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Highlights: August 14 - August 18, 2017

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Staff Writer |
Highlights
Week at a glance  

The summary of the last week's business headlines and the most interesting stories.


German company to set up cell phone tower on the moon

Part Time ScientistsPart Time Scientists, a start-up company in Germany, is making plans to send the first telecommunication infrastructure to the #moon, NBC News reports....

Nabors Industries to acquire Tesco Corporation in all-stock transaction

Nabors IndustriesNabors Industries has signed an agreement to acquire all of the issued and outstanding common shares of Tesco Corporation, with each outstanding share of common stock of Tesco being exchanged for 0.68 common shares of Nabors....

VF Corp to buy Dickies workwear maker for $820 million

VF CorpApparel and footwear maker VF Corp said it would buy privately held Williamson-Dickie Mfg. Co, the owner of Dickies and Workrite workwear, for about $820 million in cash....

Transocean in $1.1 billion deal to buy Songa Offshore

TransoceanTransocean agreed a deal to buy Norwegian competitor Songa Offshore for 9.1 billion Norwegian crowns ($1.1 billion)....

Peregrine Pharmaceuticals cuts 20% of workforce to reduce costs

Peregrine PharmaceuticalsPeregrine Pharmaceuticals announced that it has reduced its overall workforce by 60 employees (or 20%)....

Top South Korea's steelmaker to hire 6,000 full-time employees by 2020

POSCOPOSCO Co., South Korea's top steelmaker, said it will hire 6,000 full-time employees by 2020, in line with the government's policy of raising job prospects for young people....

UK unemployment rate lowest since 1975

UK unemployment rateThe UK unemployment rate declined further in the second quarter to the lowest level in 42 years and earnings growth exceeded expectations, but continued to lag behind inflation, squeezing consumers' disposable income....

Over 28 million contaminated eggs enter Germany via Netherlands

Germany contaminated eggsThe scandal surrounding Fipronil contaminated eggs in Germany is far larger than first admitted by authorities, a report by the newspaper Neue Osnabruecker Zeitung (NOZ) suggests....

France's jobless rate lowest since 2011

France's joblessFrance's unemployment rate dropped in the second quarter to the lowest since late 2011, data from the statistical office Insee showed Thursday....

Individual personal pensions fare worse than group pensions

RetirementPeople who take out an individual personal pension can expect lower returns than those who invest in a group personal pension plan, suggests new research from the University of Bath....

23 egg farms in South Korea contaminated with pesticides

23 egg farmsEggs from 23 more farms in South Korea were found to have been contaminated with harmful insecticides, the government said Thursday, fueling nationwide concerns over food safety....

Wal-Mart Stores Q2 consolidated net income down 23.2 percent

Wal-Mart StoresWal-Mart Stores reported a decline in second-quarter profit with a significant charge....

Alibaba Q1 profit surges 96 percent

AlibabaAlibaba said that its net profit jumped 96 percent to more than 14 billion yuan ($2.1 billion) year on year in the first fiscal quarter ending June....

MassMutual International to sell MassMutual Asia to Yunfeng FG and Asian investors

MassMutualMassMutual International will sell Hong Kong-based MassMutual Asia (MassMutual Asia) to Yunfeng FG and several Asia-based investors....

New York & Company Q2 earnings climb 228%

New York & CompanyNew York & Company released a profit for its second quarter that gained ground from last year....

Foot Locker Q2 income falls 36%

Foot LockerFoot Locker released earnings for second quarter that declined from last year....

Buyout firms buys German generics group Stada for $6.2 billion

StadaBain Capital and Cinven have won control of Germany's Stada with a sweetened 5.3 billion euro ($6.2 billion) bid for the generic drugmaker, in the largest takeover of a listed German company by buyout firms....

Brazil approves Bolivia's accession into Mercosur

Fatima BezerraThe Brazilian delegation to the Mercosur Parliament (Parlasul) approved the text of the Protocol for the Accession of Bolivia, which will guide the country’s inclusion in the bloc....


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