Japan's Renesas Electronics Corp would close its system LSI chip plant due to the decreasing popularity of game consoles.
North America
Penske Automotive Group acquires Western Star Trucks Australia
Penske Automotive Group said that they are set to acquire Western Star Trucks Australia for US$200 million.
Rothschild and Moelis & Co to handle Publicis & Omnicom deal
Publicis and Omnicom hired New York based Moelis & Co and the Paris-based adviser Rothschild for their merger.
Apple faces mid-range smartphone showdown
ABI Research said that Apple would soon face market share rivalry with several Chinese low-cost smartphone manufacturers.
Facebook makes capital investments worth US$1.6 billion this year
Facebook would make its capital investments worth US$1.6 billion in 2013 to capitalize on the number of its users and its mobile advertising base.
Latest News
Mark Zuckerberg, co-founder and CEO of Facebook said that he plans to earn from Instagram through advertisements.
The US FTC updated its 2012 advertising guidelines and sent a letter warning Google, Yahoo, Microsoft, and other internet search companies to follow or be fined.
Analysts said that there are several ways by which Apple could ease the concerns regarding the company's lack of growth.
LifeChurch.tv's bible app recorded 100 million downloads this month and raised US$60 million for the app's development.
Google discontinued its Chromecast-Netflix subscription promo after receiving "overwhelming demand".
Analysts stated that Facebook could earn three times more than its reported second quarter income by allowing users to pay for an ad-free experience.
Analysts stated that Netflix must continue to make its own content so that it could trump HBO and Amazon.com
Google lost its proposal to delay the proceedings regarding a London antitrust case filed by Foundem.
A report from Xconomy stated that Apple pulled together a new engineering team that would create its own proprietary voice recognition technology for Siri.
