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June, 26, 2016

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Business > Company Focus
Mitsubishi to post US$480 mil. loss over fuel-cheating scandal
Mitsubishi Motors said Friday it will post a US$480 million special loss for the current fiscal year to pay compensation to customers over years of cheating on fuel-economy tests.
 
'Distinctly Chinese' Disney park opens in Shanghai
Walt Disney Co. opened Shanghai Disneyland, its first theme park in China, with a lavish celebration Thursday featuring Chinese Communist Party (CCP) leaders, a children's choir, Sleeping Beauty and other Disney characters.
 
Didi Chuxing raises US$7.3 bil. in new capital
Chinese ride-hailing app Didi Chuxing, a bitter rival of U.S.-based Uber, has raised US$7.3 billion in one of the world's largest private equity financing rounds, the company said in a statement Thursday.
 
Samsung Electronics has agreed to buy a U.S. cloud service startup to boost its software and internet services.
 
ASML, a Dutch chip-making equipment corporation announced its decision Thursday to buy Hermes Microvision Inc. (HMI, 漢微科), a Taiwanese chip-making equipment manufacturer in a deal worth NT$100 billion (approx. US$3.1 billion). HMI shares rose 10 percent (the daily limit) to NT$1,330 per share.
 
Chinese appliance firm Midea on Thursday said it had begun a cash offer for at least a 30 percent stake of German industrial robotics supplier Kuka, a tender which has stoked controversy in Europe.
 
German automaker Volkswagen plans to ramp up its offerings of electric vehicles as it fights to bounce back from a scandal over diesel cars rigged to cheat on emissions tests.
 
Reducing errors made during surgery, bringing school books to life, enabling us to browse shops from the comfort of home -- virtual reality is not just about gaming, it will change our lives, according to some tech leaders.
 
China's largest private property developer, the Wanda Group, has teamed up with basketball's international governing body in a multimillion-U.S.-dollar marketing deal as it expands its global presence in sports.
 
Finnish telecom equipment giant Nokia announced Thursday a plan to complete the acquisition of its former rival, French-American Alcatel-Lucent during the third quarter.
 
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