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Chinese court sentences former Sinopec president to 15 and half years in prison

BEIJING (Reuters) – A Chinese court has jailed Wang Tianpu, the former president of Sinopec Group, for 15 and a half years for graft, state television said on Tuesday citing a court verdict. Sinopec Group is the parent of oil major Sinopec Corp . (Reporting by

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Chinese court sentences former Sinopec president to 15 and half years in prison

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Ford launches brand to sell auto parts to fix competitors’ vehicles

Ford Motor Co , in a bid for a piece of the rapidly growing global auto parts market, is launching a new brand called Omnicraft to sell parts to Ford dealers and independent repair shops to fix competitors' vehicles. Omnicraft joins Ford's established Motorcraft which makes parts for Ford vehicles. Frederiek Toney, president of Ford's customer service division, said the global business for automotive

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Ford launches brand to sell auto parts to fix competitors’ vehicles

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Samsung Electronics warns of political risks as chips boost Q4 profit

Samsung Electronics Co Ltd on Tuesday said it expects profit growth in 2017 despite challenges arising from political uncertainty, after record chip earnings glossed over the Note 7 smartphone fiasco in the fourth quarter. The South Korean tech giant and Apple Inc rival …

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Samsung Electronics warns of political risks as chips boost Q4 profit

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As U.S. shale sinks, pipeline fight sends woes downstream

By Tom Hals WILMINGTON, Del. (Reuters) – Within weeks, two low-profile legal disputes may determine whether an unprecedented wave of bankruptcies expected to hit U.S. oil and gas producers this year will imperil the $500 billion pipeline sector as well. In the two court fights, U.S. energy producers are trying to use Chapter 11 bankruptcy protection to shed long-term contracts with the pipeline operators that gather and process shale gas before it is delivered to consumer markets. The attempts to shed the contracts by Sabine …

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As U.S. shale sinks, pipeline fight sends woes downstream

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Western Digital investor Alken pushes to cancel SanDisk deal

Western Digital agreed to buy SanDisk in a $19 billion deal in October to help increase its ability to make flash memory storage chips used in smartphones and tablets. The London-based investment manager, Alken Asset, said weakness in the storage chip market has hurt Sandisk's stock price which in turn will hurt Western Digital if the deal goes through. “The price being paid for SanDisk is excessive in light of the changing landscape for SanDisk's products and capital markets…

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Western Digital investor Alken pushes to cancel SanDisk deal