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Highlights: January 16 - January 21, 2017

Staff Writer | January 23, 2017
The summary of the last week's business headlines and the most interesting stories.
Highlights
Week at a glance  
Luxottica and Essilor agree 46 billion euros merger

Luxottica EssilorItaly's Luxottica and France's Essilor have agreed a 46 billion euros ($49 billion) merger to create a global giant with annual revenue of more than 15 billion euros....

Eight men as rich as half the world, says Oxfam

DavosThe gap between the super-rich and the poorest half of the global population is starker than previously thought....

Ford recalls over 4,500 burning Kuga cars in South Africa

KugaFord South Africa has announced a safety recall of more than 4,556 Kuga 1.6 liter model vehicles after some of them reportedly caught fire while being driven....

UK CEOs bullish on business growth, bearish on global economy

UK CEOsUK CEOs are more upbeat about the growth prospects for their own companies than 12 months ago, according to PwC’s 20th annual CEO Survey published at the World Economic Forum in Davos....

Noble Energy to acquire Clayton Williams Energy for $2.7bn

Noble EnergyNoble Energy will acquire all of the outstanding common stock of Clayton Williams Energy for $2.7 billion in Noble Energy stock and cash....

BAT buys all of Reynolds in $49.4 billion deal

British American TobaccoBritish American Tobacco (BAT) is buying the 57.8% of Reynolds American it doesn't already own in an agreed cash-and-shares offer worth $49.4 billion....

EU auto makers post record December car sales

EU auto makersIn December 2016, the EU passenger car market posted growth (+3.0%), amounting to 1,143,653 units sold....

Airbus CEO: Flying car ready by end of year

Tom EndersAirbus Group plans to test a prototype for a self-piloted flying car by the end of the year, the group's CEO Tom Enders said....

Walmart to create 10,000 retail jobs

WalmartWalmart is planning $6.8 billion of capital investments in the U.S. in the coming fiscal year....

315 natural catastrophe events in 2016 led to losses of $210 billion

Natural catastropheImpact Forecasting, Aon Benfield's catastrophe model development team, presented its 2016 Annual Global Climate and Catastrophe Report....

Exxon paying $6.6 billion for more assets in hot Permian Basin

ExxonExxon Mobil Corp. will pay up to $6.6 billion to double its holdings in the Permian Basin of west Texas and New Mexico, the largest oil field in the United States....

Abu Dhabi Ports net profits increased 140 percent

Abu Dhabi PortsAbu Dhabi Ports has contributed more than 3% of Abu Dhabi's non-oil GDP and 1.8% of the UAE's non-oil GDP....

Eli Lilly to acquire CoLucid Pharmaceuticals for $960m

CoLucid PharmaceuticalsEli Lilly and Company and CoLucid Pharmaceuticals announced an agreement for Lilly to acquire CoLucid for $46.50 per share or approximately $960 million....

The value of avocado shipments from Peru increased 45.7%

Peru avocadoBetween January and November 2016, avocado shipments amounted to $445.7 million....

NextEra Energy completes sale of FiberNet to Crown Castle for $1.5bn

NextEra EnergyNextEra Energy completed the previously announced sale of FiberNet and its subsidiaries to Crown Castle International Corp. or $1.5 billion in cash....

Cable One to acquire NewWave for $735 million

NewWave CommunicationsCable One entered into a definitive agreement to acquire NewWave Communications for $735 million in cash....

Room upgrade can increase hotel profits up to 35 percent

Hotel roomWith travelers spending more than $278 billion on accommodations in the U.S. last year, hotel chains that explore creative new ways to engage customers have the potential to significantly increase their profits....

$15 California minimum wage has big impact on pay, none on jobs

California minimum wageCritics of minimum wage increases often cite factors that will reduce employment, such as automation or reduced sales, as firms raise prices to recoup their increased costs....

Czech pharmacies illegally export medications worth nearly $6 million

Czech pharmaciesCzech State Institute for Drug Control (SUKL) published the results of inspection that revealed the illegal drug exports by the Czech pharmacies worth around 149 million crowns ($5.96 million)....

U.S. monthly jobless claims lowest since 1973

U.S. monthly joblessInitial jobless claims sank by 15,000 to 234,000 in the week ended Jan 14, just a hair above the post-recession low, the government reported....

HPE to buy SimpliVity for $650 million in cash

Hewlett Packard EnterpriseHewlett Packard Enterprise (HPE) announced an agreement to acquire infrastructure provider SimpliVity for $650 million in an all-cash transaction....

Indian Motherson to buy Finland's PKC for $609m

Motherson Sumi SystemsIndia-based car parts maker and engineering group Motherson Sumi Systems has made a 571 million-euro ($609 million) offer to buy Finland's PKC Group, a maker of wiring harnesses for trucks....

Latest avian flu outbreaks force cull of 30,000 chickens in Taiwan

Taiwan chickenTwo more bird flu outbreaks have been detected in Taiwan’s Yunlin County, leading to the culling of over 30,000 chickens at the farms in Dongshi and Lunbei Townships....

China Oceanwide to buy International Data Group

International Data GroupChina Oceanwide Holdings Group and IDG Capital have entered into a definitive agreement to acquire International Data Group....

Latvia's fish catch down 32 percent in 2015

Latvia fishingIn 2015 the total fish catch was 83,000 MT which included the Baltic Sea, long-distance ocean fisheries and inland catch....

Middle Eastern debt issuance reached $77.8 billion in 2016

Dubai bankMiddle Eastern investment banking fees reached $820.8 million during 2016, an 18 percent increase compared to fees recorded during 2015 and the highest annual fee total in the region since 2008....

U.S. investigating Herbalife over foreign bribery in China

HerbalifeThe U.S. government is investigating Herbalife over whether it violated foreign bribery laws while conducting business in China, the company said in a regulatory filing....

Surprise in France: National Front's Marine Le Pen takes lead in presidential race poll

Marine Le PenFrench National Front leader Marine Le Pen has edged ahead of conservative rival and former frontrunner François Fillon of Les Républicains party in French presidential elections 2017....


 

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