Seoul, May 27 (IANS) Unionised workers at Samsung Electronics voted to approve a wage agreement, the union said on Wednesday, easing concerns about potential disruptions to the global supply chain.In the six-day vote, 73.7 percent of the 62,616 members of the tech giant’s two largest unions approved the tentative deal. The agreement was finalised after a majority of eligible voters took part in the vote and a majority voted in favour of the proposal, reports Yonhap news agency.The labour union a…
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Seoul, May 13 (IANS) Samsung Electronics and its labour union failed to reach a wage agreement on Wednesday, raising concerns over a major strike later this month that could disrupt operations at the world’s largest memory chipmaker.The breakdown came after two days of government-led mediation talks that had been viewed as a last-ditch effort to avert the strike scheduled for May 21, reports Yonhap news agency.Union and management have remained sharply divided over performance-based bonuses tied…
Seoul, May 11 (IANS) The largest labour union at Samsung Electronics on Monday reiterated its demand that the company allocate 15 per cent of operating profit to employee performance-based bonuses and remove the payout cap, warning that mediation efforts could collapse if no progress is made.Choi Seung-ho, head of the union, reaffirmed the labor group’s position ahead of follow-up mediation talks aimed at averting the union’s planned 18-day strike beginning May 21, reports Yonhap news agency.”We…
Mumbai, May 8 (IANS) State Bank of India on Friday reported a modest 1.1 per cent year-on-year (YoY) rise in consolidated net profit for the fourth quarter (Q4) of FY26, aided by steady growth in advances and deposits.India’s largest lender posted a net profit of Rs 20,1 61.30 crore for the January-March quarter, compared to Rs 19.941.39 crore in the corresponding period previous financial year (Q4 FY25), according to its stock exchange filing.However, the lender’s standalone net profit jump…
Seoul, May 5 (IANS) Samsung Electronics’ board chairman on Tuesday expressed concerns over the potential economic impact of a planned general strike by unionized workers and called for the dispute to be resolved through dialogue, the company said.”As chairman of the board, I feel a deep sense of responsibility for the current situation and apologize for causing concern,” Chairman Shin Je-yoon said in a message posted on the company’s intranet.He warned that both management and labor could lose…
Seoul, April 30 (IANS) Samsung Electronics said on Thursday that its first-quarter net profit surged more than fivefold from a year earlier, driven by robust demand for high-end memory chips used in artificial intelligence (AI) applications.Net profit for the three months ended March jumped to 47.22 trillion won (US$31.8 billion) from 8.22 trillion won a year earlier, the company said in a press release.Operating profit jumped more than eightfold to 57.23 trillion won from 6.68 trillion won over…
Mumbai, April 25 (IANS) Private lender Axis Bank on Saturday reported a 0.64 per cent drop in profitability for the March quarter (Q4) of FY26, with net profit dropped 0.64 per cent year-on-year (YoY) to Rs 7,071 crore.The lender had posted a net profit of Rs 7,118 crore in the corresponding quarter of the previous financial year (Q4 FY25), according to its latest stock exchange filing.The bank’s interest income showed healthy growth during the quarter, rising 4.7 per cent to Rs 32,724 crore f…
Mumbai, April 18 (IANS) India’s largest lender HDFC Bank on Saturday reported an 8.04 per cent rise in its consolidated net profit to Rs 20,350.76 crore for the January–March quarter (Q4 FY26), compared to Rs 18,834.88 crore in the year-ago period.The bank’s interest income stood at Rs 87,182.50 crore during the quarter, marginally higher than Rs 87,066.94 crore in Q3 and Rs 86,779.34 crore a year ago.On a standalone basis, net interest income (NII) rose to Rs 33,082 crore, a 3.2 per cent in…
Seoul, Jan 12 (IANS) LG Display Chief Executive Officer (CEO) Jeong Chul-dong has vowed to address China’s rise in the liquid crystal display (LCD) sector by improving the price competitiveness of its premium organic light-emitting diode (OLED) panels.Jeong made the remark during a meeting with reporters in Las Vegas on Wednesday (U.S. time) on the margins of CES 2026, sharing his views on exhibitions by Chinese technology firms, Yonhap news agency reported on Monday”I had the impression that Ch…
Seoul, Jan 9 (IANS) LG Electronics on Friday said it turned to an operating loss from a year earlier in the fourth quarter, amid an overall contraction in demand caused by US tariffs.Operating loss in the October-December period came to 109.4 billion won (US$75.2 million), shifting from a profit of 135.4 billion won a year earlier, the company said in a regulatory filing.The performance missed Yonhap Infomax’s projection of an operating profit of 20.5 billion won, reports Yonhap news agency.Reve…