International Business Times

2014 Lexus IS First Look: Technology and Performance Behind ‘Aggressive’ Design [VIDEO]

Charles Poladian — Tue, 28 May 2013 18:56:57 GMT

Toyota Motor Corp. is looking to bring more style and muscle to the entry level market with the 2014 Lexus IS. To show off the vehicle’s performance, Lexus set up a test drive at the legendary Rockingham Speedway in North Carolina.

US Says Bangladesh Factory Safety Is Shared Burden Of Western Brands, Country's Industry

msingleton — Tue, 28 May 2013 18:23:02 GMT

The U.S. is urging garment industry buyers around the world to ensure the safety and security of Bangladesh's garment workers. It's also insisting that the burden for improving safety lies mostly with Bangladesh.

Wendy Sherman, the U.S. Under Secretary for Political Affairs, said in a news conference in the Bangladeshi capital on Monday that Western brands in particular have a "critical role" to play in improving conditions in the textile production sector.

Starbucks Tip Jar: New York Court To Determine Whether Assistant Managers Are Entitled To Share Of Tips

Cvand003 — Tue, 28 May 2013 17:55:39 GMT

Photo: Reuters New York's top court will give its two cents into the brewing controversy over Starbucks baristas' tip jars

Why More Than 100,000 Employees Of Germany's Volkswagen AG Are Getting A Pay Hike This Year

Alexander Kaufman — Tue, 28 May 2013 14:22:53 GMT

More than 100,000 German employees of Volkswagen AG (Otcmkts:VLKAY), mostly factory workers, are getting a pay raise as local politicians seek to curry favor with trade unions ahead of federal elections later this year.

Value Of Chinese Conglomerate Fosun International Climbs Most In Two Months After It Bids With AXA To Buy Club Med

Angelo.Young — Tue, 28 May 2013 13:55:48 GMT

Fosun International Ltd. (HK:0656) shares climbed the most in two months on Tuesday after the Chinese conglomerate teamed with Paris-based AXA Private Equity to offer to buy Club Méditerranée SA (EPA:CU), Bloomberg News said. Fosun and AXA are Club Med's largest shareholders.

Investors also took a shine to Club Med stock, which remained above €17 ($21.98), which is approximately the amount AXA and Fosun are offering for the international resort operator.

Foxconn Teams Up With Mozilla For New Mobile Devices, A Handheld And A Tablet

s.song — Tue, 28 May 2013 13:05:45 GMT

Foxconn (HKG:2038) and Mozilla, which produces a free Internet browser, will unveil on June 3 two mobile devices that run on a Firefox operating system: a tablet and a handheld device, according to Guangming News, a Chinese news website.

Amway India CEO, Two Directors Arrested For Financial Irregularities In South Indian State Of Kerala

sreeja.vn — Tue, 28 May 2013 09:04:23 GMT

Direct-marketing giant Amway’s India chairman and CEO William S. Pinckney and two company directors were arrested on Monday in the state of Kerala, in southern India, on charges of financial irregularities, police said.

Canadian Drugmaker Valeant Pharmaceuticals To Buy Bausch & Lomb Holdings For $8.7 Billion

sreeja.vn — Tue, 28 May 2013 08:01:42 GMT

Canadian drugmaker Valeant Pharmaceuticals International (NYSE:VRX) said on Monday it will buy eye care company Bausch & Lomb Holdings from private equity firm Warburg Pincus LLC for $8.7 billion in an all-cash deal.

According to the terms of the deal, Warburg Pincus, which leads an investment group that owns Bausch & Lomb, will receive $4.5 billion in cash, and $4.2 billion will be used to pay off Bausch & Lomb’s outstanding debt.

Yahoo Makes A Bid For Hulu Days After Buying Tumblr

Alexander Kaufman — Fri, 24 May 2013 19:41:12 GMT

Marissa Mayer swallowed Tumblr whole in a $1.1 billion deal this week, and she's still hungry.

According to a report from AllThingsD, the Yahoo Inc. (Nasdaq:YHOO) CEO has set her sights on Hulu, submitting a bid Friday morning for the video site as a handful of other big names make offers.

Leonard Marsh Dead: Snapple Co-Founder Dies In Long Island Home At 80

Cvand003 — Fri, 24 May 2013 18:17:18 GMT

Photo: Reuters Leonard Marsh, the co-founder of the Snapple beverage brand, has died at80.

Chinese Health Companies Hike Price Of Collagen, Which Has No Proven Health Benefits

s.song — Fri, 24 May 2013 16:09:33 GMT

Many large pharmaceutical and health companies have been exposed for hiking the price of collagen, which was previously believed to boost skin elasticity among other health benefits. These companies have admitted that it is a well-known “secret” in the industry that orally administered collagen is extremely profitable but in fact has little or no health benefits, 21CBH reported.

Memorial Day Sales 2013: 29 Deals, Discounts And Bargains Online And In Stores For MDW Holiday Weekend

n.deninno — Fri, 24 May 2013 14:32:42 GMT

While Memorial Day is a time to commemorate all those who have fallen while serving in the United States Armed Forces – as well as a day off from work and school to have a summer-kickoff barbecue – it's also a big day for retail sales.

Many clothing retailers will offer discounts of 50 percent or more, even on already discounted items. Along with clothing and home goods, outdoor supplies such as patio furniture, lawn equipment and grilling items will be on sale as we head into the summer season.

Viking Wars: Norway Wants To Boycott Ryanair, But Oslo Has Problems With Its Own Low-Cost Carrier, Too

gooch7 — Fri, 24 May 2013 14:29:20 GMT

Ryanair Ltd. (LSE: RYA), the controversial, low-cost Irish carrier run by the colorful and profane Michael O’Leary, has hit strong headwinds in Norway, where the prime minister's disdain for the airline has become pointed and personal.

In support of some Norwegian unions and politicians, Prime Minister Jens Stoltenberg has vowed that he will never fly on Ryanair and called for a boycott over accusations that O’Leary treats his employees like "slaves," underpays them and maintains poor working conditions.

Horse Meat Scandal: Willy Selten Of Selten's Meat Works In The Netherlands Arrested For Allegedly Mixing Horse Meat With Beef

Cvand003 — Fri, 24 May 2013 14:18:07 GMT

Photo: Reuters Dutch authorities on Thursday arrested the director of a meat-processing and wholesale company whose business is at the center of an investigation into undeclared mixing of horse meat with beef.

Procter & Gamble Co. (PG) Boots CEO McDonald And Replaces Him With Predecessor Lafley

Alexander Kaufman — Fri, 24 May 2013 14:17:40 GMT

Procter & Gamble Co. (NYSE:PG) will replace Chief Executive Officer Bob McDonald with his predecessor, A.G. Lafley, the struggling consumer-goods giant said in a statement Friday.

Google’s Web Ad Strategy Subject Of Federal Antitrust Query As Competitors Complain About DoubleClick, Which Google Acquired In 2007

Angelo.Young — Fri, 24 May 2013 13:47:41 GMT

Google Inc. (Nasdaq:GOOG) is in the crosshairs of U.S. federal regulators regarding the way it herds websites toward using online display advertising products through DoubleClick, the company’s New York-based subsidiary.

Nissan Recall 2013: Japanese Automaker Recalls 841,000 Cars Worldwide, Full List Of Affected Vehicles

Cvand003 — Thu, 23 May 2013 18:10:58 GMT

Photo: Reuters Nissan Motor Co. will recall about 841,000 vehicles worldwide as a result of a steering wheel glitch, the Japanese automaker announced Thursday.

McDonald’s Brings Back The Mega Potato, Highest Calorie Menu Item Ever [PHOTO]

Cvand003 — Thu, 23 May 2013 16:50:46 GMT

Photo: Reuters McDonald's just released its highest calorie item ever in Japan: the Mega Potato.

Lenovo Group To Debut Smartphone In Nigeria's Growing Mobile Device Market

Cvand003 — Fri, 10 May 2013 15:37:51 GMT

Photo: Reuters

South Korean Automakers Kia And Hyundai Hold Back On US Manufacturing Investment While Expanding In China

Angelo.Young — Fri, 10 May 2013 15:15:48 GMT

Like its competitors, the Korean duo Hyundai Motor Co. (KRX:005380) and Kia Motors Corp. (KRX:000270) have their sights set on grabbing greater shares of China’s ballooning auto market by expanding local production.

Meanwhile, neither has committed to expanding production in the U.S., and Hyundai has even put on hold its aforementioned plans to open a factory in Alabama or Georgia.

India Car Sales Have Longest Consecutive Monthly Retreat On Record And Worst April Sales Month Since 2002

Angelo.Young — Fri, 10 May 2013 13:22:41 GMT

High interest rates, rising fuel costs and sluggish economic growth have driven India passenger car sales down 10.4 percent and van sales down 13.4 percent in April, according to figures released Friday by the country’s auto manufacturers' association.

Sales of SUVs increased 4 percent, but the overall decline of 8.2 percent marks the sixth consecutive monthly retreat and the longest period of contraction since the country began tracking monthly auto sales in 1997. April passenger car sales came in at 150,789 units last month, the worst April performance since 2002.

Wrigley Pulls Gum: Alert Energy Caffeinated Gum Taken Off Market Following FDA Pressure, Caffeine Concerns

Rebecka Schumann — Fri, 10 May 2013 13:20:00 GMT

Chewing gum advertising that it offers the same amount of caffeine as half a cup of coffee has been pulled from store shelves temporarily after the U.S. Food and Drug Administration (FDA) announced that it had concerns about food products with added caffeine.

Strong-Armed By Unions And South Africa's Government, Amplats (AGPPY) Scales Back Job Cuts By 8,000

Alexander Kaufman — Fri, 10 May 2013 13:19:24 GMT

Anglo American Platinum Ltd. (Otcmkts:AGPPY) promised to cut 8,000 fewer mining jobs in South Africa on Friday after the government and combative unions there vowed to fight any pink slips.

Jack Ma Steps Down As Alibaba's CEO During Epic Taobao 10th Year Anniversary Party

s.song — Fri, 10 May 2013 12:38:10 GMT

It was such a big event that Alibaba booked an entire stadium for it. Chinese e-commerce giant Alibaba on Friday gave an epic party in a stadium in its headquarters city Hangzhou to honor Jack Ma, the company's legendary founder and one of the most well-known IT executives in China, as he stepped down as CEO.

Facing Threats From Online Messaging, Telecoms China Mobile And China Unicom Set Aside Differences To Help Smartphone App Developers

Angelo.Young — Fri, 10 May 2013 12:07:14 GMT

Two of China’s top mobile operators vying against each other in a rapidly growing and increasingly competitive smartphone market will set aside their differences to join forces against their common threat from Internet-based messaging providers.

On May 17, China Mobile Ltd. (HKG:0941), the world’s largest mobile operator, and China Unicom (Hong Kong) Limited (HKG:0762), the country’s second largest mobile services provider, will unveil a standard payment plugin that can be used by app developers to serve the telecoms’ roughly 200 million 3G smartphone users.