介绍:
Samsung unveils US$10 billion share buyback with Q3 profit surge
Samsung Electronics has posted double-digit growth in its 3rd-quarter operating profits thanks to record quarterly profits from its chip-making division.
The company's net profits in Q3 have surged nearly 30-percent year-on-year to some 4.8 billion U.S. dollars.
Samsung says favorable exchange rates and a renewed focus on components are also a factor.
However, Samsung is also warning its earnings might shift downward in the 4th quarter when the exchange rate benefits will be less pronounced.
At the same time, the South Korean electronics giant has announced that it will buy back and cancel 10 billion U.S. dollars worth of its shares to lift the valuation of its stock prices.
This will mark the largest buyback in the company's history.
Shares of Samsung have surged more than 6 percent in Seoul.
China to Introduce Internal Classification System on OTC Stock Market in 2015
National Equities Exchange and Quotations, China's Over-the-Counter stock market, is reportedly expected to start an internal classification system on the market within the year.
A leading official with the NEEQ has also revealed its planning to launch a trial operation for OTC-listed companies to transfer to the ChiNext board sometime next year.
At the same time, a new promise is being made to improve OTC stock offerings, as well as plans to develop SME bond products and launch asset-backed securities.
National Equities Exchange and Quotations was launched in late 2012, and is known in China as the "new third board."
NEEQ uses a trading mechanism similar to the OTC Bulletin Board, or pink sheets trading system, in the US.
OTC listings are preferable for some companies which don't want to go through the process of registering for the big-boards.
However, for investors, their stocks tend to be more volatile, as the risk-reward ratios for OTC products are much larger.
Uber China insures passengers against traffic accidents
Uber China has co-launched an insurance initiative with China Taiping Insurance, offering passengers coverage of up to 1-million yuan for bodily injury claims.
Liu Zhen with Uber China says the company is applying for a license to run an online ride-hailing platform, which requires operators to insure passengers against traffic accidents.
"We handed in the application materials to the Shanghai Transportation Committee last week and are now being examined. Our servers are already in China. They are located in both Beijing and Shanghai. Our processors and storage for our systems are also in China as well."
Companies hoping to obtain a license must have a fixed place of business, as well as proof they can service their locations properly.
Earlier this month, Shanghai's transport authority granted the first license in China to run an online ride-hailing platform to Didi Kuaidi.
Alibaba reports faster revenue growth
Anchor:
New quarterly figures from Alibaba this week showing revenue growth of some 32 percent has spawned suggestions the tech sector may be one area the Chinese government might still be able to bank on when it comes to economic growth.
Alibaba's revenues of nearly 3.5 billion U.S. dollars beat expectations, as its growth had slowed to 28-percent in the second quarter from 45 percent in the first.
New York-listed Alibaba has seen its share price dwindle this year amid concerns the slowdown in the Chinese economy might be dragging on the company's bottom-line.
For more on Alibaba and the tech sector in China, CRI's Zhao Yang spoke earlier with Einar Tangen, former Chair of the US State of Wisconsin's International Trade Council.
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Einar Tangen, former Chair of the US State of Wisconsin's International Trade Council, speaking with CRI's Zhao Yang.
Chrysler, GAC Changfeng Motor Announce Recall in China
Chrysler is recalling around 58-thousand-600 of its Dodge Journey SUVs in China.
A part of the affected vehicles may become loose and touch the exhaust manifold, which could result in a fire.
The recall covers Dodge Journey's manufactured between July 2010 and May this year.
Meanwhile, GAC-Changfeng Motors is recalling over 96-hundred vehicles in China over faulty airbags.
The affected vehicles are Pajero V73 models manufactured between November 2010 and December 2011.
Due to a problem with the airbag's propellant, inflators in the front airbags could rupture when the airbags deploy.
Those broken parts could then injure the passengers.
Beijing's largest wholesale market opens branch in neighboring Hebei
Beijing's largest wholesaler, Xinfadi, has opened its first branch in neighboring Hebei.
The new wholesale area is located in the city of Gaobeidian, which is 84-kilometers south of central Beijing.
Covering an area of 138 hectares, the new 850-million U.S. dollar agricultural market has some 1.4 million square meters of cold storage and trading areas.
By putting the new market in Gaobeidian, it will eliminate 5.6 million trucks travelling to Beijing and move some 300-thousand wholesale employees out of Beijing.
Its part of a broader plan to help integrate the Beijing-Tianjin-Hebei region by getting the large-scale businesses in Beijing to move out into areas which have a lower population-density.
Pfizer in merger talks with Botox-maker Allergan: Report
It's being reported that pharmaceutical giant Pfizer has approached Botox-maker Allergan to discuss, what could be, the biggest merger ever in the healthcare industry.
It would also be Pfizer's second attempt to acquire a European rival.
In May of last year, Anglo-Swedish pharmaceutical group AstraZeneca rejected Pfizer's acquisition bid after 6-months of negotiations.
Pfizer is the largest drugmaker in the US, with a market value of around 220-billion U.S. dollars.
Allergan has a market value of around 113 billion U.S. dollars.
It's being suggested that a takeover of Allergan could give Pfizer a significant boost to its top-line growth.
Allergan's revenues have been increasing by around 40-percent this year.
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