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Highlights: June 11 - June 17, 2017

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Staff Writer | June 19, 2017
The summary of the last week's business headlines and the most interesting stories.
Highlights
Week at a glance  
Foreign investment into Mauritius down 32 percent in Q1

MauritiusForeign direct investment in Mauritius fell 32 percent year-on-year in the first quarter of 2017, to 2.04 billion rupees ($59 million), due to a drop in funds going into real estate and manufacturing, data from the Bank of Mauritius showed....

Aldi to invest $3.4 billion to expand its U.S. store base

AldiGerman grocery chain Aldi said on Sunday it would invest $3.4 billion to expand its U.S. store base to 2,500 by 2022, raising the stakes for rivals caught in a price war....

Hung Parliament causes 'dramatic drop' in UK business confidence

UK ParliamentThe first poll of business leaders since Thursday’s General Election reveals a dramatic drop in business confidence and huge concern over political uncertainty, and its impact on the UK economy....

Weir Group acquiring KOP Surface Products for $114 million

Weir GroupWeir Group announced on Monday that it had entered into an agreement to acquire KOP Surface Products, a provider of advanced surface pressure control technologies, systems and services for the oil and gas industry for $114m in cash....

Stanley Gibbons puts itself up for sale

Stanley GibbonsAIM-listed stamp and coin specialist Stanley Gibbons said on Monday that it is considering a sale of some or all of the company following a comprehensive restructure....

Altice USA sets terms for valuation of $21.4bn and $1.4bn IPO

AlticeAltice USA, the US arm of multinational Dutch cable company Altice, announced terms for its IPO on Monday. ...

North Korea coal exports falls to zero

North Korea coal exportsNorth Korea's global coal exports went down to zero in April, data released Friday shows, mainly due to China's recent decision to ban imports from its nuclear-armed neighbour for the rest of the year....

Wilhelmsen, Wallenius Lines merger creates Ro/Ro giant

Wallenius LinesIn a merger between equals, the joining of Wilhelmsen & Wallenius Lines has created a market setting ro-ro powerhouse....

EU world's leading exporter of pharmaceutical products

pharmaceutical productsIn 2016, the EU was by far the largest world trader in medicinal and pharmaceutical products, with total exports amounting to EUR 144 billion, and imports to EUR 75 billion....

$1 billion to be spend for Western Sydney roads

Western Sydney roadsTreasurer Dominic Perrottet, Minister for Roads, Maritime and Freight Melinda Pavey and Minister for Western Sydney Stuart Ayres said the investment includes $153 million for Western Sydney growth roads such as the Narellan Road upgrade and the second stage of the upgrade of Schofields Road....

Synaptics to acquire Conexant and Marvell unit for $436 million

SynapticsSynaptics Incorporated announced that it has signed a definitive agreement to acquire Conexant Systems, a voice and audio processing solutions for the smart home company....

New panda cub in Japan to attract millions of visitors, bring $242 million

Japan pandaA Japanese expert said that the giant panda cub born recently at a zoo in central Tokyo is expected to bring a 26.7 billion yen ($242 million) economic effect to the city, local media reported....

Mulberry FY profit and sales boosted by product launches

MulberryLuxury retailer Mulberry reported a rise in full-year sales and profit on Wednesday thanks to product launches and the online business....

UK employment reaches record high, consumer crunch intensifies

UK employmentAccording to the Office of National Statistics, the employment rate is at a joint record high of 74.8%, with 31.95 million people now in work – an increase of 372,000 on the year....

LG Display No.1 large panel supplier for 30th consecutive quarter

LG DisplayLG Display has maintained its No. 1 spot in shipments of large LCD and OLED panels for the 30th consecutive quarter....

Jabil Circuit Q3 earnings rise 79%

Jabil CircuitJabil Circuit announced a profit for its third quarter that rose from last year....

Peru exported 135.5% more garlic in the first quarter

garlic suppliesAccording to the Exporters Association (ADEX), in the first quarter of this year, Peruvian garlic exports amounted to $8,874,000, i.e. 135.5% more than in the same period last year....

Complaints against airlines jump 70 percent after United's incident

Complaints against airlinesThe same month that a viral video depicted a United Airlines passenger being dragged from his seat, complaints against airlines in the U.S. soared 70 percent....

Amazon to acquire Whole Foods Market in $13.7 billion deal

Whole Foods MarketAmazon will acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion, including Whole Foods Market’s net debt....

Walmart is acquiring Bonobos for $310 million

BonobosWalmart is acquiring Bonobos, the high-end men's retailer, for $310 million in cash....

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