Did you know Alcatel-Lucent had a vacuum business? Neither did we. We're talking industrial pump solutions rather than Hoovers but it doesn't matter because it's being sold anyway, for €200 million ($281 million), so that AlcaLu can focus on the stuff that we do know it does. German company Pfeiffer Vacuum Technology is the lucky purchaser. (See AlcaLu to Sell Vacuum Biz for €200M.)
Nowtel, an Irish firm specializing in providing cheap prepaid numbers for businesses, has gone bust with debts of almost €140 million (US$196 million), reports Independent.ie. Verizon Communications Inc. (NYSE: VZ) is owed the most, with debts of €24.5 million ($34.4 million) outstanding.
Is this a class action I see before me? Lawyers in Wales have warned UK giant BT that it could face a wave of compensation claims from its former engineers, reports Wales Online. Around 300 retired engineers are currently involved in a case which is seeking compensation for the workers having had their hearing seriously damaged by the equipment they used while working for the company in the 1970s and 1980s.