Latest RIM acquisition targets mobile app stores

The Canadian maker of the BlackBerry smartphone, Research In Motion Limited (RIM), has confirmed it’s latest acquisition, this time the company cellmania, which develops mobile application store infrastructure.

It is widely believed RIM made the acquisition as the company pushes to make its platform more attractive to the consumer segment by making available more comprehensive and diverse applications for its BlackBerry smartphone.

Cellmania offers a broad range of features for its app store platform, including the ability to fully manage billings, push downloads and media over-the-air, digital rights management (DRM), and other content management features and reports.

Read the full story


FedEx stock surges as full year forecasted earnings upped

The second-top parcel delivery company in the world, FedEx, today upped earnings projections for the current fiscal quarter and for full year earnings.

The company’s Chief Financial Officer (CFO), Alan Graf, made the announcement early today in a written statement.

Mr. Graf said the increase in earnings projections were a direct result of better-than-anticipated volume growth with Express and Ground shipments.

Read the full story


Michael Dell pays $4mn SEC fine following disclosure probe

According to new SEC published report, the computer giant Dell Inc. has agreed to pay a $100-million fine to the commission following five years of litigation relating to a fraud case involving the company and its top executives.

The SEC alleged the company failed to disclose its relationship with Intel Corporation, who was providing huge payments to Dell in exchange for exclusively using Intel microprocessors in Dell products.

The issue was that the payments that were made by Intel were material over several fiscal quarters hence distorted true operational earnings that ultimately mislead investors into believing that the company was more profitable than it really was.

Read the full story


Nokia optimistic as second quarter profits down 31-percent

The top mobile phone maker by volume in the world, Nokia, today released earnings for the second quarter of 2010.

The company reported a massive operating loss of EUR 295-million, marking a significant 31-percent increase in operating losses compared to the same period last year.

Nokia is still shipping the most volume when it comes to mobile phones in the world, posting net sales of EUR 10-billion (shipping 111.1-million units in the period), up 1-percent YoY, but the company is suffering from slumping profits because it is selling fewer smartphones that normally carry higher margins.

Read the full story


Citigroup delivers strong second quarter earnings, misses expectations

The New York City-based financial intermediary, Citigroup, today announced earnings for the second quarter of 2010.

The bank reported total revenue of $22.1-billion, and a strong $2.7-billion ($0.09 per share) net profit for the period, marking the second straight quarter of consecutive growth.

Net earnings topped The Street’s expectations, but the Citigroup stock (NYSE:C) is trading more than 3.70-percent down to about $4 per share as actual revenue missed expectations.

Read the full story


Investors bullish on RIM with new initiatives in China

The Research In Motion stock (TSE:RIM) is surging in past mid-day trading as the company confirmed today it would launch a new BlackBerry application store in China.

BlackBerry smartphones already available in China through China Telecom, but the application store comes as the company tries to make its devices more consumer friendly as competing products such as the iPhone from Apple become more enterprise capable.

Read the full story


CGI to power The Beer Store IT infrastructure with new seven year contract

The Toronto-based IT provider, CGI, has won a new multi-year contract to provide IT services to The Beer Store in Ontario.

The Beer Store distributes and sells beer in the province, and is operated by the government.

The Beer Store has an 85-percent market share in Ontario, and distributes beer to more than 16,000 bars and restaurants in Ontario, and also services 604 LCBO stores in the province.

Read the full story


Nokia sells modem business unit to Renesas for $200mn

One of the top five semiconductor makers in the world, Japan-based Renesas Electronics Corp., has entered into a definitive agreement with the Finnish phone maker, Nokia, to acquire part of the firms mobile operations.

The deal worth $200-million, will give Renesas exclusive ownership over previously held Nokia assets, including various GSM patents, and will see the acquisition of Nokia’s modem business unit.

Additionally as part of the deal, the company will also acquire a part of Nokia’s research and development division, which will consist of about 1,100 Nokia professionals who work mainly in Finland and India.

Read the full story


IBM acquires BigFix IT security firm for undisclosed sum

ibm-logoIBM has announced it has entered into a definitive agreement to acquire the California-based IT security software firm BigFix, with the details of the acquisition largely being kept private.

BigFix Inc. develops security and compliance software that companies implement in order to oversee and monitor computer networks, and to create policies for various machines to follow.

With infrastructure powered by BigFix, firms can implement numerous complex IT policies across hundreds of thousands of machines globally, including various administrative and control privileges, can execute tasks based on time/actions, can directly monitor and control machines across various operating platforms, among other complex tasks.

Read the full story


BMW banking on Mexico to cut costs as demand jumps

The world’s largest luxury carmaker based in Munich, BMW Group, today announced plans to increase purchases from Mexico in a bid to lower total costs under a new cost cutting program.

More specifically, BMW will buy more auto parts that are manufactured in Mexico for its vehicles that are assembled around the world, particularly in Germany and the United States.

BMW said it would more than double auto part purchases from Mexico over the next few years, starting two years from now.

Read the full story


Business 2.0 Press publishes exclusive business tech news and analysis covering start-ups to large-caps from Bay & Wall streets since 2008 from a group of highly knowledgeable industry professionals that abide by the toughest industry codes of conduct and professional standards lightMore

lightAdd value by subscribing (RSS)

logo has the most stock ratios for public companies. Get the most comprehensive micro insight on public firms available on the web, all for free.
Stock Fractionsgo


Colon cancer is one of the leading causes of death. Irrespective of family history, everyone is exposed to the risk. About 90% of colon cancer cases begin from non-cancerous tumors, polyps, which could form in the large bowel. Screening with a colonoscopy will painlessly remove any polyps hence almost entirely reducing your risk of developing the horrible disease. The good news is that about 90% of colon cancer cases are preventable through a simple (yes, simple) colonoscopy.
Learn moreatom
Public service message from Business 2.0 Press