Lumentum in Advanced Talks to Buy Laser Maker Coherent

A cash-and-stock deal could come together as soon as this week. Exact terms couldn't be learned but Coherent had a market value of $3.7 billion as of Friday's close, while Lumentum's was $8 billion.

 
Rio Tinto Records Slight Lift Iron-Ore Shipments

Rio Tinto reported a 1% lift in annual shipments of iron ore from its Australian mining hub and forecast a wide range for 2021 exports around a similar level as it deals with uncertainties tied to the pandemic and a review of heritage laws.

 
Jeep-Maker Stellantis Needs to Go Global

The merger of Fiat Chrysler and its French peer PSA will create a trans-Atlantic giant out of two smaller car makers. One of its biggest challenges is to go truly global.

 
Renaissance Says Losses Should Have Been Expected at Some Point

The quant hedge fund told clients that a recent drop of 20% to 30% was partially due to increased market volatility.

 
New York Seeks to Buy Vaccines Directly From Pfizer

Gov. Andrew Cuomo asked Pfizer to sell its Covid-19 vaccine directly to New York state, to help alleviate a shortfall of federally allocated doses that the governor blames on the Trump administration.

 
Pizza Hut Hopes Drop Zones Can Help Bring Drone Delivery to Fruition

Instead of flying pizzas directly to customers' homes, Pizza Hut Israel this June plans to test sending drones to drop multiple orders at government-approved landing zones where drivers will pick up the pies.

 
Shareholder Proposal at Omnicom Questions Ad Buyers' Role in Online Hate

Shareholders are taking aim at social-media ad buyers for their possible role in spreading disinformation and hate speech.

 
Biotech's Price Tag Is Crazy but Not Insane

Startup Sana Biotechnology could go public at a $10 billion valuation. Recent history suggests the high price tag may be worth it.

 
Tesla Starts Delivering China-Made Model Y Crossover

Tesla delivered its first made-in-China Model Y compact crossover vehicles, the latest milestone in the American company's drive into the world's largest market for electric cars.

 
Samsung Is Without a Leader as Jay Y. Lee Returns to Prison

Samsung's de facto leader returned to prison, throwing the South Korean conglomerate into disarray during a generational transfer of power.

(END) Dow Jones Newswires

January 18, 2021 21:15 ET (02:15 GMT)

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