US tech giant Hewlett-Packard is selling a 51% stake in its Chinese server business for $2.3bn (£1.4bn) to Tsinghua Holdings. The deal brings together HP with the investment arm of China's Tsinghua University in a joint venture called H3C, worth $4.5bn. The new firm is being touted as the leader in China for computer servers, storage and technology services. read more
The Russian economy has contracted in the first three months of 2015 because of low oil prices, weaker spending and sanctions from the West. It shrank by 1.9% between January and March compared to the previous year, according to the Russian statistics agency. That compares to annual growth of 0.4% in the previous quarter. read more
Oil firm Royal Dutch Shell won approval from the U.S. Department of Interior to explore for oil in the Arctic. The approval depends on Shell getting a nod from other US regulators, the Bureau of Ocean Energy Management said. Shell stopped Arctic exploration more than two years ago after problems including an oil rig fire and safety failures. The Anglo-Dutch company wants to drill up to six wells in water about 40 metres deep, using two vessels that can serve as backups in the event of an emergency. This conditional approval means Shell must obtain permits from the federal government and the state of Alaska to begin drilling this summer.
Russia has delayed the return of three astronauts on board the International Space Station, following the failure of its supply spaceship. The landing of three ISS crew members was originally planned for Thursday, but is now postponed until early June, space official Vladimir Solovyov said. Last week, the out-of-control unmanned supply ship Progress M-27M burnt up as it re-entered the Earth's atmosphere. read more
The biggest global school rankings have been published, with Asian countries in the top five spots and African countries at the bottom. Singapore heads the table, followed by Hong Kong, with Ghana at the bottom. The UK is in 20th place, among higher achieving European countries, with the US in 28th. The OECD economic think tank says the comparisons - based on test scores in 76 countries - show the link between education and economic growth. read more