IN THE PAPERS
In The Papers 20 October
20-10-2010
by Sylvia Leatham
Intel to invest in US factories | DIT to introduce maths bonus points
The Irish Times reports that Intel is to invest between USD6 billion and USD8 billion on expanding and upgrading its US factories in Oregon and Arizona. Two factories in Oregon and two in Arizona are being upgraded to manufacture chips using 22-nanometer technology. It is unclear what the decision will mean for new investment at Intel's operations in Leixlip, Kildare. Earlier this month, the Israeli finance ministry made an offer to Intel of about EUR135 million in grant aid if it located next generation manufacturing in that country. Intel's only factories outside the US are in Israel and Ireland.
The Irish Independent says that the Dublin Institute of Technology (DIT) has decided that Leaving Cert students who get a failing E grade in higher level maths will now be deemed to have passed the subject. DIT announced the concession for the 2012 exams, as well as agreeing to introduce 25 points for a pass (minimum D3) at higher level. Meanwhile, a final decision on bonus points from the 13 other institutes of technology is still awaited.
The Irish Examiner reports that storage maker EMC's third-quarter profit rose 58 percent on increasing demand for storage and security products. Net income grew to USD472.5 million, or USD0.22 a share. Excluding some costs, profit was USD0.30 a share, matching the average of analyst estimates compiled by Bloomberg. Sales rose 20 percent to USD4.21 billion, beating the USD4.14 billion average projection. EMC raised its full-year profit and sales forecasts.
According to the Financial Times, Yahoo's profit more than doubled in the third quarter on stronger margins and a 17 percent increase in display advertising. The internet company said net earnings had jumped 113 percent to USD396 million, or USD0.29 a share, helped by a USD0.13 gain from the sale of HotJobs. Sales increased 2 percent to USD1.58 billion. The profit from operations beat consensus projections and Yahoo shares rose slightly in after-hours trading.
The paper also says that Google's market share in China continues to erode as a reorganisation of the company's distribution network takes its toll on search revenues. Google's share of China's online search revenues dropped from 27.3 percent in the second quarter to 24.6 percent in the third quarter, according to Beijing-based iResearch. The drop continues the process triggered by Google's stand-off with the Chinese government over censorship and the company's partial retreat from the country this year. The fall in market share came as Google restructured its sales distribution network, which it uses to sell Adwords.
In other news of both Google and Yahoo, the Wall Street Journal says that online shopping mall operator Rakuten has filed a petition with the Japan Fair Trade Commission asking the antitrust regulator to review Google and Yahoo Japan's planned partnership in search engine and advertising systems. "The tie-up between the two firms would result in Google monopolising information, which could hinder the development and growth of not only search engines but many internet-related services in Japan," Rakuten said in a statement.
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