Mobile telecoms equipment maker Nokia Siemens Networks (NSN) decided to hive off its optical fiber networks unit to private equity firm Marlin Equity Partners in a bid to focus solely on mobile broadband.
Industry
AIG to Sell 90 Percent Stake in ILFC to Chinese Consortium for $4.8 Billion
US insurer American International Group Inc (AIG) has decided to sell 90 percent of its stake in ILFC, the world’s largest aircraft leading business, to a Chinese consortium –comprising New China Trust, which is one-fifth owned by Barclays Plc, China Aviation Industrial Fund and P3 Investments Ltd -- for a total consideration of $4.8 billion. An arm of Industrial and Commercial Bank of China will join the consortium once the deal has regulatory approval.
McDonald's 'Dollar Menu' Sparks November Sales Rebound
McDonald's Corp's sales at established restaurants rose more than expected in November as a renewed emphasis on low-priced menu options, such as $1 Sausage McMuffins and coffee, helped the company bounce back from a rare decline in October, it said on Monday.
Judge Muzzles Goldman, Lawyers at Dragon Speech Recognition Trial
A U.S. federal judge on Monday ordered Goldman Sachs Group Inc to take down statements from its website related to its representation of Dragon Systems in a 2000 sale that blew up when acquirer Lernout & Hauspie went bankrupt after accounting regularities emerged.
Goldman Sachs Fined $1.5 Million for Trading Glitch
Goldman Sachs Group Inc was fined $1.5 million to settle charges it failed to supervise its traders and allowing one futures dealer to hide billions in dollars from sight and causing a $118 million loss.
Latest News
Swiss bank UBS AG is nearing a deal to settle claims some of its staff manipulated interest rates and could reach agreement with U.S. and British authorities by the end of the year, a person familiar with the matter said on Monday.
Auto sales in November were helped by a rebound from storm-ravaged October and the need to replace aging vehicles which put the industry on pace for a near five-year high and left executives optimistic about 2013.
Stocks fell on Monday, with the S&P 500 and Nasdaq erasing early gains as disappointing U.S. factory numbers curbed optimism spurred by positive data on China's economy.
Japanese conglomerates Mitsubishi Heavy Industries and Hitachi Ltd have decided to merge their thermal power businesses to take a vantage position in the domestic fossil-fuel power business.
Even as ConocoPhilips clears the deck for sale of its 8.4 percent stake in Kazakhstan oil field Kashagan to India's oil & gas major ONGC Videsh for a total consideration of about $5 billion, some of ConocoPhillips' partners in the oilfield project could still exercise their right of first refusal on the stake.
The U.S. economy grew faster than initially thought in the third quarter as restocking by businesses provided a big boost, but consumer and business spending were revised lower in a sobering reminder of the recovery's underlying weakness.
The system of so-called "shadow banking" blamed for aggravating the global financial crisis grew to $67 trillion globally last year, a new high, amid calls from the world's top policymakers for greater control of the sector.
Gravity has taken hold of Apple, and a lot of investors have been smacked on the head. (Reuters) - Gravity has taken hold of Apple, and a lot of investors have been smacked on the head.
Hostess Brands Inc, the bankrupt maker of Twinkies snack cakes and loaves of Wonder Bread, is seeking a U.S. court's permission to go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers.
