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Los Angelas, CA -- (SBWIRE) -- 01/22/2013 -- Ford Motor (NYSE:F) : Despite all the economic uncertainty that was swirling over Canada in 2012, the auto industry experienced a surprisingly strong showing. Sales were up 5.7 per cent over 2011, reaching 1.68 million units in the country, led once again by a strong showing from Ford. With just over 276,000 vehicles sold, the North American automaker remained atop the Canadian automotive landscape for the third straight year. Dianne Craig, who took over as president and CEO of Ford Motor Company of Canada on Nov. 1, 2011 — nearly midway through the company’s surge here — says the 2012 figures were a surprise. “At the beginning of the year (2012), we weren’t forecasting as aggressively as an industry. We thought we would be up a little, maybe one to two points,” she said. “As it turned out, we approached a near-record industry in 2012.” Craig pointed out that the success of the auto industry is good news on many fronts, and not just for the car companies. The veteran of 26 years in the automotive industry is especially proud of the fact Ford has remained the market leader in Canada despite a rebound in sales from competitors, some of which were hampered in previous years by natural disasters, such as the tsunami in Japan.
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Cisco Systems, Inc. (NASDAQ:CSCO) previously have buyer relationship with the chips maker, designed a manufactured by Intel. As it is the plan of Intel to enhance its business after failure of PC market, the company has targeted to expand its chip business into the USD 30.7 billion made to order chip business. According to the spokesman of Intel, Chuck Mulloy, Intel did not remarks on any agreement with Cisco, he added those companies who declared their plans to use Intel to produce chips they include Netronome Systems, Achronix Semiconductor and Tabula.
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Citigroup (NYSE:C) reported comparatively poor results. Citing burdensome legal costs from its continuing mortgage woes and a challenging operating environment, Citigroup became the first bank to miss analysts’ estimates this quarter. The bank reported fourth quarter profit of $1.2 billion, or 38 cents per share, and earnings of $2.2 billion, or 69 cents per share. Both figures fell significantly below quarterly profit and earnings forecasts; analysts polled by Thomson Reuters had predicted net income of $2.9 billion, or 96 cents per share.
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