US Business
Facebook COO Sandberg sells $26.2mln in stock
Washington, Dec 8 : Facebook's COO Sheryl Sandberg has sold shares valued at more than 26.2 million dollars, according to a regulatory filing.
Facebook disclosed in an SEC filing that Sandberg sold more than 946,588 shares at prices ranging from 27.39 to 27.90 dollars, a level that Facebook hasn''t traded at since August.
In fact, Facebook shares have been on a tear in recent weeks, as Wall Street has embraced the company''s we''re-all-about-mobile message and the biggest so-called lockups on insiders selling their pre-IPO shares have passed, CNET reports.
Categories: US Business
US manufacturing sector contracts
Washington, Dec 4 - The US manufacturing sector contracted in November after two consecutive monthly increases, a troubling sign for the economic recovery, a leading industry survey showed.
The US Institute of Supply Management (ISM) said the manufacturing index, also known as the purchasing managers index (PMI), dropped from the estimated 51.7 percent in October to 49.5 percent in November, the lowest level since July 2009, reported Xinhua.
A reading above 50 percent indicates that the manufacturing sector is generally expanding, while a reading below 50 percent indicates contraction.
Categories: US Business
Samsung files patent infringement lawsuit against Apple iPhone 5
Washington, Oct 2 : South Korean mobile maker Samsung is reportedly suing Apple over claims that the newly released iPhone 5 infringed on its patents.
Samsung filed the lawsuit in a U. S. court on Tuesday.
“We have little choice, but to take the steps necessary to protect our innovations and intellectual property rights,” the firm said in a statement.
According to Mashable, last month, court documents filed by Samsung revealed the firm’s plans to add the latest iPhone to its existing patent lawsuits against Apple.
Categories: US Business
US manufacturing sector expands
Washington, Oct 2 - The US manufacturing sector resumed expansion in September after three consecutive months of contraction, an industry survey showed Monday.
The US Institute of Supply Management said the purchasing managers index (PMI) rose to 51.5 percent in September, up from 49.6 percent in August, Xinhua reported.
It was the first growth in four months. A reading above 50 percent indicates that the manufacturing sector is expanding. A reading below 50 percent indicates contraction.
New orders, production and employment indexes all rose for the month, but the measurement of production remained below the 50 percent growth threshold.
Categories: US Business
iPhone 5 first weekend sales cross five million
Cupertino, Sep 24 - Apple Monday said it has sold over five million of its new iPhone 5 sets just three days after its launch Sep 21.
Demand for iPhone 5 exceeded the initial supply and while the majority of pre-orders have been shipped to customers, many are scheduled to be shipped in October, the company said in a statement.
iPhone 5 is available in the US, Australia, Canada, France, Germany, Hong Kong, Japan, Singapore and the UK, and will be available in 22 more countries including Austria, Belgium, Czech Republic, Finland, Hungary, Ireland, Italy and Luxembourg on Sep 28 and in more than 100 countries by the end of the year.
Categories: US Business
Indian hotelier Vikram Chatwal taking over NYC hotel
New York, September 21 : The historic Plaza Hotel on Fifth Avenue is close to getting new fashionable partners as Indian hotelier Vikram Chatwal along with designer Tommy Hilfiger and restaurateur Sean Largotta are nearing a deal to take over it.
According to the reports, Chatwal is buying a 30 percent stake in the 105-year-old landmark, and is said to be looking at Hilfiger, who lives in The Plaza with his wife, Dee, and Largotta, to partner him on the new deal, the New York Post reported.
Categories: US Business
Microsoft eyes opportunities in China's push for innovation
San Francisco, Sep 18 - China's efforts to be a global innovation leader offers opportunities to foreign companies like Microsoft, a senior executive of the software giant said.
"We're committed to continue our partnership with China as we look towards the future, which promises a new era of computing and new opportunities to create continued positive growth and change," Craig Mundie, Microsoft's chief research and strategy officer, told Xinhua.
"As the country (China) continues to strengthen its position as a global innovation leader, we believe the future will happen here," he said.
Categories: US Business
US small business owners’ optimism increased in August despite disappointing labour report
Washington, Sept 12 : Small business owners are feeling more optimistic for the first time in months, despite increasing uncertainty about the political environment.
According to the National Federation of Independent Business (NFIB), optimism gained 1.7 points in August to 92.9.
The optimism index managed to grow, despite a disappointing labour report last month. However, the slight increase in optimism is not expected to last, according to William Dunkelberg, NFIB chief economist. "Nothing happened in August to really improve their outlook-economic news was uninspiring and mixed.
Categories: US Business
