Japan to Patent Japanese beef
Japan has decided to protect Japanese beef as its intellectual property by patenting the Japanese cow genes and monitoring semen stock distribution with bar-codes. The agriculture ministry says that it found there is no international law to prohibit the stock from flowing out to foreign countries for hybridization and reverse import.
Absa Group Warns of Reduced Earnings
South Africa's largest money lender, Absa Group Ltd announced on Thursday that full-year earnings might be lower than 2005's performance, in spite of reported strong first half-year earnings.
Ford Recalls 1.2 Million Vehicles Over Fire
Ford Motor Co., announced a recall of 1.2 million vehicles including trucks and Sport Utility Vans (SUV) which had the cruise control feature over concerns that they could catch fire.
SA Coal Terminal Expansion Delayed
Delays in expanding Richards Bay Coal Terminal to become the biggest coal exporter worldwide have put South Africa's economy at a loss, Kumba Resources CEO Dr. Con Fauconnier said on Wednesday.
IPTV Set for Explosive Growth
The number of subscribers to Internet-Protocol based television (IPTV) is expected to soar by 2010, according to one market research firm.
Royal Philips Sells Chip Unit for $4.4 Billion
Royal Philips Electronics announced today that it would sell its majority stake in its semi-conductor division to a private equity consortium.
Microsoft Social Networking off to Rocky Start
Microsoft blogging and social networking service, Windows Live Spaces, was beset with technical problems immediately following its launch on Tuesday.
Goodyear 2Q Profit Drops
Goodyear Tire & Rubber Co. released its 2006 second quarter earnings report blaming a drop in net profit on higher raw material cost, weakness in the North American tire market, and a restructuring charge.
Sun to Cut More Jobs
Sun Microsystems issued a memo yesterday to employees, notifying them of nearly 2000 impending job cuts.
Digital camera shipments up: report
U.S. shipments of digital cameras grew 17 percent in the second quarter, fueled by gift-giving for graduating students and Father's Day, with Canon Inc. retaining its No. 1 rank in market share, according to an industry report.
SanDisk and Toshiba to Build Memory Plant
SanDisk Corp. and Toshiba said on Friday that are partnering to build a new flash memory plant in Japan, helping them serve increasing demand and positioning them to compete against larger rivals.
Anglo to return $5 bln after profit jumps
Anglo American Plc, the world's third-largest miner, will hand back an extra $5 billion to investors after meeting forecasts with a 44 percent rise in first-half earnings on Friday, lifting its shares 5 percent.
Zim Central Bank to Remove Three Zeroes from Notes
Zimbabwe's central bank has announced that three zeroes will be removed from every bank note in an attempt to help consumers deal with hyperinflation of almost 1,200 percent.
Services, factory data below expectations
Business activity in the U.S. services sector in July and new orders at U.S. factories in June were surprisingly weak, two reports showed on Thursday, signaling that economic growth was decelerating.
July jobs growth weaker than expected
U.S. employers added a smaller-than-expected 113,000 new jobs in July and the unemployment rate jumped unexpectedly to 4.8 percent, Labor Department data showed on Friday.
Employers add just 113,000 jobs in July
Hiring slowed in July as employers added just 113,000 new jobs, propelling the unemployment rate to a five-month high of 4.8 percent and providing fresh evidence that companies are growing cautious amid high energy prices. Wages grew solidly.
Zim Telecom Growth Slowed by Troubled Economy
Africa's booming telecommunications industry has left Zimbabwe trailing behind, as the declining economy has hindered the country's main operators' ability to expand their networks, said a leading industry official on Wednesday.
Africa Exports to China Grow
Africa's trade with China has grown considerably with exports rising by 72 percent in 2005. The figure surpassed exports to Europe which only amounted to 30 percent, said Standard Chartered Bank on Wednesday.
Nigerian Foreign Minister Resigns, Replaced
Nigerian Foreign Minister Ngozi Okonjo-Iweala has resigned only days after being replaced as head of the country's economic reform team, the government reported on Thursday.
Starbucks Profit Grows in 3Q As Sales Slow
Starbucks today released its fiscal third quarter earnings for 2006, highlighting a higher net profit and more stores opening despite a slow down in store sales.
SA Central Bank Sees Economy Growth, Challenges
South Africa's Reserve Bank Governor, Tito Mboweni, said the country can maintain its growth rate. However he added that price stability would not be without its challenges.
Nortel Quarterly Earnings Rise On Court Victory
Nortel Network Corporation released its second quarter earnings report for 2006, highlighting a net profit thanks to a litigation victory.
IMF Head Says Japan Deflation is Nearly Over
The head of the International Monetary Fund Rodrigo de Rato said Thursday that deflation has, by most measures, ended in Japan and that with more economic reform efforts, Japan will overcome significant challenges to come.
Wall Street: Semiconductor Sales up 9% 'unimpressive'
The Semiconductor Industry Association (SIA) reported on Thursday the worldwide sales of semiconductors are up to $19.6 billion in June, up over 9% from June 2005, however Wall Street analysts remain unimpressed.
Sprint Nextel Profit Up, But Misses Expectations
Sprint Nextel, a global communication services company, announced a lower than expected net profit for the second quarter of 2006.
Report: Google Commands 60 percent of U.S. Search Volume
Google, the internet search company, has taken over 60 percent of all U.S. search volume for the first time this July, according to one research firm.
AOL to Slash 5,000 Jobs
AOL, the online division of AOL, said on Thursday that it will cut nearly 5000 jobs over the course of the next six months in efforts to restructure.
Kawasaki to Stop Airbus Parts Production
Kawasaki Heavy Industries Ltd. said on Thursday it will end its 15-year- old contract with Airbus to supply body panels for A321 aircraft at the end of March.
U.S. Calls on Japan to Remove Beef Import Limits
U.S. Agriculture Secretary Mike Johanns on Wednesday expressed Washington's intention to press Japan to start importing U.S. beef from cows older than 30 months.
World Bank President Sees Hope for Africa
World Bank President Paul Wolfowitz is optimistic for the future of economic opportunities in Africa after returning from an eight-country trip through the continent.
