Boeing Co. (BA) fell the most on the Dow Jones Industrial Average (INDU) as investors signaled concern that the world’s largest planemaker isn’t moving fast enough to curb costs on the 787 Dreamliner. While Boeing boosted its 2014 earnings forecast by 20 cents a share today and beat third-quarter profit estimates, the results were overshadowed by the expense tied to making the 787, the carbon-fiber jet on which the company still loses money. Investors worry the Dreamliner is a drag against cash that Boeing should be reaping from a record order backlog.
Updated 6 Years ago

About 1,000 Bank of America Corp. debit transactions on Apple Inc. (AAPL)’s new mobile-payment system were mistakenly duplicated. “We apologize for the inconvenience and are correcting this issue immediately and all duplicates will be refunded,” Tara Burke, a spokeswoman for the Charlotte, North Carolina-based bank, said in a phone interview. Burke declined to say how many accounts were affected or on what network the transactions were processed.
Updated 6 Years ago

David Pearson has a vision: a new community of 800,000 -- bigger thanBoston -- complete with factories, schools, clinics and a university that will help erase the legacy of apartheid in Cape Town. If the idea materializes, his 140 billion-rand ($13 billion) Wescape project in South Africa’s second-biggest city could serve as a model for development across the continent.
Updated 6 Years ago

New Nokia Lumia smartphones will instead by known as Microsoft Lumia, the company said. Nokia's non-mobile division, which is not owned by Microsoft, will continue to use the name.
Updated 6 Years ago

Tesco now says that profits in the first half of the year were overstated by £263m. That is an increase from last month's initial estimate of £250m. Tesco also reported a sharp fall in sales and profits for the first half of its financial year.
Updated 6 Years ago

The National Highway Traffic Safety Administration (NHTSA) warnedthat owners should take "immediate action". If deployed with force, the airbags have the potential to eject deadly shrapnel at passengers.
Updated 6 Years ago

Canada says it may impose import duties on US-produced goods ranging from California wine to ketchup after a WTO ruling that US labeling did not meet international standards. Canada has published a list of 38 American products that can potentially become subject to additional retaliatory tariffs. The list includes cattle and hogs, as well as a number of symbolic products such as California wine, Vermont maple syrup, Florida orange juice, ketchup and breakfast cereal.
Updated 6 Years ago

GNI Healthcare Limited, a subsidiary of GNI Insurance Company plc, was among top firms that scaled through the National Health Insurance Scheme’s (NHIS) recertification exercise, promising its enrollees of a better and more qualitative healthcare delivery. The NHIS had in June 2014 engaged the services of PriceWaterhouseCoopers, a firm of accountants and consultants, to re-access the potentials of its accredited Health Management Organisations (HMOs) with a view to building a new responsive and responsible scheme in the country.
Updated 6 Years ago

In its quest to expand market presence and reach out to more new car buyers, Hyundai Motors Nigeria Limited (HMNL), a subsidiary of Stallion Automobile group has appointed Lagos-based automobile vending and aftermarket shop. With Truckmasters Nigeria Limited as the newest bride and as one of its provisional dealers at a sign-on ceremony in Lagos, authorities at Hyundai Motors charged the new agent to be steadfast and extend its role beyond being a simple sales and service shop to become customers’ lifetime companion.
Updated 6 Years ago

Mercedes-Benz saw last month’s sales as the best in the company’s 88-year history, reaching 162,746 units and a third quarter rise of 11.9 percent. The all-time record was due to a 14 percent increase in monthly sales year-over-year, thanks to rising demand for the company’s smaller, lower-margin models and the latest generation of the S-Class flagship. Third-quarter sales were also the best ever (for the July to September period), reaching 412,018 units or an increase of almost 12 percent. For the first nine months, the delivery tally stands at 1,195,156 units, up 12.5 percent from 2013.
Updated 6 Years ago