EghtesadOnline: ABB will keep its Power Grids business in a rejection of demands from an activist investor to spin it off and the Swiss engineering group has also unveiled plans for a $3 billion share buy back from next year.

EghtesadOnline: ABB is selling its high-voltage cabling business to NKT Cables in a deal worth 836 million euros ($932 million), the first fruit of the Swiss power and automation company's review of its massive Power Grids division.

EghtesadOnline: ABB has appointed Guido Jouret as its first chief digital officer, a move designed to ramp up the Swiss power and automation company's efforts in digital technology and the internet of things.