Verizon Finalizes $4.8 Billion Deal to Acquire Yahoo -- Update 

Verizon Communications Inc. has agreed to pay $4.8 billion to acquire Yahoo Inc., according to a person familiar with the matter, ending a drawn-out auction process for the beleaguered internet company. (published 1953 GMT Sunday)

 
 
Sinopec Engineering Expects 1H Net Profit to Fall 30%-40% on Year 

Sinopec Engineering Co. Ltd. said late Friday it expects its first-half net profit to fall 30%-40% from a year earlier, as the global economic slowdown and low oil prices hurt business. (published 0056 GMT)

 
 
China Maple Leaf to Buy Singapore School Property for HK$388.3 Million 

China Maple Leaf Educational Systems Ltd., which operates international schools in China, said Monday it has agreed to buy a school property in Singapore for 388.3 million Hong Kong dollars . (published 0022 GMT)

 
 
Merry Garden Expects to Swing to Net Loss for 1H 

Merry Garden Holdings Ltd., which sells leisure household products and timber villas, said late Friday that it expects its first-half results to swing to a net loss partly due to weaker demand amid a sluggish global economy. (published 0036 GMT)

 
 
Colour Life Services Announces Change of CFO 

Colour Life Services Group Co., which provides property management services in China, said late Sunday Zhou Qinwei resigned as chief financial officer with effect from July 25 to take up his new post as chief strategy officer. (published 0007 GMT)

 
 
China Oilfield Services Expects 1H Results to Swing to Net Loss Around CNY8.4 Billion 

China Oilfield Services Ltd. said late Sunday it expects its first-half results to swing to a net loss of around 8.4 billion yuan, mainly due to a CNY7.1 billion impairment loss amid the low international crude oil prices. (published 0002 GMT)

 
 
Tesla Races to Finish 'Gigafactory' in Time for Model 3 Rollout 

SPARKS, Nev. -- Tesla Motors Inc. is scrambling to finish building its massive $5 billion battery factory here years ahead of schedule to meet demand for its coming cheaper sedan and provide power for new types of vehicles Chief Executive Elon Musk says are under development. (published 2346 GMT Sunday)

 
 
Newcrest Annual Gold Output Slightly Higher 

Newcrest Mining Ltd. said it produced slightly more gold last fiscal year as record output at a mine in Papua New Guinea offset the multi-month shutdown of an operation in Indonesia. (published 2312 GMT Sunday)

 
 
Woolworths to Book A$959M Restructuring Costs, Cut 500 Jobs 

Australian retailer Woolworths Ltd. said Monday it will record 959 million of restructuring costs in fiscal 2016 as it plans to cut 500 jobs and close undeperforming stores, while also exploring options to sell online retailer EziBuy. (published 2255 GMT Sunday)

 
 
Dell, HP Take Opposite Tacks Amid Roiling Tech Market 

The markets for business technology are so roiled, and the path forward so unclear, that two of the biggest players in the field are taking opposite tacks. (published 0930 GMT Sunday)

 
 
Philippines Stops Accepting Uber, Grab Applications in Capital 

Philippine authorities have temporarily stopped accepting new applications in the capital for transport network vehicle services such as Uber. (published 0704 GMT Saturday)

 
 
Petrobras Seeks to Sell Controlling Stake in Retail-Gasoline Unit BR Distribuidora 

Brazilian state-run energy company PetrĂ³leo Brasileiro SA on Friday said it would sell a controlling stake in its fuel distribution subsidiary, after it failed to get sufficient bids for a minority stake. (published 2244 GMT Friday)

 
 
 

(END) Dow Jones Newswires

July 24, 2016 21:00 ET (01:00 GMT)

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