Monday headlines include: Intel winning approval to expand a plant in Israel, Blackstone Group quitting Russia, Boeing getting a new order for 737s, Amazon workers in Germany striking again, and Siemens buying Dresser Rand.
Authorities in Israel approved a plan for Intel (INTC) to spend $6 billion upgrading a chip plant in Kiryat Gat. The company will get a $300 million grant over five years from the Israeli government and will also be allowed to pay a 5% tax rate for ten years.
Private equity giant Blackstone Group (BX) is reportedly “giving up on Russia.” The company has looked for deals in the country, but has had trouble finding attractive opportunities, according to a report in the Financial Times. The company has recently declined to renew contracts with consultants in Russia.
Aircraft-maker Boeing (BA) booked a new order for 20 redesigned 737 jets from Africa's largest air carrier. Ethiopian Airlines wants the single-aisle Max 8 model. The order, is worth about $2.1 billion and also has an option for another 15 planes.
Workers at Amazon (AMZN) distribution centers in Germany started a two-day strike Monday, the latest move in a long-running battle over wages. Workers are expected to return to work on Tuesday evening. Amazon has a total of 9,000 workers in the country at nine locations.
Oilfield equipment maker Dresser-Rand (DRC) agreed to be acquired by German conglomerate Siemens for $7.8 billion. Dresser-Rand shareholders will get $83 per share, a $3.09 premium to Friday's closing price. The deal, which was unanimously approved by Dresser-Rand's board, is expected to close by next summer.