PRESS DIGEST- Financial Times - Dec 16
Dec 16 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
Headlines
BLOW TO HALLIBURTON-BAKER HUGHES DEAL
QUALCOMM DEFIES PRESSURE TO BREAK UP
ROLLS CEO SEEKS TO CREATE LEANER GROUP
TESLA IN STAND-OFF OVER LITHIUM SUPPLY
Overview
Halliburton Co and Baker Hughes Inc said the U.S. Deaprtment of Justice was not satisfied with the concessions they offered to win approval for their proposed merger and would have to delay for the second time their $26 billion union.
Qualcomm Inc has decided not to split into separate chipmaking and technology licensing businesses, saying that its current structure is the best way to run the business. The decision marks a conclusion to a six-month strategic review instigated by hedge fund Jana Partners.
The chief executive of Rolls-Royce Holdings has decided to scrap the aerospace and land and sea divisions as part of a major overhaul. The revamp would also lead to the departure of Tony Wood, a longtime Rolls Royce veteran and head of its aerospace division.
Tesla Motors is building a mile-(km)-long factory near the Nevada desert, which will build batteries for its electric cars. However, the carmaker has not announced the supplier for lithium, the material used in batteries, leaving unclear the source of the lightweight natural material that it needs to begin production by 2017.
(Compiled by Ankush Sharma in Bengaluru; Editing by Ken Wills)