Huawei to Focus on Higher-End Smartphones

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Huawei Technologies is focusing on selling more higher-end smartphones, a senior executive said, as it braces for tougher competition from low-cost Chinese vendors such as Xiaomi.

EasyJet Sales Rise

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EasyJet said first-quarter sales grew 3.8% and that revenue-per-seat sold will be stronger in the first six months than expected as the budget airline also benefits from lower than projected fuel costs.

Facebook Back Online After Outage

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Social media platform Facebook and photo sharing app Instagram were inaccessible for about 45 minutes Tuesday.

Ericsson Hurt by North American Slowdown

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Ericsson reported a weaker-than-expected net profit for the fourth quarter, hurt by a slowdown in spending by network operators in North America.

AGL Halts Gas Project

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AGL Energy Ltd. suspended a coal seam-gas project in Australia’s New South Wales state after detecting potentially hazardous levels of chemicals in surrounding groundwater.

Aer Lingus Set to Recommend IAG Takeover

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British Airways parent International Consolidated Airlines Group said the board of Aer Lingus is ready to recommend a sweetened takeover offer for the Irish carrier.

Siemens Hurt by Weak European Economy

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German engineering company Siemens said net profit declined nearly 25% in the first quarter, hurt in part by a weakening European economy and the slide in global oil prices.

Philips Profit Plunges

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Philips reported a 67% drop in fourth-quarter net profit and the Dutch electronics maker warned that it is behind on its financial targets.

Novartis Profit Falls

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Novartis reported a 26.5% drop in fourth-quarter profit as declining sales weighted on the Swiss drug company’s performance.

Fuel-Price Plunge Lifts Asian Carriers

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Asian airlines are seeing a strong boost in profitability due to the slump in oil prices, because they are typically more exposed to fuel-price swings compared with their counterparts world-wide.

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