: The Food Corporation of India is saddled with 27 million tonnes of wheat. Since 90 per cent of grain procured this year were under relaxed norms, these stocks have a shorter shelf life and must be used in 8 to 10 months.

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U.S. Goes After $300 Million in Alleged Bribes Paid by Russian Telecoms Giants

2015-06-30 17:18:52| Telecom - Topix.net

The U.S. has filed to seize $300 million in alleged bribes that it claims were handed over by two major Russian telecoms firms to a close relative of Uzbek President Islam Karimov in exchange for access to the Uzbek telecoms market, news agency Bloomberg reported Tuesday. The complaint filed by the U.S. Justice Department in a Manhattan federal court on Monday claims that leading Russian mobile phone operator MTS and fellow telecoms major VimpelCom - owned in part by Russian billionaire Mikhail Fridman - bribed a relative of Karimov's, the report said.

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OSI Systems Receives $47 Million in Orders from Middle East Customers for Inspection Systems

2015-06-30 12:31:09| Industrial Newsroom - All News for Today

HAWTHORNE, Calif.  OSI Systems, Inc. (NASDAQ: OSIS) today announced that its Security division, Rapiscan Systems, received orders totaling approximately $47 million from customers in the Middle East to provide Baggage and Parcel Inspection (BPI) and Eagle Cargo and Vehicle Inspection (CVI) systems. OSI Systems...

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OSI Systems Receives $8 Million Order for Patient Monitoring and Telemetry Solutions

2015-06-30 12:31:09| Industrial Newsroom - All News for Today

HAWTHORNE, Calif.  OSI Systems, Inc. (NASDAQ:OSIS), today announced that its Healthcare division, Spacelabs Healthcare, received an approximate $8 million order from a U.S. Government medical center to provide patient monitoring and connectivity solutions including the Xhibit central station, Xprezzon and qube...

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