Exclusive: SPX closes in on $4.2 billion Gardner Denver deal - source

NEW YORK (Reuters) - Industrial machinery maker SPX Corp is closing in on a roughly $4.2 billion deal to buy rival Gardner Denver Inc, as it makes progress in securing financing, a source familiar with the matter said on Tuesday. A deal could value Wayne, Pennsylvania-based Gardner Denver at about $85 per share, the source said. Gardner Denver's shares closed at $73.68 on Tuesday. SPX has a market...

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Shares, euro rise on hopes of U.S. "cliff" deal, BOJ easing

SINGAPORE (Reuters) - Asian shares rose and the euro hit multi-month highs on Wednesday as signs of progress in resolving the U.S. "fiscal cliff" budget crisis and expectations of more aggressive monetary stimulus from the Bank of Japan lifted riskier assets. The gains in Asia came after Wall Street's S&P 500 <.spx> rose more than 1 percent, completing its best two-day run in a month, on...

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Republicans put squeeze on Obama in "fiscal cliff" talks

WASHINGTON (Reuters) - Frustrated by their inability to wring more "fiscal cliff" concessions out of President Barack Obama, Republicans in the U.S. House of Representatives announced Tuesday night that they expect to pass their own tax bill as a backup plan to avert the tax hikes and automatic budget cuts set to occur in January. No one expects the bill, which would extend low tax rates except...

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Ford says recalls have not hurt auto sales

DETROIT (Reuters) - Ford Motor Co is not experiencing a hit to its auto sales as a result of a recent spate of safety recalls, Chief Operating Officer Mark Fields said. "I think overall our sales are doing well," Fields told reporters on Tuesday, adding that consumers have a good perception of the quality of Ford products. "But we also understand that's a very precious thing and we're working very...

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China's CNOOC lauds Canadian approval of Nexen buy

BEIJING (AP) -- China's state-owned CNOOC said on Saturday that it is delighted that the Canadian Ministry of Industry has approved its $15.1 billion proposed takeover of Canadian oil and gas producer Nexen. Once finalized, it will be China's largest overseas energy acquisition, coming at a time when other Chinese companies such as telecommunications giant Huawei are encountering difficulties in...

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CNOOC pledge small step for China transparency, skeptics abound

SINGAPORE/HONG KONG (Reuters) - CNOOC's promise of transparency, pledged to win approval from Canada for its $15.1 billion purchase of Nexen Inc, looks like a positive step on the face of it but is unlikely to represent a sea change in Chinese business practices. To be sure, the details of commitment are not clear. The state-controlled energy firm has promised the Canadian government an annual compliance...

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Huawei duplicará personal en Europa

HELSINKI (Reuters) - El proveedor de equipos de telecomunicaciones chino Huawei Technologies planea duplicar su plantilla de empleados en Europa durante los próximos años e instalará un centro de investigación en Finlandia destinado a desarrollar nuevos teléfonos avanzados. Los planes de expansión para Europa se dieron a conocer dos meses después de que legisladores estadounidenses señalaron que...

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