Wal-Mart to pay $1 bln for China retailer
HONG KONG/NEW YORK, Feb 27 (Reuters) Wal-Mart Stores Inc., the world's biggest retailer, will pay about $1 billion to take over a Chinese chain, challenging Carrefour as the largest operator of super-centres in booming China.
The acquisition of Bounteous Co. Ltd. by Bentonville, Arkansas-based Wal-Mart, will be done in phases by 2010 and could trigger much-needed consolidation in China's ferociously competitive $1 trillion retail market.
Under terms of the deal, Wal-Mart is buying 35 percent of Taiwan-based Bounteous, which operates 101.....
Qantas says chooses GE engines for B787 fleet
SYDNEY, Feb 27 (Reuters) Australia's Qantas Airways Ltd.
said on Tuesday it has selected General Electric's GEnx engine for its fleet of up to 115 Boeing 787 aircraft.
Qantas said it had made an initial order for 45 aircraft ship sets, valued at A$2 billion ($1.6 billion) in capital and maintenance costs over the life of the engines.
The airline had been evaluating engines for the B787 from GE and Britain's Rolls Royce Group Plc .
Qantas Chief.....