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Highlights: January 9 - January 14, 2017

Staff Writer | January 16, 2017
The summary of the last week's business headlines and the most interesting stories.
Highlights
Week at a glance  
Senior German leader: EU could break apart, that's clear now

Sigmar GabrielGerman Vice Chancellor Sigmar Gabriel told Der Spiegel that the fall of the European Union is very real and it could happen soon....

Tesco spinach in China contains pesticide 71 times over limit

Tesco spinachTwo batches of vegetables sold at Lotus and Tesco outlets in Shanghai have been found to contain excessive amounts of pesticide residue and have been removed from shelves....

McDonald’s selling majority stake in China for up to $2 billion

McDonald’s ChinaMcDonald as reached a deal to sell a controlling stake in its China operations to an investor group led by Citic, one of China’s largest state-owned companies....

Hotels Norfolk and Virginia Beach best performers, New Orleans sinks

New OrleansThe U.S. hotel industry recorded mostly positive results in the three key performance metrics during the week of December 25-31, 2016, according to data from STR....

Ipsen to buy Merrimack's pancreatic cancer assets in $1 billion deal

IpsenFrench drugmaker Ipsen said it will buy some assets of Merrimack Pharmaceuticals, including pancreatic cancer drug Onivyde, for up to $1 billion....

UnitedHealth’s Optum to buy Surgical Care Affiliates for $2.3 billion

OptumOptum, part of UnitedHealth Group, and Surgical Care Affiliates are combining in an agreement that calls for the acquisition of SCA’s outstanding common stock for $57.00 per share....

Takeda to acquire Ariad Pharmaceuticals in $5.2 billion deal

Ariad PharmaceuticalsTakeda Pharmaceutical Company will acquire all of the outstanding shares in Ariad Pharmaceuticals for $24.00 per share in cash, or an enterprise value of approximately $5.2 billion....

Mars to buy VCA pet healthcare in $9.1 billion transaction

VCAMars will acquire all of the outstanding shares of VCA for $93 per share, or a total value of approximately $9.1 billion including $1.4 billion in outstanding debt....

Valeant to sell several businesses for $2.119 billion

ValeantValeant Pharmaceuticals International has entered into an agreement to sell its CeraVe, AcneFree and AMBI skincare brands to L'Oréal for $1.3 billion in cash....

NovaBay Pharmaceuticals Q4 sales increased 146% to $3.8 million

NovaBay PharmaceuticalsNovaBay Pharmaceuticals announced that Avenova sales for the fourth quarter of 2016 are expected to exceed $3.8 million....

Ford Motor declares $0.15 quarterly dividend

Ford MotorFord Motor declared a quarterly dividend of $0.15 per share, or $0.6 annualized....

Morgan Stanley expects 258% stock market return in Argentina

Morgan StanleyInvestors betting on Argentina's stock market could make a return of 258% in five years, according to analysts at Morgan Stanley....

Global piracy plunges to 18-year low in 2016

Global piracyGlobal piracy reached its lowest level in 18 years in 2016, with the number of vessels hijacked falling from the previous year, ICC International Maritime Bureau said in its annual piracy report....

Bangladesh remittance drops 17 percent in H1

Bangladesh BankBangladesh's overall remittance inflow fell by 17.63 percent year on year to $6,166.85 million in the first half of 2016-17 fiscal year, a central bank official said....

UAE plans to invest $163bn in renewable energy projects

UAE solarThe UAE government has announced plans to invest AED600bn ($163bn) by 2050 in projects to boost clean energy contribution in the country's total energy mix to 50%....

Enel signs deal with Saudis, buys U.S. company

EnelEnel and Saudi Arabian utility Saudi Electricity Company (SEC) have signed a Framework Agreement for cooperation in power distribution sector....

Bulgaria to halt electricity exports on Friday

Bulgaria winterBulgaria will halt the exports of electricity as of 01:00 (EET) on Friday, the Energy Ministry says....

Turkey to offer citizenship to those who buy $1m in property, invest $2m

Turkey homeTurkey will grant citizenship to foreigners who buy properties worth at least $1 million and invest a minimum of $2 million or deposit at least $3 million in a bank account for more than three years....

California ranks first in nation in direct food sales

California farmers marketMore than 167,000 U.S. farms sold their produce using direct marketing practices, totaling $8.7 billion in revenue in 2015....

Fiatgate: EPA says FCA violated Clean Air Act

Jeep Grand CherokeeThe U.S. Environmental Protection Agency (EPA) issued a notice of violation to Fiat Chrysler Automobiles N.V. and FCA US (collectively FCA) for alleged violations of the Clean Air Act....

U.S. farmers cut winter wheat acreage to 107-year low

U.S. farmers wheatU.S. farmers slashed their winter wheat plantings to the lowest in more than a century as supplies of the grain ballooned to a 29-year high, the U.S. Agriculture Department said....

UniCredit shareholders back record 13 billion euros cash call

UniCreditShareholders in UniCredit approved a record 13 billion euros ($14 billion) share issue....

ILO: Global unemployment expected to rise 3.4 million in 2017

Global unemploymentThe global unemployment rate is expected to rise modestly from 5.7 to 5.8 percent in 2017 representing an increase of 3.4 million in the number of jobless people, a new International Labour Organization (ILO) report shows....

Chinese yearly trade surplus shrinks for first time since 2011

Chinese yearly tradeChinese trade was weaker than expected in December leading to the first shrinkage in the full-year surprlus since 2011....

Business insolvencies in Germany down 18.8% in October 2016

Business insolvenciesIn October 2016, German local courts reported 1,621 business insolvencies....

Sanchez Energy, Blackstone EP to buy 155,000 acres in Eagle Ford for $2.3bn

Sanchez EnergySanchez Energy Corporation and funds managed by Blackstone Energy Partners have entered a strategic 50/50 partnership and together they have signed an agreement to buy Anadarko Petroleum Corporation’s working interest in approximately 318,000 gross operated acres in the Western Eagle Ford....

Nivalis Therapeutics to lay off 80% of staff, including CEO

Nivalis TherapeuticsNivalis Therapeutics announced that its board has approved a restructuring plan as part of the company’s initiative to explore strategic alternatives....

KKR to buy Hitachi's power tools unit for $1.3 billion

Hitachi KokiKKR & Co has agreed to buy Hitachi's power tools unit, Hitachi Koki for about $1.3 billion....

China has technological cooperation with 158 countries, regions

China workersChina has established cooperation ties in science and technology with 158 countries and regions in the world, according to the Ministry of Science and Technology....

Mayor Reed unveils 102 electric vehicle charging stations at Hartsfield-Jackson Atlanta

Hartsfield-JacksonThe city of Atlanta announced that Mayor Kasim Reed unveiled 102 new electric vehicle charging stations at Hartsfield-Jackson Atlanta International Airport....

Takata pleads guilty, will pay $1 billion for airbag scheme

TakataTokyo-based Takata Corporation agreed to plead guilty to wire fraud and pay a total of $1 billion in criminal penalties....

Food market regulator: Quarter of Russian food faked

Russia fake foodAbout a quarter of Russian food is faked on a permanent basis, Alexei Alexeyenko, an aide to the Federal Service for Veterinary and Phytosanitary Oversight head, said at the Gaidar Forum....

Flight 666 with 13 years old plane lands in HEL on Friday the 13th

FinnairMore than 100 brave passengers flying from Denmark to Finland arrived safely despite facing a host of superstitions....

Huge difference among states in down payment when buying home

Buying homeCobbling together a 20 percent down payment on a home costs more than two thirds of the average annual income....


 

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