News Article | May 24, 2017
Huge public companies still prospered this past year despite wild swings between market uncertainty and volatility, punctuated by unexpected political outcomes. The 2017 Global 2000 is bigger and more valuable in the aggregate than last year's list, with higher sales, profits, assets and market values. The list as a whole is significantly more valuable from the year prior, with aggregate market capitalization up 10%. Here's how we crunched the numbers. Despite slowing GDP figures, China and the U.S., whose companies make up more than 40% of the list, continue to dominate the top 10 list with financial giants including #1 Industrial and Commercial Bank of China (ICBC) and #4 JPMorgan Chase. China’s two-year stronghold of the top 3 spots was disrupted this year with Warren Buffett’s Berkshire Hathaway snagging the third spot, another signal that U.S. companies didn’t suffer terribly from market uncertainty that defined the year, as Berkshire owns many other American staple stocks. The FORBES Global 2000 ranking is based on a composite score from equally-weighted measures of revenue, profits, assets and market value. The 2017 list features public companies from 58 countries that together account for $35.3 trillion in revenue, $2.5 trillion in profit, $169.1 trillion of assets, and have a combined market value of $48.8 trillion. All four metrics are up from the 2016 ranking, with market capitalization up 10% from last year. Despite a slowing of the global IPO market, several newly-public companies debuted on this year's list. The biggest newcomer at No. 55 is Postal Savings Bank of China. The September 2016 IPO was the year’s largest, worth $8.1 billion. In the U.S., the most high-profile company to enter the list was Snap Inc. The company’s $24 billion market cap helped earn a spot at No. 1693. U.S. companies account for the most members of the list, 565, followed by China and Hong Kong, which is home to 263 Global 2000 companies. The world’s biggest companies have gotten bigger, more profitable and more valuable in the past year. 58 countries were represented, down from last year's 62 with Cyprus, Kazakhstan, Romania and Malta no longer boasting companies on the list. It wasn’t a good year for energy companies that fought against rock-bottom petroleum prices. Exxon Mobil fell 4 spots to #13, PetroChina fell off the top 10 to #102, and Chevron slipped to#359 from last year's #28 position. One big gainer this year is Charter Communications (#107), which climbed 677 spots by buying Time Warner, #214 last year, knocking it off the list. General Electric climbed 54 spots to #13 and #83 Amazon broke into the top 100 from its previous rank of #237. Alibaba also moved up the list to #140. Some major names absent from the list were either acquired by another company or performed poorly and ranked under the #2000 position. Notable drop-offs include SABMiller, which was acquired by #126 Anheuser-Busch InBev. Western Digital bought #1266 SanDisk and Marriot acquired Starwood Hotels & Resorts which was #1214 last year. Chipotle, which suffered a terrible stock price after their food poisoned customers, also fell off the list. Casino giant Caesars Entertainment Corporation, #1198 last year, got knocked off too. For more coverage of the FORBES Global 2000 ranking of the world’s largest public companies, see below: Global 2000: The Largest Companies In China In 2017 2017 Global 2000: These Are The Largest Companies In Russia Here's How Much Of Russia's Biggest Banks And Drillers The Kremlin Owns World's Largest Retailers 2017: Amazon & Alibaba Are Closing In On Wal-Mart World's Largest Food And Beverage Companies 2017: Nestle, Pepsi And Coca-Cola Dominate The Field
News Article | May 9, 2017
FILE PHOTO: The logo of Toshiba is seen as a shareholder arrives at Toshiba's extraordinary shareholders meeting in Chiba, Japan March 30, 2017. REUTERS/Toru Hanai/File Photo TOKYO (Reuters) - Toshiba Corp <6502.T> has told Western Digital Corp not to interfere in the sale of its prized chip unit, rejecting claims it has breached a joint venture contract and threatening legal action. The clash between Toshiba and Western Digital - both its business partner and one of the bidders for the chip unit - risks delaying or even quashing an auction that the Japanese conglomerate is depending on to plug a $9 billion hole in its accounts. Although the two companies jointly operate Toshiba's main semiconductor plant, Western Digital is not seen as a favoured bidder for the world's second biggest NAND chip producer, having put in a much lower offer than other suitors, sources with knowledge of the matter have said. The U.S. firm has argued the Japanese company is violating their contract by transferring their joint venture's rights to the newly formed unit and has asked for exclusive negotiating rights. Chief Executive Steve Milligan is currently visiting Japan to press its case. But in a May 3 letter sent by Toshiba's lawyers, the TVs-to-nuclear conglomerate disputed Western Digital's argument and said it would pursue all available remedies if it saw continued interference in the sale process. Western Digital's "campaign constitutes intentional interference with Toshiba's prospective economic advantage and current contracts. It is improper, and it must stop," the letter, which was seen by Reuters on Tuesday, said. In a separate letter, also dated May 3, the general manager of Toshiba's legal affairs accused Western Digital of failing to sign some joint venture agreements. If Western Digital refuses to sign by May 15, the chip unit would protect its intellectual property rights by suspending Western Digital employees' access to all of the unit's facilities, networks and databases, the letter said. A Western Digital spokeswoman in Japan declined to make immediate comment. For some analysts, Western Digital has the upper hand. "From a commonsense standpoint, it's hard to buy Toshiba's argument that it doesn't need approval from its JV partner because it's almost a 50-50 joint venture," said Masahiko Ishino, an analyst at Tokai Tokyo Research Center. Toshiba in its letter says that under the joint venture agreement neither party can block a change of control by the other partner, stating that Western Digital itself acquired the joint venture interest when it bought SanDisk and never sought or received Toshiba’s approval. Toshiba believes that a consortium of U.S. private equity firm KKR & Co LP and Japanese government-backed investors would be the most feasible solution, a source familiar with the matter said this week. Such a sale could eventually allow the chip unit - which Toshiba values at at least 2 trillion yen ($17.6 billion)- to aim for an IPO and keep the technology in Japan, the source said. KKR and state-backed Japan Innovation Network Corp are expected to submit a joint offer in the second round of bidding. Other suitors are Taiwan-based Foxconn <2317.TW>, U.S. chipmaker Broadcom Ltd , which has partnered with private equity firm Silver Lake Partners LP, as well as South Korea's SK Hynix Inc <000660.KS>. But Western Digital has vehemently said it is opposed to a deal with Broadcom. Other suitors could also be blocked by the Japanese government which has vowed to prevent any deal that could allow the transfer of sensitive technologies and represent a risk to national security. The source also said that Toshiba plans to report full-year results this month without an endorsement from its auditor - its second such earnings report - as disagreements over its books are unlikely to resolved. The move puts the troubled Japanese conglomerate's bourse listing in further jeopardy, after it submitted twice-delayed third-quarter results without approval from PricewaterhouseCoopers Aarata (PwC) last month. Toshiba has been on the Tokyo stock exchange's supervision list since mid-March as it has failed to clear up concerns about its internal controls after a 2015 accounting scandal. PwC has been questioning the numbers at nuclear unit Westinghouse - the root cause of Toshiba's current crisis - and is looking not only at recent results, but also probing the books for the U.S. unit for the year through March 2016, sources have said.
News Article | May 11, 2017
DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "The Hard Disk Drive (HDD) and Solid State Drive (SSD) Industries: Market Analysis and Processing Trends" report to their offering. This report focuses on the entire hard disk drive market food chain, analyzing the markets for hard disk drives, substrates, and thin film heads. Processing issues in the manufacture of each of these sectors in included and the report details the CMP and Lithography sectors of thin film head processing. Market forecasts and market shares of all sectors are detailed. The SSD market is also analyzed. Hard drive manufacturers Seagate Technology and Western Digital face an uphill battle in attempting to sustain sales of traditional rotating-disk drives in the coming years. It all comes down to the price. SSD prices have been falling drastically in the last few years as demand has picked up. Prices are likely to continue to drop in the coming years, thereby posing a major threat to hard drive makers such as Seagate and Western Digital. Samsung leads the pack of SSD manufacturers with a commanding 40% share in the SSD market. For more information about this report visit http://www.researchandmarkets.com/research/8l4vfx/the_hard_disk
News Article | May 13, 2017
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News Article | May 14, 2017
TOKYO (Reuters) - Western Digital Corp has sought international arbitration to stop partner Toshiba Corp from selling its chips arm without its consent, potentially derailing a much-needed capital injection for the Japanese conglomerate.
News Article | May 14, 2017
SAN JOSE, Calif.--(BUSINESS WIRE)--Western Digital Corp. (NASDAQ:WDC) today announced that several of its SanDisk subsidiaries have filed a Request for Arbitration with the ICC International Court of Arbitration related to three NAND flash-memory joint ventures (“the Flash JVs”) operated with Toshiba Corporation (“Toshiba”). The arbitration demand seeks among other things an order requiring Toshiba to unwind the transfer to Toshiba Memory, and injunctive relief preventing Toshiba from further breaching the Flash JV agreements by transferring its Flash JV interests, or any interest in an affiliate that holds its Flash JV interests, without SanDisk’s consent. Per the provisions of the joint venture agreements, the arbitration will take place in San Francisco, California. Western Digital chief executive officer Steve Milligan stated, “The Flash JVs have been operated with Toshiba for the past 17 years and have been highly successful for the JV partners and for Japan. We continue to be actively engaged in discussions with Toshiba’s stakeholders to ensure that they are fully aware of our joint venture rights and of our desire to work with Toshiba to achieve a favorable outcome for all parties. We firmly believe that we provide Toshiba with the optimal solution to address its challenges, and that we are the best partner to advance its legacy of technology innovation in Japan.” Milligan added, “Joint ventures are inherently intimate commercial relationships, and in order to protect against being forced into such a relationship with parties not of their choosing, SanDisk and Toshiba agreed to protect their interests in the joint ventures by prohibiting transfers without the consent of the other party. Toshiba’s attempt to spin out its joint venture interests into an affiliate and then sell that affiliate is explicitly prohibited without SanDisk’s consent. Seeking relief through mandatory arbitration was not our first choice in trying to resolve this matter. However, all of our other efforts to achieve a resolution to date have been unsuccessful, and so we believe legal action is now a necessary next step. We are confident in our ability to protect our rights and interests and to improve our value creation opportunities.” On or around April 1, 2017, Toshiba purportedly transferred its joint venture interests to a subsidiary, Toshiba Memory, as part of an open auction to sell its joint venture interests to a third party. Western Digital believes that these actions clearly violate the anti-transfer provisions of the joint venture agreements. Under the joint venture agreements, these transfers require SanDisk’s consent. SanDisk did not consent to the transfer to Toshiba Memory, and Toshiba has now repudiated any intention to obtain SanDisk’s consent before selling Toshiba Memory to the winning bidder of the auction. Western Digital is an industry-leading provider of storage technologies and solutions that enable people to create, leverage, experience and preserve data. The company addresses ever-changing market needs by providing a full portfolio of compelling, high-quality storage solutions with customer-focused innovation, high efficiency, flexibility and speed. Our products are marketed under the HGST, SanDisk and WD brands to OEMs, distributors, resellers, cloud infrastructure providers and consumers. Financial and investor information is available on the company's Investor Relations website at investor.wdc.com. This news release contains certain forward-looking statements, including statements concerning the Flash JVs, SanDisk’s rights under the joint venture agreements and SanDisk’s actions in response to Toshiba’s transfer of its Flash JV interests. There are a number of risks and uncertainties that may cause these forward-looking statements to be inaccurate including, among others: uncertainties with respect to the company's business ventures with Toshiba; volatility in global economic conditions; business conditions and growth in the storage ecosystem; impact of competitive products and pricing; market acceptance and cost of commodity materials and specialized product components; actions by competitors; unexpected advances in competing technologies; our development and introduction of products based on new technologies and expansion into new data storage markets; risks associated with acquisitions, mergers and joint ventures; difficulties or delays in manufacturing; and other risks and uncertainties listed in the company's filings with the Securities and Exchange Commission (the "SEC"), including the company's Form 10-Q filed with the SEC on May 8, 2017, to which your attention is directed. You should not place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances. Western Digital, WD and SanDisk are registered trademarks or trademarks of Western Digital Corporation or its affiliates in the U.S. and/or other countries. Other trademarks, registered trademarks, and/or service marks, indicated or otherwise, are the property of their respective owners. © 2017 Western Digital Corporation or its affiliates. All rights reserved.
News Article | May 9, 2017
TOKYO (Reuters) - Toshiba Corp has told Western Digital Corp not to interfere in the sale of its prized chip unit, rejecting claims it has breached a joint venture contract and threatening legal action.
News Article | May 9, 2017
Tokyo-based Toshiba Corp. needs cash from such a sale to shore up its finances after it suffered massive losses in its nuclear power division. Toshiba warned Western Digital to stop interfering, according to letters obtained Tuesday by The Associated Press. The letters from the company's lawyers, dated May 3, accused Western Digital of "improper" interference. Western Digital bought SanDisk, Toshiba's longtime partner in making flash memory chips, last year. It has argued the sale might violate terms of the joint venture with Toshiba, according to the letters. Such sales can be sensitive because they involve the transfer of technology. Several companies are reportedly interested in acquiring Toshiba's prized chip-making business. One is Hon Hai of Taiwan, also known as Foxconn, a major supplier to Apple, which has acquired Japanese electronics company Sharp Corp. South Korea's SK Hynix is also reportedly a bidder. The possibility that the flash memory technology Toshiba invented might be acquired by a foreign buyer has raised some concern in Japan. A Japanese consortium including government-affiliates like the Development Bank of Japan and the public-private Innovation Network Corp. of Japan are said to be preparing a bid with U.S. private equity firm Kohlberg Kravis Roberts. The financial newspaper Nikkei reported last month that Western Digital might join that effort. But Western Digital's chief executive, Steve Milligan, said in an interview with the Japanese broadcaster NHK shown Tuesday that the company was not satisfied with the minority stake it could obtain if it joined with the consortium in buying the chip business. "We're very committed to not only investing here in Japan but making sure that we maintain this critical technology here in Japan, advancing our interest, in the interest of the Japanese people, and ensuring that it doesn't fall into, if you want to call it, inappropriate hands," he said. Toshiba has threatened to restrict the entry of Western Digital to the joint venture facilities from May 15, if Western Digital doesn't change its position by then. Toshiba is projecting a trillion yen ($9 billion) in losses for the fiscal year that ended in March, although auditors have refused to sign off on its earnings report. The company is also embroiled in an accounting scandal. Further raising doubts over its future viability, Toshiba's U.S. nuclear unit Westinghouse Electric Co. filed for bankruptcy protection in March. Four nuclear reactors that Westinghouse is helping to build in South Carolina and Georgia are behind schedule and billions of dollars over budget, as costs soar after the nuclear disaster in Fukushima, northeastern Japan, six years ago.
News Article | May 10, 2017
— Market Highlights Solid State Drive or SSD is a new technology in the data storage and an alternative to the traditional storage device HDD. SSD performs faster than HDD and currently growing with rapid space. Data centers are the key application area where the SDD can be used. Currently this market has been valued at more than high billion and expected to reach Market. Industry News • In July 2016, Samsung launched world’s largest SSD which has storage capacity of 15 TB. • In April 2016, SanDisk launched Half-Terabyte SDD for everyday computing. • In April 2016, Micron Technology, Inc. announced the increase in product portfolio by adding two PCIe SSDs. “Ask for your specific company profile and country level customization on report.” Request a Sample Report @ https://www.marketresearchfuture.com/sample_request/1028 Market Segmentation Segmentation by Type: SLL (Single Level Cell), MLL (Multi Level Cell) and TLL (Triple Level Cell) Segmentation by Storage Interface: SATA, SAS and PCIe. Segmentation by Storage Capacity: Less than 250 GB, 251GB to 500GB, 501GB to 1 TB and more than 1 TB. Segmentation by Application: PCs, laptops, data centers among others The Key Players of Global Solid States Drives Market • Samsung (South Korea) • Intel (U.S.) • SanDisk (U.S.) • Micron Technology, Inc. (U.S.) • Toshiba (Japan) • Lite-On (Taiwan) • Western Digital (U.S.) • Fusion-Io (U.S.) • Google (U.S.) • Kingston Technology (U.S.) • Netapp (U.S.) • OCZ (U.S.) Taste the market data and market information presented through more than 60 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Solid States Drives (SSD) Market Research Report- Global Forecast 2027”. Brief TOC of Solid States Drives (SSD) Market 1 Executive Summary 2 Market Introductions 2.1 Definition 2.2 Scope of the study 2.2.1 Research Objectives 2.2.2 Assumptions Regional Analysis Currently North America is dominating the market of solid state market. North America has high consumption rate for laptops and desktop and SSDs are the new replacement for hard disks. As it comes with bundle of features and advances that hard disk, market for SSD in North America is growing. Asia-Pacific has emerged as fastest growing market and also the second biggest market for solid state drives. About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. For more information, please visit https://www.marketresearchfuture.com/reports/solid-states-drives-market
News Article | May 11, 2017
Verizon have been building a new cloud platform, announced on October 3 in New York, called the Verizon Cloud. Verizon are already in the cloud business. They run the VMware-based vCloud Express and Enterprise Cloud and they provide managed clouds and private clouds to enterprises. Why does an infrastructure giant like Verizon decide to build a next-generation cloud? The last five years of Verizon cloud Verizon is both an American telecoms giant and a global IT services provider. It turns over billions of dollars and employs most of 200,000 people around the world (for those who do not live in a Verizon part of the globe, Verizon rhymes with horizon). Cloud is not a new venture for Verizon. Gavan Egan, who runs the cloud business for Verizon in Europe, said "We've been in the cloud business for well over 5 years now. Our focus is really on enterprise cloud hence you see that's the branding around a lot of our platforms...Verizon today offers a whole range of cloud and hybrid cloud options - public cloud, private cloud, co-location. We've got 15 data centers around the world where we work this kind of business off". Egan explained how Verizon built up its cloud business. "Verizon bought Terremark nearly three years ago. Verizon had an offering which it had deployed in data centers around the world, and which was very successful in the enterprise space. These were complemented by the acquisitions of Terremark and Cloudswitch." Verizon felt the use of cloud services was limited. Egan described what kind of cloud usage Verizon was seeing from its enterprise customers. "We've got a huge amount of experience running cloud and with the challenges that our customers had in terms of using cloud. Why have companies only put a limited set of types of application on the cloud?" "Today, on all our cloud platforms, 50% of applications are web-facing applications. Another 40% are test-and-dev type applications". Enterprise customers refuse to put many workloads on current public cloud offerings. "We wanted to build a cloud that would broaden the use case for cloud so you want to put more and more on the cloud". Egan said they also want to scale. "Cloud today solves challenges with hundreds of thousands of VMs. We set out trying to solve challenges with millions and tens of millions of VMs". Having decided to expand the usefulness of cloud computing for its enterprise customers, how did Verizon tackle the problem? "Two and a half years ago we started thinking 'OK, what's our next generation cloud?'. At that time, Terremark had always been a leader in terms of functionality in cloud and we wanted to maintain leadership capability there. " Along with maintaining this functionality, Egan said Verizon wanted to improve performance "With the Verizon cloud compute platform you get guaranteed performance in the cloud. We guarantee your performance, in terms of memory, in terms of storage and also in terms of network". Verizon also wants to improve manageability. Current cloud customers "buy cloud in bundles - I want this size bundle, that size bundle. We decided to give customers complete flexibility, in terms of the amount of compute, memory, stores they need to run the different workloads that they require". "We will allow you to set up your workloads on our cloud and then dial the number of IOs you need for that application. Dial up the size of the network you need for that. You dial it up and we will guarantee that you will have access to those resources for the whole time. And you know what, if you don't need them, you just dial them back down". The new Verizon Cloud will target both cloud natives and the traditional IT departments where Verizon has traditionally played. "You will be able to acquire resources on this cloud using a credit card from your home computer. You will be able to contact Verizon to do different types of contract on the cloud. We really opened up in terms of flexibility and the ease of adoption in terms of the cloud platform". Egan said they could not simply ramp up capacity on their existing offerings. "We looked at VMware - who we have a very good partnership with, the Verizon cloud is fully VMware compatible - and to achieve the scale we wanted to, we had to do something different". Everything from the hardware up is new. "We've worked with partners such as SeaMicro, NetApp, HGST from Western Digital. We've invested in driver technology around that hardware". Network administrators get more access using the new Verizon Cloud, because Verizon built on the work of Cloudswitch. "Cloudswitch was an important acquistion because it gave fantastic capability in software. That was really important to us in terms of how we looked at our cloud infrastructure going forward". What difference does CloudSwitch make? "Today most clouds are presented to customers at layer 3. This will be presented at layer 2. You will get full access to layer 2 controls, so you will be able to do your own SDN, create own subnets, and so on - really making this an extension of your own data center". The base of the software stack is a virtualization layer with a modified xen hypervisor at its core. Verizon are talking with partners such as Cloud Foundry and Cloudera about the PaaS layer and other technology they are likely to run. The Verizon Cloud goes into public beta in the next month and into GA sometime next year. If the Verizon plan to expand cloud use works, it could be the beginning of the end for private clouds. Egan thinks "the business case in terms of private cloud is going to shrink. If you look at the market for private cloud today, why do companies do it? Performance is a big thing, security is a big thing. We believe we address a lot of that with our next generation cloud". When an infrastructure giant gets into cloud, it not only aims to be a global leader, it plans to change the game.