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Domestic Fans May Soon Buy iPad 3G

Apple fans will soon be able to buy its iPad 3G tablets in the domestic market because the United States company has received regulatory approval to sell them, sources said Monday. Apple presently sells the Wi-Fi-only iPad in the domestic market while the 3G-equipped iPad is also ...

Ericsson Net Income up 172 percent in 2010

Global telecom giant Ericsson announced Tuesday that its net income in 2010 reached 11.2 billion kronor (1.7 billion U.S. dollars), up 172 percent from 2009. "Net income increased 172 percent to 11.2 billion kronor, mainly due to improvements in earnings in Sony Ericsson and less ...

2 Telcos Raising Stakes in Each Other

China Unicom and Spain-based Telefonica SA will buy US$500 million worth of shares in each other to boost their stakes and raise cooperation between two telecommunications giants in China and Europe, the companies said Monday. Telefonica agreed to increase its stake in China ...

Huawei Wins Order Protecting Data in Motorola Suit

Huawei Technologies, China's largest telecommunications equipment maker, has won a court order barring Motorola from disclosing any confidential Huawei information to rival Nokia Siemens Networks. Huawei sued to block a proposed Motorola business unit sale to Nokia Siemens ...

Toyota to Recall 245,000 Lexus Models in U.S.

Toyota Motor Sales USA Inc. decided on Tuesday to recall approximately 245,000 Lexus cars from the U.S. market due to technical defects, the latest in quality control woes for the Japanese automaker. The company said in a statement it will use the opportunity to check the ...

U.S. Judge Bars Motorola from Transfer of Huawei Technology

A U.S. judge has dealt a setback to Motorola in a legal dispute with Chinese company Huawei Technologies over Motorola's planned sale of its networks business, The Chicago Tribune reported on Tuesday. Huawei sued on Monday in U.S. District Court for the Northern District of ...

Carrefour, Wal-Mart Fined for Cheating Customers

Some Carrefour and Wal-Mart stores in China will be fined up to 500,000 yuan (75,987 U.S. dollars) for cheating customers, the National Development and Reform Commission (NDRC), China's economic planner and price regulator, said Wednesday. The Carrefour Xinmin store in Changchun ...

Lenovo, NEC in Talks to Combine PC Businesses: Sources

China's Lenovo Group is in talks with Japan's NEC Corp for a joint venture in personal computers, two sources with direct knowledge of the matter said, in a deal that would help them take on larger global rivals. The Nikkei business daily said Lenovo planned to take a controlling ...

Hong Kong Television Magnate Sells TVB

Hong Kong-based Television Broadcasts Ltd (TVB) reveals that media mogul Sir Run Run Shaw has sold his entire 26 percent stake in the region's dominant broadcaster, giving control to an investor group including U.S. private equity firm Providence Equity Partners and local ...

Carrefour, Wal-Mart Fined Over Price Fraud Scandal

Carrefour and Wal-Mart stores in many cities of China have been confirmed to have been involved in price fraud and will be fined up to 500,000 yuan (75,987 U.S. dollars) by National Development and Reform Commission (NDRC), China News Service reported. It is said that the ...

Bad Loans at Commercial Banks Fall in 2010

Chinese banks finished 2010 in a stronger position than they started, chipping away at their bad debt holdings. Data by the China Banking Regulatory Commission show the non-performing loan ratio at Chinese commercial banks averaged 1.14 percent at the end of 2010, down from 1.58 ...

Airbus Delivers Record Number of Corporate Jets in 2010

European planemaker Airbus delivered a record number of 15 corporate jets in 2010, with a total worth of more than 1.5 billion U.S. dollars, the France-based company said Thursday in a statement. The sales list included A318 Elites, Airbus Corporate Jetliners (ACJs) and A320 ...

Nokia's Global Mobile-phone Market Share Drops

Nokia Corp.'s global market share of mobile phones shrank by 4 percent in the 4th quarter of 2010, the world's largest mobile phone maker said Thursday. Nokia said in its 2010 annual report that its global market share shrank from 35 percent a year ago to around 31 percent in the ...

Wal-Mart Apologizes to Customers for Price Cheating

Related: Carrefour China Stores Busted for Overcharging, Refusing to Hike Wages Supermarkets Cheating A "Hidden Rule"? Wal-Mart (China) late Thursday apologized to customers after being blacklisted by Chinese authorities for cheating on prices. The Wal-Mart (China) Investment Co....

5 Carrefour Stores Fined for Overcharging

Related: Carrefour: Refunds for False Prices Long-term Three Carrefour stores in Shanghai and two in southwest China's Yunnan Province were fined 500,000 yuan (75,988 U.S. dollars) each on Saturday for overcharging customers, said local price regulators. The fine is the highest ...

Suzuki Motor to Recall 4,000 Vehicles in China

Suzuki Motor Corp. has decided to recall its Grand Vitara vehicles because of defective generator belts, China's product quality watchdog said on Monday. Suzuki will recall 4,007 vehicles in China beginning February 28, including the TA04V -- 4M, TD04V -- 4M, and TD04V -- 4V, ...

Carrefour: Refunds for False Prices Long-term

Carrefour China promised customers Saturday that it will always refund five times the difference between the advertised price and the one charged at the register, after it was blacklisted by Chinese authorities for deceptive pricing. Chen Bo, spokesperson with Carrefour China, ...

Uncovered Violations at PICC, China Life Hit 3b yuan

People's Insurance of China and China Life Insurance, two of the country's largest insurers, have been found to be involved in "improper and illegal activities" mounting to around 3 billion yuan. The audit authority found illegal sales of insurance policies, improper claim ...

Hair Care Products Maker Fined for Using Banned Chemicals

An east China haircare products company has been fined for using a banned chemical in products bound for the Singapore and Hong Kong markets, China's food and drug watchdog said Tuesday. The Zhangguang 101 Co., Ltd., based in Zhejiang Province, paid 245,040 yuan (37,145 U.S. ...

Baidu to Expand Social-Networking Services

Baidu now says it plans to develop more social-networking services, as it is diversifying from its search-engine business after overcoming a challenge from search giant rival Google. Analysts say the expansion of social-networking services will help the owner of China's biggest ...
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