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Business News - part 7

General Electric To Purchase Thermo Fisher Scientific Assets For $1.06 Billion

General Electric To Purchase Thermo Fisher Scientific Assets For $1.06 Billion

BUSINESS

  • General Electric to expand its health unit, namely life sciences sector, by purchasing Thermo Fisher Scientific
  • Deal to allow GE to grow cell culture, analyze protein and create innovative medicines, among other advancements
  • Thermo Fisher to leverage deal for European regulatory approval of its $13.6 billion Life Technologies Corp. purchase

General Electric Co. (GE) will purchase assets - including magnetic beads businesses and gene modulation, HyClone (TM) cell culture media and sera - from Thermo Fisher Scientific for $1.06 billion. The acquisition represents the expansion of the company’s health unit into the rising life sciences market, and is expected to close in the first quarter of this year, pending regulatory approvals.

GE Healthcare’s present mandate is to offer customers the medical services and technologies needed to meet increasing demand for easy-access, high-quality, economical healthcare globally. With this deal, GE will also have access to equipment used for purifying DNA and growing cell culture, as well as to a business that can help produce significant new vaccines and medications. Cell culture is used in the creation of medicines that fight rheumatoid arthritis, cancer and other diseases, the company said.

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$10 Billion Spent On Apple Apps In 2013

$10 Billion Spent On Apple Apps In 2013

BUSINESS

  • December record month with $1 billion in sales for Apple apps
  • Developers receive 70% of sales
  • Gap between Apple and Android stores closing

Apple iPhone, iPad and iPad Touch users spent $10 billion on apps from the Apple App Store in 2013, according to the company.

Sales figures include $1 billion in December alone, the most successful month in the store’s history, and downloads grew 50% to 3 billion.

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Automotive Update: Ford Sales In China Grew 49% In 2013

Automotive Update: Ford Sales In China Grew 49% In 2013

BUSINESS

  • Ford now China’s fifth-largest foreign automaker
  • Ford has trailed behind Japanese manufacturers for past decade
  • Leading four automakers secure at top: Volkswagen, General Motors, Nissan and Hyundai

American automaker Ford Motor Co. saw sales in China jump 49% in 2013, surpassing Toyota to become China’s fifth-largest foreign automaker. In 2013, Ford delivered a total of 935,813 automobiles in China.

Ford had a later start in China, the world’s largest auto market, than other automakers, and has trailed behind Japanese manufacturers for the past decade. This is the first time, based on company records dating back to 2001, that Ford has surpassed Toyota.

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Cathay Pacific Airways First Buyer In Asia For Boeing 777X

Cathay Pacific Airways First Buyer In Asia For Boeing 777X

BUSINESS

  • Cathay-Boeing deal estimated at $7.5 billion
  • Cathay replacing less fuel-efficient fleet
  • 777X uses latest technology

Hong Kong-based international carrier Cathay Pacific Airways is the first buyer in the Asia region for the new Boeing 777X jet. Attempting to modernize its fleet, Cathay has ordered 21 777X-9Xs at a list price of $7.5 billion.

Cathay is replacing its aging a fleet of 747-400 jets; it has a fleet of 134 planes and will use the 777Xs for flights to Europe and North America.

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Oracle Pays $1.5 Billion For Enterprise Software Maker Responsys To Expand Into Online Marketing

Oracle Pays $1.5 Billion For Enterprise Software Maker Responsys To Expand Into Online Marketing

BUSINESS

  • Responsys to become part of a package of business services called Oracle’s Customer Experience Cloud
  • Oracle adding services to remain relevant
  • Cloud services to see future growth

Oracle, the world’s largest seller of database software, has agreed to purchase enterprise software company Responsys for about $1.5 billion to further expand into online marketing.

Responsys manufactures software that lets companies provide social advertising across the internet and coordinate their display, email and mobile efforts. Its customers include United Healthcare, Southwest Airlines and LinkedIn.

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Pharma Giant AstraZeneca Buys Bristol-Myers Squibb’s Diabetes Business For $4 Billion

Pharma Giant AstraZeneca Buys Bristol-Myers Squibb’s Diabetes Business For $4 Billion

BUSINESS

  • Deal ends partnership between the companies
  • Diabetes drugs to bring in more revenue
  • Number of diabetics expected to increase to 550 million

Pharmaceutical giant AstraZeneca is purchasing Bristol-Myers Squibb’s half of the diabetes business the companies formed in 2007 for up to $4.3 billion.

To take control of the franchise, $2.7 billion will be paid up front with $1.4 billion paid in future payments, with an additional $225 million following the completion of asset transfers. Sales-related royalties also will be paid until 2025.

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Facebook Buys Sports Data Startup SportStream

Facebook Buys Sports Data Startup SportStream

BUSINESS

  • SportStream app allows user to search internet for sports references
  • Facebook aims to provide meaningful content to users; allow partners to collect and use insight
  • Integration to give Facebook real-time data analysis

Social media network Facebook has purchased sports data startup SportStream for an undisclosed amount.

SportStream’s app searches social networks and news websites for references to sports teams and sporting events.

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US Retail Sales Jump 0.7% in November

US Retail Sales Jump 0.7% in November

BUSINESS

  • Jump beats economists forecast of 0.6%
  • Consumer confidence appears to be growing
  • Economists have revised fourth quarter figures

US retail sales grew 0.7% in November, beating economists’ forecast of 0.6%. The gain was the largest in five months and defied expectations for a slow holiday season.

The November figure includes one of the biggest days of the holiday shopping season, Black Friday, but excludes Cyber Monday.

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European Military Budget Cuts Lead To Loss Of 5,800 Jobs At EADS

European Military Budget Cuts Lead To Loss Of 5,800 Jobs At EADS

BUSINESS

  • Job cuts include 1,300 temporary and 4,500 permanent staff, or roughly 5% of EADS labor force
  • Most cuts to come from France and Germany
  • Job losses part of strategic plan to turn focus from failing defense market to booming commercial jet market

Airbus parent European Aeronautic Defense and Space (EADS) plans to cut 5,800 jobs over the next three years in response to European government military budget cuts.

The job reduction will consist of 1,300 temporary and 4,500 permanent staff, roughly 5% of EADS’ international labor force of around 133,000. Of the 4,500 permanent staff who are let go, most will come from early retirement or other voluntary measures. Also, 1,500 staff will be given the option to transfer to EADS’ Eurocopter or Airbus units.

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China Mobile Taking Preorders For iPhone 5S

China Mobile Taking Preorders For iPhone 5S

BUSINESS

  • Preorders also being taken for competitors’ models
  • Apple could see 17% increase in sales
  • Carrier about to launch 4G to its customers

China Mobile Ltd., the world’s largest mobile carrier by subscribers, is prepared to begin taking preorders for the iPhone 5S and 5C, after signing a deal with Apple.

Pricing plans have yet to be released, but the carrier hopes it can lure customers to more popular data plans.

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