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U.S. markets recover from steep losses
MOSCOW, April 13 (UPI) -- Russian discount retailer Pyaterochka is buying rival Perekryostok to form the country's biggest supermarket chain by sales.
The new entity, which will have yearly sales of about $2.24 billion from 880 stores, will be under the control of Alfa Group, a Russian conglomerate run by an influential tycoon Mikhail Fridman, the Financial Times reported Thursday.
St. Petersburg's Pyaterochka is paying $300 million in cash plus 15.8 million shares for Perekryostok. Alfa will then buy 54 percent of the combined entity for $1.18 billion in cash.
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WASHINGTON, May 23 (UPI) --
The planned Keystone XL oil pipeline would move oil away from refineries that produce gasoline, increasing prices, the National Resource Defense Council says.
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MELBOURNE, Fla., May 23 (UPI) --
Northrop Grumman says its Military Airworthiness Certification is closer for its re-engined EC-8 Joint Surveillance Target Attack Radar System aircraft.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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