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Business - Ford to spend $2.5 billion on plants in Mexico, angering UAW


Ford Motor Co said on Friday it will spend $2.5 billion to build a new generation of fuel-efficient engines and transmissions in Mexico, creating 3,800 jobs. The United Auto Workers union, in response, said putting jobs in Mexico rather than the United States will be a major issue at its upcoming U.S. labor talks with Ford, General Motors Co and Fiat Chrysler Automobiles. The UAW president, Dennis Williams, said Ford`s announcement is `disappointing, but not any more disappointing than GM`s decision to invest $5 billion in Mexico, or those made by all six of the top-selling automakers in the U.S. market. The companies are drawn to Mexico for its proximity to the lucrative U.S. market as well as lower worker pay than at U.S. plants.


Friday, April 17, 2015  23:41

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Business - Grilled: Lexus seeks design edge over premium rivals


By Norihiko Shirouzu BEIJING (Reuters) - Big may be beautiful, but Toyota Motor Corp`s global design chief is betting that edgy is the way to go for the Japanese automaker`s premium Lexus brand, specifically its signature `spindle grille` design. Tokuo Fukuichi, who is also Lexus` global chief, says the design shock-therapy gives the brand - and conservative Toyota more broadly - the stand-out face it previously lacked. While some industry rivals and design experts say the jagged-edged, trapezoid grille is downright ugly, 63-year-old Fukuichi stands by the drastic makeover, saying it will give Lexus a `unique` edge over German rivals BMW , Audi and Mercedes-Benz particularly in competitive emerging markets such as China, where buyers will pay more for a car that stands out from the crowd. Fukuichi, who was brought back to Toyota from a subsidiary in 2011 and as he was recovering from cancer, says Toyota for too long designed cars by committee often of several dozen people.


Saturday, April 18, 2015  07:43

Yahoo

World - Global finance leaders see economy strengthening


WASHINGTON (AP) Financial officials from the world`s major economies on Friday welcomed modest improvements in the global economy while side-stepping fears rattling global financial markets that Greece will default on its bailout loans.


Saturday, April 18, 2015  00:52

Yahoo

Business - MakerBot lays off one-fifth of its workforce


MakerBot is perhaps the most well-known consumer 3D printer on the market, having sold tens of thousands of Replicators since its start in 2009. It`s a large part of why Stratasys, an industrial 3D printer ...


Friday, April 17, 2015  23:41

Yahoo

Business - Do not take market-based views at face value: San Francisco Fed


Federal Reserve policymakers should not read too much into financial market prices to glean the views of investors on interest rates or inflation because prices are hard to decipher, according to research released Monday by the San Francisco Fed. `Fluctuations in risk and liquidity premiums and in other market forces complicate how market-based expectations are interpreted and used by policymakers including central bankers,` wrote Michael Bauer and Glenn Rudebusch, top researchers at the regional bank. As U.S. central bankers contemplate raising interest rates for the first time since 2006, some policymakers have cited falling measures of inflation in the market as a reason to be cautious about tightening policy. Indeed, with some market measures suggesting traders see inflation five to 10 years from now at well below the Fed`s 2 percent target, `a strict market-based approach to making policy would argue that the Fed should take immediate action toward more accommodative policy,` they wrote.


Monday, April 13, 2015  18:53

Yahoo

Business - Exclusive: Six percent of U.S. adults plan to buy Apple Watch - Reuters/Ipsos poll


About 6 percent of U.S. adults plan to buy Apple Inc`s smartwatch according to a Reuters/Ipsos poll, with men twice as likely as women to purchase Apple boss Tim Cook`s first new major product. The poll showed the watch, marketed by Apple as a high-fashion item as well as a new frontier in technology, appealed to fewer than 4 percent of women compared with 9 percent of men. Van Baker, an analyst at tech research firm Gartner, said the Reuters poll results indicated a `pretty high percentage` was interested in buying. `It should serve Apple well if they can even get close to that,` he said.


Wednesday, April 15, 2015  19:33

Yahoo

Business - Investors look to earnings for market direction


Investors attempting to determine whether U.S. equities will rebound from Friday`s selloff or continue to sink will look to a deluge of earnings next week for a clearer picture of the economy. Equities lost ground after industrials Honeywell International and General Electric took hits from the strong dollar, while concerns over new trading regulations in China and Greece`s place in the euro zone dented sentiment. Investors have grown concerned about the impact of a strong dollar on quarterly results, even as they remain leery of missing out on any rally. `Our markets will get kind of quiet again as we wait for some of those earnings and what is going to happen on the 24th with Greece,` said Keith Bliss, senior vice-president at Cuttone & Co in New York.


Saturday, April 18, 2015  00:17

Yahoo

Business - Nokia buys Alcatel to take on Ericsson in telecom equipment


By Jussi Rosendahl and Leila Abboud HELSINKI/PARIS (Reuters) - Nokia is to buy Alcatel-Lucent in an all-share deal that values its smaller French rival at 15.6 billion euros ($16.6 billion), building up its telecom equipment business to compete with market leader Ericsson. With about 114,000 employees and sales of around 26 billion euros, the combined company will rank a strong second in mobile equipment, with global market share of 35 percent, behind Ericsson at 40 percent and ahead of Huawei`s 20 percent, according to Bernstein Research. The new Nokia will have stronger exposure to the important North American market, with major AT&T and Verizon contracts. It will also fill gaps in its product portfolio with Alcatel-Lucent`s technology in optical transmission and Internet routers, which help telecom operators handle the ever-increasing volume of data brought on by users surfing the web on their smartphones and watching Netflix at home.


Wednesday, April 15, 2015  21:38

Yahoo

World - Global sports gambling worth `up to $3 trillion`


The global sports betting market is worth up to $3-trillion, the vast majority of that generated by illegal gambling, a United Nations conference on crime being held in Doha heard on Wednesday. Patrick Jay, a British-based independent betting expert, said around 65 per cent of that global figure was spent on football betting, with the Asian market the centre of sports gambling. Tennis and cricket account for a further 12 per cent each of that $3-trillion, said Jay who was speaking at a session on match-fixing in sport at the week-long UN Congress on Crime Prevention and Criminal Justice, currently being held in Doha. Jay told the conference session that a conservative estimate was that the betting market was worth around one trillion.


Wednesday, April 15, 2015  19:15

Yahoo

Business - Yum`s upmarket China diner seeks recipe for revival


Dimmed lights and colonial-style balconies give little indication that trendy Shanghai eatery Atto Primo is part of global fast-food giant Yum Brands Inc , owner of the KFC and Pizza Hut brands. Overlooking Shanghai`s iconic riverside Bund and rubbing shoulders with the city`s most expensive venues, the restaurant is what Yum calls a `lab` where it studies Chinese diners as it looks to bounce back from a lengthy slump in its top market. `A high-end test kitchen will let Yum test the waters with new menus and concepts and get feedback from more sophisticated diners - helpful if you want to go a bit upmarket,` said Ben Cavender, principal at China Market Research Group. Yum`s same-store sales at its nearly 7,000 restaurants in China, the firm`s biggest market for revenue and profit, fell 16 percent in the last quarter of 2014, dragged down by back-to-back food scares, rising local competition and a sense its main KFC brand may have fallen out of touch with China`s consumers.


Monday, April 13, 2015  10:07

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