Sun, Aug 31, 2014 - Page 15 News List

World Business Quick Take

Agencies

INVESTMENT

Tesla sees record high

Tesla Motors Inc shares rose to a record high after the electric-car maker led by Elon Musk reached an agreement to create a vehicle-charging network in China with the country’s second-largest mobile-phone company. The shares advanced 2.2 percent to US$269.70 in New York, the highest closing price since the Palo Alto, California-based company’s June 2010 initial public offering. The stock has traded at or near all-time highs through most of this month. The automaker, which began selling its Model S sedan in China in April, signed an accord yesterday with China United Network Communications Ltd (中國聯通) to build 400 charging points in 120 cities at China United’s outlets, Tesla spokeswoman Peggy Yang (楊淑婷) said in a telephone interview.

TECHNOLOGY

Rovio CEO to step down

Rovio, the Finnish gaming company behind the popular Angry Birds franchise, said on Friday that chief executive officer Mikael Hed would step down by the end of the year as the company struggles financially. Rovio has struggled recently after quickly rising to prominence in 2009 when Angry Birds became a global phenomenon. The company has failed to respond to more recent trends in gaming, and the announcement highlighted once again the precarious situation of many mobile gaming companies, whose fortunes often rely on a single franchise or technology.

TECHNOLOGY

Tablet sales disappoint

Tablets are not set to eclipse PCs as fast as once thought, according to studies by market tracker International Data Corp (IDC). On Friday IDC cut its forecast for shipments of tablets and “two-in-one” devices combining tablet and laptop features to 233.1 million, saying growth would be about half of what was originally predicted. Meanwhile, the outlook for PC shipments was less poor than originally envisioned, due in part to businesses replacing machines powered by outdated Windows XP software. IDC forecast that worldwide PC shipments would fall by 3.7 percent this year instead of by 6 percent as it had predicted earlier.

UNITED KINGDOM

Bankers’ bonuses rise

Bonuses for British bankers and insurance workers rose at double the pace of those for the total workforce last year, despite politicians’ and regulators’ attempts to clamp down on bumper payouts at financial firms. Employees in the finance and insurance industry were on average paid a bonus of £13,300 (US$22,100) in the year to April, up 5.5 percent on a year earlier, according to data released by the UK’s Office of National Statistics on Friday. Across the whole of the British workforce, the average bonus per employee was just over £1,500, 2.6 percent higher than the previous year. Mining and quarrying workers were paid the second-highest average bonuses of £7,000. Employees in education, health and social work fared the worst, with negligible bonuses per head figures, the office said. A total of £40.5 billion was paid out in bonuses to British workers in the 12 months to April, almost 5 percent more than in the previous year. Bonuses made up 6 percent of total pay across the whole economy, the highest percentage since before 2008 and the economic downturn, when bonuses accounted for 7.1 percent.

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