Consumer Reports criticizes reliability of Tesla Model S

21 Oct 2015 | Author: | No comments yet »

ARM Sales Beat Estimates as Chip Designs Win Higher Prices.

The closure of Kenya’s Imperial Bank Ltd. last week won’t deter Citigroup Inc. from investing in the country, an executive of the U.S-based lender said. “It’s an isolated incident,” Joyce-Ann Wainaina, head of Citigroup in East Africa, said during an interview in Dubai on Tuesday. “I don’t think this is an industrywide issue.” Kenya’s central bank placed Imperial Bank under statutory management last week because of “unsafe or unsound business conditions.” In August, Dubai Bank Kenya Ltd. was put under receivership after it breached daily cash-reserve-ratio requirements. Proximus SA, Belgium’s biggest telephone company, agreed to pay mobile operators Mobistar SA and Base Company NV 120 million euros ($136 million) to end 12 years of litigation about abusive pricing in the period 1999 through 2004.ARM Holdings Plc, the chip designer whose products appear in almost all of the world’s smartphones, reported third-quarter revenue that beat analysts’ estimates as it won customers for newer, more expensive technology. While the bank failures have roiled Kenya’s stock market, the Washington-based International Monetary Fund is projecting economic growth of 6.5 percent this year and 6.8 percent next year.

The latest software update, 7.0 allows Model S to use its unique combination of cameras, radar, ultrasonic sensors and data to automatically steer down the highway, change lanes, and adjust speed in response to traffic. Petersburg-based retailer backed by U.S. buyout firm TPG Capital, completed a $275 million share placement, the biggest share sale by a Russian company in almost two years. Global financial institutions including Old Mutual Plc and JPMorgan Chase & Co. want to build and expand operations in the East African country to profit from the growth in Kenya and the region. “Kenya is very much the center or connected with the rest of East Africa, so if you’re growing in Kenya, then that to us, by default, means that Uganda, Tanzania are naturally going to be countries of focus,” she said. “East Africa is a key area for us and our growth.” Royal KPN NV, which is in the process of selling Base to Liberty Global Plc’s Telenet Group Holding NV, said in a separate statement it will be entitled to most of the settlement proceeds for Base. The settlement will cost state-controlled Proximus about 26 percent of its 2015 cash generation that’s available for shareholder distributions after capital spending, based on analyst projections compiled by Bloomberg.

Along with the new Autopilot features, the instrument cluster’s new driver-focused design shows the real-time information the car uses to intelligently determine the vehicle’s behavior in that moment relative to its surroundings. The phone company hadn’t made any provisions for potential damages, which reflected the company’s legal position that there was no wrongdoing, Chief Executive Officer Dominique Leroy said on Feb. 27. “The lawsuit liability overhang will outweigh the cash impact,” Ruben Devos, an analyst at KBC Securities, wrote in a note to clients on Wednesday. “Recall that initially estimates of a total damage claim amounted to nearly 1.8 billion euros, whereas Proximus lost 640 million euros in market value on the day that the Brussels appeals court announced that it would further examine the market abuse.” The settlement agreement is without any harmful recognition and translates the willingness of the parties to put an end to litigation proceedings, according to the joint statement. The instrument panel provides a visualization of the road as detected by the car’s sensors, giving drivers the information their car is using for features including lane departure, blind spot detection, speed assist, collision warning, adaptive cruise, and autosteer.

As large food retailers continue to boost sales and expand market share amid a recession, Lenta’s $225 million offering in March and rival Magnit PJSC’s $143 million offering in February have been among Russia’s largest this year. These more powerful chips are found in newer devices that need to process more information, such as Apple Inc.’s iPhone 6 and Samsung Electronics Co.’s S6, and may ultimately end up in half of all smartphones, ARM has said. Using a variety of measures including steering angle, steering rate and speed to determine the appropriate operation AutoSteer assists the driver on the road, making the driving experience easier.

Changing lanes when Autosteer is engaged is simple: engage the turn signal and Model S will move itself to the adjacent lane when it’s safe to do so. Lenta cut its 2015 sales growth target to 29 to 33 percent on Oct. 16 from an earlier forecast of 34 to 38 percent, citing the volatile consumer and economic environments. Side Collision Warning further enhances Model S’s active safety capabilities by sensing range and alerting drivers to objects, such as cars, that are too close to the side of Model S.

Newly appointed Chief Financial Officer Chris Kennedy said last month that ARM will increase its investment in technologies for the “Internet of things” and servers to win market share in industries beyond the smartphone market. Licensing sales, which ARM records when a company agrees to develop a product based on its technology and an indicator of future royalties, gained 2 percent to $145.1 million as the company won contracts for sensors to go into the Internet of things, smartphones and servers. Still, that was accompanied by a 14 percent drop in licenses for physical IP, the technology that helps chipmakers implement designs, which partially offset growth in licensing for its processors. ARM’s annual royalty revenue growth rate will stay in the 17 percent range “in the medium term” as its technology for 64-bit phones becomes more widely deployed and as phones overall become more technologically advanced, Kennedy said on a conference call Wednesday. The company said it expects revenue in dollars for the full year to be “in line with market expectations.” While growth in royalties has been strong, “licensing revenue has been at the lower end of our range,” Segars said.

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