Biz/Tech
Google Announces Plan for New Operating Structure, Creates New Company Called Alphabet
Konecranes to Merge with Terex, Form a Leading Global Lifting and Material Handling Solutions Company
Konecranes Plc has just announced that they will be merging with Terex Corporation, following the unanimous approval of both their boards of directors, according to a press release issued by Konecranes.
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Nokia Plotting Mobile Phone Comeback Amid Long Absence, Tough Competition
Finnish phone maker Nokia is looking to make a comeback with moves aimed to make the company more competitive in the handset business it once surrendered to Microsoft.
Chinese E-Commerce Giant Alibaba Buys 20% Stake in Suning for $5 Billion to Boost Services
Chinese e-commerce giant Alibaba bought a 20% stake in Chinese consumer electronics retailer Suning for $4.6 billion saying the investment will help its distribution network in the country.
Groupon Announced Investment of Sequoia to its Indian Arm, Unit to be Renamed Nearbuy
Groupon Inc. has just announced the investment of Sequoia Capital, a private equity firm, to its Indian unit, Groupon India, according to a press release issued by the company.
Japan's Sumitomo Negotiating to Acquire US's Symetra, Would Boost Overseas Growth
Sumitomo Life Insurance Company, a Japanese insurance company, is in talks to acquire U.S.’s Symetra Financial Corporation for about $3.1 billion, a person familiar with the matter told Reuters.
U.S. Oil Rigs Rise for Third Week Despite Low Crude Prices
U.S. energy firms added six oil rigs last week despite a decline in crude futures on concerns about the market situation.
BHP Billiton to Cut 380 Jobs in Australian Mine Due to Falling Commodity Prices
Mining giant BHP Billiton announced on Sunday a move to cut 380 jobs at its Olympic Dam copper and uranium mine in Australia due to a challenging global business environment and to ensure the sustainability of operations.
US Employment Numbers Improve in July, Interest Rate Hike Expected in September
The U.S. unemployment rate remain unchanged in July, but analysts are firm in their outlook that the Federal Reserve will raise interest rates in September given the steady addition of jobs and improving wage conditions.
Coke to Buy Stake in Juice Maker Suja to Bolster Health Drink Portfolio
Soft drink giant Coca-Cola Co. is close to buying a minority stake in U.S. organic juice company Suja Life LLC, as the beverage maker continues to diversify its portfolio to adapt to changing consumer tastes.
Berkshire Nears Largest Acquisition with $30 Billion Purchase of Precision Castparts
Warren Buffett's Berkshire Hathaway Inc. is reportedly closing on its largest acquisition ever with a deal to buy Precision Castparts Corp. soon to be signed.
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