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September, 29, 2016

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Business > Company Focus
Mylan CEO defends soaring EpiPen costs
Outraged Republican and Democratic lawmakers on Wednesday grilled the head of pharmaceutical company Mylan about the significant cost increase of its life-saving EpiPens and the profits for a company with sales in excess of US$11 billion.
 
South Korea's government asked Samsung Electronics to extend the refund period for its Galaxy Note 7 smartphones that have been subject to an unprecedented global recall.
 
Viacom says interim CEO Tom Dooley will leave Nov. 15 and the company is cutting its dividend in half in the first major moves from the company since longtime CEO Philippe Dauman left in August.
 
Telecoms equipment maker Ericsson plans to end manufacturing in Sweden with the loss of around 3,000 jobs, Swedish newspaper Svenska Dagbladet reported late Wednesday.
 
Monitoring the screens
A worker checks LCD 4K televisions on an assembly line at the Utsunomiya Plant of Japan's electronics giant Panasonic in Utsunomiya, 100 kilometers north of Tokyo, on Wednesday, Sept. 21.
 
There is no sense paying a premium for premium gasoline if your car is designed to run on regular, according to research by the automobile club AAA.
 
Shares in South Korea's Hanjin Shipping plunged more than 10 percent Tuesday on worries its parent will not stump up promised cash to prevent it from going under, while a court told it to return chartered vessels to their owners.
 
Cosmetics maker L'Oreal USA is building thousands of solar panels at manufacturing facilities in Kentucky and Arkansas, a move the company says will help cut carbon emissions and create two of the biggest solar-powered projects in each state.
 
Ride-hailing startup Grab said Tuesday it has raised US$750 million from investors to expand in burgeoning Southeast Asian markets including Indonesia, as it aims to build its lead over U.S.-based rival Uber in the region.
 
Galaxy Note 7 replacement scheme starts in South Korea
Samsung rolled out replacements for Galaxy Note 7s plagued by exploding batteries in South Korea on Monday, but only a handful of customers appeared to have taken the opportunity to swap their handsets.
 
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