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Sony (NYSE:SNE) moves to to save about ¥30 billion ($378.6 million) annually by cutting about 10,000 jobs across its worldwide operations. It will cut 2000 jobs at its head office and a plant in central Japan, with another 2000 workers losing their jobs in Europe. The remaining job losses will occur at other plants in the world.
The Softbank - Sprint (NYSE:S) deal could run into extensive scrutiny by regulators on the security front, because Softbank purchases telecom equipment from Chinese firms Huawei Technologies Co. and ZTE Corp., who were recently in the news when a House Intelligence Committee recommended that US companies avoid them on security concerns. However, Softbank president Masayoshi Son said, “I am aware in the U.S., the government is sensitively looking at it, and we understand national security. So if the U.S. government decides, don’t do it, we would comply.”
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Research firm IDC Inc says Apple had a share of only 1.2% in the handset market in India during the June quarter, while archrival Samsung had a share of 51%. A report by WSJ says Apple (NASDAQ:AAPL) is out to correct that by modifying its distribution network for the iPhone in India, and is likely to appoint specialised distribution companies who could bring the phone to India’s interiors including smaller towns.
McDonald’s (NYSE:MCD) third-quarter was marked by sluggish sales worldwide, up only 1.9% year-on-year. Sales in the United States rose 1.2%, Europe was up 1.8% helped by pricing and the Asia Pacific Middle East and Africa region grew a mere 1.4%. The company attributed the slow sales to “challenging conditions.”
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