CNN Money: Top business headlines for Sept. 3

    5:25 AM, Sep 3, 2013   |    comments
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    NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Tuesday, September 3.

    It happened: Microsoft to buy Nokia's devices division for $7.7 billion
    After years of rumors about what former Microsoft executive and current Nokia CEO Stephen Elop had in mind for the world's most prominent Windows Phone brand, it's official: Microsoft is buying Nokia's Devices and Services division for 5.44 billion euros, or just over $7.7 billion. The deal will give Microsoft control of Nokia's smartphone manufacturing, and 32,000 people who worked for Nokia last week now work for Microsoft, pending the completion of the deal, which the companies said was expected to close in the first quarter of 2014.

    Verizon pays $130 billion to buy out Vodafone
    Verizon has agreed to pay $130 billion to take full control of Verizon Wireless from U.K. partner Vodafone, the companies said Monday. The deal will give Verizon (VZ, Fortune 500) 100% ownership of America's largest and most profitable wireless provider. In return for its 45% stake, Vodafone (VOD) will receive nearly $120 billion in Verizon stock and cash, plus Verizon's minority 23% stake in Vodafone Italy.

    Health care providers, insurers pitch state exchanges
    A coalition of health care providers, insurers, bill collectors and community groups have stepped in to promote exchanges where people can buy health insurance even in the states that have declined to create or promote their exchanges.
    While the supporters may differ on other issues, they share a common understanding of the financial gains to be made from the latest step in implementing the 2010 health care law, supporters say.

    New travel website predicts changes in hotel prices
    Travel booking sites have become so sophisticated that some say they can save people money by predicting future prices. Bing and Kayak, for example, offer price-predicting features that forecast airfares in the near future. The latest travel website to offer soothsaying powers is TheSuitest, a hotel booking site that includes a feature called the Hotel Time Machine. Once you pick a room, the feature tells you the chances that the rates will rise or fall within the next 30 days and the likelihood that the hotel will sell out.

    Travel agents dispute claim that Web makes job obsolete

    The digital revolution has imperiled the future of many job categories, including darkroom film processor, typewriter repairman and telephone operator. With the surge of sophisticated travel websites, can we include travel agents to the list of nearly obsolete jobs? As you might expect, the American Society of Travel Agents doesn't think so. The trade group that represents more than 5,900 travel agents and travel firms rejects the notion that travel websites will eventually put warmhearted agents out of work.



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