Provisional election results in Germany point to a worse-than-expected majority for the German chancellor even as Angela Merkel’s conservative bloc will be the largest party in the next German parliament. 33 percent of the vote was won by Merkel’s center-right Christian Democratic Union (CDU) and its Bavarian sister-party the Christian Social Union (CSU). But lower…
After the major oil producers said at a meeting in Vienna the global market was well on its way toward rebalancing, the prices of oil rose on Monday to their highest in seven months. Reaching its highest since February 23, the November Brent crude futures contract was up 35 cents at $57.21 a barrel by…
In a bet it can improve the division’s lackluster margins over the next five years, Power grids maker ABB is buying General Electric’s Industrial Solutions business for $2.6 billion the Swiss engineering company said. Including an agreement for long-term use of GE’s brand and a strategic partnership, Zurich-based ABB sees potential for annual cost benefits…
In a desperate bid to retain its license od operating in London, Uber has pledged to make improvements in the way it reports serious incidents and called for holding talks with London’s transport regulator. Deeming Uber to be unfit to run a taxi service in the mega city, the British capital’s transport regulator decided not…
With the world’s richest nations dragging their feet on ways to find a common solutions on how to tax digital companies, including Facebook and Google, the European Commission has surged ahead in a bid to block some of the world’s wealthiest companies to exploit existing tax regulations to their favor. On Tuesday, U.S. companies operating…
The Vector Institute’s governing board includes Google, Uber and many of Canada’s largest banks. The institute is being set up as a global hub for artificial intelligence. The Vector Institute, which the Canadian government set up earlier this year in a bid to help establish Toronto as a global hub in artificial intelligence with more…
With the emerging e-commerce boom tapping only a fraction of retail brick and mortar sales, the vast potential for e-commerce has made Southeast Asia a battle ground for the world’s top online sellers, who are rapidly expanding their footprint in order to corner more marketshare. In a movie that marks the expansion of partnership between…
ABB sees a yearly potential for cost synergies of $200 million arising as a result of this acquisition. On Monday, Swiss engineering giant ABB stated it will be acquiring General Electric’s Industrial Solutions for $2.6 billion. The deal is help expand its footprint in the North American market. As a result of the deal, Zurich-based…
With Boeing giving signals that it intends to stand its ground, the trade dispute between Boeing and Canadian rival Bombardier is heating up. “This commercial trade dispute is very important to us. We’re not going to back down from it,” said Leanne Caret, CEO of Boeing’s defense, space and security business, in a television interview. “I hope…
In a move intended to match growing Chinese ambitions in particle physics, the development of a particle accelerator three times larger than the Large Hadron Collider that confirmed the existence of the Higgs boson is being contemplated by CERN, the European nuclear physics research organization. Design studies for a new circular super-collider that would be…
