• General Electric Selling Appliance Division For $5.4 Billion
General Electric Selling Appliance Division For $5.4 Billion

The purchase is the third in a string of multibillion-dollar foreign acquisitions this week by Chinese buyers. Haier is best known in North America for compact appliances, such as air conditioners.

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  • Oil prices tumble to new 12-year lows
Oil prices tumble to new 12-year lows

Investment bank Jefferies slashed its Brent price forecast by 30 per cent to $US43 a barrel, from a previous projection of $US61 a barrel. Data showing that United States crude inventories rose 234,000 barrels last week, much less than expectations, was overshadowed by reported builds of 8.4 million barrels in gasoline and over 6 million in disti...

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  • Industry NewsGE sells appliances business to China's Haier for $5.4bn
Industry NewsGE sells appliances business to China's Haier for $5.4bn

Hong Kong: China's Haier Group agreed to buy General Electric Co.'s (GE's) appliance business for $5.4 billion in what would be the country's biggest acquisition of an overseas electronics company. "There is plenty of room for growth in these markets, as only 1.1% of GE's appliances sales volume comes from Asia Pacific and 0.5% from Middle Eas...

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  • Woman spends too much money on Powerball, starts GoFundMe page
Woman spends too much money on Powerball, starts GoFundMe page

Her Facebook page  shows the entire ploy may have been a prank. All of Cinnamon's donations were returned to their donors. It's not clear if she shut it down herself or if the crowdfunding site deleted her page. As kids, we're taught that you never know unless you try, but this Tennessee woman took things to the extreme and tried  super  hard to ...

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  • GE sells appliance business to China's Qingdao Haier for $5.4 bln
GE sells appliance business to China's Qingdao Haier for $5.4 bln

GE's this deal with china based company is Haier's biggest ever, will give an improvement to its US business, which alleged less than 5% of the market previous year. Though, if this transaction goes through, Haier would become the largest player for white goods in the US. That means the two have little geographic overlap.

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  • Airbus orders flypast Boeing in 2015
Airbus orders flypast Boeing in 2015

Deliveries are seen by many as a truer reflection of the state of the market and health of an aircraft manufacturer than sales, as airlines do not pay for new jets until they take delivery of them. On the other side of the globe in China, additional orders for the A330 not only complements our plans for a new A330 completion and delivery Centre i...

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  • Haier To Buy General Electric's Appliances Business For $5.4B
Haier To Buy General Electric's Appliances Business For $5.4B

Sales for the GE Appliances and Lighting, of which appliances is the lion's share, were $8.4 billion in 2014. " Haier not only brings global scale and growth opportunity to GE Appliances, but - very importantly - we also keep the HQs and existing great leadership and full complement of employees here in Louisville".

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  • Haier to Acquire Appliance Unit of GE
Haier to Acquire Appliance Unit of GE

GE expects to offset the gain with restructuring in 2016. General Electric Co (GE.N) said it would sell its appliance business to China's Haier Group for $5.4 billion (3.76 billion pound) in cash, another step in its push to sell its non-core assets and project itself as a technology company.

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  • VW exec predicts US fixes for emissions test cheating
VW exec predicts US fixes for emissions test cheating

Volkswagen has admitted it installed software in certain diesel models sold in the US that allowed the cars to pass government emissions tests, but then emit almost 40 times the allowed levels of pollutants on the road. Volkswagen A.G.'s brand chief isn't giving up on diesels in the US market. Connecticut Attorney General George Jepsen blasted V...

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  • Haier Group looking to takeover GE appliances
Haier Group looking to takeover GE appliances

Since then, Haier has re-launched the $500 million business as a mass-premium lifestyle line, and could ostensibly leverage GE's considerable prowess in laundry, bottom-mount refrigeration, logistics, R&D and the contract channel. Haier sells niche products such as window air-conditioning systems and compact refrigerators in the US. Noverini sai...

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  • Airbus beats Boeing in 2015 order race
Airbus beats Boeing in 2015 order race

All Nippon Airways Co. of Japan has agreed to purchase three A380s, a person familiar with the plan said this month. Both the carrier and the manufacturer declined immediate comment on the matter. Fabrice Bregier, Airbus president and CEO, said: "This commercial and industrial performance unequivocally proves that global demand for our aircraft has...

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  • Volkswagen Is Hit With A New Civil Lawsuit
Volkswagen Is Hit With A New Civil Lawsuit

The civil lawsuit does not preclude the Justice Department from pursuing criminal charges against Volkswagen, said the Justice Department official. VW declined to comment on the progress of talks with the EPA, on whose behalf the U.S. Justice Department filed the lawsuit, or on Mueller's plans.

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  • 19th-century shipwreck found in MH370 search
19th-century shipwreck found in MH370 search

They showed the image to experts at the Shipwreck Galleries of the Western Australian Museum who said the wreckage is probably a ship made of steel or iron from the early 19th century. “The wreck was found under water 3.7 kilometers (12,100 feet) deep, 2,600 kilometers (1,600 miles) southwest of the Australian port of Fremantle where the th...

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  • Malaysia airlines imposes baggage restrictions
Malaysia airlines imposes baggage restrictions

The longer flight path to Europe now takes the Boeing 777 aircraft over Egyptian airspace, which according to the airline, was decided due to safety reasons. On Twitter, responses to the airline's January 4 announcement of the temporary restrictions ranged from bafflement to anger, with many questioning why other airlines weren't imposing similar b...

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  • Futures lower as Chinese stocks enter bear market
Futures lower as Chinese stocks enter bear market

The good cheer spread to E-mini futures contracts for the S&P 500 which climbed 0.8 percent. USA stocks advanced strongly on Thursday, as oil prices rebounded, instilling confidence in risky investments. In many ways, this has been a week of markets finding their feet again following a terrible start to the year, triggered primarily by strong...

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  • Walmart to Lose 269 Stores, 154 in US; 10000 Employees Impacted
Walmart to Lose 269 Stores, 154 in US; 10000 Employees Impacted

They said 95% of the closing U.S. stores are located within 10 miles of a store that is not closing. Walmart's global workforce is 2.2 million worldwide, with 1.4 million workers at 4,500 stores in the US. The company has also said that they still plan to open another 69 stores in the United States by the end of the month, which will restore at l...

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  • Saraki to meet International Monetary Fund chief Lagarde today
Saraki to meet International Monetary Fund chief Lagarde today

She backed Buhari's fight against corruption terming it "very important" and said the president's reform push could have a positive impact in the region.

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  • Middle East crisis deepens as Saudi Arabia allegedly bombs Iran's embassy
Middle East crisis deepens as Saudi Arabia allegedly bombs Iran's embassy

Somalia joins Saudi Arabia, Sudan and Bahrain in cutting ties to Iran amid the crisis. Rejection of the pipeline actually could increase carbon emissions by some 42 percent due to an increase in truck, rail and barge traffic needed to transport oil from Canada's western tar sands to refineries along the U.S.

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  • First NYC trial underway in GM ignition switch recall case
First NYC trial underway in GM ignition switch recall case

Mr. Scheuer blames the faulty switch for the failure, which he says occurred even though he had followed the vehicle company's instructions to remove all other keys from his key ring while driving.

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  • Dalian Wanda clinches deal for Legendary Entertainment
Dalian Wanda clinches deal for Legendary Entertainment

A deal with Wanda would give Burbank-based Legendary a stronger foothold in a market expected to surpass the size of the North American box office by 2017, according to The Times. Japanese telecommunications firm SoftBank Group Corp. and investment firm Waddell & Reed Inc. have also agreed to sell their stakes in the company, Reuters said.

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