In a move that will help it extinguish substantial debt and reduce costs, Dole Foods (NYSE:DOLE) is selling off its global packaged food and Asian fresh produce businesses to Japanese company Itochu for approximately $ 1.7 billion in cash. The company is also looking to restructure its operations commensurate with its continuing businesses.
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A conscious decision by Ford (NYSE:F) to stay out of discounting wars in Europe led to a fall in sales by 29% on an annual basis. The company is probably keeping its powder dry for the fourth quarter when new models could help rack up better sales.
According to Norway’s Petroleum and Safety Authority, a substantial oil leak occurred on September 12 at the BP (NYSE:BP) operated Ula oil field in the North Sea, that it is investigating. Apparently, production has still not resumed after the leak.
Cost pressures have forced Lufthansa (DLAKY.PK) to hike prices on long-haul routes such as economy and first-class flights bound for the US, though flights for Japanese destinations have been apparently spared.
Lenovo (LNVGY.PK), which ranks as number two PC maker globally, has agreed to acquire software company Stoneware as it “wants to boost its cloud offerings through the Stoneware acquisition to help customers and users remotely access data or control multiple devices through one terminal,” according to ZDNet. In other words, the the acquisition would help Lenovo users to synchronise their data across multiple mobile devices.
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