#stayhome Maintain the distance, wash your hands, and follow instructions from the health authorities.
RSS   Newsletter   Contact   Advertise with us

Highlights: June 29 - July 4, 2015

Share on Twitter Share on LinkedIn
Staff writer ▼ | July 6, 2015
The summary of the last week's key headlines and the most interesting stories.
Highlights of the week
WEEK AT A GLANCE  
Coca-Cola, Airbus, Bharti, others invest $500 million in space telecom OneWeb

OneWebOneWeb, which is building a new global communications system to create affordable broadband services for all, has raised $500 million of funding from a group of leading international companies....

McLaren Automotive profit before tax up 233 percent

McLaren AutomotiveMcLaren Automotive generated an operating profit of £20.8 million (2013: £12.4 million, +68 percent) and a profit before tax of £15 million (2013: £4.5 million +233 percent)....

GE to sell majority of its fleet business for $6.9 billion

Element FinancialGE has reached an agreement to sell its U.S., Mexico, Australia and New Zealand fleet businesses to Element Financial Corporation for $6.9 billion....

Major $2 billion boost to Russia's space industry

Vostochny CosmodromeRussia's new Vostochny Cosmodrome has booked its first high-profile commercial satellite launches as part of a contract worth more than $1 billion between Russian space agency Roscosmos and French and British space companies....

Taxi-hailing app Didi-Kuaidi raising $1.5 billion

Didi-KuaidiChina's biggest taxi-hailing app Didi-Kuaidi is seeking more than $1.5 billion of investment from banks and venture capital funds, said CEO of the company Cheng Wei in a letter to shareholders....

China Jo-Jo Drugstores Q4 revenue increased 30.1%

China Jo-Jo DrugstoresChina Jo-Jo Drugstores announced financial results for the fourth quarter and fiscal year ended March 31, 2015. Q4 revenue increased 30.1% to $20,982,649 ended March 31, 2015 as compared to $16,129,575 during the same period last year....

Global alternative assets to reach $15.3 trillion in 2020

Global alternative assetsA report just published by PwC predicts global alternative assets will increase to $15.3 trillion by 2020....

Microsoft to cut 1,200 jobs when AOL takes ads business

MicrosoftAOL and Microsoft announced a global, enterprise-level partnership where AOL will assume management and sales responsibility for all of Microsoft's display, mobile and video advertising inventory in nine key global markets....

Wendel buys AlliedBarton Security Services for $1.67 billion

AlliedBartonWendel, a global investment firm, has agreed to acquire AlliedBarton Security Services, one of the largest security officer services companies in the United States, from funds managed by Blackstone for approximately $1.67 billion....

New York's Medicaid spending at the lowest level in 13 years

New York MedicaidNew York's Medicaid spending per person dropped to a 13 year low over the past 12 months. This significant spending decrease, which has resulted in billions of dollars of savings for taxpayers, says Governor Andrew M. Cuomo, can be attributed to the reforms by his Medicaid Redesign Team....

InterBulk Group profit before tax increased 174%

InterBulk GroupInterBulk Group plc announces its unaudited interim results for the six months ended March 31, 2015. Profit before tax (before intangible amortisation and exceptional items) increased 174% from £0.7m to £2m....

EU puts forward record €13.1 billion investment in transport infrastructure

EU transportThe European Commission unveiled a record €13.1 billion investment plan in 276 transport projects, selected under the Connecting Europe Facility (CEF)....

CF Industries Holdings to buy remaining stake in GrowHow UK for $580 million

CF Industries HoldingsCF Industries Holdings will acquire the remaining stake in GrowHow UK, making the British fertilizer company its wholly owned subsidiary....

Deutsche Bahn and GDL union agree wage deal to end 420 hours of strikes

Deutsche BahnDeutsche Bahn has reached a wage agreement with the GDL train drivers' union, ending a nearly year-long dispute, both sides said....

OSI China loses $970 million over meat scandal

OSI China HoldingOSI China Holding lost nearly 6 billion yuan ($970 million) following a food scandal in China last year, the company said....

Kraft Foods shareholders voted for merger with Heinz

Kraft FoodsKraft Foods Group shareholders voted to approve the merger agreement providing for the creation of The Kraft Heinz Company....

JBS to buy Cargill's U.S. pork business for $1.45 billion

CargillJBS SA, the world's largest meat packer, is buying Cargill's U.S. pork business for $1.45 billion, free of debt....

AZZ Incorporated Q1 2016 net income increased 33.5%

AZZ IncorporatedAZZ Incorporated announced financial results for the first quarter of 2016 ended May 31, 2015. Revenues were $228.9 million compared to $216.1 million for the same quarter last year, an increase of 5.9%....

PayPal to acquire Xoom for $890 million

eBayPayPal will acquire Corporation for $25 per share in cash or an approximate $890 million enterprise value, a premium of 32% over Xoom’s three-month volume-weighted average price....

Revenue of South Korean big companies saw largest fall in 12 years

South Korea factoryRevenue among South Korean big companies posted the largest quarterly decline in 12 years due to sluggish exports and cheaper oil, central bank data showed....

Amadeus to buy Navitaire from Accenture for $830 million

NavitaireSpanish travel technology company Amadeus said it would buy Navitaire, a subsidiary of Accenture Plc, for $830 million, to focus mainly on digital services for airline passengers....

BBC to become 'simpler', cut more than 1,000 jobs

Tony HallBBC director general Tony Hall announced changes to the structure and organisation of the BBC that will make it simpler, leaner and more effective for the future....

BP to settle Deepwater Horizon claims with $18.7 billion over 18 years

Deepwater HorizonFive years on from the Deepwater Horizon accident and spill in 2010, BP has reached agreements in principle to settle all federal and state claims arising from the event....

Tourism brought more than $100 billion to New York State

New York State tourismThe total economic impact of New York State’s tourism industry in 2014 reached an all-time high of $100.1 billion....

Aetna to buy Humana for $37 billion

AetnaAetna will acquire all outstanding shares of Humana for a combination of cash and stock valued at $37 billion or approximately $230 per Humana share based on the closing price of Aetna common shares on July 2, 2015....

Centene Corporation and Health Net to merge in $6.8 billion deal

Centene CorporationBoards of Centene Corporation and Health Net approved a definitive agreement under which Centene will acquire all of the shares of Health Net in a cash and stock transaction valued at approximately $6.8 billion....

World's biggest automotive interiors supplier begins operations

Yanfeng Automotive InteriorsYanfeng Automotive Interiors, a joint venture between Yanfeng Automotive Trim Systems, a wholly owned subsidiary of Huayu Automotive Systems (HASCO), which is the component group of Shanghai Automotive Industry Corporation (SAIC) and Johnson Controls, officialy started with operations....

Myanmar to receive $400 million from World Bank for rural communities

MyanmarMyanmar will receive an additional $400 million financial support from the World Bank Group for poor rural communities in the country....

China's bourses set for IPOs of $48 billion

Shanghai stockThe Shanghai and Shenzhen stock markets are set to raise 300 billion yuan ($48 billion) via initial public offerings this year after they led the global IPO market in the first half, PricewaterhouseCoopers predicted....

Tesla deliveries surge by 52% to record in Q2

Tesla MotorsTesla Motors Inc. said it delivered 11,507 Model S sedans in the second quarter of the year, a 52% increase over the prior-year period and a company record....

Tunisia's olive oil exports break record with $763.7 million

Tunisia olive oilTunisia posted record-breaking olive oil exports in the 2014/2015 crop, with revenues of 1.5 TND million ($763.7 million) up until June, the Ministry of Industry, Energy and Mines said....

Sky shining among UK telecoms, EE to pay one million pounds fine

EE telecomOfcom, the communications regulator in the UK, published data on the volumes of consumer complaints made to Ofcom against the major providers of telecoms and pay TV services....

Iran to create 100,000 new jobs in IT and ICT fields

Eshaq JahangiriIran’s First Vice-President Eshaq Jahangiri promised a flourishing prospect in IT and ICT job market due to coming developments....


 

MORE INSIDE POST