TOKYO (MarketWatch) — Toshiba Corp. said Wednesday it will sell its hard disk drive manufacturing subsidiary in Thailand, Toshiba Storage Device (Thailand) Co., to Western Digital Corp. WDC +1.55% . The Japanese electronics maker also said it will acquire some HDD manufacturing equipment from Western Digital in a move aimed at enabling the firm to supply all segments of the HDD market. No price... 

Barclays PLC’s (BCS, BARC.LN) auditor raised concerns over two tax avoidance schemes created by the bank that were later rejected by the tax authorities as “highly abusive,” the U.K. newspaper The Daily Telegraph reported Tuesday on its website, without citing specific sources. PricewaterhouseCoopers, which is responsible for auditing Barclays’ accounts, is understood to have... 

Southwestern Energy Co.’s SWN -4.81% fourth-quarter earnings rose 6% as the energy producer benefited from higher production and strength in its midstream business, offset by softer natural-gas prices and higher costs from the increased production. But shares sank 3.5% after hours to $34.10 as the company also said it lowered its full-year production expectations and trimmed its capital spending... 

NEW YORK -(MarketWatch)- Kraft Foods Inc.’s KFT +0.61% date with Starbucks Corp. SBUX -0.14% in arbitration court is set for July. Kraft on Monday disclosed in its 10-K that it expects the arbitration proceeding to begin July 11 in Chicago and conclude by July 31. The hearing stems from Starbucks’ move to take control of its packaged-coffee business from long-time partner Kraft, which for... 

Universal Bioenergy Inc. is an independent diversified energy company, headquartered in Irvine, California. Our common stock is presently listed on the OTC Pink Sheet Markets trading systems under the trading symbol “UBRG”. Universal Bioenergy Inc. was incorporated on August 13, 2004 in the State of Nevada, under the name of Palomine Mining Inc. On October 24, 2007, the Company changed its name... 

MELBOURNE -(MarketWatch)- Newcrest Mining Ltd. said Friday problems at its Lihir gold operation in Papua New Guinea are expected to impact production in the March quarter by 50,000-60,000 ounces, although it is maintaining its production and cost guidance for the financial year. Sustaining capital expenditure at Lihir is forecast to be about A$200 million a year for the next few years, the Australian... 

–Procter & Gamble CEO unveils $10 billion in cost cuts over next four years –Plan includes eliminating 4,100 jobs in fiscal 2013 –P&G sees savings in overhead, cost of goods and marketing (Adds analyst comment about the cost cuts in penultimate paragraph and updates shares.) BOCA RATON, Fla. -(MarketWatch)- Procter & Gamble Co. PG +0.20% shares rallied as the company unveiled... 

NEW YORK (MarketWatch) — Skullcandy Inc. SKUL -1.01% swung to a better-than-expected fourth-quarter profit as the music-headphone maker reported double-digit percentage sales growth in the U.S. and abroad. Skullcandy, founded in 2003, first sought to court the action sport and youth crowd by selling its headphones in specialty retailers focused on sports such as skateboarding but has since expanded... 

Yamana Gold Inc.’s (AUY, YRI.T) fourth-quarter earnings fell 29% as a result of an impairment charge, though revenue increased. The company’s adjusted profit beat analyst expectations. Wednesday, the company also raised its annual dividend by 10% to 22 cents a share. The company increased its payouts twice in 2011. The Canadian mining company has posted stronger revenue and adjusted profits... 

TAIPEI -(MarketWatch)- Chunghwa Telecom Co. CHT -0.93% , Taiwan’s largest telephone company by revenue, said Wednesday it expects its net profit to fall 16.8% this year to NT$39.2 billion (US$1.33 billion) from NT$47.1 billion in 2011 as costs rise due to regulatory changes and increased competition. The company said in a statement its revenue will likely fall 1.9% this year to NT$188.9 billion...