ABB to sell Power Grids to Hitachi, revamp business structure
ABB reached a deal with Japan’s Hitachi to sell its Power Grids division, with the Swiss engineering group adding it plans to return net cash proceeds of $7.6-7.8 billion from selling the 80.1 percent stake in the unit to shareholders.
China trade steps seen as good start but leave core U.S. demands untouched
(This story dated December 17 corrects Scott Kennedy’s title and organization in 21st paragraph)
Burnout, stress lead more companies to try a four-day work week
(Corrects paragraph 4 to identify Perpetual Guardian as a trust company instead of an insurance company; corrects paragraph 13 to reflect that the study was conducted by Kronos and Future Workplace)
Australia bank NAB’s CEO to take long holiday around inquiry report release
National Australia Bank Ltd said on Monday its CEO will take about two months leave around the scheduled release of a major report into the country’s finance sector, prompting a rebuke from a shareholder group.
Taisho said to near $1.6 billion deal for Bristol-Myers’s UPSA: Bloomberg
Japanese healthcare firm Taisho Pharmaceutical Holdings Co Ltd is said to be close to a $1.6 billion deal for Bristol-Myers Squibb Co’s French over-the-counter drugs business UPSA, Bloomberg reported on Sunday, citing sources familiar with the matter…
Oil prices pressured by oversupply, global economic concerns
Oil prices were largely steady on Monday after falling 2 percent in the previous session, but remained under pressure amid weaker growth in major economies and concerns about oversupply.
Foxconn not in settlement talks with Qualcomm in Apple battle: attorney
The lead attorney for the group of Apple Inc device assemblers seeking at least $9 billion in damages from Qualcomm Inc said on Sunday the contract manufacturers are not in settlement talks with the mobile chip supplier and are “gearing up and heading …
Nissan board aims to boost governance post-Ghosn at Monday’s meeting: sources
Nissan Motor’s board is expected to meet on Monday, its first since firing chairman Carlos Ghosn last month, to decide on ways to improve governance at the automaker amid rising tensions with alliance partner Renault.
Brent crude dips on global economy worries, U.S. oil prices steady
Brent crude prices slipped on Monday amid concerns over demand in the wake of weaker growth in major economies, while U.S. oil markets held steady after U.S. drilling activity fell to its lowest level in about two months.
Hitachi to announce purchase of ABB’s power grid business Monday: Nikkei
Hitachi Ltd and ABB will announce on Monday a plan for the Japanese conglomerate to buy the Swiss engineering group’s power grid business, paying up to $7 billion for an initial 50 percent stake, the Nikkei business daily reported.
