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Feb 23: Sales of Samsung Galaxy S II phones top 20 mn

  • Feb 23: Sales of Samsung Galaxy S II phones top 20 mn

    Feb 23: Sales of Samsung Galaxy S II phones top 20 mn

  • Nissan to recall 250,000 Juke, Infiniti M, others globally

    Nissan Motor Co's Juke cars are parked before being shipped to the US.

    Nissan Motor Co said on Wednesday it would recall about 250,000 Juke, Infiniti M, March and other models globally to fix a mechanical glitch in the fuel rail of direct injection engines that could lead to a fuel leak in extreme cases.

    No accident or injury has been reported due to the fault, a Nissan spokesman said.

    Subject to the recalls are some Juke crossovers produced in Britain, Tiida subcompact cars made in China, March/Micra hatchbacks made in India, as well as Serena minivans and the Infiniti M and QX models produced in Japan between August 2009 and January 2012. About 93,000 of the recalls are in Japan.

    Nissan said the fuel rail pressure sensor on certain vehicles could be tightened insufficiently to the fuel rail of the engines and could gradually loosen. The company did not disclose an estimate of the cost of the recalls.

  • RBS pays 985 mn pounds in bonuses despite 2-bn-pound loss

    A woman passes a Royal Bank of Scotland branch in central London.

    State-owned Royal Bank of Scotland (RBS) posted a fourth quarter loss of nearly 2 billion pounds, hurt by writedowns on assets and restructuring costs, although it still paid out almost 1 billion pounds in bonuses to staff in 2011.

    RBS, 82% owned by the British government after a state bailout during the 2008 credit crisis, reported a fourth-quarter loss of 1.8 billion pounds, pushing it back into the red after it made a third-quarter profit of 1.2 billion.

    RBS said staff costs at its GBM investment banking division, where it is cutting thousands of jobs, were 2.45 billion pounds in 2011, down 9% from the previous year.

    It paid out 390 million pounds in bonuses for its GBM investment bankers for 2011, down 58% from 2010.

  • ING to sell Asia JVs separately from other assets

    People walk in the ING office in Taipei.

    ING Groep NV is planning to sell its three Asian insurance joint ventures separately from its other Asia assets so that the overall sale is not held up by negotiations with partners, two sources with direct knowledge of the situation said.

    ING has insurance joint ventures in China, India and Korea. In China, it is partnered with Bank of Beijing Life Insurance in India, its partner is Vysya Life Insurance, while in Korea it has a tie-up with KB Life Insurance.

    ING's investment banking division would advise on the joint venture sales, one of the sources said.

    The sources declined to be identified as they were not authorised to speak to the media. ING declined to comment on the process.

  • Ranbaxy reports Q4 loss on probe provision

    Malvinder Singh at a press conference.

    Ranbaxy Laboratories Ltd, the country's top drugmaker by sales, reported a quarterly loss of Rs 2,983 crore, mainly due to a provision related to a probe by the US Justice Department.

    The company said it set aside Rs 2,648 crore as a provision towards settlement of the probe related to compliance issues at the drugmaker's manufacturing facilities in the United States and India.

    Ranbaxy, majority owned by Japan's Daiichi Sankyo Co, said consolidated net sales soared 79.2% in the December quarter at Rs 3,738 crore.