Wal-Mart Looks Online for Chinese Growth

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As Alibaba courts investors for a highly anticipated IPO next month in the U.S., Wal-Mart is busy trying to win over online shoppers in the Chinese e-commerce company's backyard.

Saab Auto Owner Goes Bust

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A Swedish court Thursday denied bankruptcy protection for the Chinese-backed company which owns Sweden's Saab automobile brand, saying its financial plan was inadequate.

Luxury Shoe Firm Ferragamo Profit Declines

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Italian shoe firm Salvatore Ferragamo said its first-half net profit was down 6% compared with the year-earlier period, but revenue rose on gains in all regions.

Google Reveals Delivery Drone Project

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Google's advanced-research lab said it is developing a system of drones to deliver goods. Rival Amazon.com is also testing delivery drones, and Domino's tested delivering pies via drone in 2013.

Tyson Completes Tender for Hillshire

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Tyson Foods has completed its tender offer for Hillshire Brands, paving way for the completion of the meat industry's biggest-ever deal later Thursday, the companies said.

Vivendi Favors Telefónica for GVT

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Vivendi said it had entered exclusive talks with Telefonica to sell its Brazilian unit GVT, after the Spanish telecom giant bested a rival proposal from Telecom Italia.

Qantas Carves Out Long-Haul Unit

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Qantas Airways laid the groundwork for a deep-pocketed foreign investor to take a stake in its international business after booking a record loss.

Virgin Australia Posts Deep Loss

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Virgin Australia sold a stake in its frequent-flier business to U.S. private-equity firm Affinity Equity Parners after the airline posted a deep annual loss.

Big Seed Makers Unlikely to Cut Prices

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Major seed companies don't plan to cut prices for the next growing season, despite sliding corn and soybean prices that are expected to dent U.S. farmers' incomes.

Pernod Ricard Confirms Jobs Cuts

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Pernod Ricard confirmed it will cut around 900 jobs globally, having posted a drop in full-year profits as it continues to fight a sharp decline in sales in China.

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