Product Recall News
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Cochlear Ltd., the 31-year-old hearing implant developer, said China’s growing affluence offers a “huge opportunity” for the Australian company as it tackles competition from Sonova Holding AG.
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Product recall notices are a fact of life for consumer-product makers. Dysfunctional hinges trap tiny fingers; undesirable fluids leak into foodstuffs; and sticky accelerator pedals send cars zooming in mysterious ways, forcing manufacturers into costly withdrawals.
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Diane von Furstenberg Studio LP won a court order prohibiting a distributor from selling the luxury brand’s inventory to discount retailers.
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Cochlear Ltd.’s cost of voluntarily recalling its Nucleus 5 range of hearing devices because of a manufacturing glitch may exceed A$35 million, UBS said.
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Apple Inc. ’s senior antenna expert voiced concern to Chief Executive Officer Steve Jobs in the early design phase of the iPhone 4 that the antenna design could lead to dropped calls, a person familiar with the matter said.
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St. Jude Medical Inc., a maker of heart rhythm devices, fell the most in five weeks after the company said its 2012 outlook is worsening as a product recall crimps sales and a stronger dollar erodes overseas profit.
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Apple Inc. , looking to avoid a recall of the iPhone 4, may give away rubber cases or offer an in-store fix to address a design flaw in the newest version of its top-selling product, according to analysts.
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Kellogg Co. , the largest U.S. maker of breakfast cereal, lowered its profit forecast for the year, citing slumping demand for cereal and heightened competition.
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Asian stocks fell, with the benchmark index set for its lowest close in a year, amid speculation Greece may be nearing a default on its sovereign debt, bolstering concern that the crisis will spread.
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Apple Inc. responded to complaints about reception on its new iPhone 4 by telling customers they should hold the device differently.
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