By Jussi Rosendahl
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.
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 is at the center of a plan to wean the country’s economy off its dependency on oil revenues.
Foxconn, also known by its formal name Hon Hai Precision Industry Co (2317.TW), is the world’s largest contract electronics manufacturer.
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 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 »
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.
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 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.
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.