GLOBALFOUNDRIES TO TAKE OVER IBM CHIP UNIT

International Business Machines has reached an agreement for Globalfoundries to take over IBM's semiconductor operations, people familiar with the matter said.

METRO 4TH QUARTER SALES DOWN 2.6%

Metro on Monday reported a 2.6% decline in fourth-quarter sales after a strong euro and asset disposals derailed growth, though the German retailer said it would meet targets for the year.

PHILIPS SWINGS TO LOSS

Royal Philips said Monday it swung to a net loss for the third quarter because of a production suspension at one of its health-care plants and a $467 million legal provision.

CONSORTIUM SEEKS TO BUY REEBOK FROM ADIDAS

A consortium of investors from Hong Kong and Abu Dhabi is launching a bid to buy Reebok from Adidas, in a move that, if successful, would unwind an eight-year-old marriage of sneaker makers that has shown disappointing results.

SAP NET PROFIT RISES 15%, CUTS OUTLOOK

Enterprise software provider SAP lowered its earnings outlook for this year Monday, even as it reported a 15% increase in third-quarter net profit, boosted by growth in subscriptions for its cloud-based software products.

Lufthansa Pilots to Expand Strike

German union Vereinigung Cockpit said Monday it has called Deutsche Lufthansa pilots to expand their strike to some long-haul flights on Tuesday.

SYNGENTA FACES MORE SUITS OVER ITS SEEDS

Syngenta faces escalating legal battles over its sale of genetically engineered corn seeds that some farmers and agricultural companies say have roiled international grain markets this year.

AUSTRALIA LOOKS TO RAISE UP TO $4.82B IN MEDIBANK IPO

Australia's government could reap as much as $4.82 billion from the sale of the country's largest health insurer.

AUSTRALIA'S TRANSFIELD REJECTS BID FROM FERROVIAL

Transfield Services, an Australian provider of project-management-and-maintenance services, said Monday it had received a $785 million takeover bid from Spain's Ferrovial.

QATAR BUYS INTO HONG KONG DEPARTMENT-STORE OPERATOR

Qatar's sovereign-wealth fund is buying around a fifth of Lifestyle International Holdings, a Hong Kong department store chain popular with mainland Chinese shoppers for $616.1 million.

CHRISTIE'S UNIT TO OPEN OFFICE IN DUBAI

Luxury property brokerage Christie's International Real Estate is making its first foray into the Middle East, opening an office in Dubai.

BRAZIL'S ROUSSEFF ADMITS WRONGDOING AT PETROBRAS

Brazil's President Dilma Rousseff said Saturday that there was embezzlement at government-controlled oil producer Petróleo Brasileiro.