BUSINESS NEWS MARCH 31ST, 2016
MCDONALD’S EYES GREATER RESTAURANT EXPANSION IN ASIA
McDonald's has set its sights on Asia, with the hope of adding more than 1,500 new restaurants in China, Hong Kong and South Korea within the next five years, the popular fast food chain announced Thursday. The company already has more than 2,800 of their restaurants located in the three markets put together — the majority of which are company-owned — however, the U.S. firm hopes the additional outlets will help drive McDonald's future growth initiatives. The global food retailer has over 36,000 locations in more than 100 countries worldwide. In its largest market, the U.S., McDonald's has over 14,000 restaurants and generates some 32 percent of its global revenue, according to its website.
GE CAPITAL: WE'RE NOT TOO BIG TO FAIL ANYMORE
General Electric Co's GE Capital financing arm on Thursday asked the U.S. government to stop designating it as a "systemically important financial institution," a label for companies considered "too big to fail," now that it has less influence on the U.S. economy. GE Capital Chief Executive Officer Keith Sherin said in a statement that the unit had shrunk to the point where it no longer meets the criteria for the designation, which can trigger possible requirements for stricter oversight and holding more capital. The application came the day after a federal judge struck down the designation of MetLife Inc , but GE Capital said the two events were unrelated.
FOXCONN’S ACQUISITION: REDUCE APPLE’S DEPENDENCE ON SAMSUNG
With its acquisition of Japan's Sharp Corp, Foxconn aims to gain access to promising technology for high-end OLED screens likely to be used in future devices from Apple Inc , the electronics assembler's biggest customer. But even with Foxconn's backing, Sharp faces a tough challenge to catch up with rivals already looking ahead to more advanced display panels such as 'foldables'. And industry experts also say Chinese display makers such as BOE Technology Group and Tianma Microelectronics are, in turn, fast catching up on OLED, or organic light emitting diode, technology.
FOREIGN INVESTORS TAKE OUT RS 18,000 CRORE FROM INDIAN IN FY16
In the first outflow of overseas funds from Indian capital markets in seven years, foreign portfolio investors (FPIs) took out an estimated amount of Rs 18,000 crore during fiscal 2015-16. This is also only the third time since foreign portfolio investors began investing in Indian markets in 1992 that they have turned net sellers for an entire financial year. As per the market data, the net outflow during the fiscal ended today would have been more than double, but buying spree resumed in the last month. FPIs are estimated to have infused a net amount of nearly Rs 20,000 crore (about USD 3 billion) during March.