International Business News - Industries http://www.ibtimes.com/rss/feed/industries.rss All articles are copyrighted by IBTimes.com 120 30 http://www.ibtimes.com/rss/feed/industries.rss http://www.ibtimes.com/images/top_logo_ibt2_3.gif Warren Buffett's Berkshire Hathaway Inc said it plans to limit the amount of business underwritten by its reinsurance operations, as it prepares to spend roughly $26 billion to buy railroad operator Burlington Northern Santa Fe Corp. http://www.ibtimes.com/articles/20091106/berkshire-reinsurance-volume-limited-burlington.htm http://www.ibtimes.com/data/articleimgs/223706-berkshire-reinsurance-volume-limited-by-burlington.jpg http://www.ibtimes.com/articles/20091106/berkshire-reinsurance-volume-limited-burlington.htm http://www.ibtimes.com/articles/20091106/berkshire-reinsurance-volume-limited-burlington.htm Fri, 06 Nov 2009 20:46:57 EST California was awarded $19.5 million in a settlement against Royal Dutch Shell Plc's U.S. unit for not storing fuel properly at filling stations in the state, Attorney General Jerry Brown said on Friday. http://www.ibtimes.com/articles/20091106/shell-pay-19mln-california-violations.htm http://www.ibtimes.com/data/articleimgs/223705-shell-to-pay-19mln-for-california-violations.jpg http://www.ibtimes.com/articles/20091106/shell-pay-19mln-california-violations.htm http://www.ibtimes.com/articles/20091106/shell-pay-19mln-california-violations.htm Fri, 06 Nov 2009 20:42:18 EST Citigroup Inc said on Friday that new accounting rules for securitization trusts may prevent the bank from funding some of its assets with a top debt rating. http://www.ibtimes.com/articles/20091106/citigroup-says-rules-may-hit-securitization.htm http://www.ibtimes.com/data/articleimgs/223704-citigroup-says-new-rules-may-hit-securitization.jpg http://www.ibtimes.com/articles/20091106/citigroup-says-rules-may-hit-securitization.htm http://www.ibtimes.com/articles/20091106/citigroup-says-rules-may-hit-securitization.htm Fri, 06 Nov 2009 20:37:39 EST Freddie Mac, the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing. http://www.ibtimes.com/articles/20091106/freddie-mac-postsbln-loss-predicts-weak-housing.htm http://www.ibtimes.com/data/articleimgs/223703-freddie-mac-postsbln-loss-predicts-weak-housing.jpg http://www.ibtimes.com/articles/20091106/freddie-mac-postsbln-loss-predicts-weak-housing.htm http://www.ibtimes.com/articles/20091106/freddie-mac-postsbln-loss-predicts-weak-housing.htm Fri, 06 Nov 2009 20:32:44 EST Shares of printing-equipment maker Duoyuan Printing Inc fell in their market debut on Friday after pricing at the low end of expectations. http://www.ibtimes.com/articles/20091106/duoyuan-printing-shares-fall-debut.htm http://www.ibtimes.com/articles/20091106/duoyuan-printing-shares-fall-debut.htm Fri, 06 Nov 2009 20:29:07 EST Dollar General is set to go public next week, but the discount retailer could see mixed results in its closely watched initial public offering as its private equity backers have valued the company richly. http://www.ibtimes.com/articles/20091106/dollar-general-set-price-rich-valuation.htm http://www.ibtimes.com/articles/20091106/dollar-general-set-price-rich-valuation.htm Fri, 06 Nov 2009 20:26:59 EST Telefonica's decision to sweeten its offer for Brazilian telecom rival GVT dealt a "major blow" to Vivendi's plans to acquire the carrier, sources close to the transaction told Reuters on Friday, suggesting the French media giant may walk away from the deal. http://www.ibtimes.com/articles/20091106/telefonica-bid-gvtblow-vivendi-sources.htm http://www.ibtimes.com/articles/20091106/telefonica-bid-gvtblow-vivendi-sources.htm Fri, 06 Nov 2009 20:23:36 EST Home goods retailer A.C. Moore Arts & Crafts Inc posted a wider-than-expected third-quarter loss as same-store sales fell and increased promotional activities hurt margins, sending its shares down as much as 18 percent. http://www.ibtimes.com/articles/20091106/amoore-posts-wider-than-expected-q3-loss-shrs-fall.htm http://www.ibtimes.com/articles/20091106/amoore-posts-wider-than-expected-q3-loss-shrs-fall.htm Fri, 06 Nov 2009 15:51:53 EST General Motors Co said on Friday the head of its European operations, Carl-Peter Forster, is leaving, three days after the automaker's decision to scrap a planned sale of its Opel unit. http://www.ibtimes.com/articles/20091106/opel-chief-leaves-following-failed-deal.htm http://www.ibtimes.com/data/articleimgs/223687-gm-europe-chief-forster-makesspeech-in-graz.jpg http://www.ibtimes.com/articles/20091106/opel-chief-leaves-following-failed-deal.htm http://www.ibtimes.com/articles/20091106/opel-chief-leaves-following-failed-deal.htm Fri, 06 Nov 2009 15:32:02 EST AES Corp said it will raise $1.58 billion by selling a nearly 15 percent stake in the company to a unit of China Investment Corp (CIC), and the power company posted a higher third-quarter profit. http://www.ibtimes.com/articles/20091106/aes-sell-15-pct-stake-chinas-cic-for58-bln.htm http://www.ibtimes.com/articles/20091106/aes-sell-15-pct-stake-chinas-cic-for58-bln.htm Fri, 06 Nov 2009 12:27:37 EST Poland said on Friday it had received three offers for its stake in the Warsaw Stock Exchange. http://www.ibtimes.com/articles/20091106/deutsche-boerse-two-others-bid-warsaw-bourse.htm http://www.ibtimes.com/data/articleimgs/223673-deutsche-boerse-two-others-bid-for-warsaw-bourse.jpg http://www.ibtimes.com/articles/20091106/deutsche-boerse-two-others-bid-warsaw-bourse.htm http://www.ibtimes.com/articles/20091106/deutsche-boerse-two-others-bid-warsaw-bourse.htm Fri, 06 Nov 2009 12:23:51 EST Solar company STR Holdings Inc priced its initial public offering of 12.3 million shares at $10 a share on Friday, below the target range and a day later than expected. http://www.ibtimes.com/articles/20091106/str-holdings-ipo-prices-below-range-10.htm http://www.ibtimes.com/articles/20091106/str-holdings-ipo-prices-below-range-10.htm Fri, 06 Nov 2009 12:16:46 EST Shares of Magna International Inc were up more than 12 percent on Friday, a day after it posted a surprise quarterly profit and said it would focus on its core auto-parts business after the collapse of its deal to buy a stake in General Motors Co's Opel unit. http://www.ibtimes.com/articles/20091106/magna-results-renewed-focus-drive-shares-higher.htm http://www.ibtimes.com/articles/20091106/magna-results-renewed-focus-drive-shares-higher.htm Fri, 06 Nov 2009 12:10:38 EST A founder of part of payments processing business RBS WorldPay is interested in buying all of the business back from Royal Bank of Scotland after the UK bank was told to sell it by European competition authorities. http://www.ibtimes.com/articles/20091106/former-worldpay-boss-keen-buy-rbs-worldpay.htm http://www.ibtimes.com/data/articleimgs/223672-former-worldpay-boss-keen-to-buy-rbs-worldpay.jpg http://www.ibtimes.com/articles/20091106/former-worldpay-boss-keen-buy-rbs-worldpay.htm http://www.ibtimes.com/articles/20091106/former-worldpay-boss-keen-buy-rbs-worldpay.htm Fri, 06 Nov 2009 12:04:56 EST Lion Energy Corp. is a Canadian exploration company focused on the acquisition, exploration and development of oil and gas reserves in Central and East Africa. The company today made a joint announcement with Southern Star Energy Inc. (SSEY.OB), a U.S.- based oil and gas exploration company, and Gold Star Resources Corp. (TSX-V: GXX), a Canadian [...] http://www.ibtimes.com/articles/20091106/lion-energy-southern-star-energy-ssey-ob-gold-star-resources-fuse-to-create-combined-company-with-pr.htm http://www.ibtimes.com/articles/20091106/lion-energy-southern-star-energy-ssey-ob-gold-star-resources-fuse-to-create-combined-company-with-pr.htm Fri, 06 Nov 2009 11:19:29 EST Ionfinity is an expert in commercializing emergent technologies via strong partnerships with the U.S. Department of the Army, the Department of the Navy, and the Air Force (USAF). A subsidiary of the VIASPACE family, Ionfinity is a pioneer in bleeding-edge Mass Spectrometry (MS), a technology which allows for real-time sampling and analysis of trace amounts [...] http://www.ibtimes.com/articles/20091106/viaspace-inc-vspc-ob-subsidiary-ionfinity-captivates-mass-spectrometry-market.htm http://www.ibtimes.com/articles/20091106/viaspace-inc-vspc-ob-subsidiary-ionfinity-captivates-mass-spectrometry-market.htm Fri, 06 Nov 2009 08:13:39 EST Even during the worldwide recession it seems consumers continue to abandon ‘dumb’ phones when, for just a little bit more money, they can get a pocket-sized computer – a smartphone – instead. According to research firm Gartner, overall handset sales are expected to shrink by 4 percent this year compared to last year. Meanwhile, smartphone [...] http://www.ibtimes.com/articles/20091106/googleandroid-takesbite-out-of-apple.htm http://www.ibtimes.com/articles/20091106/googleandroid-takesbite-out-of-apple.htm Fri, 06 Nov 2009 07:10:33 EST Continucare Corp. yesterday reported its first quarter fiscal year 2010 financial results. The company reported a 113% increase in net income and continued strength in the business with higher quarter-ending cash and working capital balances. Richard C. Pfenniger, Jr., Continucare’s Chairman and Chief Executive Officer commented, “We are extremely pleased with our first quarter results,” “Record [...] http://www.ibtimes.com/articles/20091106/continucare-corp-cnu-first-quarter-fiscal-year-2010-results-show-116-increase-in-operating-profit.htm http://www.ibtimes.com/articles/20091106/continucare-corp-cnu-first-quarter-fiscal-year-2010-results-show-116-increase-in-operating-profit.htm Fri, 06 Nov 2009 07:04:03 EST Prior to their national commercial launch, Muscle Flex Inc. announced that it has gone live with accepting orders for its Muscle Flex Beagle StepFit Pedometer, the BUDDY Tablet Caddy and “Danny Alex Commercial Blue” T-shirts on its newly designed website at www.MuscleFlexInc.com. “We have already had a number of orders for our Muscle Flex products and [...] http://www.ibtimes.com/articles/20091106/muscle-flex-inc-mfli-pk-now-accepting-orders-for-the-beagle-stepfit-the-buddy-tablet-caddy-and-danny.htm http://www.ibtimes.com/articles/20091106/muscle-flex-inc-mfli-pk-now-accepting-orders-for-the-beagle-stepfit-the-buddy-tablet-caddy-and-danny.htm Fri, 06 Nov 2009 06:54:15 EST Solar Energy Initiatives Inc. is dedicated to reducing the world’s dependence on fossil fuels by selling thermal and photovoltaic (PV) technologies while building a profitable company. To this end, they are developing one of the fastest growing dealer networks in the U.S. to sell and install solar solutions to homeowners as well as commercial customers. The [...] http://www.ibtimes.com/articles/20091106/solar-energy-initiatives-snry-ob-harnessing-the-power-of-the-sun.htm http://www.ibtimes.com/articles/20091106/solar-energy-initiatives-snry-ob-harnessing-the-power-of-the-sun.htm Fri, 06 Nov 2009 06:46:49 EST