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Chinese e-commerce giant Alibaba Group has decided to list on the New York Stock Exchange dealing a blow to the rival Nasdaq bourse. The company, which handles more than 80 percent of online retail transactions in the world's second-largest economy, is expected to make its debut this summer in what could be the largest U.S. tech initial public offering. Alibaba could announce its decision in an amended IPO prospectus as soon as Thursday.



A source familiar with the matter said on Saturday, Medical-device maker Medtronic Inc and rival Covidien, are in advanced talks to combine in a deal valued at $45 billion to $50 billion. The person said, asking not to be named because the matter is not public, the deal, which would allow Medtronic to be domiciled in Ireland where Covidien is based and thus take advantage of lower tax rates, could come as soon as Monday. Minneapolis-based Medtronic, which makes cardiovascular and orthopedic devices, has a market value of about $61 billion.