Business

Foxconn cancels Indonesian plans

Tindonessaaiwan’s Foxconn has cancelled plans to invest in a huge factory in Indonesia.

Foxconn said last year it may invest $1 billion in Southeast Asia’s biggest economy.

However it looks like the scheme had to be abandoned over land rights.  The Indonesian Chamber of Commerce and Industry Chairman Suryo Bambang Sulisto  said that the company’s broader expansion plan in Indonesia looked unlikely.… Read the rest

Toshiba: the nightmare continues

ToshibaToshiba was supposed to announce its annual financial results today but that was not to be because it has discovered extra accounting errors to compound the “errors” that caused a change of management to the top.

Toshiba delayed its financial results in March after accounting discrepancies forced the management to be replaced by a fresh team of unsullied people were voted on to its board.… Read the rest

Salesforce does better than expected

SalesforceSalesforce.com reported better than expected quarterly revenue and profit, helped by an increase in demand for its Web-based sales and marketing software.

The outfit raised its revenue forecast for the full year for the third time.

Shares rose about four percent in extended trading as the online sales software outfit predicted that current quarter revenue and adjusted profit above the average analyst estimates.… Read the rest

Intel’s internet of things notion is bonkers

Intel's Gordon Moore and Robert NoyceApparently Intel used the second day of its developer forum to attempt to convince the world and its dog that it knows all about the internet of things (IoT).

Well, it just doesn’t have an earthly or a clue.  INTC is showing every sign of being a has been rather than a here and now company.… Read the rest