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Nets welcomes $5.3 billion takeover bid by Hellman & Friedman

COPENHAGEN Payments firm Nets on Monday welcomed a 33.1 billion Danish crown ($5.3 billion) bid from U.S. firm Hellman & Friedman, marking what could be one of the largest European private equity takeovers in recent years.

Recent Business News

Top U.S. NAFTA negotiator sees no problem with pace of talks

OTTAWA The top U.S. negotiator at talks to modernize the NAFTA trade pact on Monday dismissed questions about why his team had so far failed to produce specific proposals on key issues, saying "I don't see a problem."

2:42pm EDT

SEC chairman belatedly learned of 2016 agency hack: testimony

WASHINGTON The chairman of the U.S. Securities and Exchange Commission belatedly found out in August, about three months after being confirmed, that hackers breached the regulator's database of corporate announcements in 2016, according to prepared congressional testimony seen by Reuters on Monday.

Tech, Cybersecurity 3:48pm EDT

Tech stocks sell-off deepens fears of shift away from sector

SAN FRANCISCO Technology stocks including Facebook , Microsoft and Alphabet dropped sharply on Monday, increasing worries that the top-performing sector is falling out of favor as investors look elsewhere for cheaper opportunities.

3:46pm EDT

ABB buys GE business for $2.6 billion in bet it can boost margins

ZURICH Power grids maker ABB is buying General Electric's Industrial Solutions business for $2.6 billion in a bet it can improve the division's lackluster margins over the next five years, the Swiss engineering company said on Monday.

6:58am EDT

Target raises minimum hourly wage to $11, pledges $15 by end of 2020

CHICAGO Target Corp said on Monday it would increase its minimum hourly wage this year by a dollar to $11, vowing to raise this by the end of 2020 to $15 an hour -- the so-called "living wage" labor advocates across the United States are campaigning for. | Video

2:08pm EDT

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