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Renault Cuts CEO Ghosn's Pay after Shareholder Revolt
Renault Cuts CEO Ghosn's Pay after Shareholder Revolt
The company will cut the variable part of Ghosn's salary by 20%, change how it is calculated and cap it at 180% of his fixed salary.
Samsung and Apple smartphones.
Samsung Stretches Lead over Apple in Smartphone Market
Samsung is up, Apple is down — at least in terms of smartphones sold last quarter — and the South Korean tech giant now has an almost 2-to-1 market share lead.
Boeing Shares Rise Despite 1st Quarterly Loss Since 2009
Boeing Shares Rise Despite 1st Quarterly Loss Since 2009
Boeing lost $234 million for the quarter ending June 30, but confirmed deliveries for rest of 2016.
FCA CEO Sergio Marchionne speaks about the company.
GLOBAL FINANCIAL ROUNDUP: Fiat Chrysler Profits Shift Into Higher Gear
FCA profits are up a quarter, but net profit checks in below the forecast with sales down, too. ... Nissan profits are down thanks to stronger yen. ... Airbus profits soaring. ... Nintendo loss disappoints, Pokemon Go Plus delayed. ... Hyundai Heavy posts best quarter since 2013. ... JSW Steel surges to record.
A user slides through the Apple iPhone 6 home screen.
US FINANCIAL ROUNDUP: Apple iPhone Sales, Profits Drop
Apple profits slump 27% from a year ago to $7.8 billion on a sharp drop in iPhone sales, but investors remain reassured. ... Coca-Cola net earnings rise almost 11% but net revenues outside North America slide. ... After failed Hershey big, Mondelez beats quarterly estimates.
Caterpillar Expects More Job Cuts Amid Falling Earnings
CEO Doug Oberhelman: “Despite a solid second quarter, we’re cautious as we enter the second half of the year. We’re not expecting an upturn in important industries like mining, oil and gas and rail to happen this year.”
Connected, Self-Driving Cars Pose Serious New Security Challenges 1
Jeffrey Massimilia, GM's chief cybersecurity officer, said sharing information broadly across the industry is one of the keys to fighting off the threat.
FINANCIAL ROUNDUP: Power, Aviation Boost GE Despite Weak Oil
Honeywell cuts 2016 forecast. ... Philips Lighting quarterly profit jumps. ... ABB beats profit estimate. ... Dow-DuPont shareholders approve merger. ... Swatch profits slow.
A rather dusty VCR.
Rewind? No, Just Stop and Eject: Last VCRs Head Out This Month
Though they were replaced long ago by DVDs, Blu-rays and now streaming video, VCRs still have a place in American homes: According to a recent poll, 58% of U.S. households still have one. But no more will be made after this month.
AUTO ROUNDUP: GM Finally Profits in Europe; Volvo's SUV Delivers
But GM executives warned that uncertainty created by the British vote to exit the European Union could push the region back into the red in the second half of the year.
Peugeot-Citroen to Build Cars in Iran
Three Citroen models specifically designed for the Iranian market are planned, and the joint venture aims to build 150,000 cars per year in five years.
Microsoft CEO Satya Nadella speaks at a Seattle-area event earlier this year.
FINANCIAL ROUNDUP: Microsoft Delivers Earnings Surprise, Stock Rises
Microsoft’s fourth-fiscal-quarter profit was nearly identical to the loss from a year earlier, when it took charges reflect the lower value of the Nokia mobile phone division it had acquired. ... SAP confirmed its full-year targets after strong growth in its cloud business propelled earnings and sales in the second quarter.
Midea Snags Close to 86% Stake in Kuka Robotics
The Chinese appliance giant acquired another 72% of the German robotics firm — a controversial decision in Europe — and now owns more than six-sevenths of the company.
The Volkswagen logo on the front of a car.
VW Remains Financially Optimistic Amid Charges
Despite booking another charge to the tune of 2.2 billion euros, the auto giant insists that profits have come in better than expected overall and that it will stick to its full-year targets.
SpaceX rockets in Cape Canaveral, Florida.
SpaceX Propels Cargo to ISS, Lands Rocket 1
Finally, some good news for Elon Musk, whose space cargo transportation company not only shipped 5,000 pounds of cargo to the International Space Station but also successfully landed its rocket engines at Cape Canaveral.
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