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May 11: Wipro buys Brazil firm

  • May 11: Wipro buys Brazil firm

    May 11: Wipro buys Brazil firm

  • <p>A page from the Skype website is seen in Lausanne</p><p><b>Microsoft Corp&#39;s move to buy money-losing Internet phone service Skype for $8.5 bn was immediately skewered by critics and investors, who questioned the logic of the deal and suggested the software giant is paying far too much.</b></p><p>The price is about double the expected value of Skype if it had gone ahead with its planned initial public offering, leaving investors puzzled over how Microsoft will make the deal pay for itself.</p><p>Shares of the world&#39;s largest software company fell 1.4%, anchored at the same level they have been for 10 years.</p>

    A page from the Skype website is seen in Lausanne

    Microsoft Corp's move to buy money-losing Internet phone service Skype for $8.5 bn was immediately skewered by critics and investors, who questioned the logic of the deal and suggested the software giant is paying far too much.

    The price is about double the expected value of Skype if it had gone ahead with its planned initial public offering, leaving investors puzzled over how Microsoft will make the deal pay for itself.

    Shares of the world's largest software company fell 1.4%, anchored at the same level they have been for 10 years.

  • <p>A general view shows the smelting furnaces of ArcelorMittal steel manufacturer plant in the eastern German town of Eisenhuettenstadt</p><p><b>ArcelorMittal, the world&#39;s largest steelmaker, forecast strong prices and shipments that would propel earnings to a post-crisis high in the second quarter following a sharp rebound at the start of the year.</b></p><p>The group, which makes 6-7% of global steel, reported first-quarter earnings above expectations, after steel prices caught up with a spike in iron ore and coking coal costs and demand steadily grew from the auto and engineering sectors.</p><p>The Luxembourg-based company said core profit should be between $3 bn and $3.5 bn in the second quarter, the highest level since third quarter of 2008, just before the global steel sector went into freefall.</p>

    A general view shows the smelting furnaces of ArcelorMittal steel manufacturer plant in the eastern German town of Eisenhuettenstadt

    ArcelorMittal, the world's largest steelmaker, forecast strong prices and shipments that would propel earnings to a post-crisis high in the second quarter following a sharp rebound at the start of the year.

    The group, which makes 6-7% of global steel, reported first-quarter earnings above expectations, after steel prices caught up with a spike in iron ore and coking coal costs and demand steadily grew from the auto and engineering sectors.

    The Luxembourg-based company said core profit should be between $3 bn and $3.5 bn in the second quarter, the highest level since third quarter of 2008, just before the global steel sector went into freefall.

  • <p>The interior of a Volkswagen microbus concept car is seen at the New York International Auto Show in New York City</p><p><b>Top European automaker Volkswagen AG said that it would build electric cars in China with FAW Group, becoming the first foreign automaker to announce concrete plans to make electric cars in the country under a home-grown brand.</b></p><p>The electric vehicle (EV) under the new brand Kaili would be built by FAW Volkswagen, and China&#39;s Ministry of Industry and Information Technology certified the vehicle on May 3, Volkswagen said in an email to Reuters on Wednesday.</p>

    The interior of a Volkswagen microbus concept car is seen at the New York International Auto Show in New York City

    Top European automaker Volkswagen AG said that it would build electric cars in China with FAW Group, becoming the first foreign automaker to announce concrete plans to make electric cars in the country under a home-grown brand.

    The electric vehicle (EV) under the new brand Kaili would be built by FAW Volkswagen, and China's Ministry of Industry and Information Technology certified the vehicle on May 3, Volkswagen said in an email to Reuters on Wednesday.

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