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Highlights: June 15 - June 20, 2015

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Staff writer ▼ | June 22, 2015
Highlights of the week

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

EU to pump 161 million euros into Ghana's economy
Monday June 15, 2015 3:50AM
William HannaThe European Union is to release EUR 161.38 million of budget support to the Government of Ghana in the coming weeks....

Petrobras reaches record-breaking pre-salt production
Monday June 15, 2015 6:45AM
PetrobrasOil production in the pre-salt layer broke two records in May, according to a statement by Petrobras....

Hudson's Bay to buy Galeria Kaufhof from Metro for 2.825 billion euros
Monday June 15, 2015 7:50AM
KaufhofHudson's Bay Company (HBC) and Metro Group have entered into a definitive agreement under which HBC will acquire Metro's department store group Galeria Kaufhof and its Belgian subsidiary Inno for a transaction value of 2.825 billion euros....

Cairn India to merge with Vedanta in $2.3-billion deal
Monday June 15, 2015 8:58AM
VedantaMining and energy group Vedanta Ltd made a $2.3 billion (Rs 14,720 crore) offer on Sunday to buy out minority shareholders in cash-rich oil unit Cairn India, a deal that helps parent Vedanta Resources Plc repay hefty debts....

CVS Health to buy Target’s pharmacy and clinic businesses for $1.9bn
Monday June 15, 2015 1:20PM
Target pharmacyCVS Health and Target have entered into a definitive agreement for CVS Health to acquire Target’s pharmacy and clinic businesses for approximately $1.9 billion....

Cox Automotive to buy Dealertrack in $4 billion deal
Monday June 15, 2015 1:32PM
Cox AutomotiveCox Automotive, owner of the Autotrader online automobile market and Kelley Blue Book car valuation service, said it wil buy Dealertrack Technologies in a deal valued at $4 billion....

Chinese taxi-app Didi Kuaidi raises $1.5bn, valuation $15 billion
Monday June 15, 2015 1:50PM
Didi KuaidiDidi Kuaidi, operator of China's dominant taxi-hailing app, said it raised $1.5 billion in its latest round of funding, valuing the company at $12 billion-$15 billion....

RF Industries Q2 sales increased 40%
Tuesday June 16, 2015 3:32AM
RF IndustriesRF Industries announced results for the fiscal 2015 second quarter ended April 30, 2015. Sales increased 40%, or $2.3 million, to $8.1 million compared to $5.8 million in the same quarter last year....

Statoil to cut 1,500 permanent jobs, 525 consultants
Tuesday June 16, 2015 6:32AM
StatoilThe effort to standardise, simplify and increase efficiency across Statoil enters the next phase. The potential workforce reduction is estimated at 1,100 – 1,500 permanent employees by end 2016....

Ashtead Group pretax profit increased 32%
Tuesday June 16, 2015 6:50AM
Ashtead GroupAshtead Group reported a 32% increase in pretax profit for the year through April and said it continued to trade strongly in May....

Extra Space Storage to buy SmartStop Self Storage in $1.4 billion deal
Tuesday June 16, 2015 8:50AM
SmartStop Self StorageExtra Space Storage has entered into a definitive agreement to acquire SmartStop Self Storage, a public, non-traded real estate investment trust (REIT)....

U.S. gives green light to Shell to buy BG Group in $70bm deal
Tuesday June 16, 2015 2:15PM
ShellU.S. regulators have given the green light for Royal Dutch Shell's proposed $70 billion acquisition of British rival BG Group, the first clearance for the biggest deal in the energy sector in over a decade....

Nestle to destroy $50 million worth of Maggi noodles
Tuesday June 16, 2015 5:00PM
Maggi noodlesNestle it will destroy more than $50 miilion worth of Maggi noodles, following a ban imposed by India's food safety regulator....

Philippines, Germany Q1 trade up 38.1 percent
Wednesday June 17, 2015 4:10AM
Philippine workerThe trade between the Philippines and Germany in the first quarter registered a record- high of 38.1 percent increase to $1.57 billion, according to the German-Philippine Chamber of Commerce and Industry (GPPCI)....

Food trucks generate $650 million every year
Wednesday June 17, 2015 9:32AM
Food trucksAccording to the National Restaurant Association, food trucks generate $650 million in annual revenue. By the year 2017, it's expected to be a $2.7 billion national industry....

Remy Cointreau net profit was up 49%
Wednesday June 17, 2015 9:58AM
Remy CointreauFrench cognac maker Remy Cointreau said that fiscal full-year net profit jumped by half, lifted by higher prices and lower administrative costs....

Allergan to buy Kythera Biopharmaceuticals for $2.1 billion
Wednesday June 17, 2015 1:52PM
AllerganAllergan said it will buy Kythera Biopharmaceuticals in a cash-and-stock deal valued at about $2.1 billion, to expand its line of cosmetic treatments....

Hill-Rom to buy Welch Allyn in $2.1 billion deal
Wednesday June 17, 2015 2:10PM
Hill-Rom HoldingsHill-Rom Holdings said it has agreed to buy privately-held Welch Allyn in a cash and stock deal valued at about $2.1 billion....

AT&T Mobility to pay $100 million for misleading unlimited data plans
Wednesday June 17, 2015 3:15PM
AT&T MobilityThe Federal Communications Commission (FCC) plans to fine AT&T Mobility $100 million for misleading its customers about unlimited mobile data plans....

DAVIDsTEA sales increased 29%
Thursday June 18, 2015 5:50AM
DAVIDsTEADAVIDsTEA announced financial results for the thirteen weeks ended May 2, 2015. Sales increased by 29% to C$35.8 million from C$27.8 million in Q1 2014. Comparable sales increased 6.3%....

Cisco and China together in $10 billion deal
Thursday June 18, 2015 8:45AM
CiscoCisco and its Chinese partners announced a range of initiatives for the Chinese market that will support local innovation, help with the country’s ongoing transformation, and support the growth of local businesses....

Jabil Circuit Q3 net revenue 15 percent better
Thursday June 18, 2015 9:22AM
Jabil CircuitJabil Circuit reported preliminary, unaudited financial results for its third quarter of fiscal year 2015. Net revenue was $4.4 billion, a 15 percent increase from the third quarter of fiscal year 2014....

XIO Group to buy Lumenis for $510 million
Thursday June 18, 2015 1:22PM
LumenisHealthcare company Lumenis has signed a definitive agreement to be acquired by XIO Group for $14 per share in cash, for an aggregate purchase price of approximately $510 million....

Q1 foreign direct investments in Albania rise by 53 percent
Friday June 19, 2015 4:10AM
Albania TiranaAlbania witnesses a strong inflow of foreign direct investments (FDI) in the first quarter of 2015, which amounts to more 258 million euros ($289 million), or a 53 percent increase when compared to same period in 2014....

PSEG Power buys 755-MW Keys Energy Center, 900 jobs to be created
Friday June 19, 2015 4:28AM
PSEG PowerPSEG Power, through its wholly-owned subsidiary PSEG Fossil, has acquired the 755-MW Keys Energy Center project from Genesis Power and Ares EIF Management....

Fidelity wants Colt in $2.73 billion deal, Colt wants more
Friday June 19, 2015 6:05AM
Colt Group SAFidelity, the largest shareholder of telecoms provider Colt Group SA, offered to buy out minority shareholders in an all-cash transaction that values Colt at about 1.72 billion pounds ($2.73 billion)....

Morocco's trade deficit reduced 25%
Friday June 19, 2015 6:32AM
Morocco tradeMorocco recorded a trade deficit of MAD 63.21 billion ($6.5 billion) in the first five months of this year, a decline of 25.3% over the same period of 2014, according to the country’s Foreign Exchange Office....

Hershey to cut 300 jobs, lowers 2015 revenue outlook
Friday June 19, 2015 4:28PM
HersheyThe Hershey Company has updated its financial outlook for 2015. North America confectionery business is on track to deliver on its 2015 financial objectives and in China, chocolate growth was below expectations in April and May....

North Korea hit by worst drought in 100 years
Saturday June 20, 2015 5:58AM
Kim Jong-unNorth Korea is suffering from the worst drought in a century, which has caused huge damage to its agricultural production, the country's official news agency KCNA....

Car Charging Group revenue for EV charging services rose by 913%
Saturday June 20, 2015 8:15AM
Car Charging GroupCar Charging Group announced its financial results for the third quarter and three months ended September, 2014....

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