Thu, Sep 07, 2017 - Page 10 News List

World Business Quick Take

Agencies

ELECTRONICS

Apple sells more bonds

Apple Inc has sold more bonds to finance its current round of share buybacks and dividends. The iPhone maker offered US$5 billion of debt in four parts after dropping a two-year floating rate component, according to a person with knowledge of the matter. The longest portion of the sale, a 30-year security, will yield 1.1 percentage points above US Treasuries, down from initial talk of about 1.25 percentage points, the person said. The bond sale comes a week before Apple is to announce successors to the iPhone 7 and iPhone 7 Plus at a launch event in California.

ELECTRONICS

Hewlett Packard sales rise

Hewlett Packard Enterprise Co is emerging from an aggressive effort to slim down, reporting stronger-than-projected quarterly sales on healthier demand for servers and storage gear that help run data centers. Revenue rose 2.5 percent to US$8.2 billion in the fiscal third quarter, marking the first time in five quarters the corporate technology company beat analysts’ sales estimates. Adjusted profit was US$0.3 per share, the Palo Alto, California-based company said in a statement on Tuesday. Profit excluding some costs is to be US$0.26 to US$0.3 per share this quarter, the statement said.

TOYMAKERS

Lego to cut workforce

Lego on Tuesday said it would lay off 8 percent of its staff and revamp its business after reporting its first decline in sales in more than a decade. Sales from January to June stood at 14.9 billion krone (US$2.38 billion), down 5 percent from a year earlier. The Danish toymaker said it would cut approximately 1,400 positions — including up to 600 at its headquarter in Billund, Denmark — the majority of them before the end of this year. The company currently employs 18,200 people.

SOFTWARE

Symantec eyes purchases

Symantec Corp, the cybersecurity company that has completed two multibillion-dollar acquisitions over the past 14 months, is open to another large purchase after a period of paying down debt and proving to Wall Street it can meet growth targets, chief executive officer Greg Clark said. “There are things that could absolutely change everything in the industry if they made sense and was good for our equity,” Clark said in an interview last week. “At some point in the future something like that could be helpful.”

AUTOMAKERS

Nissan seeks Leaf boost

Nissan Motor Co, the maker of the Leaf electric vehicle, is aiming to more than double annual deliveries with the revamped model to hit showrooms from next month. Features like autonomous-parking capability and increased driving range should help boost sales of the new model, the first revamp since its introduction seven years ago, according to Daniele Schillaci, executive vice president for global sales and marketing. The company sold 49,000 Leafs last year, about 2,000 units fewer than Tesla Inc’s Model S, data compiled by Bloomberg show.

MANUFACTURING

German orders data decline

German factory orders declined in July over the previous month, dragged down by a fall in domestic demand. The German Federal Statistical Office yesterday said that industrial orders dropped 0.7 percent, according to seasonally adjusted figures. That followed a 0.9 percent rise in June. Domestic orders dropped 1.6 percent, while foreign orders remained flat, it said.

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