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Strategic Alliances

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  • Elon Musk's SpaceX drops lawsuit against Air Force Saturday, 24 Jan 2015 | 12:17 PM ET

    WASHINGTON— A private spacecraft company run by billionaire Elon Musk has dropped a lawsuit alleging the U.S. Air Force improperly awarded a contract to launch military satellites to a joint venture between Boeing and Lockheed Martin. Musk's SpaceX filed the lawsuit in the U.S. Court of Federal Claims in April after Boeing Co. and Lockheed Martin Corp. landed...

  • Jan 23- Expedia Inc has acquired online travel agency Travelocity from technology company Saber Corp for $280 million in cash, the companies said in a statement on Friday, as consolidation in the online booking industry continues. The deal follows a 2013 marketing agreement in which Expedia Inc's technology powered platforms for Travelocity's U.S. and...

  • WASHINGTON, Jan 14- U.S. Air Force Secretary Deborah James said on Wednesday she was disappointed that SpaceX was not certified to launch military and spy satellites by the end of December as hoped, but added she was confident the company would complete the process soon. James said the Air Force remained committed to completing the certification process as...

  • HONG KONG, Jan 14- China has allowed foreign investors to fully own e-commerce companies in Shanghai's free trade zone as part of a pilot scheme, the official Xinhua news agency said on Wednesday, citing the Ministry of Industry and Information Technology. Since the launch of the free trade zone in September 2013, policy makers have trumpeted reforms and relaxed...

  • MEXICO CITY, Jan 9- Mexico's telecommunications regulator has fined both Carlos Slim's fixed-line unit Telmex and satellite TV provider Dish Mexico for failing to disclose fully a tie-up between them, the companies said in separate statements on Friday. Dish Mexico was fined 43 million pesos while Telmex was fined 14.4 million pesos. Dish Mexico is a joint...

  • The Air Force said on Tuesday it was "close" to certifying a new company to launch large U.S. military satellites, but did not name SpaceX. On Wednesday, the Air Force expanded its statement with details about its review of SpaceX, and said the privately held company founded by entrepreneur Elon Musk "is making substantial progress" toward being allowed to compete...

  • Lieutenant General Samuel Greaves, commander of the Air Force Space and Missile Systems Center, said in a statement late on Tuesday that the Air Force had missed a December deadline for certification, but added that "a new entrant is close." The Air Force previously said it hoped to complete certification in December so SpaceX could be eligible to compete for the...

  • SAN JOSE, Costa Rica, Jan 6- China and Costa Rica have signed a partnership agreement that could give Chinese firms a foothold in the country, the Costa Rican government said in a statement on Tuesday, another sign of expanding Chinese influence in Central America. The statement, sent from China, said that during a trip to Beijing, Costa Rican President Luis...

  • Tesco's most lucrative non- UK assets are its businesses in South Korea and Thailand, which could be sold outright or made separate businesses with local management teams and listed locally. The South Korea business is seen as worth around 4 billion pounds, and Thailand worth up to 5 billion pounds. Tesco has businesses in Poland, Hungary, Czech Republic and...

  • Jan 5- Verizon Communications Inc approached AOL Inc about a potential acquisition or joint venture to expand its mobile-video offerings, Bloomberg reported, citing people with knowledge of the matter. Verizon has not made a formal proposal to AOL, and no agreement is imminent, Bloomberg said, citing people who asked not to be named. Verizon is seeking expertise...

  • Verizon approaches AOL on potential deal - report Monday, 5 Jan 2015 | 7:55 PM ET

    Jan 5- Verizon Communications Inc approached AOL Inc about a potential acquisition or joint venture to expand its mobile-video offerings, Bloomberg reported, citing people with knowledge of the matter. Verizon has not made a formal proposal to AOL, and no agreement is imminent, Bloomberg said, citing people who asked not to be named. Verizon is seeking expertise...

  • PARIS, Dec 14- French hotel operator Accor announced a strategic alliance with China Lodging Group on Sunday to create a major new player in the fast-growing Chinese domestic travel and hospitality market. The partnership "will leverage the strengths of Accor's global brands with a leading player in Chinese hospitality," Accor Chairman and Chief Executive...

  • PARIS, Dec 14- French hotel operator Accor announced a strategic alliance with China Lodging Group on Sunday to create a major new player in the fast-growing Chinese domestic travel and hospitality market. The deal will combine the French hotel operator's brands including Ibis with more than 2,000 existing establishments run by China Lodging's Huazhu...

  • LAUNCESTON, Australia, Dec 11- If you were looking for a sign that coal prices have finally bottomed out, then the ramping up of merger and acquisition activity is often a good indicator. In the past few days, a flurry of announcements have hit the headlines, including Anglo American's proposed sale of coal assets in Australia and South Africa, and Peabody Energy and...

  • Censors loom over Sony PlayStation's China prospects Wednesday, 10 Dec 2014 | 6:19 PM ET

    Sony Corp should fear China's censors as it prepares to unveil the price and release date of its PlayStation 4 gaming console in the world's third-largest gaming market.

  • SHANGHAI, Dec 11- Sony Corp should fear China's censors almost as much as rival Microsoft Corp as it prepares to unveil the price and release date of its PlayStation 4 gaming console in the world's third-largest gaming market. The announcement, due to be made in Shanghai around 0900 GMT on Thursday, comes hot on the heels of the launch of Microsoft's Xbox console in...

  • Dec 10- The Financial Times and Madrid's IE Business School launched a joint venture on Wednesday aimed at corporate executives looking to expand their education. Several business schools across the world including the Yale School of Management and Antai Business School in China are taking part in the corporate learning program. The FT, which is owned by...

  • SAO PAULO, Dec 3- In a sign of the distortions plaguing Brazil's stagnant economy, a wide range of companies are sharply cutting back output of their main products to instead sell electricity back into the national grid because it is more profitable. Usiminas, Brazil's biggest producer of flat steel, said in its latest earnings report that revenues from...

  • BEIJING, Dec 3- The president of Sinopec Group's oilfield services unit has been dismissed and is currently under investigation, state media reported on Wednesday. State media reported last month that China's corruption watchdog had launched a series of inspections into state-owned enterprises and government bodies including Sinopec Group, the parent of...

  • Airbus, Safran inaugurate space launcher venture Wednesday, 3 Dec 2014 | 3:45 AM ET

    PARIS, Dec 3- Aerospace groups Airbus and Safran formally inaugurated a joint venture to pool their space launcher activities on Wednesday, aiming to secure the future of the Ariane rocket and cut costs in the face of U.S. launch rival SpaceX. The announcement came after 20 European nations agreed at ministerial talks in Luxembourg to launch the Ariane 6 in 2020..