Nalco Q2 net up 40% at Rs 224 cr
National Aluminium Company has registered a 40% growth in its net profit at Rs 224.04 crore for the second quarter ended September 30, over the same period previous fiscal.
View full post on All Stories
Emerging Markets Favor Sanofi’s Q3; Raises Full-year View – Update
French healthcare company Sanofi-aventis Thursday reported higher profit for the third quarter, driven by strong sales in emerging markets, despite generic competition to several products, and favorable exchange rate movements. The company also lifted its earnings forecast for fiscal 2010.
View full post on All Stories
Nokia To Cut 1,800 Jobs As It Reports Profit
Helsinki, Finland (AHN) – Finnish mobile phone maker Nokia announced Thursday it will cut 1,800 jobs. The company issued the statement after reporting a net profit of $741 million for the three-month period ending in September, after a loss of close to that amount one year ago.
The company – which is the largest handset maker in the world – said it sold 10 million handsets, an increase of 2 percent from last year.
Stephen Elop, the new boss of the company, said Nokia needed to reevaluate its place in the industry. Elop, formerly with Microsoft, took the reins of the company last month. He is the first non-Finn head of Nokia.
Nokia warned its market share would shrink. The company is facing stiff competition from Apple’s iPhone and phones with the Google Android operating system.
View full post on Economy, Business And Finance Stories
A billion reasons to read about Intel, Apple, Facebook and other tech companies
Apple has become the second most valuable U.S. company based on a market capitalization of around $290 billion and a stellar fiscal fourth quarter in which it posted $4.3 billion in earnings and $20.3 billion in revenue.
View full post on All Stories
Apple Smashes Sales Records, but Margins Marred
Apple broke several records in its most recent fiscal quarter, company executives disclosed during their Q4 earnings call on Monday afternoon. “We set new all-time records for Mac, iPhone and iPad sales, and had the highest quarterly revenue and earnings in Apple’s history,” said Peter Oppenheimer, the company’s chief financial officer.
View full post on All Stories
Frozen Vegetables Recalled, May Have Glass Fragments
Bells, TX, United States (AHN) – A frozen food company that sells vegetables Kroger stores in the southeast United States and nationwide in Wal-Mart stores is recalling packages of frozen peas because they could contain glass fragments.
The Pictsweet Company of Bells, Tenn. announced the recall on Friday. No injuries have been reported, but Pictsweet is telling consumers not to eat the following products:
Kroger 12-ounce Green Peas, UPC 11110 89736 product codes 1440BU, 1440BW, and 1600BD; Kroger12-ounce Peas and Carrots, UPC 11110 89741, product codes 1960BD and 1960BE; Great Value 12-ounce Steamable Sweet Peas, UPC 78742 08369, Best Dates of July 20, 2012, July 21, 2012; and Great Value 12-ounce Steamable Mixed Vegetables, UPC 78742 08026, Best Date of July 15, 2012.
Pictsweet is advising consumers to return these products and they will be fully refunded.
Consumers with questions are asked to call the company at 1-800-376-7412, extension 417 from 9 a.m. to 5 p.m. Central Daylight Time, Monday through Friday.
View full post on Economy, Business And Finance Stories
Gap Drops New Logo After Criticisms
San Francisco, CA, United States (AHN) – Gap Inc. has resumed using its iconic logo only a week after launching a new design that customers panned as an “amateur PowerPoint presentation.” The retail giant also faced backlash for seeking designs from the public, an action commercial designers have long opposed.
“We’ve learned just how much energy there is around our brand. All roads were leading us back to the blue box, so we’ve made the decision not to use the new logo,” Marka Hansen, president of Gap North America, said in a statement.
The San Francisco-based company announced a new logo on Oct. 4 that used a Helvetica typeface in plain black and a small blue gradient box at the upper right corner. The redesign was made ahead of a marketing campaign to coincide with the holidays.
Many customers, however, expressed extreme disappointment over the change, and inundated the company’s online pages with comments calling the new logo “cheap” and “uninspired.”
Armin Vit, co-founder of the graphic design enterprise UnderConsideration, blogged, “[Helvetica] has the unique ability to make anything look pedestrian and, in this particular case, it makes Old Navy…. look like a luxury brand by comparison. The shaded square on the corner doesn’t help at all either — I’m not one to critique something by saying it looks as if it were done in Microsoft Word but this one is just too unsophisticated.”
Gap, which owns Banana Republic and Old Navy, had used its classic logo for more than two decades since its founding in 1969.
“We chose this design as it’s more contemporary and current. It honors our heritage through the blue box while still taking it forward,” Hansen explained in a post on Huffington Post.
The company began a crowd sourcing project in response to anger over its new logo, an action that only heightened public mockery and spawned new websites such as gapyourself.com and Twitter pages like twitter.com/gaplogo.
AIGA, the professional association for design, wrote Gap executives about its stance against crowd sourcing.
Association president Debbie Millman commented in an online discussion, “I firmly believe that crowd-sourcing and spec work is about designers giving their work away for free. But it is also about an abuse of power. The ‘client’ has it all. The designer has none. Unless, of course, we say no.”
Mule Design co-founder Mike Monteiro also said in an open letter in response to Gap’s call for suggestions, “Never in my experience has any of your employees offered me a free pair of pants because the ones I was wearing looked bad. I wouldn’t expect them to. Their job is to sell me clothes. My job is to sell design.”
Hansen conceded in her statement this week the company “did not go about this in the right way.”
“We’ve learned a lot in this process,” she added. “We recognize that we missed the opportunity to engage with the online community. This wasn’t the right project at the right time for crowd sourcing. There may be a time to evolve our logo, but if and when that time comes, we’ll handle it in a different way.”
View full post on Economy, Business And Finance Stories
Business Cash Advance is Often Ideal For The Company Searching For Funds
Merchant cash advances are suitable for your company that is having trouble getting financing and requires cash. Whether you are turned down at the bank, for a small company loan, or venture capital, a merchant cash advance is actually an option that may deliver your business the money it wants, rapidly.
A Merchant cash advance is rather easy to acquire, as they don’t have the many pages of documents which a small business loan involves. Due to the fact the merchant cash advance is an advance on bank card sales, the amount of time necessary to get your money is usually less than a week. The funding company will determine your charge card month to month numbers, and will then figure out just what you could possibly qualify for.
The repayment of the money will be carried out by the company, looking for a percentage of your monthly credit sales. Generally, a merchant cash advance is obtained by merchants, dining places, and businesses with decent quantities of bank card sales that do not meet the criteria for small business funding and can be used for:
* Growing your business or even to add more locations
* Enhance your products, satisfy unforeseen bills
There are many merchant cash advance organizations that will provide as much as $475,000. The application process is actually hassle-free with a preliminary app that you’ll fill on the web. Once the firm determines whether or not you are entitled to the funding, a rep will be in touch. At this time, you may be asked for a few items. Due to the fact the organizations take a repayment in a percent of your current credit card sales, it is less nerve-racking for the provider, making sure the advance is paid back regularly.
There is no guarantee that should be put upfront for the merchant cash advance, the only conditions might be to present:
* A FICO of at least 528
* Standard bank statements
* Credit card statements
In the event that you are shopping for a simple way to obtain funds, look in to a merchant cash advance.
Visteon Completes Reorg, Exits Chapter 11 Bankruptcy
Van Buren Township, MI, United States (AHN) – Visteon Corp., a leading global automotive supplier said it has finished its reorganization and exited the U.S. Chapter 11 process.
The company completed all conditions of its plan of reorganization which was confirmed by U.S. Bankruptcy Court on Aug. 31 after overwhelming approval by all creditor and shareholder classes.
Visteon emerged with a stronger balance sheet and about $2.1 billion less consolidated debt than when the company and its certain affiliates voluntarily filed for Chapter 11 in the U.S. on May 28, 2009.
The firm improved its capital and cost structure significantly by reducing consolidated debt from some $2.7 billion at the time of filing to about $600 million now – a level that allows Visteon to be “very competitive” in Tier 1 automotive supplier industry.
“This marks a new beginning for Visteon, an opportunity to truly capitalize on many operational and financial improvements achieved before and during the reorganization process,” said Donald J. Stebbins, chairman, CEO and president.
“I am extremely grateful to our customers, suppliers, secured lenders, bondholders and many others for their support throughout this difficult process,” he added.
The new Visteon is focused on four strong product lines – climate, electronics, interiors and lighting with outstanding global manufacturing and engineering footprint with particular strength in fast-growing markets in Asia, Eastern Europe and Brazil.
“We have an experienced and talented employee base, complemented by strong joint venture partners and strategic alliances that provide a competitive advantage in key automotive markets of the world,” said Stebbins.
Visteon Corp. designs, engineers and manufactures innovative climate, electronic, interior and lighting products for vehicle manufacturers. The company has facilities in 26 countries and employs some 26,000 people. It has corporate offices in Van Buren Township, Mich., U.S.; Shanghai, China; and Chelmsford, UK.
View full post on Economy, Business And Finance Stories
India’s Satyam posts large loss; shares fall
LOS ANGELES (MarketWatch) — Shares of Indian software and outsourcing firm Satyam Computer Services Ltd. fell 5.7% in Thursday morning trade in Mumbai after the company posted a 1.25 billion rupee ($27.8 million) loss for the last fiscal year, in its first financial results since founder Ramalinga Raju revealed massive accounting fraud at the company in January 2009. Revenue for the fiscal year ended March 31 was 54.8 billion rupees, roughly in line with a 54.74 billion rupee forecast from a survey of analysts reported by Dow Jones Newswires. Satyam’s loss for the 2008-09 fiscal year was even wider, at 81.8 billion rupees, but revenue for the earlier year was higher, at 88.1 billion rupees. Satyam is now controlled by former rival software firm Tech Mahindra Ltd., which took a controlling stake in the company following the accounting scandal.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
View full post on All Stories
