BUSINESS January 10, 2014 | 2:55 PM
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.Read more »
BUSINESS January 9, 2014 | 2:30 PM
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.Read more »
BUSINESS January 7, 2014 | 4:28 PM
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.Read more »
BUSINESS January 6, 2014 | 5:09 PM
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.Read more »
BUSINESS December 24, 2013 | 5:53 PM
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.Read more »
BUSINESS December 23, 2013 | 5:50 PM
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.Read more »
BUSINESS December 18, 2013 | 1:54 PM
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.Read more »
BUSINESS December 13, 2013 | 6:23 PM
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.Read more »
BUSINESS December 13, 2013 | 4:23 PM
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.Read more »
BUSINESS December 12, 2013 | 5:43 PM
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.Read more »
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