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Wednesday, 6 January 2016

Company News January 2016 No1 : Currencies makes the device more expensive

     Fiat's Brilliant Spinoff of Ferrari

  • Fiat Chrysler has spun off Ferrari, and the two companies have comparable market caps. Does this mean that more exclusive brands command a premium on the stock exchange?
  • On Tuesday, Ferrari's second day of trading on the Milan stock exchange, the carmaker was valued at $9.1 billion. Fiat Chrysler was worth $11.6 billion.
  • How can a company that only sold 7,255 cars in 2014 be worth 78 percent of one that sold more than 4 million? After all, the mass-market automaker earns far more than the premium one. Fiat Chrysler's projected 2016 net income is $2.2 billion, and Ferrari is only expected to make $342 million. Ferrari has a lower debt level than Fiat Chrysler, but the difference is not sufficient to explain the market valuations.
  • And what explains Ferrari's price-to-earnings ratio of 26 times earnings? It is almost unique in the car industry: Only Tesla trades at a higher one.


      Toyota Snubs Tech Companies With Ford Dashboard Deal

  • Toyota Motor Corp. agreed to use a car-phone connectivity system championed by Ford Motor Co. in a front to keep Apple Inc. and Google from dominating control of dashboards.
  • Toyota will introduce a telematics system with Ford’s SmartDeviceLink, an open platform that the automakers are inviting their peers to adopt for in-car applications, it said in a statement. Toyota has resisted offering Apple’s CarPlay and Google’s Android Auto, citing safety and security concerns, while Ford is offering them as apps within its Sync connectivity system this year.
  • “Developing a safer and more secure in-car smartphone connectivity service which better matches individual vehicle features is exactly the value and advantage an automaker can offer customers,” Shigeki Terashi, a Toyota executive vice president, said in the statement. Ford said Honda Motor Co., Fuji Heavy Industries Ltd.’s Subaru, Mazda Motor Corp. and Peugeot SA also are investigating SmartDeviceLink.

     Singapore Air Raises Tiger Air Bid in Push to Delist Company

    Singapore Airlines Ltd. raised its offer for Tiger Airways Holdings Ltd. by almost 10 percent, offering shareholders in the unprofitable budget airline an improved deal after a lobby group urged Southeast Asia’s largest carrier to sweeten its bid.

      GM Invests $500 Million in Lyft

  • General Motors Co. will invest $500 million in Lyft Inc., giving the ride-hailing startup a valuation of $5.5 billion and a major ally in the global battle against Uber Technologies Inc.
  • The investment, part of a $1 billion financing round for Lyft, is the biggest move by an automaker to date when it comes to grappling with the meteoric rise of the ride-hailing industry.
  • GM and Lyft said they will work together to develop a network of self-driving cars that riders can call up on-demand, a vision of the future shared by the likes of Uber Chief Executive Officer Travis Kalanick and Google-parent Alphabet Inc. More immediately, America’s largest automaker will offer Lyft drivers vehicles for short-term rent through various hubs in U.S. cities, the companies said in separate statements on Monday.
  • GM President Dan Ammann, who is joining Lyft’s board as part of the deal, expects the automotive industry to “change more in the next five years than it has in the last 50 and we obviously want to make sure we’re at the forefront of that change.”

      Volkswagen Sued by U.S. for Cheating on Emissions Standards

The Justice Department sued Volkswagen AG, accusing the German automaker of installing illegal devices meant to defeat emissions testing on nearly 600,000 vehicles, marking another blow against the company which has been rocked by the pollution scandal since September.

  • The complaint filed Monday in federal court in Detroit is the first case against the company brought by the Justice Department, which is also investigating the carmaker for possible criminal conduct related to the devices.
  • The biggest possible penalty under the complaint could be against Volkswagen on all of the alleged violations for all of the cars. However, judges rarely impose the maximum penalty and some of the alleged violations could be considered to be overlapping, bringing down any final amount, a senior Justice Department official said. Nevertheless, the penalties requested against the company would clearly be in the billions of dollars, another official said.
  • "Car manufacturers that fail to properly certify their cars and that defeat emission control systems breach the public trust, endanger public health and disadvantage competitors," Assistant Attorney General John Cruden said in a statement.

  •       Tesla Stresses Quality Over Quantity as Model X Deliveries Begin

    • Tesla Motors Inc.’s slow rollout of the Model X sport utility vehicle shows the maker of electric cars is emphasizing quality over quantity to protect its brand image after hiccups earlier in 2015.
    • Following a splashy introduction of the SUV in late September and a backlog of thousands of orders, Tesla went on to deliver 208 Model Xs in the fourth quarter. That’s less than half the 507 it actually built and below some analysts’ projections. One reason, Tesla said Sunday, is that in the early stages of production it will “prioritize quality above all else.”
    • Tesla may have learned from a fresh, painful lesson: In late October, its shares slid the most in more than two months after Consumer Reports, the product-reviewer that once extolled the virtue of its Model S luxury car, pulled the vehicle from its recommended list because of below-average reliability. The automaker needs to ensure a smooth reception for the SUV ahead of the planned 2017 rollout of the Model 3, a less expensive sedan that’s designed to put the brand finally within reach of the mass consumer.

          Microsoft Windows 10 Runs on 200 Million Devices in 6 Months

    • Microsoft Corp.’s new Windows 10 operating system is running on more than 200 million devices, putting the software on course for the fastest growth trajectory of any previous version as the company faces increasing competition with Apple Inc. and Google Inc.
    • The software upgrade, which was released in July 2015, is outpacing Windows 8 by almost 400 percent, according to a post on the Windows blog by Corporate Vice President of Windows and Devices Group Yusuf Mehdi. This inches the company closer to its goal of having 1 billion devices running Windows 10 in 2018.
    • The success of Windows 10 is key to Chief Executive Officer Satya Nadella’s strategy of building an ecosystem of gadgets and cloud-based software and services that work together -- similar to the way that Apple’s and Google’s do now. Microsoft is also counting on Windows to help restore growth to one of the company’s flagship businesses as revenue from the PC operating system has fallen 19 percent in the past five years.
    • "Is it enough to believe Windows has turned the corner?" said Mark Moerdler, an analyst at Sanford Bernstein & Co. "No, but it’s a positive sign in that direction."

          Malaysia Air Bans Checked Bags Over Fears Headwinds Could Leave Jets Short on Gas

    • Malaysia Airlines took the unusual step of of telling long-haul passengers that they should fly without checked luggage on European flights, saying unusually intense headwinds are jeopardizing the ability of aircraft to reach cities in the continent even with a full load of fuel.
    • Any luggage that is checked in will "arrive later,” while customers connecting with Malaysian flights via other members of the Oneworld alliance may have their bags offloaded, the company said in an advisory bulletin on its website.
    • The Asian carrier is struggling to reach Western Europe as a result of “unseasonably strong headwinds” combined with longer flight paths adopted “in the interest of safety,” it said. Routes were modified after the downing of one of its jets over a war-zone in Ukraine in 2014 killed all 298 people aboard.
    • “The reasoning has made them look odd, it’s pure stupidity,” said Shukor Yusof, founder of Endau Analytics, an aviation consultancy firm in Malaysia. “It’s ludicrous. Malaysia Airlines have been flying to Europe for decades. Over the last 30-40 years was there no bad weather?"

          Sharp Leads Apple Suppliers Lower on IPhone Output Cut Report

    • Sharp Corp. led suppliers to Apple Inc. lower in Tokyo after Nikkei Asian Review reported the U.S. company would reduce the first quarter output of its latest iPhones by about 30 percent.
    • Sharp dropped 4.9 percent to 116 yen as of 9:15 a.m. and Japan Display Inc. fell 3.8 percent. The companies both supply screens for Apple devices. TDK Corp. slid 3.2 percent.

          Nintendo Drops in Tokyo After SMBC Nikko Cuts Recommendation

      Nintendo Co. fell in Tokyo trading after SMBC Nikko Securities Inc. cut its recommendation and said it now expects the company’s entry into smartphone games won’t make full contributions to revenue until the year ending March 2018.

          Faraday's Futuristic Concept Car Only Has One Seat

    • Talk about a flight of fancy. Faraday Future Inc., the electric vehicle startup backed by Chinese Internet billionaire Jia Yueting, showed a concept car that would probably struggle to gain mass acceptance even if produced.
    • For starters, the FFZero1 concept car, shown Monday for the first time in Las Vegas before the Consumer Electronics Show this week, has but one seat. The car’s space-age style white cockpit was inspired by NASA research and has oxygen and water fed to the driver’s helmet. If Faraday built this car, it would have the equivalent of 1,000 horsepower, not exactly what one drives to pick up the kids.