Source Match Industrial News
BRUSSELS (Reuters) - European Union antitrust regulators will decide by Aug. 29 whether to clear world No. 2 software maker Oracle Corp's $5.3 billion bid for Micros Systems , the European Commission said on Friday. The deal, Oracle's biggest in five years, is in line with Oracle's strategy to boost its fast-expanding cloud business. Micros makes point-of-sale hardware and software for restaurants and hotels. The Commission can now either clear the deal unconditionally or demand concessions to resolve competition issues. (Reporting by Foo Yun Chee; editing by Robin Emmott)
By Steve Slater LONDON (Reuters) - Royal Bank of Scotland posted a surprise 1 billion pound ($1.7 billion) pretax profit for the second quarter thanks to a turnaround in losses from bad loans, prompting it to release earnings a week early. It sent RBS shares soaring by 14 percent to 376 pence, on course for their biggest one-day gain since April 2009 and boosting chances of the taxpayer recouping what it invested - though maybe not for several more years because the price is still 25 percent below what the state paid. RBS said the profit was mainly because of an economic upturn that allowed it to write back losses that had been booked on bad loans, giving it a net release of 93 million pounds. 'STRONGER BANK' RBS said it was obliged to release headline numbers early because they were far better than market expectations.
McDonald's Holdings Co (Japan) said it halted sales of all products that use chicken meat that originates in China on Friday, switching its sourcing completely to Thailand. McDonald's Japan had already stopped selling items that used meat sourced from Shanghai Husi Food Co, a China-based supplier that had been shut down over food safety concerns. Shanghai Husi had supplied about 20 percent of its Chicken McNuggets. "We made this decision in view of the growing concern over McDonald's chicken products made in China," McDonald's Japan Chief Executive Sarah Casanova said in a statement.
By Kate Holton LONDON (Reuters) - Britain's BSkyB has agreed to pay 4.9 billion pounds ($8.3 billion) in cash to buy Rupert Murdoch's pay-TV assets in Germany and Italy, responding to slowing growth at home by creating a European media powerhouse. BSkyB, in which Murdoch's 21st Century Fox is also the top shareholder, will pay for the deal using cash, debt and a placing of shares that represents around 10 percent of its issued share capital. 21st Century Fox is expected to use the proceeds from its partial exit from Europe to fuel its pursuit in the United States of Time Warner, which recently rejected Fox's initial $80 billion bid. Fox owns 100 percent of Sky Italia, 57 percent of Sky Deutschland and 39 percent of BSkyB.
Vodafone received no relief from tough market conditions in the first quarter, with a slowdown in Spain and South Africa resulting in another heavy drop in its key revenue measure. The world's second-biggest mobile operator said the pace of decline in organic service revenue, which strips out items such as handset sales and currency movements, accelerated to 4.2 percent in the three months to June 30. Chief Executive Vittorio Colao said the year had started in line with the company's expectations and its performance had improved in markets such as Germany. The limited number of analysts who provide forecasts for the first quarter had on average expected group service revenue to decline by 4.2 percent.
By Lisa Twaronite TOKYO (Reuters) - Asian shares pulled back from this week's three-year highs on Friday after a mostly flat day on Wall Street, though a fresh S&P closing record and upbeat U.S. employment data underpinned sentiment. "The German Ifo current assessment index and expectations index are both expected to decline, which could weaken euro/dollar," said Marshall Gittler, global head of FX strategy at IronFX Global. "The Ifo index is in contrast to Thursday's positive PMI figures, perhaps because the Ifo incorporates more recent data on the impact that sanctions on Russia are likely to have on the German economy," Gittler said in a note to clients. MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.3 percent, though still on track for solid weekly gain of more than 1 percent.
CHICAGO (AP) — Fast food workers say they're prepared to escalate their campaign for higher wages and union representation, starting with a national convention in suburban Chicago where more than 1,000 workers are expected to discuss the future of the effort that has spread to dozens of cities in less than two years.
U.S. companies are reporting sluggish financial results in Latin America, showing the risks they face in relying on Brazil and other emerging markets in the region for growth. Companies ranging from Ford Motor Co to 3M Co and Caterpillar Inc reported second quarter earnings that highlighted weakness in their Latin or South American operations. Several companies reported tepid performance in Brazil, the biggest economy in Latin America, where some economists fear the country is on the verge of a recession. "The place where we see a little bit more of a challenge is Latin America," 3M Chief Executive Officer Inge Thulin told analysts on the company's quarterly conference call on Thursday.
By Deepa Seetharaman SAN FRANCISCO (Reuters) - Amazon.com Inc posted a much larger-than-expected loss in the second quarter as it continues its rapid pace of investment in new businesses such as digital content and consumer electronics. Amazon's stock price has dropped 10 percent so far in 2014, with investors leery of betting on its long-term growth at the expense of little to no profit. Amazon is investing heavily in new businesses and hardware products, as it prepares to take on major tech rivals from Apple Inc and Google Inc to Netflix. Chief Financial Officer Tom Szkutak said Amazon had a "tremendous amount of opportunities" and its investments were "certainly impacting short-term results." The company is spending more than $100 million on original video content in the third quarter, a substantial increase compared to last year and the second quarter, Szkutak said.
By Kazunori Takada SHANGHAI (Reuters) - Shanghai Husi Food, the U.S.-owned Chinese food supplier at the center of a meat safety scandal, won a court case earlier this year against a former quality control officer whose claims included that he was made to forge meat production dates. Wang Donglai, who worked at Shanghai Husi Food from 2007 to 2013, sought around 38,000 yuan ($6,100) in compensation for damage to his health from exposure to chlorine used as a cleaning agent by the meat processor. He also sought to terminate his contract at Shanghai Husi, claiming he was forced to work overtime and made to do "unethical work" that violated food safety laws, court documents showed. At his hearing last October, Wang said he was unwilling to illegally forge dates at the plant, adding that he repeatedly urged his employer to change a practice which he said violated food safety laws and hurt consumer interests, according to court documents seen by Reuters.
By Daniel Bases NEW YORK (Reuters) - Less than a week before Argentina could default on its sovereign bonds, the government and holdout creditors have yet to meet face-to-face despite an urgent plea from the U.S. court-appointed mediator on Thursday that they start direct talks. The time for the Republic to avoid default (July 30) is short," mediator Daniel Pollack said in a statement following three hours of shuttle diplomacy. "After speaking with both sides, separately, I proposed and urged direct, face-to-face talks between the parties. The representatives of the bondholders were agreeable to direct talks. The representatives of the Republic declined to engage in direct talks," Pollack said.
WASHINGTON (AP) — Nearly 300 passengers perish when their plane is shot out of the sky. Airlines suspend flights to Israel's largest airport after rocket attacks. Two airliners crash during storms. Aviation has suffered one of its worst weeks in memory, a cluster of disasters spanning three continents.
Christopher Scoufaras is a zookeeper at the Wildlife Conservation Society (WCS)'s Queens Zoo. Growing up, I regularly visited the WCS's Bronx Zoo and New York Aquarium and knew from a young age that I was interested in working with animals. I studied animal biotechnology and conservation at Delaware Valley College in Pennsylvania, but I was on track to being a zookeeper even before that — as a student at John Bowne High School in Queens.
The computing technology of the average cell phone far exceeds the combined computing power of the two spacecraft that got humans to the moon and home safely. The lunar module, for example, flew only twice with astronauts inside before Apollo 11. There were several modes of transportation that NASA could have chosen to take to the moon. For example, engineers could have launched two big rockets and then docked the various spacecraft and components in Earth orbit.
Satellite images captured the smoldering wreckage of Malaysian Airlines Flight MH17 that was shot down by a missile on July 17 in eastern Ukraine. The bird's-eye view of the site was imaged by DigitalGlobe, a company based in Colorado that programmed three of its five satellites to track the area after reports of the plane crash came flooding in. [See the top images from the DigitalGlobe contest in 2013] The plane was shot down amid the ongoing Ukraine-Russia conflict by a surface-to-air missile fired from an area in Ukraine controlled by pro-Russian separatists. The attack on the plane has brought global attention to the war in Ukraine.
By Irene Klotz CAPE CANAVERAL Fla. (Reuters) - In what may be the ultimate in long-distance telephone service, NASA on Wednesday put out a call for a commercially owned and operated satellite network on Mars. The robotic probes, however, are useless if they cannot relay their results, and the two communication satellites currently in orbit are getting old. Mars Reconnaissance Orbiter followed in 2005. The aging of NASA’s Mars communications system comes as the United States, Europe, Russia and India mount a fresh wave of science campaigns, including two atmospheric probes slated to arrive at Mars in September and two life-hunting rovers due to launch in 2018 and 2020.
The Landsat 1 satellite, a joint project of NASA and the U.S. Geological Survey, flew into orbit on July 23, 1972, from Vandenberg Air Force Base in California. The camera was designed to be the primary observation instrument, according to NASA, but scientists soon discovered that the scanner was sending back far better data. In 1976, scientists combing through Landsat images found a tiny scrap of land never seen before. To verify the island's existence, Canadian Hydrographic Service hydrologist Frank Hall took a helicopter to the island.