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 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…
Oil and gas players with interests in the disputed zone are put in a bad place as the world’s second-largest economy threatens military action in the South China Sea. For the Spanish energy firm Repsol, that was the case. After Beijing warned the Southeast Asian country that it would attack bases if operations continued, the subsidiary…
A new report published recently notes that with values soaring 25 percent over the past 12 months, fine wine is now the best-performing collectible of the world’s wealthy collectors. Wine has replaced classic cars as the top collectible, found the Knight Frank Luxury Investment Index, which tracks the price growth in the major categories of…
It is a question that is making the rounds of economic circles as well as the technology world how has Estonia managed to become a leader in technology and innovation? The answer is in the past, believes Estonian-born CEO and co-founder of TransferWise, Taavet Hinrikus. “We (Estonia) kind of started rebuilding the nation in 1991…
Amazon’s virtual assistant Alexa will be enabled to be summoned anytime, anywhere by a pair of “smart glasses” its first wearable device that Amazon is working on, according to media reports quoting sources. The reports said that to enable it to be worn comfortably and unobtrusively, the device is designed to look like a regular…
With the aim of satisfying app developers and adding new so-called augmented reality apps, significant changes to its marketplace for third-party software have bene introduced by Apple Inc’s newest operating system for iPhones and iPads. Even as the its two newest phone handsets, the iPhone 8 and iPhone X, set to start shipping to customers…
Thanks to a crushing debt load from a previous buyout and relentless competition from warehouse and online retailers, the once-dominant specialty retailer and ultimate toyland for a generation of post-war baby boomers – Toys “R” Us Inc., filed for bankruptcy. The gravitational pull of Amazon.com Inc., which has revolutionized the way people consume with affordable…
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