Afternoon Coffee: Foxconn Wants to Increase Financing Arm, Norfolk Rejects Canadian Pacific’s Bid


Foxconn Technology Group, Apple’s largest contract electronics manufacturer and the maker of iPhones, is looking to ramp up its offerings of loans and other financing to other electronics component suppliers. The Taiwanese company has reportedly provided financing to more than 100 component suppliers already.

Norfolk Southern Railway rejected the $28.4 billion buyout offer from Canadian Pacific Railway Ltd. Norfolk called the offer a “low-premium.”

Britain aims to stop operations at all coal-fired power plants in the country by 2023 and officially close the plants by 2025. The announcement comes just over a week before the global climate talks kick off in Paris.

Retailers are increasingly expanding e-commerce supply chains as online sales grow. Home Depot reported a 5.1% increase in online sales in the third quarter and Target said digital sales grew 20% in the same three-month period.

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