Nokia confirms it is in talks to buy smaller telecom equipment maker Alcatel-Lucent. This deal would combine two of the industry’s weakest players but could post challenges in cutting costs and overcoming political opposition, especially in France. A combine company would have sales around $27 billion dollars. Norfolk Souther (NSC) is slumping after issuing a weak first quarter forecast. It blames slower coal shipments and exports. Lower oil prices, it says, are also contributing to the company’s revenue miss. Procter & Gamble (PG) is laying the groundwork for a new leader. The Wall Street Journal says A.G. Lafley may step aside as early as the summer.
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