Barrick Gold drops takeover bid for Newmont Mining
ELKO, Nev. (AP) — Barrick Gold is dropping its takeover bid for Newmont Mining, as the gold companies instead form a joint venture to combine their Nevada mining operations.
Embraer shareholders approve jet joint venture with Boeing
CHICAGO (AP) — Shareholders of Brazilian aircraft maker Embraer have overwhelmingly approved spinning off the company's commercial-airplane unit into a joint venture dominated by Boeing...
Toyota, Panasonic announce venture for green auto batteries
TOKYO (AP) — Toyota Motor Corp. and Panasonic Corp. are setting up a joint venture to research, manufacture and sell batteries for ecological autos, an increasingly lucrative sector amid concerns about global warming.
The Japanese automaker and the Japanese electronics maker said in a joint statement Tuesday that Toyota will take a 51 percent stake and Panasonic 49 percent in the joint venture, which is to be running by the end of 2020.
Louisiana inks partnership with Israeli-based tech company
BATON ROUGE, La. (AP) — The governor of Louisiana has announced that LSU's applied research center is entering a partnership with an Israel-based international network security vendor to pursue cybersecurity endeavors together.
Boeing buying stake in Embraer operations for $4.2B
CHICAGO (AP) — Boeing is buying a majority stake in Embraer's commercial aircraft and services operations for $4.2 billion.
The joint venture, announced Monday, gives Boeing 80 percent ownership of those operations, with Embraer owning the remaining stake.
Boeing will have operational and management control of the company. Embraer will keep consent rights for some decisions, such as the transfer of operations from Brazil.
New joint venture formed to convert pig poop to power
RICHMOND, Va. (AP) — The world's largest pork company is teaming up with a major energy company to turn pig manure into renewable natural gas.
Smithfield Foods and Dominion Energy announced a joint venture partnership Tuesday to trap methane from hog waste and convert it into power for heating homes and generating electricity.
Commission OKs license for new racetrack
LOUISVVILLE, Ky. (AP) — The Kentucky Horse Racing Commission has approved a joint venture between Churchill Downs and Keeneland at a proposed $150 million racetrack and betting parlor near the Kentucky and Tennessee line.
$40M mental health hospital planned for suburban Detroit
DEARBORN, Mich. (AP) — Beaumont Health and Universal Health Services are planning a new $40 million mental health hospital in suburban Detroit that's designed to improve care in Michigan.
Minnesota regulators back gas-fired power plant in Wisconsin
DULUTH, Minn. (AP) — Minnesota regulators have approved a proposal for a natural gas-fired power plant in Superior, Wisconsin, despite objections from customers and clean-energy groups.
The Public Utilities Commission voted 3-2 Monday to approve Minnesota Power's participation in the joint venture with Dairyland Power Cooperative. Wisconsin regulators must also approve the plan.
Edwards: New plans for former Avondale Shipyard site
AVONDALE, La. (AP) — Four years after it was shuttered for good, Avondale Shipyards is getting a new lease on life.
Toyota, SoftBank setting up mobility services joint venture
TOKYO (AP) — Japan's No. 1 automaker Toyota Motor and technology giant SoftBank Group are setting up a joint venture to create mobility services in what they called a "united Japan" effort to face global competition.
The 2 billion yen ($20 million) venture, Monet Technologies Corp. is meant to be running by the end of March.
Germany’s 2 main department store chains set to merge
BERLIN (AP) — Germany's two main department store chains are set to merge in a deal under which Canada-based Hudson's Bay Co. will form a joint venture with Austria's Signa.
The deal announced Tuesday will bring together Karstadt, owned by Signa, and Kaufhof, owned by HBC. It also includes HBC Europe's other retail holdings, among them Belgium's Galeria Inno and the Netherlands' Hudson Bay.
New Philadelphia facility to turn food waste into gas
PHILADELPHIA (AP) — A Philadelphia refinery has announced it is building a new facility to turn food waste into methane gas.
DUBAI, United Arab Emirates (AP) — Oil giant Saudi Aramco says it will buy out the other 50-percent stake in a joint chemical venture in the Netherlands in a deal valued at 1.5 billion euros, or $1.7 billion.
Aramco made the announcement on Wednesday, saying it would purchase the entire interest in Arlanxeo, a joint venture it set up in 2016 with Lanxess AG.
Lanxess is a chemical company based in Cologne, Germany.
ATLANTIC CITY, N.J. (AP) — The Latest on the sports betting market in the United States. (all times Eastern):
Las Vegas-based MGM Resorts International has reached two key agreements with other gambling companies as the race for the newly created U.S. sports betting market heats up.
MGM announced Monday a joint venture with the United Kingdom-based owner of Ladbrokes, GVC Holdings, and a separate deal with U.S.-based regional casino operator Boyd Gaming Corp.
Saudi Arabia signs deal for 5 Spanish-built warships
RIYADH, Saudi Arabia (AP) — Saudi Arabian Military Industries says it has signed a deal with Spanish state-owned shipbuilder Navantia to establish a joint venture to supply five warships.
The announcement Thursday formalizes a plan reached in April when the crown prince of Saudi Arabia, Mohammed bin Salman, visited Spain and met with then-Prime Minister Mariano Rajoy and Defense Minister Maria Dolores de Cospedal. At that time the agreement was valued at 2 billion euros ($2.3 billion).
TOKYO (AP) — Chinese mobile service giant Didi Chuxing and Tokyo-based SoftBank Corp. have set up a joint venture for taxi-hailing in Japan.
The companies announced the plan Thursday for a service that will use artificial intelligence and data analysis on a technology platform available for free to all taxi companies in Japan.
The service will roll out later this year, starting with a free trial run in Osaka, and expanding to Kyoto, Fukuoka, Okinawa and Tokyo, they said.
Boeing and Embraer attempt a joint venture
Boeing and Brazilian jet maker Embraer have agreed to form a joint venture that would push the U.S. aerospace giant into the market for smaller passenger planes.
The new company is being valued at $4.75 billion. Boeing Co. said Thursday that it will own 80 percent while Embraer SA takes the remaining 20 percent.
The venture will be controlled by Boeing — managers in Brazil will report to Boeing CEO Dennis Muilenburg.
BERLIN (AP) — Germany's Thyssenkrupp and India's Tata Steel say they've signed a deal to merge European steel operations into a new firm.
Under the agreement signed Saturday, each company will hold a 50 percent stake in the Netherlands-based joint venture called Thyssenkrupp Tata Steel B.V.
CHICAGO (AP) — Chicago Cubs owner Tom Ricketts, who help turn team of loveable losers into a World Series champion, has agreed to become a majority owner of a franchise in the second-tier United Soccer League that intends to play in a new stadium a developer plans to build not too far from Wrigley Field.
Sterling Bay, a real estate development company, said Wednesday it will form a joint venture with Ricketts that will own the team. No date was announced for the team to start play.
Well, that was fast.
Iowa and Nebraska Younkers, Herberger’s on closure list
OMAHA, Neb. (AP) — Court filings show that all the Younkers and Herberger's stores in Nebraska and Iowa will be closed as part of their corporate owner's sale to liquidators.
On Wednesday a judge approved the sale of Bon-Ton Stores Inc. to a joint venture of two liquidation firms and a group of company bondholders. Court records show the liquidation sales must be completed by Aug. 31.
Allegheny Technologies Inc. hopes that its joint venture with a Chinese firm can be exempted from 25 percent steel tariffs that President Trump recently announced.
GENEVA (AP) — Swiss pharmaceutical firm Novartis is selling its stake in a consumer health care joint venture with GlaxoSmithKline to the British company for $13 billion.
The joint venture was formed in 2015 and Novartis holds a 36.5-percent stake. Novartis CEO Vas Narasimhan said in a statement Tuesday that it "is progressing well," but "the time is right for Novartis to divest a non-core asset at an attractive price."
HOBBS, N.M. (AP) — A Dallas company and a France-based multinational corporation are forming a joint venture to license an interim storage site in West Texas for high-level nuclear waste.
Orano USA and Waste Control Specialists announced on Tuesday their intent to form the joint venture as a competing group tries to promote its proposal for southeastern New Mexico, the Hobbs News-Sun reports .
Plans announced for wind project in western Oklahoma
WOODWARD, Okla. (AP) — Plans are underway for another major wind project in northwest Oklahoma.
Quinbrook Infrastructure Partners announced Tuesday that it's entered a joint venture with Elawan Wind to build a wind farm known as the Persimmon project. The Oklahoman reports that the project will involve 80 turbines spread across parts of Woodward, Dewey and Ellis counties.
- Business WireChurchill Mortgage Announces Joint Venture with American Home Title to Create Churchill Title SolutionsMarch 20, 2019
- Business WireCohesity and SoftBank Announce Joint Venture to Empower Japanese Enterprises to Back Up, Store, Manage and Derive Insights from Their DataMarch 20, 2019
- Globe NewswireLegends Business Group, Inc. Announces a Joint Venture With Algaetech International and no Material DilutionMarch 19, 2019
- Globe NewswireBlink Charging and the EUNICE ENERGY GROUP establish a Joint Venture to target European Electric Vehicle (EV) Charging MarketMarch 19, 2019
Partners to buy SC wood pellet plant, build Mississippi port
BETHESDA, Md. (AP) — A company that makes wood pellets and sells them to power plants overseas says it's forming a new joint venture with an insurance company to buy a plant in South Carolina and build a port in Mississippi.
Enviva Holdings of Bethesda, Maryland, on Tuesday announced the deal with the John Hancock Life Insurance Co.
The Pittston Area Leo Club and Wyoming Valley Chiropractic Center, Wyoming Avenue, Forty Fort, have announced a joint venture to collect gently used eyeglasses during November and December for the club. Throughout the year, Lions and Leo Clubs collect used eyeglasses and deliver them to regional...
Delta says US approves joint venture with Korean Air
ATLANTA (AP) — Delta Air Lines says U.S. regulators have given the green light to a joint venture with Korean Air, and the carriers are waiting for approval from the South Korean government.
Delta said Friday that the U.S. Department of Transportation approved the arrangement. It still needs approval from South Korea's transport ministry.
With antitrust immunity, the airlines can share costs and revenues from flights.
Council reopens bidding process for telecom utility
BURLINGTON, Vt. (AP) — Burlington officials have formed a committee to determine how to vote on a buyer for the city's Burlington Telecom utility following a failed joint venture proposal.
Israel Aerospace Industries, Hankuk Carbon, to make drones
JERUSALEM (AP) — Israel Aerospace Industries says it has formed a joint venture with Korean company Hankuk Carbon to make unmanned aircraft together.
It says the new company, called Korea Aviation Technologies, will develop drones with vertical takeoff and landing capabilities. Its products will be aimed at both the military and civilian markets in South Korea.
European steel merger could see 4,000 jobs axed
BERLIN (AP) — Germany's Thyssenkrupp and Tata Steel of India signed a preliminary deal on Wednesday to merge their European steel operations, a combination that could lead to up to 4,000 job cuts.
The move to create Europe's second-largest steel company is an effort to consolidate the industry, which has long struggled with excess capacity and competition, particularly from China.
Ford, Chinese partner look at possible electric car venture
BEIJING (AP) — Ford Motor Co. and a Chinese automaker said Tuesday they are looking into setting up a joint venture to develop and manufacture electric cars in China.
Ford's potential venture with Anhui Zotye Automobile Co. adds to the global auto industry's rising activity in electric vehicles for China, which passed the United States last year as the biggest market for them.
BERLIN (AP) — Abu Dhabi-based Etihad and tour operator TUI Group have terminated negotiations on setting up a vacation airline joint venture that would have combined the latter's TUIfly with a subsidiary of Germany's struggling Air Berlin.
TUI board member Sebastian Ebel said in a statement Thursday that "a strong European leisure airline continues to make great strategic sense" but that Air Berlin's Niki subsidiary "is no longer available for a joint venture."
BRUNSWICK, Maine (AP) — An aircraft manufacturer that intends to build two-seat, amphibious planes designed in Finland for the North American market is poised to become the first company to build planes at the former Brunswick Naval Air Station, officials said Tuesday.
Finnish company Atol Avion announced at airshows in Florida and Germany the joint venture with a U.S.-based investor group to produce the planes at Brunswick Landing.
GM, Honda team up to develop advanced hydrogen fuel cells
DETROIT (AP) — General Motors Co. and Honda Motor Co. took a big step toward putting out vehicles powered by hydrogen fuel cells by forming a joint venture to produce the systems for both companies' vehicles.
The automakers expect to begin production in 2020 at a GM battery-pack facility south of Detroit, creating about 100 new jobs. They'll also work together on setting up fueling stations to make the cars marketable.
Saudi oil firm Aramco inks joint ventures with Nabors, Rowan
RIYADH, Saudi Arabia (AP) — Saudi Arabia's state oil company is setting up joint ventures with two international drilling companies as part of an effort to boost economic development in the kingdom.
Saudi Aramco says the deals signed on Wednesday with Nabors Industries and Rowan Companies will focus on onshore and offshore drilling.
The joint ventures will include Nabors' existing Saudi onshore and Rowan's existing offshore operations.
Top German carmakers, Ford set up Europe recharging network
BERLIN (AP) — Top German automakers and Ford are setting up a joint venture to create a fast recharging network in Europe for electric cars.
BMW, Daimler, Ford and the Volkswagen Group with its Audi and Porsche brands said Tuesday that they've signed a memorandum of understanding that foresees the network being built up starting next year. Their "initial target" is to have 400 charging sites in Europe and the goal is to have thousands in place by 2020.
La PORTE — In response to residents’ concerns about lack of transparency from the new for-profit parent of La Porte Hospital, the La Porte County Board of Commissioners unanimously passed a resolution calling for Community Health Systems Inc. to publicize the terms of its joint venture agreement with IU Health and La Porte Hospital.
Japan lines MOL, NYK, K Line to join shipping, terminal ops
TOKYO (AP) — Three major Japanese container shipping lines said Monday they plan to merge their shipping and overseas terminal operations as the industry struggles with overcapacity and mounting losses.
Mitsui O.S.K. Lines, Nippon Yusen K.K. and Kawasaki Kisen Kaisha, or K Line, said in a statement that they are forming a joint venture to unite their shipping operations. They also are merging terminal management businesses outside Japan.
UPMC partners to expand cancer care network in Ireland
PITTSBURGH (AP) — The University of Pittsburgh Medical Center is expanding its cancer care network in Ireland by entering a partnership on a new radiation therapy center in the country.
UPMC announced its collaboration with Bon Secours Health System on a joint venture to expand the Maryland-based nonprofit's campus in Cork, Ireland.
DANBURY — Praxair Surface Technologies and GE Aviation have announced the formation of PG Technologies, a joint venture that will focus on coatings for GE Aviation’s engine models and be based in Ellisville, Miss.
Ardent Health Services (“Ardent” or “the Company”) and LHP Hospital Group, Inc. (“LHP”) today announced they have entered into a definitive merger agreement under which the two companies will merge their operations.
PSA group reaches deal to make 200,000 cars a year in Iran
TEHRAN, Iran (AP) — French carmaker PSA Peugeot Citroen has reached a deal with Iran's biggest carmaker to open a plant producing 200,000 vehicles a year, renewing an old partnership with Iran Khodro Co following the lifting of international sanctions.
The two companies showcased five models on Wednesday to be produced by IKAP, a joint venture first announced in January during a visit to France by Iranian President Hassan Rouhani.