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Highlights: August 10 - August 15, 2015

Staff writer ▼ | August 17, 2015
The summary of the last week's key headlines and the most interesting stories.
Highlights of the week
WEEK AT A GLANCE  
Chinese investment skyrockets with 246 percent increase in Germany

China GermanyChinese investment was increasing rapidly in Germany and covering various sectors from manufacturing to cultural exchange, said a Chinese official in an interview with Xinhua....

Taiwan Typhoon Soudelor causes agricultural losses of $9.42 million

Typhoon SoudelorEstimates of the agricultural losses Taiwan suffered from Typhoon Soudelor rose to NT$298.63 million ($9.42 million) as of 9 a.m. Sunday, with Hualien the hardest-hit area....

Berkshire Hathaway to buy Precision Castparts in $37.2 billion transaction

Precision CastpartsThe boards of directors of Berkshire Hathaway Inc. and Precision Castparts Corp. have unanimously approved a definitive agreement for Berkshire Hathaway to acquire, for $235 per share in cash, all outstanding PCC shares....

Google becomes part of new company called Alphabet

Larry PageGoogle chief executive officer Larry Page announced that Google is now going to be a wholly-owned subsidiary of a new company known as Alphabet....

Shake Shack Q2 total revenue increased 74.7%

Shake ShackShake Shack reported financial results for the second quarter ended July 1, 2015. Total revenue, which includes Shack sales and licensing revenue, increased 74.7% to $48.5 million from $27.7 million for Q2 2014....

OM Group stockholders voted for $1.03 billion merger

OM GroupOM Group announced that at a special meeting, stockholders voted to approve the proposal to adopt the merger agreement entered into with funds managed by affiliates of Apollo Global Management and an affiliate of Platform Specialty Products....

Northern Property REIT to create $3 billion national multi-family REIT

Northern Property REITNorthern Property Real Estate Investment Trust (NPR) and True North Apartment Real Estate Investment Trust announced the creation of Canada’s third-largest publicly-traded multi-family REIT....

Gazprom profit increased 71% to $5.9 billion

GazpromPJSC Gazprom issued its unaudited consolidated interim condensed financial information for the three months ended March 31, 2015. Profit attributable to the owners was RUB 382,112 million....

Motorcar Parts of America Q1 2016 net sales increased 36.3 percent

Motorcar Parts of AmericaMotorcar Parts of America reported results for its fiscal 2016 first quarter. Net sales increased 36.3 percent to $85.8 million from $63.0 million for the same period a year earlier....

Endo International Q2 revenues 24 percent better

Endo InternationalEndo International plc reported second quarter 2015 financial results. Revenues were $735 million, a 24 percent increase compared to Q2 2014 revenues of $593 million, including new product revenue from 2014 and 2015 strategic M&A transactions....

Outstanding balances on automotive loans and leases crossed $1 trillion

Automotive loansAccording to Equifax National Consumer Credit Trends Report, the total amount of outstanding balances on automotive loans and leases has crossed the $1 trillion mark with finance companies growing originations more quickly than commercial banks....

Alibaba to take $4.63 billion stake in consumer electronics giant Suning

SuningAlibaba will invest approximately RMB28.3 billion ($4.63 billion) for a 19.99% stake in Suning Commerce Group Limited, one of the largest consumer electronics retail chains in China....

Top Image Systems Q2 total revenues 21% better

Top Image SystemsTop Image Systems announced its financial results for the second quarter ended June 30, 2015. Total revenues were $9.9 million, an increase of 21% over the $8.2 million reported in Q2 2014....

Netlist Q2 revenues down to $1.4 million from $4.9 million

NetlistNetlist reported financial results for the second quarter ended June 27, 2015. Revenues were $1.4 million, compared to revenues of $4.9 million for Q2 2014....

Mallinckrodt buys immunotherapy maker Therakos in $1.33 billion deal

MallinckrodtDrugmaker Mallinckrodt agreed to buy immunotherapy company Therakos in a $1.33 billion deal....

GE to sell Healthcare Financial Services for $9 billion

GE healthcareGE reached an agreement to sell $8.5 billion of healthcare-related loans and its Healthcare Financial Services (HFS) U.S. lending business to Capital One for approximately $9 billion....

FIS to buy SunGard for $9.1 billion

SunGardFIS has signed a definitive agreement to acquire Wayne, Pennsylvania-based SunGard. The combined company will have over $9.2 billion in annual revenues....

Japan’s government debt hits record high of more than $10.46 trillion

Japan governmentThe central government’s debt hit a record high of ¥1.057 quadrillion, more than $10.46 trillion, at the end of June, up by some ¥3.87 trillion from the end of March, according to the Finance Ministry....

Freshpet Q2 net sales increased 39.1%

FreshpetFreshpet reported financial results for its second quarter ended June 30, 2015. Net sales increased 39.1% to $28.4 million compared to $20.4 million in Q2 2014....

Sumitomo Life to buy U.S. insurer Symetra for $3.8 billion

Sumitomo LifeSumitomo Life has agreed to buy U.S insurer Symetra Financial Corp (SYA.N) for about $3.8 billion....

Alibaba Group revenue up 28%, will bring Macy’s to China

AlibabaAlibaba Group Holding announced its financial results for the quarter ended June 30, 2015. Revenue was $3,265 million, an increase of 28% year-over-year....

Wayfair Q2 total net revenue increased 66.4%

WayfairWayfair reported financial results for its second quarter ended June 30, 2015. Total net revenue increased to $491.8 million, up 66.4% year over year....

Lenovo Q1 revenue up 3%, pre-tax income down 80 percent

LenovoLenovo Group announced results for its first fiscal quarter ended June 30, 2015. Revenue was $10.7 billion, a 3 percent increase year-over-year....

Qualcomm completes $2.4 billion acquisition of CSR

QualcommQualcomm Incorporated announced that its indirect, wholly-owned subsidiary, Qualcomm Global Trading, has completed its acquisition of CSR plc....

Applied Materials Q3 net sales were $2.49 billion

Applied MaterialsApplied Materials reported results for its third quarter ended July 26, 2015. Orders were $2.89 billion, up 15 percent sequentially and up 17 percent year over year....

Roche buys superbug diagnostics firm for up to $425 million

RocheRoche is buying U.S. diagnostics firm GeneWEAVE BioSciences for up to $425 million. Roche will pay shareholders in the privately held Californian company $190 million upfront and up to a further $235 million depending on the future success of its products....

Lightower closes $1.9 billion merger with Fibertech Networks

Lightower Fiber NetworksLightower Fiber Networks announced the closing of its $1.9 billion merger with Fibertech Networks. The combined company elevates Lightower’s position in the telecommunications industry....

TAQA revenues declined 29%

TAQATAQA announced its financial and operating results for the six months ended 30 June 2015. Significant cost reductions and strong operational performance partially mitigated the impact of a circa 50% fall in oil and gas prices....

China Recycling Energy Q2 total revenues increased 22.3%

China Recycling EnergyChina Recycling Energy Corp. announced its unaudited financial results for the second quarter ended June 30, 2015. Sales of systems increased 29.2% to $24.47 million from $18.95 million for the second quarter of 2014....


 

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