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Gov. Cuomo Investing in Plans for Brewery to Stay in CNY
2015-10-01 15:59:47| Beverages - Topix.net
Gov. Cuomo has announced that Anheuser Busch brewery in Baldwinsville will invest $62 Million in it's plant and retain more than 400 jobs. The Governor says the state has offered the company $2 Million in tax credits recently and says retaining jobs is a key goal of his administration.
ZTE to spend up to CNY 1 bln on share buyback
2015-07-13 14:48:00| Telecompaper Headlines
(Telecompaper) ZTE announced plans to spend up to CNY 1 billion buying back its shares, following calls from the Chinese securities regulator to support the local stock market. The company will pay a maximum price of CNY 17.96, its closing price the day prior to the temporary suspension of trading in ZTE shares 09 July. The price is down from a peak of almost CNY 35 in May. Based on the latest price, this will lead to the repurchase of at least 55 million shares, or 1.6 percent of the total number of shares outstanding. The buyback, funded from internal resources, will start once ZTE receives approval from the general meeting, and the authorisation will remain valid until the end of this year. ZTE said it expects its shares to start trading again 14 July.
China Mobile Q1 profit drops 5.6% to CNY 23.8 bln
2015-04-20 12:07:00| Telecompaper Headlines
(Telecompaper) China Mobile saw its first-quarter revenues grow 3.9 percent year-on-year to CNY 160.8 billion, and EBITDA rose 2.8 percent to CNY 59.1 billion. EBITDA margin declined to 36.8 percent from 37.2 a year ago. Net profit dropped 5.6 percent to CNY 23.8 billion.
Tags: china
mobile
profit
drops
Qualcomm fined CNY 6.1 bln in China competition case
2015-02-09 22:26:00| Telecompaper Headlines
(Telecompaper) Qualcomm has agreed to pay a fine of CNY 6.088 billion (USD 975 million) in order to put an end to a competition investigation in China. The US-based company confirmed that it had reached a resolution with China's National Development and Reform Commission (NDRC) regarding the NDRC's investigation of Qualcomm under China's Anti-Monopoly Law (AML). Qualcomm will not appeal the decision that it violated the AML and agreed to pay the fine as well as implement changes in its business practices in China.
Tags: case
china
competition
fined
China starts CNY 40 bln fund for tech startups
2015-01-16 09:14:00| Telecompaper Headlines
(Telecompaper) The government of China is launching a new CNY 40 billion (USD 6.5 billion) venture capital fund to invest in seed-stage tech startups, the Financial Times reported. The fund will include capital from the government as well as from private investors. It will support the development of emerging industries, which the government said it hopes will translate into greater economic growth. The fund, announced by the State Council on 14 January, is part of a larger government effort to wean the economy off its dependence on fixed asset investment in infrastructure and property, and also to foster new opportunities for private sector companies.