EU, CHINA COMPLETE DEAL ON TELECOMS EQUIPMENT
The E.U. and China completed a deal that will end the threat of
punitive import tariffs on Chinese telecommunications equipment
makers Huawei Technologies Co. and ZTE Corp., people familiar with
the agreement said.
NEW LIBOR ADMINISTRATION PLAN DETAILED
Ice Benchmark Administration proposed a package of new measures
to make the London interbank offered rate more accurate and less
susceptible to manipulation.
GLOBALFOUNDRIES TO TAKE OVER IBM CHIP UNIT
Globalfoundries has agreed to buy the semiconductor business of
International Business Machines for $1.5 billion. In signing the
deal, IBM is effectively acknowledging that chip making costs are
becoming too burdensome.
SEARS TO LEASE SEVEN LOCATIONS TO PRIMARK
European fashion retailer Primark, owned by Associated British
Foods, will lease about 520,000 gross square feet of retail space
over the next 12 to 18 months in mall-based Sears locations in the
Northeastern U.S., Sears said.
NUTRECO AGREES TO SHV'S TAKEOVER OFFER
Animal nutrition and fish feed company Nutreco said it agreed to
a $3.43 billion takeover offer from Dutch conglomerate SHV.
PHILIPS SWINGS TO LOSS
Royal Philips said Monday it swung to a net loss for the third
quarter because of a production suspension at one of its
health-care plants and a $467 million legal provision.
CONSORTIUM SEEKS TO BUY REEBOK FROM ADIDAS
A consortium of investors from Hong Kong and Abu Dhabi is
launching a bid to buy Reebok from Adidas, in a move that, if
successful, would unwind an eight-year-old marriage of sneaker
makers that has shown disappointing results.
RUSSIA, UKRAINE EDGE CLOSER TO NATURAL-GAS DEAL
Russia and Ukraine have agreed a price for winter gas supplies,
officials from both countries said, moving closer to a deal that
would ease concerns that the countries' dispute could disrupt
supplies to Europe.
OIL FUTURES HOLDING UP
Crude-oil futures were in positive territory in Asian trade
Monday after being decimated last week, but traders and investors
remain unsure of whether prices can hold.
METRO FOURTH-QUARTER SALES DOWN 2.6%
Metro reported a 2.6% decline in fourth-quarter sales as a
strong euro and asset disposals derailed growth. Still, the German
retailer said it would meet targets for the year.
SAP NET PROFIT RISES 15%, CUTS OUTLOOK
Enterprise software provider SAP lowered its earnings outlook
for this year Monday, even as it reported a 15% increase in
third-quarter net profit, boosted by growth in subscriptions for
its cloud-based software products.
ELECTROLUX PROFIT RISES AFTER RECOVERY IN EUROPE
Electrolux said profit jumped 42% in the latest quarter, boosted
by strong operational recovery in Europe despite a continued tough
market situation.
LUFTHANSA PILOTS TO EXPAND STRIKE
German union Vereinigung Cockpit said Monday it has called
Deutsche Lufthansa pilots to expand their strike to some long-haul
flights on Tuesday.
SYNGENTA FACES MORE SUITS OVER ITS SEEDS
Syngenta faces escalating legal battles over its sale of
genetically engineered corn seeds that some farmers and
agricultural companies say have roiled international grain markets
this year.
AUSTRALIA LOOKS TO RAISE UP TO $4.82B IN MEDIBANK IPO
Australia's government could reap as much as $4.82 billion from
the sale of the country's largest health insurer.