Thursday, April 24, 2014

Companies

24
Hyundai Motor, South Korea's No.1 automaker, saw its operating profit increase 3.7 percent in the first quarter year on year due to brisk sales of new models, offsetting a negative effect from the weak Japanese yen trend, a regulatory filing showed Thursday.

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24
US aerospace and defense giant Boeing Co. on Wednesday posted a 14 percent rise in adjusted net profit in the first quarter on continued strong production, and it also lifted its full-year forecast.

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24
A leading photovoltaic (PV) module manufacturer in China will cooperate with a French PV module manufacturer to satisfy the demands of the French national tender program, the company said.

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24
The aircraft manufacturer Airbus on Wednesday announced its project to manufacture aircraft spare parts in Vietnam.

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24
Tesla delivered six electronic vehicles and unveiled its charging station in Shanghai on Wednesday amid a mix of fanfare and complaints over its CEO's first visit to China.

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23
Yum! posts strong revenue growth
Yum! Brands Inc, the parent of KFC and Pizza Hut restaurant chains, achieved revenue of $2.72 billion in the first quarter, an increase of 7.5 percent year-on-year, according to its earnings report released on its website Wednesday (Beijing time).

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23
China Resources appoints former bank executive as new chairman
China Resources (Holdings) Co has appointed a new chairman with immediate effect, replacing Song Lin, who is being investigated by Chinese authorities, the firm said in a statement on Wednesday.

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23
Online fund platform Yu’ebao, launched by Alipay, will only allow transfers to banks that are smaller than 50,000 yuan ($8,015) to be completed within two hours from Thursday.

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23
Smartphone maker Xiaomi Technology Co announced Wednesday a plan of furthering its expansion into 10 other countries in Asia, Europe and South America this year.

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23
British telecoms testing company Spirent Communications Plc reported a rise in quarterly revenue and operating profit as the rollout of 4G networks in China pushed up orders.

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23
Haitong International Securities Group said on Wednesday it planned to issue up to HK$3.2 billion ($413 million) worth of rights shares, raising capital for business development and refinancing.

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23
Mobile telecom equipment maker Ericsson expects recent business wins to lift sales later this year, after missing first-quarter sales and profit forecasts due to continued weak demand in North America and Japan.

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23
China’s Huawei Technologies Co, the world’s No.2 telecoms equipment maker, on Wednesday shrugged off analysts’ concerns that its growth will suffer from media reports alleging the US accessed servers at its Shenzhen headquarters.

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23
Pork giant WH Group slashes Hong Kong IPO by two-thirds
WH Group Ltd, the world’s biggest pork company, has cut its Hong Kong IPO by two-thirds as market volatility and rich valuations turned investors off the deal, a revised term sheet seen by Reuters showed on Wednesday.

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23
The world's largest retailer, Walmart Stores, on Wednesday closed an outlet in Hangzhou, capital of East China's Zhejiang Province, the seventh closure in the Chinese mainland since March.

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23
Japan's Toyota Motor Corp. said Wednesday that its global group sales in fiscal 2013 gained 4.5 percent from the previous year to 10,133,000 units, becoming the first automaker whose annual sales topped 10 million units.

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22
Philips reported a bigger-than-expected fall in quarterly operating profit and warned of a challenging 2014 owing to unfavorable exchange rates and slowing demand for medical equipment in China and Russia.

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22
Tesla delivers first vehicles in China
US luxury electric car maker Tesla Motors Inc Tuesday delivered the first batch of vehicles to its Chinese customers, marking its official entry into the booming automotive market.

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22
Swiss drug maker Novartis announced a multi-billion dollar revamp on Tuesday, swapping assets with GlaxoSmithKline (GSK) and selling its animal health arm in a bid to simplify its business and increase its focus on high-margin cancer medicines.

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22
China’s WH Group, the world’s biggest pork company, is slashing its proposed Hong Kong IPO and delaying pricing of the deal to next week due to lack of demand, Reuters reported on Tuesday, citing sources close to the company.

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