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GE sells Japanese loans business for $5bn
The sale of the US giant's Japanese loan, credit card and mortgage business is the latest sell off by GE, which has been looking to dispose of mature businesses to concentrate on long-term growth.
GE has been under pressure to reduce its diverse offering, which spans credit cards to jet engines to television broadcasting, after reporting an unexpectedly disappointing 5.8 per cent profits decline in the first quarter. Profits were down in four of GE's six units, with the financial services division suffering particularly badly in the wake of the credit crunch.
The sale of the Japanese consumer finance business will complete by the end of September and includes the Lake personal loan business, and wholly-owned credit cards and mortgages sold under the GE consumer finance brand and subsidiaries. more
Applied Materials to Hold Third Quarter FY 2008 Earnings Call on
SANTA CLARA, Calif., Jul 28, 2008 (BUSINESS WIRE) ----Applied Materials, Inc. (Nasdaq:AMAT) will hold its quarterly earnings call to discuss its results for the third quarter of fiscal 2008 and its business outlook on Tuesday, August 12, 2008, at 4:30 p.m. ET (1:30 p.m. PT).
A live webcast of the earnings call will be available on Applied Materials' website at: http://www.appliedmaterials.com/investors/index.html. Replays and an audio/MP3 will be available beginning Tuesday, August 12 at 8:00 p.m. ET (5:00 p.m. PT), and ending Tuesday, August 26 at 8:00 p.m. ET (5:00 p.m. PT).
Applied Materials, Inc. is the global leader in Nanomanufacturing Technology(TM) solutions with a broad portfolio of innovative equipment, service and software products for the fabrication of semiconductor chips, flat panels, solar photovoltaic cells, flexible electronics and energy efficient glass. more
Brand's departure strictly business
Elton Brand's decision to bolt Los Angeles for Philadelphia leaves the Clippers in a mess, and delivers another blow to their forlorn fan base.
One can only imagine the anger being vented on L.A. sports talk radio and Clippers fan blogs:
"Brand disloyalty!"
"Another Carlos Boozer!"
"We got Falked!"
At first glance, it does appear that Brand (and agent David Falk) pulled a fast one on the Clips. After all, when he opted out of the last year (and $16.4 million) of his contract to become a free agent, Brand stated publicly that he intended to re-sign with the Clippers. Falk seemed to indicate his client would even take less money if it meant playing for a winning situation, citing Brand's admiration for the unselfish, veteran-laden Celtics after having attended Game 2 of the NBA Finals. more
New business satisfies Chester’s pizza cravings
Harlow Galbreath's new restaurant, State Line Pizza, has been satisfying those pizza cravings since the business opened May 26. State Line Pizza is located at 503 Minnesota Street in the back of NE Iowa Liquidators in downtown Chester. The restaurant offers both take-out and a small dine-in area every Tuesday through Sunday. Owning a restaurant is new for Galbreath, but running a business is not. He purchased the NE Iowa Liquidators building in 2004 and has owned and operated the business in Chester for the past four years. Prior to the move, his business was located in Harmony, Minn. The Chester man is not a newcomer to the restaurant industry. He got his start in the business in the 1960s, snagging a job as a salad boy at the Thunderbird Motel in Bloomington, Minn. and eventually working his way up to a job as a chef. more
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