Spend procurement supply chain

Japan - Toshiba Corp is planning to cut its procurement costs by 1 trillion yen (US$11.73 billion) over the next three years.

Global - BP has spent US$6.1 billion in response to the Gulf of Mexico oil spill and the amount is expected to escalate, with the total cost reaching US$32.2 billion.

China - Taiwan is expecting China to place orders in excess of US$20 billion this year.

Japan - The country has seen sustained growth in shipments in June despite a rising yen.

Global - UPS reported a 71% increase over adjusted earnings in the second quarter compared to the same period of the previous year, with global revenue increasing by 13%.

Global - Procurement jobs in the apparel industry can help businesses cut costs, if a new study is to be believed.

Global - Europe's airline company, Air France-KLM Group, has agreed to pay US$87 million due to its connection to a global price-fixing cartel.

Global - Germany's Deutsche Lufthansa AG has placed a firm order for eight additional Bombardier CRJ900 NextGen regional jets worth US$317 million.

Global - Ireland's three major airlines lost around US$100 million from the volcanic ash cloud disturbances.

Asia Pacific - Consumer spend in 2010 across the Asia Pacific is expected to see a turnaround, with double-digit retail sales growth predicted in China, Hong Kong, India, Indonesia, Korea, Malaysia and Singapore.