ABB will sell 80.1 percent of its Power Grids division to Japan’s Hitachi , the Swiss engineering group said on Monday, adding it would return net cash proceeds of $7.6-7.8 billion from the deal to shareholders.
ABB reached a deal with Japan’s Hitachi to sell its Power Grids division, with the Swiss engineering group adding it plans to return net cash proceeds of $7.6-7.8 billion from selling the 80.1 percent stake in the unit to shareholders.
The United States has welcomed Chinese concessions since the two declared a trade war truce in early December, but trade experts and people familiar with negotiations say Beijing needs to do far more to meet U.S. demands for long-term change in how China does business.
Work four days a week, but get paid for five?
National Australia Bank Ltd said on Monday its CEO will take about two months leave around the scheduled release of a major report into the country’s finance sector, prompting a rebuke from a shareholder group.
Japanese healthcare firm Taisho Pharmaceutical Holdings Co Ltd is said to be close to a $1.6 billion deal for Bristol-Myers Squibb Co’s French over-the-counter drugs business UPSA, Bloomberg reported on Sunday, citing sources familiar with the matter.
National Australia Bank Ltd said on Monday its CEO will take about two months leave around the scheduled release of a major report into the country’s finance sector, prompting a rebuke from a shareholder group.
Oil prices were largely steady on Monday after falling 2 percent in the previous session, but remained under pressure amid weaker growth in major economies and concerns about oversupply.
The lead attorney for the group of Apple Inc device assemblers seeking at least $9 billion in damages from Qualcomm Inc said on Sunday the contract manufacturers are not in settlement talks with the mobile chip supplier and are “gearing up and heading toward the trial” in April.
Nissan Motor’s board is expected to meet on Monday, its first since firing chairman Carlos Ghosn last month, to decide on ways to improve governance at the automaker amid rising tensions with alliance partner Renault .
Brent crude prices slipped on Monday amid concerns over demand in the wake of weaker growth in major economies, while U.S. oil markets held steady after U.S. drilling activity fell to its lowest level in about two months.
Hitachi Ltd and ABB will announce on Monday a plan for the Japanese conglomerate to buy the Swiss engineering group’s power grid business for up to $7 billion, the Nikkei business daily reported.
Asian share markets began the week on a cautious note after soft economic data from China and Europe added to evidence of cooling global growth and reinforced anxiety over the broadening impact of international trade frictions.
Oil prices climbed on Monday after U.S. drilling activity fell to its lowest level in about two months, but increasing concerns about weaker growth in major economies kept a lid on gains.
Asian share markets started the week on a cautious footing on Monday after weak economic data from China and Europe added to evidence of cooling global growth and reinforced anxiety over the impact of international trade frictions on business and profits.
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