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Highlights: April 19 - April 24, 2015

Staff writer ▼ | April 27, 2015
The summary of the last week's key headlines and the most interesting stories.
Highlights of the week
WEEK AT A GLANCE  
Shanghai GM to spend $16 billion on new vehicles
Monday April 20, 2015 4:18AM
GM ShanghaiShanghai GM, a joint venture between General Motors and Chinese SAIC Motor, plans to spend 100 billion yuan ($16 billion) over the next five years developing new vehicles, Shanghai GM president Wang Yongqing said....

KPN to sell BASE Company to Telenet for $1.43 billion
Monday April 20, 2015 6:40AM
BASERoyal KPN N.V. has reached an agreement to sell BASE Company to Telenet for a cash consideration of EUR 1,325 million....

Prologis to acquire $5.9 billion portfolio from KTR Capital Partners
Monday April 20, 2015 6:52AM
KTR Capital PartnersPrologi has signed definitive agreements to acquire the real estate assets and operating platform of KTR Capital Partners (KTR) and its affiliates for a total purchase price of $5.9 billion....

Avian flu: Iowa to euthanize 5.3 million chickens, Wisconsin declares emergency
Monday April 20, 2015 6:07PM
ChickenA second outbreak of avian influenza has been discovered in Iowa, this time at a commercial chicken laying facility in Osceola County in northwest Iowa, the U.S. Department of Agriculture said....

Union National Bank Q1 profit 20% better
Tuesday April 21, 2015 2:30AM
Union National BankUnion National Bank recorded a strong increase in profit to AED 615 million for the first quarter of 2015 (Q12014: AED 512 million), up by 20% year-on-year and by 41% over the preceding quarter....

China to build world's first 4G nuclear power plant
Tuesday April 21, 2015 5:22AM
China nuclearThe building of the world's first commercial fourth-generation nuclear power plant may start in east China's Jiangxi Province in 2017, if a plan is approved by the government....

Venezuela receives new $5 billion loan from China
Tuesday April 21, 2015 8:35AM
Nicolás MaduroVenezuela received a new $5 billion loan from China, announced President Nicolás Maduro, part of an oil-for-loans deal....

Teva willing to give $31 billion for Mylan
Tuesday April 21, 2015 9:17AM
TevaTeva Pharmaceutical Industries Ltd. announced a proposal to acquire all of the outstanding shares of Mylan N.V. in a transaction valued at $82 per Mylan share....

Celanese Corporation Q1 adjusted EPS up 34 percent
Tuesday April 21, 2015 9:28AM
Celanese CorporationCelanese Corporation reported first quarter 2015 adjusted earnings per share of $1.72 versus $1.28 in the prior quarter....

PhRMA member companies invested $51.2bn in R&D in 2014
Tuesday April 21, 2015 10:00AM
PhRMAPharmaceutical Research and Manufacturers of America's (PhRMA) member companies invested an estimated $51.2 billion last year in the research and development (R&D) of new innovative treatments and cures....

Daiichi Sankyo collects $3.2 billion from Sun Pharma stake
Tuesday April 21, 2015 1:25PM
Sun PharmaceuticalJapan's Daiichi Sankyo has raised 200 billion rupees ($3.2 billion) by selling its entire stake in Sun Pharmaceutical Industries, IFR reported....

Osram to separate $2.5 billion general lamps business
Tuesday April 21, 2015 1:45PM
OsramOsram plans to transfer its 2 billion euro ($2.5 billion) general lamps business into an independent legal structure....

India: Coca-Cola can't build plant here
Tuesday April 21, 2015 4:29PM
Coca-ColaThe government of the southern Indian state of Tamil Nadu has canceled a permission given to international beverages giant Coca-Cola to set up a plant in the wake of massive protests by local farmers, sources said....

Permira Funds sells Iglo Group to Nomad for €2.6 billion
Wednesday April 22, 2015 3:15AM
Iglo GroupPermira announced that a company backed by Permira Europe III has entered into a definitive agreement to sell Iglo Foods Holdings, Europe's largest frozen food business, to Nomad Holdings for €2.6 billion....

Perrigo rejects unsolicited proposal from Mylan
Wednesday April 22, 2015 3:58AM
PerrigoPerrigo Company board has unanimously rejected the unsolicited proposal from Mylan NV to acquire all of the outstanding shares of Perrigo for $205 per share....

Train strikes in Germany may cost 100 million euros a day
Wednesday April 22, 2015 5:07AM
Train strike GermanyThe GDL union, which represents about one in ten of railway operator Deutsche Bahn's nearly 200,000 workers, said that a planned 66-hour strike by train drivers which starts on Tuesday could cost industry as much as 100 million euros a day....

SAP cloud subscriptions and revenue grew 131%
Wednesday April 22, 2015 6:28AM
SAPSAP reported that first quarter non-IFRS cloud subscriptions and support revenue grew 131% year-over-year (95% at constant currencies)....

Pensions at risk for 80 million people in Latam, Caribbean
Wednesday April 22, 2015 6:42AM
Pensions LatamExperts and policy makers gathered at the Inter-American Development Bank (IDB) to discuss the future of pensions in Latin America and the Caribbean....

Baker Hughes Q1 revenue down 20%, 10,500 workers to go home
Wednesday April 22, 2015 8:02AM
Baker HughesBaker Hughes Incorporated announced results for the first quarter of 2015. Revenue was $4.6 billion, down 20% compared to the first quarter of 2014....

Yahoo Q1 net earnings down 93 percent
Wednesday April 22, 2015 8:10AM
Yahoo mobileYahoo! Inc. reported results for the quarter ended March 31, 2015. Net earnings were $21 million, compared to $312 million in the Q1 2014....

Chipotle Mexican Grill Q1 revenue up 20.4%
Wednesday April 22, 2015 9:05AM
Chipotle Mexican GrillChipotle Mexican Grill reported financial results for its first quarter ended March 31, 2015. Revenue was $1.09 billion, up 20.4% from Q1 2014....

Coca-Cola cash from operations went up 48%
Wednesday April 22, 2015 9:22AM
Coca-ColaThe Coca-Cola Company reported first quarter 2015 operating results. Reported EPS was $0.35 and comparable EPS was $0.48....

Tesco posts worst results in its history with £6.4bn loss
Wednesday April 22, 2015 9:35AM
TescoTesco has reported the worst results in its history with a record statutory pre-tax loss of £6.4bn for the year to the end of February. That compares with annual pre-tax profit of £2.26bn a year earlier....

NRF: Banks know for 25 years that PINs are safer but don't care
Wednesday April 22, 2015 10:00AM
PINMost merchants aren't thrilled about the new credit cards being rolled out this year by the banking industry. However, a problem is much bigger....

Brookfield affiliate to buy Associated Estates in $2.5 billion deal
Wednesday April 22, 2015 3:35PM
Associated EstatesAssociated Estates Realty Corp. board has approved a merger agreement under which a real estate fund by Brookfield Asset Management will acquire all outstanding shares of common stock of Associated Estates for $28.75 per share in cash....

Facebook Q1 revenue of $3.54 billion increased 42%
Wednesday April 22, 2015 4:53PM
FacebookFacebook, reported financial results for the first quarter ended March 31, 2015. Revenue totaled $3.54 billion, an increase of 42%, compared with $2.50 billion in Q1 2014....

Dolby Laboratories profit falls 23.59 percent
Thursday April 23, 2015 2:31AM
Dolby LaboratoriesDolby Laboratories (DLB) has reported a 23.59 percent fall in profit for the quarter ended March 27, 2015....

ARRIS to acquire Pace plc for $2.1 billion in stock and cash
Thursday April 23, 2015 9:05AM
PaceARRIS Group, Inc. and Pace plc. announced that they have agreed that ARRIS will acquire Pace for aggregate stock and cash consideration of $2.1 billion (£1.4 billion)....

Deutsche Bank to pay $2.5 billion over rate rigging
Thursday April 23, 2015 1:09PM
Deutsche BankU.S. and British authorities fined Deutsche Bank $2.5 billion, accused the bank of obstructing regulators and ordered it to fire seven employees in the settlement of benchmark interest rate rigging....

UniCredit and Santander to merge asset management businesses in $5.8 billion deal
Friday April 24, 2015 4:17AM
Banco SantanderUniCredit and Banco Santander agreed to merge their asset management businesses in a deal valuing the new group at 5.4 billion euros ($5.8 billion)....

EU accusing Gazprom of abusing dominant position, fine could reach 16bn
Friday April 24, 2015 6:45AM
GazpromRussia's biggest gas utility, Gazprom, was hit with an antitrust case by European Union regulators for "abusing" its dominant position and overcharging customers for gas supplies....

CACI International to support U.S. Army in $5.2 billion contract
Friday April 24, 2015 7:20AM
CACI InternationalCACI International has been selected as a prime contractor to provide intelligence support to the U.S. Army Intelligence and Security Command (INSCOM) on the Global Intelligence Support Services contract....

Starbucks saw strong Q2 in all fields
Friday April 24, 2015 8:45AM
StarbucksStarbucks Corporation reported financial results for the second quarter and 26-week fiscal year to date ended March 29, 2015....

Spain: Fight against fraud brought $37.84 billion
Friday April 24, 2015 9:00AM
Mariano RajoyDuring the session in the Lower House of Parliament, Prime Minister Mariano Rajoy said that the actions taken in 2012, 2013 and 2014, as part of the fight against fraud led to the collection of 34.79 billion euros ($37.84 billion)....

Comcast steps back from $45 billion Time Warner Cable deal
Friday April 24, 2015 12:15PM
ComcastComcast Corporation announced that its merger agreement with Time Warner Cable and its transactions agreement with Charter Communications have been terminated....

Mylan goes hostile in bid for Perrigo with $31 billion
Friday April 24, 2015 3:29PM
PerrigoMylan NV said it would take its $31 billion offer for Perrigo Co Plc directly to shareholders, in what is set to be one of the most high-profile hostile takeover attempts of the year....


 

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