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Highlights: June 17 - June 23, 2019

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Christian Fernsby |
Highlights
Business week in short  

The most interesting business stories that marked last week.

Amerisur Resources sells Colombia license stake to Occidental for $19.1 million

Amerisur ResourcesAmerisur Resources announced that it has entered into a conditional agreement with Occidental Andina to dispose of a 50% interest in the Put-8 exploration licence ("Put-8") in the Putumayo region of Colombia, for a cash consideration of US$ 19.1 million....

Iran increases pace of uranium enrichment 4 times says spokesman

Behrooz KamalvandiThe Atomic Energy Organization of Iran (AEOI) announced that Tehran has increased the speed of low-grade uranium enrichment four times since it announced it would stop complying with parts of nuke deal last month....

India tariff hike shows vulnerability of US trade strategy

port containersIndia has decided to impose long-awaited tariffs on 28 product groups after the US said it would roll back a duty-free imports scheme for approximately $6 billion worth of imports from India, ING said....

United States only developed country with no national paid leave policy for parents

Parental leaveBulgaria ranks third among the members of the Organisation of Economic Cooperation and Development (OECD) and the European Union in terms of the duration of parental leave at full pay, a UNICEF report says....

Patrick Drahi takes Sotheby's private in $3.7 billion deal

SothebysPatrick Drahi, the billionaire behind Altice, agreed to buy Sotheby’s in a deal worth $3.7 billion....

Deutsche Bank signs a 1 billion euro credit line for Angola

Angola streetDeutsche Bank, through the Structured Trade and Export Finance team, has arranged a 1 billion euro credit line to finance private investment projects in Angola....

Finland's Tieto to give £1.2 billion for Nordic peer Evry

Finland's TietoFinnish technology firm Tieto has agreed to pay 13.2 billion Norwegian crowns (£1.2 billion) in cash and shares for Norwegian competitor Evry....

Financial health expectations turn positive for first time since November 2018 in UK

UK housesThe headline index from the survey, the seasonally adjusted IHS Markit Household Finance Index (HFI)registered 43.8 in June, up from 42.8 in May but below the neutral 50.0 mark, thereby indicating negative perceptions towards current finances by UK households....

Volkswagen workers join other foreign companies in US and reject union

Volkswagen's plant in Chattanooga, TennesseeWorkers in Volkswagen AG's only factory in the U.S. have voted against forming a factory-wide union, dealing yet another blow to efforts by the United Auto Workers union to organize plants owned by foreign automakers....

Huawei overseas sales drop 40%

Ren ZhengfeiHuawei’s international are projected to fall 40% at the cost of $30 billion, according to its founder Ren Zhengfei, which corresponds to a fall in smartphone shipments of about 50 million devices....

EU Commission confirms: Chlorpropham can't be used for potatoes

potatoesA decision by the European Commission has shown that from 1st January 2020 the germ inhibitor and herbicide chlorpropham (chlorpropham) is no longer permitted....

American Airlines to buy 50 Airbus A321XLRs

American AirlinesAmerican Airlines will acquire 50 Airbus A321XLR aircraft, the new longer-range version of Airbus’ hugely successful A321neo....

Lundin makes two oil discoveries off Norway

LundinLundin has made two oil discoveries in exploration wells 16/1-31 S (Jorvik) and 16/1-31 A (Tellus East) on the eastern edge of the Edvard Grieg field in PL338 on the Utsira High off Norway....

U.S. sues to stop merger of two biggest printing companies

QuadThe Department of Justice filed a civil antitrust lawsuit seeking to block Quad/Graphics Inc.’s proposed acquisition of LSC Communications Inc. in order to preserve competition in the markets for magazine, catalog, and book printing services in the United States....

Writing fake reviews is new business model on Facebook and eBay

FacebookThe CMA has urged Facebook and eBay to act to stop the sale of fake reviews through their sites....

Sears: Sales down, gross margin down, operating loss increased

Sears HometownSears Hometown and Outlet Stores reported results for the first quarter ended May 4, 2019....

Why did American export of apples fell dramatically? The reason is simple

Apples royal galaNFO reports that the American export of apples this season was 25 percent lower than last season, the USDA (United States Department of Agriculture) estimates....

Thailand highway project requires extra $244 million

Thailand highwayAdditional financing is required to help progress work on Thailand’s Bang Yai-Kanchanaburi highway project....

US Cyber Command launched cyber strikes on Iran

United States Cyber CommandThe United States Cyber Command (USCC) had last week launched cyber strikes against an Iranian intelligence group in the wake of recent attacks on oil tankers in the Gulf region....

Carrefour confirms entry into Uganda

CarrefourFrench-based supermarket Carrefour is in the final stages of opening two stores in Kampala. ... â– 


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