–The Wall Street Journal reports that the Lamborghini Urus sport-utility concept recently made its debut at the Beijing Motor Show, with reviewers calling it “the spawn of a Porsche Cayenne and Range Rover Evoque”. The 600-horsepower all-wheel-drive vehicle, which Lamborghini calls the “ultimate super athlete in the SUV segment,” is in part an answer to other high-powered European SUVs like the Cayenne Turbo and BMW X6 M. But even the souped-up Cayenne falls 100 horsepower short of the mark set for the Urus. But perhaps the biggest news regarding the Urus unveiling is that the Italian unit of the German auto giant Volkswagen AG said the market for the vehicle could reach 3,000 units. Target markets include the U.S., United Kingdom, Germany, Russia, the Middle East and China. Lamborghini said it expects the worldwide market for luxury SUVs to only continue to grow.
–Bloomberg reports that Nestle, the world’s largest food company, agreed to buy Pfizer’s infant-nutrition unit for $11.9 billion, barely edging out Danone’s bid of $11 billion, in a contest for a business that gets most of its sales in fast-growing emerging markets.The purchase will lead to annual cost benefits of $160 million and will boost earnings per share in the first full year, stated Nestle Chief Executive Officer Paul Bulcke. The Pfizer unit will increase Nestle’s sales of infant formula to $7 billion a year.
–Reuters reports, that Britain’s media regulator Ofcom launched an investigation on Monday into Sky News, the influential news channel of Rupert Murdoch’s BSkyB, which has admitted to hacking into emails to generate a story. Sky News has said it sanctioned the practice because it believed the story was in the public interest, and the company shared the aqcuired information with police and helped to secure a criminal conviction. However, the admission of hacking was seen as potentially damaging to the successful channel as BSkyB is 39 percent-owned by Murdoch’s News Corp, which has itself been convulsed by a phone hacking scandal at its British newspaper arm. As a result, Ofcom is already looking closely at parent company BSkyB as to whether its owners and directors are fit to own a broadcast license. BSkyB declined to make an immediate comment but the head of Sky News, John Ryley has previously used his blog to say that he stood by his decision to give approval for the email hacking to go ahead.
–The Wall Street Journal reports that the Lamborghini Urus sport-utility concept recently made its debut at the Beijing Motor Show, with reviewers calling it “the spawn of a Porsche Cayenne and Range Rover Evoque”. The 600-horsepower all-wheel-drive vehicle, which Lamborghini calls the “ultimate super athlete in the SUV segment,” is in part an answer to other high-powered European SUVs like the Cayenne Turbo and BMW X6 M. But even the souped-up Cayenne falls 100 horsepower short of the mark set for the Urus. But perhaps the biggest news regarding the Urus unveiling is that the Italian unit of the German auto giant Volkswagen AG said the market for the vehicle could reach 3,000 units. Target markets include the U.S., United Kingdom, Germany, Russia, the Middle East and China. Lamborghini said it expects the worldwide market for luxury SUVs to only continue to grow.
–Bloomberg reports that Nestle, the world’s largest food company, agreed to buy Pfizer’s infant-nutrition unit for $11.9 billion, barely edging out Danone’s bid of $11 billion, in a contest for a business that gets most of its sales in fast-growing emerging markets.The purchase will lead to annual cost benefits of $160 million and will boost earnings per share in the first full year, stated Nestle Chief Executive Officer Paul Bulcke. The Pfizer unit will increase Nestle’s sales of infant formula to $7 billion a year.
–Reuters reports, that Britain’s media regulator Ofcom launched an investigation on Monday into Sky News, the influential news channel of Rupert Murdoch’s BSkyB, which has admitted to hacking into emails to generate a story. Sky News has said it sanctioned the practice because it believed the story was in the public interest, and the company shared the aqcuired information with police and helped to secure a criminal conviction. However, the admission of hacking was seen as potentially damaging to the successful channel as BSkyB is 39 percent-owned by Murdoch’s News Corp, which has itself been convulsed by a phone hacking scandal at its British newspaper arm. As a result, Ofcom is already looking closely at parent company BSkyB as to whether its owners and directors are fit to own a broadcast license. BSkyB declined to make an immediate comment but the head of Sky News, John Ryley has previously used his blog to say that he stood by his decision to give approval for the email hacking to go ahead.