March, 2017

• 5 March

  China plans to cut 500,000 jobs this year in smokestack sectors

    Bloomberg China will further trim its bloated smokestack industries this year and support other sectors in services or internet-related businesses to create new jobs. The country plans to eliminate another 500,000 jobs in industries with excess capacity, Minister of Human Resources Yin Weimin said at a briefing Wednesday in Beijing. That’s part of an effort to trim 1.8 million ...

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• 5 March

  Indian drugmakers lobby to win Trump over on generic imports

  

    Bloomberg India’s largest pharmaceutical firms are looking to convince US President Donald Trump that his promise to lower drug costs should take priority over his vow to make sure the medicines are made in America. The Indian Pharmaceutical Alliance, an industry group representing 20 of the nation’s largest drugmakers, is recommending India make the case to US lawmakers, regulators ...

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• 5 March

  SUVs grab major share of American auto industry

  

    Bloomberg After the birth of the sport utility vehicle, minivans disappeared from many American driveways. Family sedans appear to be headed down a similar road. Passenger cars were just 37.5 percent of US auto sales during the first two months of the year, according to researcher Autodata Corp. As recently as 2012, coupes, sports cars and sedans like the ...

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• 5 March

  Euro-area manufacturing sector picks up as inflation pressures build

  

    Bloomberg Euro-area manufacturing accelerated for a sixth month in February amid signs that inflation pressures may be starting to build as factories struggle to keep up with demand. A Purchasing Managers’ Index climbed to 55.4, IHS Markit said. The reading compares with a flash estimate of 55.5 and is up from 55.2 in January. Companies raised output charges at ...

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• 5 March

  Foxconn to start work on $9bn TV display plant

    Bloomberg Foxconn Technology Group will begin construction this month on a $9 billion display plant in southern China, as billionaire founder Terry Gou makes a big bet on demand for giant-sized TV screens in healthcare and homes. Gou and the Taiwanese company are looking to capitalize on the technology and branding acquired with the purchase of Sharp Corp. last ...

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• 5 March

  Jesuits nears $124mn deal to sell Kensington plot

    Bloomberg Johnny Sandelson, the property entrepreneur developing a luxury-home project for seniors in London’s Chelsea district, is in talks to buy a 100 million-pound ($124 million) plot of land in Kensington from a Jesuits group, two people familiar with the plan said. Sandelson and a group of South African investors have agreed a deal to buy the 2.7-acre (1.1-hectare) ...

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• 5 March

  Salesforce revenue forecast falls short as cloud rivals gain

  

    Bloomberg Salesforce.com Inc. gave a first-quarter revenue forecast that fell short of analysts’ projections, hampered by rising competition from rival business-software makers with their own cloud products. Revenue in the period ending in April will be $2.34 billion to $2.35 billion, the San Francisco-based company said in a statement. Analysts projected $2.37 billion, according to data compiled by Bloomberg. ...

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• 5 March

  Nintendo aims to chart new territory with Switch

  

    Bloomberg Nintendo Co. is making its biggest bet in years with Switch, a new console aimed at unifying the worlds of mobile and home gaming. To chart new territory with the gadget, the Kyoto-based company handed control of development to a team of three managers more experienced in software rather than hardware. In a departure from previous consoles, Switch ...

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• 5 March

  Sony, Line consider alliance on AI-powered consumer devices

  

    Bloomberg Sony Corp. and Line Corp., Japan’s most popular messaging service, are considering joining forces to develop devices powered by artificial intelligence. The companies are exploring opportunities around digital personal assistant technology to co-create a new communication experience, Sony said in a statement at the Mobile World Congress in Barcelona. Sony unveiled concept earphones powered by Xperia Agent, a ...

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• 5 March

  Huawei, LG vie to fill Samsung void

  

    Bloomberg Huawei Technologies Co. and LG Electronics Inc. are angling to steal the show at this year’s Mobile World Congress, ushering in new smartphones that each hopes will fill a void created by the absence of a new handset from the usually dominant Samsung Electronics Co. A day before the industry’s biggest conference gets going in Barcelona, LG hosted ...

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