Exclusive: General Electric’s power unit faces threat in Saudi Arabia
NEW YORK and ABU DHABI (Reuters) – One of General Electric Co’s (GE.N) largest and most valuable customers, Saudi Arabia, is lining up competitors to bid against GE for lucrative…
Thyssenkrupp in leadership turmoil as chairman quits
DUESSELDORF/FRANKFURT (Reuters) – The chairman of Germany’s Thyssenkrupp (TKAG.DE) has resigned, following the company’s chief executive under pressure from activist shareholders demanding a radical restructuring of the embattled industrial conglomerate.…
U.S. mergers help bank fees spike to record highs
NEW YORK (LPC) – A record $1.45 trillion of US syndicated lending to companies for acquisitions, leveraged buyouts, dividends and refinancing in the first half of the year has propelled…
Siemens, Alstom deal faces full-scale EU antitrust probe: sources
BRUSSELS/FRANKFURT (Reuters) – Siemens (SIEGn.DE) and Alstom (ALSO.PA) are set to face a full-scale EU antitrust investigation this week after declining to provide concessions to allay regulatory concerns about their…
Boeing’s engine proposal deadline looms for new mid-market jet: report
SEATTLE (Reuters) – Three of the largest engine makers face a Wednesday deadline to provide Boeing Co (BA.N) with formal proposals for how they would power the planemaker’s possible new…
UK ministers take aim at business over Brexit warnings
LONDON (Reuters) – The British government and business leaders clashed in a deepening row over Brexit on Sunday after a senior minister accused companies of issuing “completely inappropriate” threats and…
Siemens wins $2 billion contract to build new London Tube trains
LONDON (Reuters) – A division of Germany’s Siemens (SIEGn.DE) has been awarded a contract worth about 1.5 billion pounds ($2 billion) to design and build 94 new trains for the…
Sharp to buy Toshiba PC business, issue $1.8 billion in new shares
TOKYO (Reuters) – Japan’s Sharp Corp (6753.T) said it will buy Toshiba Corp’s (6502.T) personal computer business and issue $1.8 billion in new shares to buy back preferred stock from…
Emirates sees oil, dollar ‘double whammy’, but demand strong
SYDNEY (Reuters) – The president of Emirates airline said the rare combination of higher oil and a stronger dollar, which usually move in opposite directions, represented a “double whammy” in…
GE merges transportation unit with Wabtec in $11.1 billion deal
(Reuters) – General Electric Co (GE.N) confirmed on Monday it was unloading the bulk of its transportation business which makes train engines to Wabtec Corp (WAB.N), a U.S. manufacturer of…