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Vivendi to book 4.2 billion euro pre-tax gain on GVT sale

PARIS - French media group Vivendi said on Friday it would book a 4.2 billion euro ($4.6 billion) pre-tax gain from the sale of Brazilian telecommunications company GVT, which would help it pay interim dividends.

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Creator of Silk Road website faces sentencing for drug scheme

NEW YORK - The accused mastermind behind the underground website Silk Road will be sentenced on Friday for orchestrating a scheme that enabled more than $200 million of anonymous online drug sales using the digital currency bitcoin.

U.S., 1:23am EDT

Avago to buy Broadcom for $37 billion in biggest-ever chip deal

- Avago Technologies Ltd agreed on Thursday to buy Broadcom Corp for $37 billion in the largest merger of chipmakers ever, turning a lesser known company run by a ferocious dealmaker into one of the biggest industry players. | Video

Deals, 28 May 2015

Alibaba courts more China bad debt managers for online auctions

HANGZHOU, China/BEIJING - Huarong Asset Management Co Ltd is poised to become the second Chinese bad loan firm to auction soured loans online amid a push by the government to settle these debts as the economy slows, an executive at e-commerce giant Alibaba Group Holding Ltd said.

5:42am EDT

Toshiba says accounting probe to take until mid-July

TOKYO - Toshiba Corp will file its annual report up to two months later than usual as an ongoing independent investigation into accounting irregularities will likely last until mid-July, the Japanese conglomerate said on Friday.

Sany says diversifying into smartphones, as machinery demand slips

BEIJING - Chinese construction machinery maker Sany Group, which has been impacted by a sustained market slowdown, said it is venturing into smartphones, as part of a plan to diversify away from heavy machinery.

5:09am EDT