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Highlights: December 5 - December 10, 2016

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Staff Writer | December 12, 2016
The summary of the last week's key headlines and the most interesting stories.
Highlights
Week at a glance  
First case of bird flu in domestic duck in France

H5N8 bird fluA case of H5N8 bird flu has been detected on a duck farm in southern France....

Volkswagen announces R$ 1 billion investment in Brazil

Volkswagen BrazilVolkswagen announced that it will invest R$ 1 billion in its bus and truck production line in Brazil over the next five years....

China upset as U.S. bars Fujian buying Aixtron's U.S. business

Lu KangChina's Foreign Ministry expressed displeasure on Monday after President Barack Obama blocked a Chinese investment fund from acquiring the U.S. business of German semiconductor equipment maker Aixtron....

Jamaica could save hundreds of gigawatt hours every year

Jamaica electricityJamaica's usage of energy is one of the worst in Latin America and the Caribbean, says Kelly Tomblin, president and CEO of power utility Jamaica Public Service Company (JPS)....

$100 billion Saudi-SoftBank tech fund oversubscribed

Masayoshi SonSoftBank Group is close to tying up $100 billion for a technology fund that it announced with the government of Saudi Arabia, the company’s founder and CEO Masayoshi Son said....

Consolidated Communications to buy FairPoint in $1.5 billion deal

FairPoint CommunicationsConsolidated Communications will buy FairPoint Communications in an all-stock deal valued at $1.5 billion, including debt....

Hong Kong's CKI offers $5.4 billion for Australian Duet Group

Li Ka-ShingHong Kong's Cheung Kong Infrastructure Holdings made a $5.4 billion approach for Australian energy firm Duet Group....

Liberty Mutual to acquire Ironshore from Fosun for $3 billion

Liberty MutualLiberty Mutual Insurance announced has signed a definitive agreement to acquire Ironshore, a specialty lines company, from Fosun International Limited....

Hudson's Bay Company Q3 sales increased 28.6%

Hudson's Bay CompanyHudson's Bay Company (HBC) announced its third quarter financial results for the period ended October 29, 2016....

Ashtead reported rental revenue increased 28%

Ashtead GroupAshtead delivered a strong quarter with reported rental revenue increasing 28% (13% at constant exchange rates) for the six months and underlying pre-tax profit of £426m....

Synchronoss to acquire Intralinks in $821 million deal

Synchronoss TechnologiesSynchronoss Technologies will buy Intralinks Holdings for approximately $821 million in equity value....

Equinix to acquire 24 data centers from Verizon in $3.6 billion deal

EquinixEquinix will purchase a portfolio of 24 data center sites and their operations from Verizon Communications for $3.6 billion in an all cash transaction....

GoDaddy acquires Host Europe Group for $1.79 billion

GoDaddyGoDaddy has entered into a definitive agreement to acquire Host Europe Group (HEG) for €1.69 billion ($1.79 billion)....

Roper Technologies to buy Deltek for $2.8 billion

DeltekRoper Technologies has entered into a definitive agreement to acquire Deltek in an all cash transaction valued at $2.8 billion....

South Korea to file criminal complaint against VW

DieselgateSouth Korea's trade regulator will file criminal complaints against five current or former Volkswagen executives and impose a record fine....

Blackstone Group buys Solvay's Acetow unit for $1.07 billion

AcetowBelgium company Solvay said it sold its Acetow unit, which makes substances for cigarette filter producers, to private-equity firm Blackstone Group for around 1 billion euros ($1.07 billion)....

DP World and CDPQ created $3.7 billion investment platform

DP WorldDP World announced the creation of an investment vehicle in partnership with Caisse de dépôt et placement du Québec (CDPQ), one of North America’s largest pension fund managers....

CMA fines Pfizer and Flynn record £90 million for drug price hike

PfizerThe Competition and Markets Authority (CMA) has imposed a record £84.2 million fine on the pharmaceutical manufacturer Pfizer, and a £5.2 million fine on the distributor Flynn Pharma....

PostNL rejects revised final proposal from bpost

PostNL bpostThe board of management and supervisory board of PostNL considered bpost’s revised and final proposal and decided to reject bpost’s revised and final proposal....

Swiss banks fail to report some suspicious transactions

Swiss banksSwitzerland must do more to prevent financial crime and banks in particular should step up efforts to spot and report suspected crimes, an inter-governmental Financial Action Task Force (FATF) said....

Abbott goes to court to terminate $5.8 billion acquisition of Alere

AlereAbbott Laboratories said it has filed a complaint to terminate its $5.8 billion agreement to buy Waltham-based Alere....

Russia sells 19.5% stake in Rosneft to Glencore, Qatar in $11.3 billion deal

Igor SechinRussia sold a 19.5% stake in Rosneft to a consortium formed by Glencore and Qatar in a deal valued at some €10.5 billion ($11.3 billion)....

National Grid to sell stake in gas business, return £4bn to shareholders

National GridNational Grid is to sell a 61% stake in its gas distribution business to a consortium of investors for about £3.6bn and then return £4bn to shareholders....

UniCredit sells control in Poland's Pekao for $2.57 billion

PekaoPoland's largest insurance company PZU and a Polish government vehicle have agreed to buy a combined 32.8% stake in the country's second-largest bank by assets from Italy's UniCredit....

Expenditure of Norway exceed 50% of GDP 1st time in 20 years

Norways governmentThe general government’s total expenditure in the last four quarters is estimated at around NOK 1 550 billion, which amounts to 50.1 per cent of GDP in the same period....

Sears Holdings Q3 net loss $748 million

Sears HoldingsSears Holdings Corporation announced financial results for its third quarter ended October 29, 2016....

European Union in war with 7 member states over Volkswagen

Volkswagen EUThe European Union began legal action against Germany, Britain and five other member states for failing to police emissions test cheating by carmakers after the Volkswagen diesel scandal....

Sumitomo to buy Irish banana firm Fyffes for $800 million

FyffesSumitomo Corporation has agreed to buy Irish banana producer Fyffes for 751 million euros ($798 million), a 49 percent premium to Thursday's price....

U.S. questions Russia's right to sell stake in Rosneft

RosneftThe U.S. government is to check if sanctions where violated when Russia this week struck a deal to sell a stake in oil producer Rosneft....

Twenty-First Century Fox offers $14.1 billion for UK's Sky

SkyTwenty-First Century Fox has made a $14.1 billion bid for the remaining shares of European Sky the U.S. company does not already own....

Amazon: We are not building cashier-less stores

Amazon groceryAmazon has denied reports that it plans to open at least 2,000 cashier-less grocery stores across the United States....

Korea's imports of U.S. beef skyrockets 48% this year

U.S. beefSouth Korea's imports of U.S. beef jumped 47.6 percent on year in the first 10 months of this year....

Important mobile phones in Volkswagen case lost or destroyed

Volkswagen brokenThe Federal Trade Commission (FTC), involved in settlement talks with Volkswagen over its diesel emissions scandal, has raised concerns about nearly two dozen mobile phones destroyed or lost by the German carmaker....


 

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