The Japanese electronics maker Sony reported 7-times growth in profits thanks to cost cuts, the company launched last year, transmit Reuters. The positive financial result of the company jumped to 79.2 billion yen (about $ 871 million) on 10.4 billion yen profit reported for the third quarter of 2009. The revenues of the Japanese have risen to 2.24 trillion. yen and operating profit reached 146.1 billion yen. A year ago the company reported an operating loss of 18 billion yen. Sony revised up its estimates for the full financial year ending March 31. The new company is expected to lose 70 billion by Eni, which is 22% more than the announced forecast losses of 95 billion yen. The company of Sony felt the financial crisis in many of the units, but now everything looks that the bad times are passing and company will start making high profits again.
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The South Korean government has decided to pardons former President of Samsung Lee Kun-hiy, convicted of tax evasion, cited by Air Force, citing the release of the Ministry of Justice of the country. After being pardoned, Lee Kun-hiy will be able to return to work within the International Olympic Committee. South Korea is a candidate to host the winter games in 2018. This is the second pardon for Lee. In 1996 he was convicted of bribing former president Chun To Drag and Roe Tae Woo of two years imprisonment, and in 1997 was pardoned by President Kim Yun Sam. In 2005, even as prosecutors investigate suspicions that Lee and other heads of companies have used company funds to pay presidential candidates. This accusation, however, dropped. Cases in which the president pardons a leader of a large local family business, are common, says BBC. Lee is considered by many to be one of the popular business in the country. Amnesty for his current trade lobbies and sports organizations. So far South Korea has tried twice to host the Winter Olympics, this time to compete with Munich and the French town of Annecy.
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Facebook, the largest in the world, a social networking site, has created a dual shares structures that allow the owners of shares complete control over the company, reports BBC. Several private companies, including Google, have introduced such a structure, before they become public companies. But from Facebook said that so far have no plans to become a public company. The site has more than 300 million users a month and is currently leading in the industry. “We made a double structure, as existing shareholders want to retain voting control over certain issues. So the company will be able to focus in the long run to build a bigger business,” said Facebook spokesman Larry Yu. According to analysts, without the new structure, new shareholders can influence business decisions based on short term, but can not obtain long-term interests. Recalled, though the company is not public, former and current employees sell part of its stake in social network.
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Volkswagen has announced that sales for September, and globally have increased by 11.9% over the same month last up to 615 thousand cars. As best present in the home markets of Germany and China, where in September were first sold more than 1 million cars per month. The company announced that next month plans to hold a meeting of shareholders to seek approval to issue 135 million new preferred shares to the value 10 billion as part of taking over Germany’s group for production of luxury cars, Porsche. Under the deal with Porsche Volkswagen will pay 3.3 billion euros for 42-percent stake in the manufacturer of sports cars.
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The technological giant Cisco announced it would acquire a developer platforms for the transmission of Internet traffic over mobile networks Starent Networks. The price of the transaction is 2.9 billion dollars, it will be implemented in full in cash at a price of $ 35 per share of Starent Networks. Deal with the company’s estimated 20 percent more than the price the shares at the market close yesterday. With the acquisition Starent Networks will participate on the market of telecommunication equipment of the highest class, where various GSM operators things invested heavily to expand capacity of their networks. Cisco estimates of up to 2013 data transmitted by the mobile network will be doubled each year.
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The biggest company in the world of creating and producing of processors Intel has announced that during the third quarter reached profit of 1.9 billion dollars or 33 cents a share. The data are weaker than the same period last year, when the positive financial result was $ 2 billion or 35 cents a share, but exceeded analysts’ forecasts. Experts expect the profit to be 28 cents a share. The company’s revenues fell to 9.4 billion dollars of 10.2 for the corresponding period last year, analysts expect was reduced to the more up to 9 billion USD. On the current quarter from Intel said it expected revenue of 10.1 billion dollars, which is more than the experts, which was 9.5 billion dollars.
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The Japanese company Honda announced before publication in internet, it will shut designed a center in the German city of Offenbach. The decision was taken last month, but the studio will cease to exist by the end of November. Honda design studio in Offenbach is committed to the development of automobiles and motorcycles. It was opened in 1992. and extends on an area of 3 000кв.м. Among the most popular projects at the studio are the concepts Small Hybrid Sports, Neukom and OSM. The latter was represented at the exhibition in London in 2008. As its future remains unclear. Some sources claim that the closure of a design center in Offenbach Honda will not affect operation of other units of the company, development of engines, transmissions and other technologies.
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The Belgian investment holding company RHJ International improve its financial proposal for the purchase of German car manufacturers Opel, owned by General Motors, offering 300 million Euro (about $ 431 million) for 50.1% of the shares of the company, police agency Reuters. The amount is 25 million more than the original price. Thus the Belgian concern hopes to grips with the Canadian Consortium Magna, which is in alliance with the Russian Sberbanka. Representatives of RHJ have confirmed their intentions in writing yesterday, September 1. Moreover, the Belgian candidate who is favored by GM, has requested that only 3.2 billion euros state aid (with EUR 6 million less than the previous application for 3,8 billion euro) and promised to return the state-guaranteed loan in period in 2013 was reduced by one year, states Reuters. Other investment and production plans have not changed RHJ.
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Investment Company Digital Sky Technologies (DST), has 2 percent of eligible shares of the largest social network in the world, Facebook, is prepared to invest 100 million dollars in 1.5% of its ordinary shares. DST has been sent to shareholders on Facebook, including employees, offer to purchase ordinary shares of up to 100 million dollars, revealed to the publication source close to one of the parties in the transaction. Part-owner of DST Yuri Milner confirmed to the “forms” that has made an offer and if the Company purchased shares for the full amount of 100 million dollars will possess about 1.5 percent of ordinary shares in Facebook. Given the previously acquired shares, DST will possess about 3.5 percent of the network. The presence of the bid is confirmed to the newspaper and the representative of Facebook Brandy Barkar.
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The Belgian construction company Besix wants to build the highest skyscraper in the world, announced the Belgian Economic Journal “Tade”. The company will participate in the tender for the construction of the tower “the Royal Tower” in Jeddah, Saudi Arabia. If one day it was built, it will be the first building in the world, 1000 meters high. Under the ambitious project “Royal Tower will offer 23 million square meters different shops, office space and apartments. The building will be located on an area of 530 hectares near the international airport of Jeddah. Stated project cost is estimated at 26.6 billion dollars. Besix works by more than 40 years in the Middle East, it is one of the few companies active in the construction of Skyscrapers and enjoys an excellent reputation. Among its successful performance is the construction of Burj Dubai in Dubai. This is the highest currently building in the world (818 meters) and will be officially opened in December last year.
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