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...

In an attempt to regain control of his sprawling business empire, a law suit has been filed by Japanese casino and slot machine tycoon Kazuo Okada against his son, daughter and wife in Hong Kong as shown by a court filing and Okada.   After they took control of the board of a Hong Kong...

Samsung Electronics announced its intention to invest more than 21.4 trillion won ($ 18.6 billion) in the development and expansion of its production facilities in South Korea by 2021. The company explained the desire to expand the production line by the overall growth in the world market demand...

Dropbox cloud storage service began to prepare for the placement of securities for the first public offering of shares (IPO) at the end of this year, reports Reuters referring to its own sources. During the IPO, the company can become the largest American public technology company, ahead of...