Financial
Toyota world's top selling car maker for second year PDF  | Print |  E-mail
Written by YURI KAGEYAMA, AP Business Writer   
Thursday, 23 January 2014 07:37

TOKYO (AP) — Toyota remained the top-selling automaker for a second year in a row, beating U.S. rival General Motors by some 270,000 vehicles in 2013, and set an ambitious target to sell more than 10 million vehicles this year.

That would mark a milestone as no automaker has ever topped annual worldwide sales of 10 million.

Toyota Motor Corp. said Thursday it sold a record 9.98 million vehicles worldwide last year, up 2 percent from the previous year.

The Japanese automaker has made an impressive comeback from an earthquake and tsunami that devastated northeastern Japan in 2011, damaging auto suppliers and hobbling production.

Toyota also outlined plans to sell 10.32 million vehicles and produce 10.43 million vehicles in 2014.

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Spain jobless rate stuck at 26 pct. PDF  | Print |  E-mail
Written by ALAN CLENDENNING, AP Business Writer   
Thursday, 23 January 2014 07:34

MADRID (AP) — Spain's sky-high unemployment rate remained stuck at 26 percent in the fourth quarter as the economy expanded but not enough to trigger job growth, according to a pair of government reports issued Thursday.

The jobless rate for the October-December period rose to 26.03 percent from 25.98 percent in the previous quarter and the number of unemployed stood at a rounded 5.9 million people, the National Statistics Agency said.

Separately, the Bank of Spain issued preliminary figures showing the country's economy grew 0.3 percent in the fourth quarter after registering a 0.1 percent rise in the previous quarter following nine quarters of declines. For the whole of 2013, economic activity shrank 1.2 percent.

The statistics agency is expected to confirm the bank's GDP figures in a preliminary report on Jan. 30 while the final report will be issued on Feb. 27.

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Lenovo buys part of IBM server business for $2.3B PDF  | Print |  E-mail
Written by JOE McDONALD, AP Business Writer   
Thursday, 23 January 2014 07:36

BEIJING (AP) — China's Lenovo Group is buying IBM's server business for $2.3 billion, expanding a product line-up dominated by PCs, tablets and smartphones.

Lenovo, the world's biggest personal computer maker, said Thursday it expects to offer jobs to 7,500 IBM employees as part of its acquisition of the x86 server business.

The acquisition will accelerate Lenovo's moves to expand beyond its traditional PC business, said Peter Hortensius, a senior vice president.

"We see a transformation coming for our company from just being a PC company to being a mobile device, PC and enterprise server company," said Hortensius in a phone interview. "This provides another strong leg for that strategy."

Lenovo has its own server business but Hortensius said it is less than one-fifth the size of the IBM Corp. unit. He said the acquisition will move Lenovo ahead five years in its plan to expand in servers, raising its global ranking among suppliers from No. 6 to No. 3 and increasing its share of global server sales from 2 percent to 14 percent.

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Conman-turned-pastor convicted of cheating church PDF  | Print |  E-mail
Written by Associated Press   
Thursday, 23 January 2014 07:18

SAN DIEGO (AP) — A man who went from teenage millionaire to convicted con artist to professional fraud fighter and pastor was convicted Wednesday of cheating his San Diego church congregation out of some $3 million.

Barry Minkow pleaded guilty to embezzling funds from the San Diego Community Bible Church, a U.S. attorney's statement said. He was already serving a five-year sentence for a securities fraud conviction in Florida and could get five additional years when he is sentenced for the new conviction April 7.

Under the plea, Minkow admitted that he opened unauthorized church bank accounts, forged signatures on checks and used member donations for personal benefit.

"Barry Minkow is again convicted of fraud, this time for stealing money from the parishioners of San Diego Community Bible Church," U.S. Attorney Laura Duffy said. "We stand vigilant against those who cheat and steal without regard to the consequences wrought on their victims and their communities."

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