Exxon Mobil Corp's Canadian unit is selling its retail gas stations in the country to five fuel distributors for C$2.8 billion ($2.1 billion). The transaction is expected to be completed by end of 2016 subject to the regulatory approvals.
Sectors
New York City Approves Time Warner Cable Acquisition, Arises Concerns
In a Wednesday's public meeting, Franchise and Concession Review Committee of New York City approve the acquisition. The merger will create the second-largest cable operator in the United States, which raised a concern.
Used-car values drop adds increased pressure to auto makers
The average price for used-car dropped modestly during February 2016, compared with the previous year period. According to Manheim, the median prices for used-vehicle in February amounted to $10,345, a decrease of 2% from the previous year period.
Nasdaq to acquire International Securities Exchange for $1.1bln
Nasdaq will acquire International Securities Exchange (ISE) for $1.1 billion from Germany's Deutsche Börse. The acquisition transaction is expected to close by end of 2016 year.
Audi rolls out new monster diesel SUV 'SQ7 TDI'
Audi has come out with a high performance diesel prototype sports utility vehicle (SUV) 'SQ7 TDI.' Audi is a premier brand of Volkswagen Group, which is facing regulatory investigation over emissions scandal pertaining to cheating software installed in diesel cars.
Latest News
Experts said the new chip-enabled or EMV credit and debit cards can help reducing fraud. However, incomplete adoption of chip cards and readers will make consumers and merchants vulnerable.
AMC Entertainment will acquire Carmike Cinemas to be the largest theater chain in North America. One Carmike's shareholder opposed the acquisition, citing the price offer was too low.
Owner of New York Stock Exchange, Intercontinental Exchange prepare its bidding on London Stock Exchange. The bid came in the midst of merger talk between London Stock Exchange and Deutsche Boerse.
SuperData Research reduced its 2016 virtual reality revenue outlook by 30%. The company expects to sell 16.8 million mobile VR instruments within 2016 end.
Asian stock market dropped starting Monday after three weeks rally. Concern over oil prices and economic outlook of China triggered the drop.
Indiegogo launched a year-long initiative to help give more support to female-led campaigns. Inspired by women entrepreneurs, the crowdfunding platform plans to host events and consultations for female-led campaigns, supported by other organizations.
Imperial Oil has entered into an agreement to sell its 497 Esso retail fuel stations for about C$2.8 billion. This transaction reflects the company's aim to widen its refining and oil sands businesses.
The defense contractor will cut workers from its aircraft division, Lockheed Martin Aeronautics Company. The company announced on Tuesday to offer voluntary lay off to its employees.
U.S. Commerce Department puts export restriction on ZTE for violating export restriction to Iran. Starting Tuesday, ZTE will not be able to acquire U.S. products without export license
