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Halliburton in talks to buy billionaire Kaiser's equipment firm
Halliburton Co (HAL.N) is in late-stage talks to acquire a fast-growing US oilfield equipment supplier backed by Oklahoma energy and banking billionaire George Kaiser, according to sources familiar with the matter. Houston-based Halliburton has set its sights on Summit ESP Inc, said the sources, who spoke in recent days. Sales talks between Halliburton and Summit have been on and off several times in the last year over valuation differences.
Cyberattack Reaches Asia-Pacific, Though Focus Remains on Europe
Far, the cyberattacks have generated just over $9,000 in ransom payments, a figure that is likely to steadily rise over the coming days. The virus also spread to the Australian branches of DLA Piper, a law firm with offices around the world. Sign Up You agree to receive occasional updates and special offers for The New York Times's products and services. Across Asia many computers run outdated or pirated versions of Windows and are particularly vulnerable to malware.
Alibaba spending $1 billion to raise stake in Southeast Asia's Lazada
Chinese e-commerce giant Alibaba Group Holding Ltd will invest an additional $1 billion in Southeast Asian online retailer Lazada Group, boosting its stake by nearly a third to 83 percent, the two companies said in a joint statement. The move doubles Alibaba's investment in the firm after last year's deal to buy a controlling stake in Lazada for about $1 billion. In the twelve months ended March 31, 2017, Lazada had about 23 million annual active buyers, according to Alibaba's annual report.
Nissan's premium brand Infiniti courts NBA's Stephen Curry
Japanese automaker Nissan Motor Co Ltd's premium brand Infiniti will announce a marketing agreement with US basketball star Stephen Curry on Wednesday, according to a company statement seen by Reuters. The campaign including television would be rolled out in the United States, China and other markets to coincide with the launch. The US is our biggest market and China is our biggest growth market, so partnering with Mr Curry.
Amazon's Vision of Computing's Future: An Information Appliance
The Echo Show is a remarkable machine, not just for what it is now but for the way it clarifies Amazon's vision of the future of computing. It's becoming the model for a new kind of communal, household computer - a resurrection of Mr Raskin's idea of an information appliance, as opposed to Mr Jobs's vision of an all-purpose PC. The primary knock on Mr Raskin's information appliance was that it didn't do a whole lot.
Activist investor calls Hong Kong market rout
'DUMP AND RUN' Webb, an outspoken critic of the Hong Kong market since he quit the HKEX board in 2008, said it was unclear what triggered Tuesday's sell-off. He also blamed the independent market regulator, the Securities and Futures Commission (SFC), for not stopping it. The investor activist said Hong Kong also needs a class action legal provision so investors can hold boards accountable. HSI trading at around 14 times earnings, versus 22 times for world stocks and 23 times for US equities.
Japan, EU press ahead on free trade pact to counter U.S. protectionism
The momentum is building for Japan and the EU to take leadership in promoting and executing free trade. In a sign of optimism, EU trade chief Cecilia Malmstrom said on Monday she could sign a provisional deal with Japan as early as next week. Although, together Japan and the EU account for about a third of global GDP, their trade relationship has a lot of room to grow - EU forecasts reckon by as much as a third.
Philips to buy U.S. Spectranetics in 1.9 billion euros deal
Spectranetics uses techniques including lasers and tiny drug-covered balloons to clean the insides of veins and arteries that have become clogged due to heart disease. Separately, Philips announced a new 1.5 billion euro share buyback program that will begin in the third quarter and run for two years.
Oil pipeline firms' discounts rile clients, roil markets
US pipeline operators are selling their underused space at steep discounts to keep crude flowing - angering shippers and distorting an already opaque market for oil trading. Now, in the wake of a two-year oil price crash, pipeline firms are still struggling to keep their lines full. The discounts emerged after a global glut and crashing oil prices caused many shippers to let their pipeline contracts lapse or declare bankruptcy.
Japan Tobacco tries to catch up with rival in smokeless tobacco
Japan Tobacco Inc (2914.T) said on Wednesday it hoped to catch up with Philip Morris International Inc (PM.N) in smokeless tobacco by expanding the number of smoke-free restaurants and public places that allow its vaping product. Tobacco firms see Japan as a test ground for vaping products, as e-cigarettes using nicotine-laced liquid are not allowed under the country's pharmaceutical regulations. Japan Tobacco said it had sold 250,000 Ploom Tech devices by the end of last year.
A New Kind of Tech Job Emphasizes Skills, Not a College Degree
We need new approaches, or we're going to leave more and more people behind in our economy, said Brad Smith, president of Microsoft. It is unclear whether a relative handful of skills-centered initiatives can train large numbers of people and alter hiring practices broadly. Without a college degree, Ms Clark said, her horizons seemed confined to low-wage jobs in fast-food restaurants, retail stores or doctors' offices. The TechHire program, she said, could be a doorway to a good-paying job, which is everything here.
Daily Report: New Chapter in Europe vs. American Tech Behemoths
Europe has long been tough on American tech companies. European regulators have dinged the behemoths on antitrust, privacy and tax issues. This week, Europe's tension with American tech giants rose another notch. Sign Up You agree to receive occasional updates and special offers for The New York Times's products and services. There are other issues to untangle, such as how Google will comply with the decision to crimp its power.
Toshiba Misses Its Deadline for a Deal for Its Microchip Unit
Toshiba had intended to sign a final agreement with the group before its annual shareholder meeting on Wednesday. The company needs a deal to fill a vast hole in its balance sheet. The company is an owner, with Toshiba, of a NAND production operation in Japan that is part of Toshiba's larger microchip subsidiary under negotiation. It did not disclose terms, except to say that it was willing to provide Toshiba with debt financing.
Asia stocks pressured as Wall St. hit by healthcare vote delay
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 percent in early trading, while Japan's Nikkei share average also slipped 0.2 percent. Against the perceived safe-haven yen, the dollar slipped 0.3 percent to 112.120 after rising as high as 112.285 yen. Some strategists said that once the dust settled from the impact of his comments, the euro could give back some of its gains.
A Costly Retraction for CNN and an Opening for Trump
Other journalists on Tuesday praised CNN for taking responsibility after a painful black eye. Our reputation is everything; that is our currency, and that's why we have processes in place, Mr Zucker said, according to the employee. CNN has not specified what, if anything, in the story was untrue, only saying that the piece did not meet its editorial standards. In the past month, CNN cut ties with the broadcast personalities Kathy Griffin and Reza Aslan after they publicly assailed Mr Trump in vulgar ways.
As Uber Stumbles, Lyft Sees an Opening, and Bites Its Tongue
In March, The New York Times reported on an Uber program that was designed to evade regulators in markets where it operated. As Uber's troubles have multiplied, Lyft has remained largely quiet, preferring to let Uber's actions accentuate the difference between the two companies. Lyft, which is capable of playing hardball despite its friendly image, clearly senses an opening. Even in an industry filled with rivalries, the battle between Uber and Lyft stands out for its ferocity.
'Pharma bro' Martin Shkreli's notoriety slows New York jury selection
US prosecutors have accused Shkreli, dubbed the pharma bro, of running a Ponzi-like scheme at his former hedge fund and a drug company he once ran. The difficulty of finding a jury became apparent on Monday, with potential jurors variously describing Shkreli as evil and a snake. More jurors cited the length of the trial, expected to last up to six weeks, as a hardship.
E.P.A. Moves to Rescind Contested Water Pollution Regulation
The Trump administration on Tuesday took a major legal step toward repealing a bitterly contested Obama-era regulation designed to limit pollution in about 60 percent of the nation's bodies of water. Sign Up You agree to receive occasional updates and special offers for The New York Times's products and services. Issued under the authority of the 1972 Clean Water Act, the rule has been hailed by environmentalists.
Family help oust Japan casino mogul Okada in boardroom coup
That included, the son believed, purchasing pieces for Okada's art museum in Hakone, a resort town near Tokyo. The sources did not provide details of how Okada's family helped oust him as director of Okada Holdings. Okada was also recently dropped from the board of the company running Universal's casino on Manila Bay. Universal announced this month it was probing an alleged misappropriation of $20 million by Okada and another director.
IMF Cuts Its Growth Forecast For U.S. Economy
The International Monetary Fund on Tuesday cut its growth forecasts for the US economy to 2.1 percent for both 2017 and 2018, dropping its assumption that President Donald Trump's tax cut and fiscal spending plans would boost growth. The assumed stimulus from expected tax cuts and new federal spending spurred the IMF earlier this year to bump up its US growth forecasts to 2.3 percent in 2017 and 2.5 percent in 2018.

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