The Traderszone Network

BERLIN/FRANKFURT (Reuters) – German airline Lufthansa (LHAG.DE) is close to a deal to sell its IT infrastructure unit to IBM (IBM.N), including an outsourcing agreement for the services, as part of a shake-up of its technology activities, it said on Wednesday. Under the planned deal, Lufthansa will outsource all of its IT infrastructure services to IBM under a seven-year deal and the U.S.

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German airline Lufthansa (LHAG.DE) said on Wednesday it was close to selling its IT infrastructure division and completing an outsourcing deal with IBM (IBM.N), which will result in a 240 million euro ($305.57 million) pre-tax charge in 2014. “This impact will not be recognised in the operating result, which is relevant for the financial guidance, but in the IFRS net result of the Lufthansa Group,” the airline said in a statement. The deal, which is expected to close at the end of the first quarter of next year, will yield an average of 70 million euros in annual savings, the airline said.

Michigan Governor Rick Snyder signed a bill on Tuesday that will keep electric carmaker Tesla Motors Inc (TSLA.O) from selling its cars directly to consumers in the state, home to the biggest U.S. Snyder said in a letter to members of the state House of Representatives on Tuesday that the measure merely “clarifies” existing law not to allow direct manufacturer-to-consumer retail sales. Michigan becomes the fifth U.S. In all of those states except Michigan, Tesla operates “galleries” where consumers can view Tesla cars but cannot discuss prices, take test drives or order cars.

Michigan Governor Rick Snyder signed a bill on Tuesday that will keep electric carmaker Tesla Motors Inc (TSLA.O) from selling its cars directly to consumers in the state, home to the biggest U.S. Snyder said in a letter to members of the state House of Representatives on Tuesday that the measure merely “clarifies” existing law not to allow direct manufacturer-to-consumer retail sales. Michigan becomes the fifth U.S. In all of those states except Michigan, Tesla operates “galleries” where consumers can view Tesla cars but cannot discuss prices, take test drives or order cars.

Airbus Helicopters, the world’s largest civil helicopter maker, expects China and Hong Kong to become its biggest global market within six years as Beijing starts to lift restrictions on the use of low altitude airspace from 2015. The Airbus Group NV’s (AIR.PA) helicopter division expects to increase its annual sales in China to 150 units by 2020 from around 30-40 helicopters now, its China president Norbert Ducrot told Reuters. “The China market is very small with a big potential,” Ducrot said in an interview in Beijing.

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Airbus Helicopters, the world’s largest civil helicopter maker, expects China and Hong Kong to become its biggest global market within six years as Beijing starts to lift restrictions on the use of low altitude airspace from 2015. The Airbus Group NV’s (AIR.PA) helicopter division expects to increase its annual sales in China to 150 units by 2020 from around 30-40 helicopters now, its China president Norbert Ducrot told Reuters. “The China market is very small with a big potential,” Ducrot said in an interview in Beijing.

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Europe’s banks will find out whether they have passed their health checks this Sunday. Here’s a CNBC guide on Europe’s latest bank stress tests.