Google Glass Will Be Made in the USA by Foxconn
Google‘s high-tech glasses will be manufactured in California, according to multiple reports, in the latest example of an American tech company choosing to build one of its products in the United States. Google’s highly touted computerized spectacles, known as Google Glass, will be assembled by Foxconn Technology Group, the Taiwanese industrial giant that builds many of Apple‘s products, at a plant in Santa Clara, California, according to reports in the Financial Times and Bloomberg. Google’s decision comes just months after Apple CEO Tim Cook announced plans to spend $100 million to build one of the existing Mac lines in the U.S. Apple’s plans were highlighted by President Obama during his 2013 State of the Union address. Obama has called for tech companies to increase U.S.-based manufacturing, and although there are signs of an uptick, there remains considerable debate about whether this is a long-term trend or a short-term byproduct of the U.S. economic recovery. Foxconn, ...
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Judge Approves American-US Airways Merger
(NEW YORK) — American Airlines won bankruptcy court approval Wednesday to combine with US Airways and form the world’s biggest airline. “The merger is an excellent result. I don’t think anybody disputes that,” Judge Sean H. Lane said before issuing his decision. (MORE: The Battle for the Future of American Airlines) But the judge declined to sign off on a proposed $20 million severance package for Tom Horton, currently the CEO of American’s parent AMR Corp. The approval is an important milestone for American, which filed for Chapter 11 in November 2011 after having long resisted using the bankruptcy process to cut labor and other costs. The merger still needs approval from Department of Justice antitrust regulators and US Airways shareholders. It is expected to close by the fall. The combined airline will have 6,700 daily flights and annual revenue of roughly $40 billion. The new American Airlines will fly slightly more passengers than United, the current No. 1. It will be run ...
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Prudential fined for failed bid for AIG's Asia arm
LONDON -- Britain's financial services regulator has fined insurer Prudential PLC 30 million pounds ($45.5 million) and censured its chief executive, over the company's handling of a failed bid to acquire rival the Asian subsidiary of American International Group in 2010....
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Trustee queries severance offer for AMR chief
The trustee overseeing American Airlines' bankruptcy has asked the carrier to justify its offer of $19.9 million in severance pay to Chief Executive Tom Horton, part of compensation linked to its merger with US Airways Group .
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Found more than 1 month ago on channel
Reuters
AIG ends U.S. government interest with warrant buyback
Insurer American International Group Inc eliminated the U.S. government's last financial interest in the company on Friday, buying back warrants from the U.S. Treasury for about $25 million.
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Found more than 1 month ago on channel
Reuters