Kraft's Cadbury Factory Closure Under Investigation
The City takeover panel has reported that US firm Kraft is under investigation process by UK regulators into whether it misled Cadbury employees and investors during the battle to take over the confectioner.
The Wall Street Journal posted that Kraft had thought that it could save the Somerdale plant, which Cadbury had planned to close down.
Arrow Energy Receives $3 billion Takeover Bid
Arrow Energy Ltd. on Monday revealed that a company jointly owned by Royal Dutch Shell and PetroChina has sent it a takeover bid worth $3.3 billion Australian dollars ($3 billion).
Shell Energy Holdings Australia Ltd. extended a formal confirmation that it was considering to take over the Australian firm.
UK's Prudential Now Looking to Shore up on Major Cash Call
UK Based insurer Prudential undertook some steps to underpin its record-breaking right issue by putting forward plans for a listing in the Asian market, while launching a round of talks specifically aimed at winning over the investors in Britain who seem to be skeptical of the firms and its plans.
Motorola Backflip now available from AT&T at $99 after rebate
The amazing backward-folding new Motorola smartphone - the Backflip - has hit the market, and is currently available for $99 on the AT&T website, after rebate and the carrier's two-year contact.
The key features of the Android 1.5-based Backflip, which marks AT&T's foray into the Android phones' arena, include a 3.1-inch HVGA touchscreen display; a FULL HTML browser; a 5-megapixel camera with video; Bluetooth
Patent-infringement lawsuits on the increase in smartphone arena
The intensifying competition in the mobile phones arena has resulted in an ever-increasing number of patent lawsuits being filed by rivals - with the most recent one being Apple's lawsuit against the Taiwanese smartphone manufacturer HTC.
Scribblenauts 2 to be released for Nintendo DS this fall
After about a year of releasing its `random vocabulary' game Scribblenauts, Nintendo DS's most notable breakout hits of 2009, Nintendo Power recently revealed that it is working on the game's sequel - Scribblenauts 2 - which will likely be released in fall this year.
GM to Restore Half of the Closed Dealerships
Failing to convince the dealers over the closing of their dealerships, General Motors has decided to restore around 600 of the 1,100 dealerships, which it had earlier scheduled to close.
Immediately after the proclamations made by GM on its move of closing a number of its dealerships by October 2010, the dealers brought out a protest.
The shutting down would have allowed GM to save a sum of $2.5 billion, per year. GM has shared that it will be providing the instructions for the restoration to the 600 of its dealers via letters.
Google’s European sales head says PCs to be “irrelevant” in 3 years; audience “baffled”
A remark that reportedly "baffled" the audience at the Irish technology conference on Wednesday came from none other than Google's European sales head John Herlihy, who said that PCs are on their way to become "irrelevant" in the next three years or so!
District health board reconsiders contract with XT
Stating that patient safety was at risk, a district health board has ditched Telecom's problem-plagued XT mobile network.
Since December, that network has failed four times after operating less than a year.
Hospital is now reconsidering its contract worth $1 million with Telecom and about 49 staff members at Hutt Valley DHB have XT phones.
Bloomberg News: Pfizer to bid for German generic-drug maker Ratiopharm
According to Bloomberg News, citing two unnamed ‘inside’ sources, drug biggie Pfizer is looking to broaden its generic drug business, by making a 3 million Euro ($4.08 billion) offer for the Germany-based generic-drug maker Ratiopharm.
Union Disagrees Over Reynolds’ Bonus
In view of the frequent failures of the XT network, the Shareholder Activist, Bruce Sheppard has expressed a strong disagreement with the $3 million bonus to be bagged by Paul Reynolds, Telecom's CEO.
He has warned to move a motion at the Telecom annual general meeting, in October, to sack the entire board if the bonus amount remains uncut.
Toyota Accused of Withholding Evidence by Former Representative
A Congressional Committee Chairman said in a statement on Friday that “Toyota withheld documents it was legally required to turn over in liability lawsuits the company faced and it paid higher settlements to plaintiffs to avoid revealing information contained in Toyota's secret ‘Books of Knowledge’”.
Bank of Canada Expected To Maintain Target Rates at 0.25%
All 12 primary securities dealers surveyed by Reuters speculate the Bank of Canada to maintain its overnight target rate on Tuesday at 0.25 percent.
Bombardier Enters $3.1B US Airliner Deal
Bombardier Aerospace announced a $3.1 billion US order to sell 40 of its CS300 jet airliners to Republic Airways Holdings, a U. S. operator of 1,600 daily flights under half a dozen different airline names.
Herron Workers Launch a Strike
The National Union of Workers at Sigma's Herron pharmaceutical plant in Brisbane are reported to launch a strike over some redundancy packages dispute.
The staff at the factory has stopped work at the plant on Monday over pay and entitlements.
Also, the Tennyson plant is due to close this year, however, the National Union of Workers (NUW) is worried about the size of employees' payout when it does.
Samsung To Launch Two LED TVs
Samsung has revealed that it is set to launch two LED TVs, just weeks after LG and Panasonic announced that they will include Skype in their new 2010 flat-panel TV offering.
In a joint announcement, Samsung Electronics and Skype said that the upcoming LED 7000 and LED 8000 two TVs that are set to be launched in Australia will include an embedded version of Skype's calling software.
NZ's Seafield to Start Exploration for Gold Across Seabed
A New Zealand based mining company which has claimed that there is over a million dollars of gold waiting to be recovered from the seabed located off the West Coast, is all set to begin the exploration voyage and project on Monday.
Pyne Gould’s Quest for a Banking License
Pyne Gould Corporation, an Investment and Finance Firm, has focused its attention on securing a banking license and looking at acquisition opportunities after achieving a $10.1 million in the half-year.
Outgoing Chairman Sam Maling said the company was on right path since it achieved its predicted profit of $20.9 million for the full year to June 2010.
ANZ Boasts of Rise in Revenue
Australia and New Zealand Banking Group, ANZ, has reported steady growth in earnings as the economy recoups. It is speculated that it may tie up with wealth manager AMP.
ANZ's 16% increase in October-January profit, along with good interest margins and a sharp fall in bad debts, raised the prospects for broker earnings upgrades and drove the stock up 4%.
Nuplex and PGG Wrightson Got Through Rough Time, Now in a Healthier Shape
The two companies, Resin maker Nuplex and rural services company PGG Wrightson had struggled last year during global financial crises.
Both the companies had suffered due to debts, falling sales and falling share prices. But, the companies are now in a much sound shape.
Good News USA
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