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Highlights: June 26 - July 1, 2017

Staff Writer | July 3, 2017
The summary of the last week's business headlines and the most interesting stories.
Highlights
Week at a glance  
Takata files for bankruptcy, Key Safety Systems will buy it for $1.6bn

TakataTakata filed for bankruptcy protection in the United States and Japan, and said it would be bought for $1.6 billion by U.S.-based Key Safety Systems....

Martin Marietta to acquire Bluegrass Materials for $1.625 billion

Martin MariettaMartin Marietta Materials will acquire Bluegrass Materials Company for $1.625 billion in cash....

Safety inspections to construction sites in UK down by 14%

construction sites in UKIn 2015/16 there were 9,219 construction site inspections. In 2016/17, this reduced to 7,912....

Employment in France rises to greatest extent for almost 10 years

France PMI dataJune’s flash France PMI data pointed to a further improvement in private sector conditions in France....

Fish and shellfish farming contributes £620 million to Scotland’s economy

Fish and shellfishThe industry now supports more than 12,000 jobs, while production has increased by a third – from 142,000 to 188,000 tonnes – between 2006 and 2015....

Google slapped with record €2.4 billion fine by EU

GoogleThe European Commission has hit Google with a record €2.4bn fine for promoting its own shopping comparison service ahead of competitors....

Philips to buy Spectranetics for 1.9 billion euros

PhilipsPhilips has agreed to buy U.S.-based Spectranetics, a maker of devices to treat heart disease, for 1.9 billion euros ($2.16 billion) including debt, as it expands its image-guided therapy business....

KB Home bottom line advances 104% in Q2

KB HomeKB Home announced earnings for its second quarter that increased compared to the same period last year....

Not enthusiastic about Philippine anthem? You could pay $5,590

Philippine anthemThe Philippine House of Representatives has approved a bill making enthusiastic singing of the national anthem compulsory....

U.S. proposal: Mexican tomato prices will increase by up to 30%

Mexican tomatoIn addition to the avocado, one of Mexico's most important agricultural exports to the US are its tomatoes and if US President Donald Trump increases import taxes to that country, the fruit would have to increase its cost....

Shaw Communications Q3 profit more than doubles

Shaw CommunicationsShaw Communications reported profit from continuing operations for the third quarter that more than doubled from last year, primarily reflecting lower non-operating costs....

Sycamore to buy Staples for $6.9 billion

StaplesSycamore Partners will acquire the Staples in a transaction that values Staples at an equity value of approximately $6.9 billion....

DS Smith posts 31% jump in profit, buys 80% of Interstate Resources for $920m

DS SmithDS Smith reported a 31% rise in full-year pre-tax profit on Thursday as it announced the acquisition of an 80% stake in U.S. packaging and paper producer Interstate Resources from Merpas for $920m....

Iran trade with China up 41% to $15.2 billion

Iran-China tradeIran-China trade stood at $15.2 billion during the five months to May 21, 2017, registering a 41% increase compared to around $10.8 billion in the corresponding period of last year....

$3.8 billion contract signed at 3rd China-Israel Investment Summit

China-Israel InvestmentOn June 27 and 28, 2017, the 3rd China-Israel Investment Summit was held in Zhuhai, a city in southern China....

NIKE Q4 diluted EPS rose 22 percent

NIKENIKE reported fiscal 2017 financial results for its fourth quarter and full year ended May 31, 2017....

Micron Technology Q3 revenues record $5.57 billion

Micron TechnologyMicron Technology announced results of operations for its third quarter of fiscal 2017, which ended June 1, 2017....

Philippines chicken inventory down 42.65%

Philippines chickenFigures from the National Meat Inspection Service (NMIS) show the Philippines’ chicken inventory in June dropped by 42.65% to 10,906.6 tonnes from a year ago....

Last winter was bad for Swiss bee colonies

Switzerland beeBee colonies in Switzerland and Liechtenstein diminished by 30% over the winter, according to a survey of 1,000 Swiss beekeepers....

CIT to sell its European rail business

CIT GroupCIT Group announced that it reached a definitive agreement to sell NACCO, the European rail leasing business, to German-based VTG Aktiengesellschaft (VTG) for a purchase price of EUR 780 million ($890 million)....


 

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