Glencore is possibly nearer to a deal with Canda’s largest pension fund to sell 40% stake in its agriculture business. CPPIB has agreed to pay $2.5 billion against a total valuation of $6 billion. However, there is no guarantee that the deal will surely take place.
Industry
Clothing and Accessories Emerged as The Biggest Category in E-Commerce, Outpacing Computer Hardware Sector
Clothing and accessories sector is outpacing other sectors in e-commerce sales. Some factors, including better shipping and return policies and changes in mobile uses, are encouraging more people to make more small purchases online.
China OEM Meizu Unveiled Its Long-Awaited m3 note
Meizu already unveiled its newest model m3 note. The Chinese OEM is keeping its concept of quality devices with affordable prices, which makes the brand popular in China’s market.
Nest Considered to Compensate Customers for Disabling Revolv Smart Home Hub
Nest sparked outrage this week for disabling its smart home hub. It raises concern about customers right and ownership in the IoT era.
China’s Anbang Acquired Allianz’s South Korea Operations After Dropping Its Bid for Starwood Hotels
Anbang Insurance is acquiring Allianz’s operations in South Korea after dropping its offer to buy Starwood hotels. The deal is waiting for approval from South Korea’s financial regulator.
Latest News
Pfizer, a US-based drug company, is said to dismiss its merger deal with Allergan. The US drugmaker wants to quit from the $160 billion merger deal since Washington authorities set new rules, making corporate inversions harder.
Stock prices in the Asian markets gained on Wednesday following a steep decline in the past session. Asia-Pacific shares excluding Japan in MSCI increased 0.1% during the early trading session after a 1.6% fall in the previous day.
Societe Generale said that it stood by all the rules of its operating nations. The bank confirmed that it no longer detained any establishments in the process in the Non-Cooperative Countries and Territories.
Lumber Liquidators won a civil case, which had alleged the company for violating a state law in California that urges companies to report warnings regarding the possible harmful substances in their products.
Wal-Mart pledged not to sell eggs from caged hens by the year 2015. It supports the advocacy of the well treatment of the fowls assuring it has enough food and space to roam around and free from mental distress that result in more egg production.
US oil prices gained 5.18 percent owing to an unexpected drop in domestic crude stockpiles. US crude stocks eased by 4.9 million barrels last week as imported declined.
Samsung is establishing itself as India’s number one smartphone manufacturer. The company credits strong sales for its new series of mid-tier products with new special features.
Nvidia has unveiled its first supercomputer, DGX-1, which uses both alternative intelligence and deep learning technology. The supercomputer, costing around $129,000, by no mean suggests that newer technologies will become cheaper. However, the new GPU has been welcomed by the researchers and potential users considering its widespread prospect.
United States Justice Department has prepared a lawsuit to block acquisition of Baker Hughes. Halliburton took over the company in November 2014.
