Hitachi and Mitsubishi mull merger

Hitachi and Mitsubishi Heavy Industries have begun talks on what would be Japan’s biggest domestic merger, it is understood, heralding a long awaited shake-up of the nation's industrial behemoths. However, officials from both firms denied the talks, saying no announcement is planned. A merger would create a $150bn revenue infrastructure firm, second only to GE, and could provide impetus for essential cost cuts.