Wanda Group, one of the largest Chinese buyers of foreign assets, announced sale of hotels and tourist facilities to a competitor company. The deal is the largest in the Chinese real estate market’s history. Chinese company Dalian Wanda Group reached an agreement on the sale of 76 hotels for 63.2...

Shares of Abercrombie & Fitch fell by almost 20%, after the retailer announced termination of negotiations with several potential buyers. Arthur Martinez, the group’s executive director, informed about the crumbed deal. As a result, this Monday has become the worst trading day for the American...

New light on the $13.7 billion acquisition was shed after a regulatory filing showed that in a sale process for the U.S. grocer that involved other bidders, Amazon.com Inc had told Whole Foods Market Inc it would not engage in.   In order to convince Whole Foods to accept a sale process that...

Stepping up its pursuit of steady profits from utilities and infrastructure deals, Warren Buffett's Berkshire Hathaway Inc said it has agreed to buy the parent of Texas power transmission company Oncor Electric Delivery Co. for $9 billion.   Buffett's Berkshire Hathaway Energy unit will...

Italian lender Banca Monte dei Paschi di Siena SpA presented a five-year restructuring plan that includes cutting thousands of jobs and selling assets after the European Union announced that the bank could receive billions of euros in the form of state aid, reports Bloomberg. Monte dei Paschi is...

Italian taxpayers now stand responsible for over 22 billion euros ($25.4 billion) of bailout money recently extended to the sector as the Italian state has stepped in with funding to save yet another failing bank.   In exchange for the lender undertaking a major restructuring overhaul,...

In a plan that promises to create almost half a million jobs and with the aim to extend its lead in memory chips and next-generation smartphone displays, Samsung Electronics Co Ltd said that it will invest at least $18.6 billion in South Korea.   It is expected that Samsung would be...

Finnish manufacturer of mobile phones Nokia and Chinese vendor Xiaomi Technology have signed a licensing patent agreement. According to the companies, the transaction implies mutual provision of a cross-license. In addition, Nokia will supply Xiaomi with network infrastructure equipment. The...

With GlaxoSmithKline unveiling a new $43 million deal in the field, in order to improve the hit-and-miss business of finding new medicines, the world's leading drug companies are turning to artificial intelligence.   Also exploring the potential of artificial intelligence (AI) to help...