Media Digest 5/29/2006 WMT, GS, GE, AMD, NIPNY, MC, MT, SNE
Retuers reports that General Electric expects its sales in China to double to $10 billion by 2010. The sale of clean energy technology products should represent a substantial part of that increase.
Reuters also says that Advanced Micro Devices will spend $2.5 billion to upgrade its two factories in Germany.
Also according to Reuters, NEC and Matsushita Electric are in talks about cooperating in the cellphone businesses. NEC's operation has been losing money.
Reuters also reports that Arcelor will have to convince investors why it made $16.59 billion deal with Russia's steel maker Severstal instead of combining to suitor Mittal Steel, accoridng to some of Arcelor's shareholders.
The New York Times reports that Sony has gone into so many businesses around that world that it is losing its core reputation as an engineering company that builds premium products. One of the largest hurdles facing Sony in its turnaround is that its product once commanded premium prices. They are now often priced at the same level as comparable products from competitors. Electronics and entertainment are no longer the most profitable businesses at the company. Financial services has taken that lead.
Also in the NYT, Goldman Sachs is trying to get Arcelor shareholders to block the steel company's plans to sell off a major stake to Severstal.
The Times also reports that Wal-Mart same store sales were up a small 2.3% in May as consumer buying power dropped due to high energy prices.
Douglas A. McIntyre
Reuters also says that Advanced Micro Devices will spend $2.5 billion to upgrade its two factories in Germany.
Also according to Reuters, NEC and Matsushita Electric are in talks about cooperating in the cellphone businesses. NEC's operation has been losing money.
Reuters also reports that Arcelor will have to convince investors why it made $16.59 billion deal with Russia's steel maker Severstal instead of combining to suitor Mittal Steel, accoridng to some of Arcelor's shareholders.
The New York Times reports that Sony has gone into so many businesses around that world that it is losing its core reputation as an engineering company that builds premium products. One of the largest hurdles facing Sony in its turnaround is that its product once commanded premium prices. They are now often priced at the same level as comparable products from competitors. Electronics and entertainment are no longer the most profitable businesses at the company. Financial services has taken that lead.
Also in the NYT, Goldman Sachs is trying to get Arcelor shareholders to block the steel company's plans to sell off a major stake to Severstal.
The Times also reports that Wal-Mart same store sales were up a small 2.3% in May as consumer buying power dropped due to high energy prices.
Douglas A. McIntyre
posted by douglas mcintyre at 8:35 AM
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