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Samsung Heavy Industries wins 1.3 tln won order in Oceania

SEOUL, April 9 (Yonhap) -- South Korea's Samsung Heavy Industries Co. said Wednesday it has clinched a 1.3 trillion won (US$1.2 billion) deal with a shipper in Oceania to build two drill ships. Samsung Heavy Industries plans to deliver the vessels to the shipper by the end of June 2017, the company said in a regulatory filing. The contract amount is equivalent to 9 percent of the company's total sales last year.

Top firms expand workforce despite sluggish earnings

SEOUL, April 6 (Yonhap) -- South Korea's top companies hired more workers in 2013 than a year earlier despite sluggish earnings amid the prolonged slowdown in the global economy, data showed Sunday. The country's top 100 firms in terms of revenue saw their number of workers reach a combined 745,098 as of end-2013, up 2.4 percent, or 17,669, from a year earlier, according to the data compiled by market researcher CEO Score. The tallied companies, however, saw their sales edge up only 2.8 percent, and their operating profit also remained sluggish, rising 0.3 percent on-year.

S. Korea quickly catching up to Taiwan in UHD

SEOUL, March 28 (Yonhap) -- South Korea rapidly expanded its presence in the global Ultra HD (UHD) industry over the past six months, data showed Friday, narrowing its gap with Taiwan, which garners around half of the market. The Asia's fourth-largest economy took up 33.2 percent of the global UHD market in February, advancing sharply from the 6.2 percent posted in July last year, according to the data compiled by industry researcher DisplaySearch.

Media General to buy LIN in $2.6 bn US broadcast deal

US broadcaster Media General said Friday it will buy LIN Media in a $2.6 billion deal that creates the nation's second-largest television broadcasting company and a digital media powerhouse. The merged company will own and operate or service 74 television stations across 46 markets, and serve some 26.5 million households, or 23 percent of the US market, Media General said in a statement. The stock-and-cash merger pays about LIN $27.82 per share, a 28 percent premium for the multimedia company.

Twenty-First Century Fox posts 49 pct drop in fiscal 2nd-quarter profit on acquisition costs

NEW YORK, N.Y. - Twenty-First Century Fox said Thursday that its fiscal second-quarter net income dropped 49 per cent, largely as a result of acquisition costs, but still matched Wall Street predictions. The media entertainment giant controlled by Rupert Murdoch also posted significantly higher-than-expected revenue, helped by its acquisition of a controlling stake in German satellite TV operator Sky Deutschland AG in January 2013.

Sony cuts 5,000 jobs, exits PC business and tips $1 bn loss

Sony on Thursday warned it would book a $1.08 billion annual loss and cut 5,000 jobs while exiting the stagnant PC market this year as the once-mighty electronics giant struggles to reinvent itself in the digital age. The shock news comes a week after Moody's downgraded the firm's credit rating to junk, saying the maker of Bravia televisions and the PlayStation games console had more work to do in repairing its battered balance sheet.

Liberty, Discovery seek to buy 49 percent stake in Formula One: paper

(Reuters) - Liberty Global and Discovery Communications have made a joint approach to CVC Capital about buying a 49 percent stake in Formula One, the Telegraph reported, without citing sources. The talks are at an early stage but could value the auto-racing company at more than 6.5 billion pounds ($10.62 billion), the paper said on its website. (

Samsung's spending on ads tops 2.8 tln won in 2012

SEOUL, Jan. 27 (Yonhap) -- Samsung Electronics Co., the world's largest maker of smartphones, spent some 2.8 trillion won (US$2.59 billion) on advertisements in 2012, data showed Monday, the largest among local businesses. The South Korean tech giant's spending accounts for some 14.41 percent of the combined 19.2 trillion won spent by 482,574 registered companies in the country, the data by market researcher showed.

LG Display earns 1 tln operating profit in 2013

By Kang Yoon-seung SEOUL, Jan. 23 (Yonhap) -- South Korean panel giant LG Display Co. said Thursday its operating profit for 2013 improved on-year to above 1 trillion won (US$931 million). The firm's operating profit for 2013 came to 1.16 trillion won, up 27.5 percent from the 912 billion won posted a year earlier, LG Display said in a regulatory filing. It marked the first time in three years that the company posted an operating profit above the 1 trillion won mark.

GE profit rises, helped by oil and gas business

(Reuters) - General Electric Co <GE.N> posted a rise in quarterly net profit on Friday, helped by strength in its businesses selling oil pumps and gas turbines. The U.S. conglomerate said net earnings rose to $4.2 billion, or 41 cents per share, from $4.01 billion, or 38 cents a share, a year earlier. (Reporting by Lewis Krauskopf; Editing by Lisa Von Ahn)
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