Will Apple go the way of Nokia? An analyst Friday addressed the concern that Apple will lose its dominance of the tech industry like Nokia did a decade ago.
| By: Tae Kim
UPDATE 1-Starwood reaches out to potential bidders -sources July 30- Starwood Hotels& Resorts Worldwide Inc has reached out to potential bidders including InterContinental Hotels Group Plc and Wyndham Worldwide Corp after it decided to explore a sale, according to people familiar with the matter. Intercontinental and Wyndham declined to comment. A tie-up between Intercontinental and Starwood could take the form of...
UPDATE 4-With no sign of oil price rebound, Shell wields axe again *Shell cuts 2015 capex by another $3 bln to $30 bln. LONDON, July 30- Royal Dutch Shell is to axe 6,500 jobs this year and step up spending cuts as it seeks to reassure investors it can withstand an extended period of lower oil prices, even through its planned $70 billion acquisition of BG Group. Like rivals BP, Statoil and Total it announced reductions in capital...
| By: Ron Bousso and Karolin Schaps
UPDATE 2-Shell to axe 6,500 jobs, cut spending to cope with lower oil prices By Ron Bousso and Karolin Schaps. LONDON, July 30- Royal Dutch Shell is to axe 6,500 jobs this year and step up spending cuts to deal with an extended period of lower oil prices which contributed to a 37 percent drop in the oil and gas group's second-quarter profits. The Anglo-Dutch company also said it was planning more asset disposals as it pushes ahead with its...
French, German tank makers sign tie-up agreement PARIS- French and German executives from two of Europe's leading armored vehicle makers signed a long-awaited merger deal Wednesday aimed at creating a new European champion in the $50 billion annual terrestrial defense market. The tie-up between France's state-owned Nexter Systems and privately held German firm KMW was inked in Paris at the Defense...
Source: The Associated Press
| By: By GREG KELLER, Associated Press
UPDATE 2-Higher incentives, strong dollar weigh on MasterCard's revenue July 29- MasterCard Inc, the operator of the world's second largest payment network, reported lower-than-expected quarterly revenue as it offered more rebates and incentives to win deals. MasterCard was also hurt by a strong dollar as markets outside the United States account for nearly 60 percent of its purchase volumes. Mastercard usually pays higher...
| By: Sudarshan Varadhan
UPDATE 1-Bombardier says not in talks with Siemens on rail deal MONTREAL/ FRANKFURT, July 29- Canadian plane and train maker Bombardier Inc denied a report on Wednesday that it is in talks with German engineering group Siemens AG on merging their rail units. The news comes after Siemens earlier this year downplayed the idea that it could combine its rail assets, which include trains, trams and signalling technology, with...
| By: Allison Lampert and Maria Sheahan
US extends JP Morgan bank breach investigation Federal authorities continue their investigation into the suspects of last year's online attack against JPMorgan Chase, The New York Times reports.
Source: The New York Times
| By: Matthew Goldstein