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In flap over S. Carolina law, old tensions and a campaign issue

In flap over S. Carolina law, old tensions and a campaign issue


By Andy Sullivan COLUMBIA, South Carolina (Reuters) - The state that fired the first shot in the Civil War is once again battling the U.S. government in a racially charged conflict that is drawing ...
Divers suspend search of capsized Italy liner

Divers suspend search of capsized Italy liner


By Steve Scherer and Gabriele Pileri GIGLIO, Italy (Reuters) - Divers searching the capsized Italian cruise liner Costa Concordia suspended work on Wednesday after the vast wreck shifted slightly but officials said they are ...
Italy ship search suspended after hulk moves-officials

Italy ship search suspended after hulk moves-officials


GIGLIO, Italy (Reuters) - Italian divers suspended their search of the capsized cruise liner Costa Concordia after the vessel shifted slightly on its resting place near the Tuscan island of Giglio, officials said on Wednesday. ...

The company logo is displayed at the Samsung news conference at the Consumer Electronics Show (CES) in Las Vegas January 7, 2013. REUTERS/Rick Wilking (UNITED STATES - Tags: BUSINESS SCIENCE TECHNOLOGY LOGO)

Samsung posts record profit
Samsung posts record profit
Posted : Thursday, 24 January 2013 07:00PM

SEOUL (Reuters) - Samsung Electronics Co reported a record quarterly profit of $8.3 billion and kept its 2013 investment plans at the previous year's level, defying expectations that it may reduce spending amid weaker demand for computer chips.

The South Korean firm said October-December operating profit increased 89 percent from a year ago to 8.84 trillion korean won ($8.3 billion), in line with its earlier estimate.

In a statement on Friday, Samsung said it would keep 2013 investment at a similar level to 2012, despite a bleak PC outlook and a move by rival Apple Inc to diversify its supplier base.

Analysts had expected a 4-20 percent cut in Samsung's capital spending this year.

Samsung, the world's biggest smartphone maker and a key supplier of memory chips, flat screens and microprocessors for Apple's iPhone and iPad, has increased its capital spending every year except 2009 since 2004.

It is preparing for a gradual Apple exit as the Cupertino California-based firm, in a global patent row with Samsung, reduces its component reliance on the South Korean company.

Shares in Samsung have climbed 12 percent over the past three months, while Apple slumped 20 percent, partly hit by worries that its dominance of the mobile industry was waning. ($1 = 1068.7500 Korean won)

(Reporting by Miyoung Kim; Editing by Ryan Woo and Richard Pullin)

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