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…
Airbus and Boeing see an increase in the demand for short-haul aircrafts for this region where low-cost carriers are aggressively servicing consumers’ demand for air travel. On Friday, Boeing Co stated it has increased its 20 year forecast for Southeast Asian demand by 460 aircraft. This marks the largest jump for any region in the…
By reducing 5,000 employees from its global workforce, HPE is broadening its cost cutting strategy. Bloomberg has reported citing sources familiar with the matter at hand, Hewlett Packard Enterprise Co is planning on cutting at least 5,000 workers from its employee strength, as it focuses on broadening its efforts at cost reductions midst mounting competition.…
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