Hitachi to halt work on UK nuclear project

Japanese conglomerate Hitachi Ltd. will halt work on a nuclear power project in the U.K. and take a one-time charge as negotiations with the British government over funding stalled, the Nikkei reported. Shares in Tokyo rallied the most in more than two years.

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Hitachi to snap up ABB’s £8.7bn power grids unit

Hitachi Ltd. is making its biggest ever acquisition by agreeing to purchase the power grid division of ABB Ltd., a deal that’s aimed at turning the Japanese conglomerate into a top global provider of equipment for electricity networks.