Breaking News

Share SHARE

Software giant Microsoft Corp. (MSFT) has delayed the launch of its Xbox One game console in China, which was slated to be released on September 23. The company said it would now be launched by the end of this year, although no reasons were given for the delay. China is the third-biggest gaming...

German engineering and electronics company Robert Bosch GmbH or Bosch, agreed Sunday to buy out German conglomerate Siemens AG's (SIEGY) 50 percent stake in their household appliances joint venture BSH Bosch und Siemens Hausgeräte GmbH (BSH) in a deal valued at about 3 billion euros or $3.85 billion. Further,...

General Motors Co. (GM) is recalling 221,558 Cadillac XTS and Chevrolet Impala sedans, citing risk of fires due to a defect in the parking brake. The recall covers 205,309 vehicles in the U.S. and the remaining 16,249 vehicles in Canada and other countries. In a letter to the National Highway Traffic...

Ferro Corp. (FOE) announced that it has signed a definitive agreement with Milan, Italy-based Private Equity Funds' Management Company Star Capital SGR S.p.A. and two minority owners and founders Gianfranco Padovani and Sergio Zannoni to acquire Casola Valsenio, Italy-based Vetriceramici S.p.A. for 83...

U.S. machinery company Dresser-Rand Group Inc. (DRC) said Sunday that it has agreed to be acquired by German conglomerate Siemens AG (SIEGY, SMAWF) in a transaction valued at about $7.6 billion, including the assumption of debt. Under the definitive merger agreement, Siemens will acquire all of the...

TAT Technologies Ltd. (TATT) announced that its unit, Piedmont Aviation Component Services, reached a seven year landing gear maintenance support deal with Republic Airways Holding, Inc. covering their Embraer E - 175 fleet. The deal, which may exceed $45 million, will cover their current fleet...

In response to a $1 billion lawsuit filed by the Libyan Investment Authority, Goldman Sachs has admitted adopting various techniques, including an internship, gifts, travel and entertainment to strengthen a strategic partnership with the LIA under the former Gaddafi regime, the Financial Times reported. The...

Barbara Henning, wife of Alan Henning, a British taxi driver held hostage by Islamic State since last December, has appealed to the militants to release him, BBC reported. In a statement released via the Foreign office, Barbara said Alan is a peaceful and selfless man, and was taken hostage while...

Oil giant Exxon Mobil Corp. (XOM) said it is complying with all U.S. sanctions, and is winding down the University-1 well in the sensitive Kara Sea arctic environment. In a statement, the firm said, "The U.S. Treasury Department, recognizing the complexity of the University-1 well and the sensitive...

Conglomerate General Electric Corp. (GE) has conducted discussions with oilfield equipment manufacturer Dresser-Rand Group Inc. (DRC) about a possible acquisition of the latter, the Financial Times reported. The company is weighing whether to launch a bid, and it is unclear if GE will make an offer,...

Five people, including three children, were killed in a crash in Pennsylvania on Saturday afternoon that involved four vehicles. Three others have been taken to hospitals. All the victims were travelling in a minivan. Overspeeding is said to have caused the mishap. The accident occurred near the...

Around 100 French farmers protesting against falling living standards set fire to a tax office in the town of Morlaix in Brittany, as a Russian embargo on some goods has blocked one of their main export markets. The farmers first set fire to an insurance office outside Morlaix and destroyed it totally....

The U.K.'s constitutional architecture is likely to be redrawn with more powers for Scotland, after the country decided to continue its 300-year-old union with the U.K. in a referendum held on Thursday. British Prime Minister David Cameron said "it is time for our United Kingdom to come together and...

Boeing [BA] and Ethiopian Airlines announced an order for 20 737 MAX 8s. The order is worth more than $2.1 billion at list prices and also includes options and purchase rights for a further 15 737 MAX 8s. The order represents the largest single Boeing order by number of airplanes from an African...

Specialty drugmaker Horizon Pharma plc (HZNP) on Friday managed to redomicile itself as an entity incorporated in Ireland following the completion of its $660 million acquisition of Vidara Therapeutics International plc. The deal will help it avoid paying the high rate of U.S. corporate taxes. The...