9 October, 2014 by The TZ Newswire Staff Comments Off on Family Dollar fourth quarter profit drops, same store sales improve marginally
Family Dollar fourth quarter profit drops, same store sales improve marginally
Discount retailer Family Dollar Stores Inc (FDO.N), which is trying to ward off a hostile bid from rival Dollar General Corp (DG.N), said its fourth-quarter profit slid 66 percent hurt by inventory markdowns, restructuring charges and merger fees. Family Dollar, which has agreed to sell itself to smaller rival Dollar Tree (DLTR.O) for a lower cash-and-stock deal of $8.5 billion, rejected Dollar General’s $9.1 billion all-cash bid saying the offer did not address anti-trust concerns.
9 October, 2014 by The TZ Newswire Staff Comments Off on GM says Sept China auto sales up 15.2 percent year-on-year
GM says Sept China auto sales up 15.2 percent year-on-year
General Motors Co and its Chinese joint ventures sold 319,936 vehicles in China in September, up 15.2 percent from a year earlier, the U.S. automaker said on Friday. That follows a 14.0 percent year-on-year …
9 October, 2014 by The TZ Newswire Staff Comments Off on Ford says new plants, models to boost China sales after September dip
Ford says new plants, models to boost China sales after September dip
Ford Motor Co (F.N) said on Friday it expects to boost sales in China once new assembly facilities come online and new vehicles hit showrooms in coming months, after posting its first dip in China monthly sales this year. “We’re maxed out,” Ford spokeswoman Claire Li said, referring to capacity constraints that are crimping Ford’s sales in the world’s biggest auto market. She said new assembly facilities in Hangzhou and Chongqing would ease supply pressures, without providing specific sales targets for the months ahead.
9 October, 2014 by The TZ Newswire Staff Comments Off on Exclusive: Cadillac’s new boss maps out product blitz by 2020
Exclusive: Cadillac’s new boss maps out product blitz by 2020
DETROIT/PARIS (Reuters) – Cadillac’s new boss plans a blitz of new products by 2020, from a pure battery-electric car to an ultra-luxury sedan, that he hopes will help resurrect General Motors’ (GM.N) struggling premium brand and make it a global powerhouse. Johan de Nysschen, a former Audi and Infiniti executive who joined GM in August, shared with Reuters some key elements of his plan to revive Cadillac, in an interview last week at the Paris auto show.
9 October, 2014 by The TZ Newswire Staff Comments Off on Former Fed Chairman Bernanke takes stand in AIG bailout trial
Former Fed Chairman Bernanke takes stand in AIG bailout trial
Former Federal Reserve Chairman Ben Bernanke took the stand on Thursday to defend the U.S. Bernanke’s comments came in a fourth day of testimony by former top government officials looking to convince a federal judge that the rescue of the insurance company was legal.
9 October, 2014 by The TZ Newswire Staff Comments Off on Symantec to split into security and storage software companies
Symantec to split into security and storage software companies
The move by Symantec, which has fired two CEOs since 2012 as its stock and financial performance lagged many other software makers, follows a trend of companies splitting in an effort to boost their share prices. The deal also reverses its long troubled $13.5 billion acquisition a decade ago of storage software maker Veritas. Slowing PC sales have hurt its security sales, while sluggish demand for its storage and data management software has diminished the value of Veritas, which was seen as a “cash cow” when it was purchased.
9 October, 2014 by The TZ Newswire Staff Comments Off on Tesla unveils all-wheel drive Model S
Tesla unveils all-wheel drive Model S
Tesla Motors Inc unveiled an all-wheel drive Model S on Thursday.