Amazon clinches deal to buy Middle East online retailer Souq.com
DUBAI Amazon.com has agreed to buy Middle East online retailer Souq.com, thwarting a last-minute bid by Dubai billionaire Mohamed Alabbar's Emaar Malls .
Contract manufacturer Flextronics International Ltd (FLEX.O) said it agreed to take over Motorola Mobility's manufacturing operations in Tianjin, China and Jaguariuna, Brazil.
Singapore-based Flextronics said it will acquire the operations in Tianjin and assume management of the Jaguariuna facility.
The deal with Motorola, owned by Google (GOOG.O), also includes manufacturing and service for Android mobile devices, Flextronics said in a press release.
A Google spokeswoman said the agreement encompassed the bulk of Motorola's manufacturing capacity, but declined to provide further comment on the terms of the transaction.
Faced with slow demand and macroeconomic uncertainty, Flextronics has cut its exposure to the PC industry to concentrate on more profitable businesses like industrial, automotive and communications.
In August, Nokia Siemens Networks said it would open an assembly line in Brazil with Flextronics to build mobile phone network equipment.
(Reporting By Noel Randewich and Alexei Oreskovic; Editing by Phil Berlowitz)
HONG KONG Acquisitive Chinese conglomerate HNA Group is in talks to buy a controlling stake in the owner of the publisher of Forbes magazine, two sources with knowledge of the matter told Reuters.