U.S. Tobacco Firms Confirm Merger Talks

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Reynolds American is in talks to buy smaller rival Lorillard, both companies confirmed, in a multibillion-dollar deal that would reshape the U.S. tobacco industry and create a more-powerful No. 2 to industry leader Altria.

Putin Ally Joins Italian Tire Maker's Board

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Pirelli, one of the world's biggest tire makers, said it appointed Rosneft Chairman Igor Sechin to its board.

Amazon Asks FAA for Permission on Drones

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Amazon.com requested permission from the FAA to start testing drones, a key step toward the online retailer's goal of using the devices for deliveries.

SEC Roused by Cynk's $6 Billion Valuation

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The Securities and Exchange Commission is investigating how Cynk Technology Corp., a social network that reports zero assets, no revenue and one employee, soared to a $6 billion valuation, according to people close to the probe.

Investor Group Says Crumbs to Seek Sale in Chapter 11

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Days after abruptly closing its dozens of cupcake stores, Crumbs Bake Shop Inc. filed for Chapter 11 protection Friday evening with plans to sell itself to an investor group.

Chinese Executive Charged in New Hacking Case

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The Justice Department charged the owner of a Chinese aviation-technology company with stealing reams of information from U.S. defense contractors—the latest in an effort to prosecute what American officials say is rampant Chinese industrial espionage.

Improving Training for Helicopter Pilots

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The helicopter industry is experiencing a flight-simulator boom, which is seen improving safety and dramatically enhancing business for companies that provide the training devices.

Alibaba Sets Latest Value at $130 Billion

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Chinese e-commerce company Alibaba Group Holding values itself at $130 billion ahead of its IPO, up from $117 billion in late June, according to a securities filing.

Cadillac Turns to Infiniti for Leader

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GM has hired Johan de Nysschen, currently head of Nissan's Infiniti luxury-car division, as executive vice president in charge of the Cadillac brand.

Salesforce.com Agrees to Acquire RelateIQ

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Salesforce.com Inc. has agreed to acquire competitor RelateIQ Inc., which automatically captures data from email, calendars and smartphone calls, in a deal valued around $390 million.

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