Microsoft to trim smartphone business, plans to cut 1,850 jobs


Microsoft Corp will trim down its smartphone business by cutting 1,850 jobs, most of them in Finland, and write down $950 million from the operation.

HP Enterprise to merge IT services unit with Computer Sciences

Hewlett Packard Enterprise Co said it would spin off and merge its struggling IT services business with Computer Sciences Corp, allowing the company to focus on its cloud services business and other fast-growing units. Shares of Hewlett Packard Enterprise, formed after Hewlett-Packard Co formally split in November, rose 10.5 percent in… Read more »

Saudi Aramco said to appoint JPMorgan, HSBC for debut bond sale

Saudi Aramco is at the center of a plan to wean the country’s economy off its dependency on oil revenues.

Foxconn says won’t sell Sharp’s solar power business

Foxconn, also known by its formal name Hon Hai Precision Industry Co (2317.TW), is the world’s largest contract electronics manufacturer.

Israeli firm Sensifree raises $5m in Series A round led by TransLink Capital

Israel-based Sensifree, maker of low power, contact free, electromagnetic sensors has raised $5 million in its Series A round of funding led by US-based investment firm TransLink Capital. The round also saw participation from existing and new investors, including UMC Capital, a subsidiary of United Microelectronics Corp and an undisclosed strategic investor,… Read more »

Taiwan banks explore promise, peril of Southeast Asia

Taiwan banks led by CTBC Financial and Fubon Financial are looking to step out of their comfort zone into newer markets in Southeast Asia, as the domestic economy slows and growth peaks for the $1.2 trillion-asset banking sector. The expansion began in 2013 and is likely to accelerate over the… Read more »

Goldman Sachs raising funds to buy stakes in private equity firms

The bank plans to initially carry out the purchases with its Petershill II fund, which raised about $1.5 billion and has mostly taken stakes in firms that manage hedge funds. The bank will look for equity investments in both large- and medium-sized private-equity firms that employ a broad range of strategies across the globe.

EU regulators clear $100b AB InBev, SABMiller deal

AB InBev has already agreed to sell SABMiller’s Peroni, Grolsch and Meantime beer brands to Japan’s Asahi Group Holdings Ltd and to divest eastern European assets.

Toyota to invest in Uber, becomes latest big auto to join ride-hailing party

Toyota Motor Corp said it would invest in on-demand ride-hailing company Uber, the latest in a wave of high-profile moves by automakers to embrace their potential upstart rivals as partners, customers and sources of valuable data.

Monsanto rejects Bayer’s $62b bid, but open to more talks

Global agrochemicals companies are racing to consolidate, partly in response to a drop in commodity prices that has hit farm incomes. Seeds and pesticides markets are also increasingly converging. This has driven Monsanto to consider a tie-up to build strength.