The Japanese telecom titan’s $3.3 bln acquisition of a private-equity firm may be a smart, albeit strange, so-called acqui-hire. Tom Buerkle and Jeffrey Goldfarb consider the merits.
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By Jacob Bunge and Eliot Brown SOUTH SAN FRANCISCO, Calif.—In a renovated warehouse by San Francisco Bay, plastic towers sprouting heads of lettuce, arugula, and herbs rise 20 feet to the ceiling, illuminated by multicolored LED lights that give the room a futuristic feel.A group of tech entrepreneurs and investors including billionaires Jeff Bezos and Eric Schmidt are betting this facility, 100 miles north of California’s “salad bowl” produce-farming epicenter, can redefine how vegetables and fruits are grown for local consumption…
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By Ben Fritz As Silicon Valley giants battle each other to dominate virtual reality in the home, some in Hollywood are hoping to use the technology to get people out and about.A new venture backed by three studios and director Steven Spielberg has raised $11 million as it aims to launch its first VR storefront at a Los Angeles mall this fall with plans for a wider rollout next year…
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World stocks have hit 21-month peaks and the dollar rose for the 11th straight day, after Federal Reserve Chair Janet Yellen flagged a possible interest rate rise next month during upbeat comments on the U.S. economy. Ivor Bennett reports.
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The bosses of General Motors and Peugeot maker PSA were racing on Wednesday to contain anger in Germany and the UK over their plans for PSA to buy GM’s European business, which includes Opel and Vauxhall. Ivor Bennett reports.
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Credit Agricole has exceeded market forecasts despite a $519 million writedown causing a sharp fall in the French bank’s fourth quarter profit. But, as Ciara Lee reports, the bank is the latest in France to report falling retail banking revenues, as lenders grapple with mortgage loan renegotiations and declining fee income…
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