RSS   Newsletter   Contact   Advertise with us

Highlights: March 6 - March 10, 2017

Staff Writer | March 13, 2017
The summary of the last week's business headlines and the most interesting stories.
Highlights
Week at a glance  
China introduces tough fishing ban along Yangtze River

Yangtze River fishA permanent fishing ban in all 279 aquatic reserves along the Yangtze River has begun, as China races to revive the flagging ecosystem of its largest river....

GM sold Opel to PSA Group in €2.2 billion transaction

PSA GMGeneral Motors and PSA Group announced an agreement under which GM’s Opel/Vauxhall subsidiary and GM Financial’s European operations will join the PSA Group in a transaction valuing these activities at €1.3bn and €0.9bn, respectively....

Standard Life and Aberdeen Asset Management agree £11 billion merger

Standard LifeStandard Life and Aberdeen Asset Management have agreed terms for an £11 billion merger, having revealed talks over the weekend....

Uniper to sell Siberian gas-field stake for $1.86bn

Yuzhno-RusskoyeUniper Exploration & Production, Düsseldorf has signed an agreement with Austrian oil and gas company OMV Exploration & Production for the sale of its interest in the Russian gas field Yuzhno-Russkoye....

Deutsche Bank seeks to raise $8.5 billion in capital

Deutsche BankDeutsche Bank is taking a decisive step forward to become stronger and grow again....

Saskatchewan top jurisdiction in world for mining investment

Saskatchewan miningThe top jurisdiction in the world for investment based on the Investment Attractiveness Index is Saskatchewan, which moved up to first from second place in 2015....

Russia replaces Saudi Arabia as world's largest supplier of crude oil

Russia oil fieldRussia has taken over from Saudi Arabia as the world’s largest supplier of crude oil, according to the Riyadh based Joint Organizations' Data Initiative....

Funds expect Saudi Aramco to be valued up to $1-1.5 trillion

Saudi AramcoFund managers and institutional investors expect Saudi Aramco to have a market capitalization of $1 trillion to $1.5 trillion when it sells shares to the public next year, a survey by EFG Hermes showed....

January semiconductor sales up 14 percent compared to last year

SemiconductorThe Semiconductor Industry Association (SIA) announced worldwide sales of semiconductors reached $30.6 billion for the month of January 2017....

CA Technologies to acquire Veracode for $614 million

CA TechnologiesA Technologies signed a definitive agreement to acquire software company for approximately $614 million in cash....

Thor Industries net income increased 45%

Thor IndustriesThor Industries announced record second-quarter net income of $64.8 million, or $1.23 per diluted share, on record revenues of $1.59 billion for the second quarter ended January 31, 2017....

Sterling Bancorp to buy Astoria Financial in $2.2 billion deal

Astoria FinancialSterling Bancorp will buy Astoria Financial Corp. in a stock deal valued at about $2.2 billion, to create a regional bank serving the New York City metropolitan area....

Santander, Intesa Sanpaolo to sell Allfunds Bank in 1.8bn euro deal

SantanderSantander and Intesa Sanpaolo will sell a joint 75 percent stake in mutual fund platform Allfunds Bank for around 1.37 billion euros ($1.45 billion) to funds GIC and Hellman & Friedman....

HPE to buy Nimble Storage for $1.09 billion

Hewlett Packard EnterpriseHewlett Packard Enterprise will buy data storage provider Nimble Storage for $1.09 billion in cash....

UK food inflation doubles in one month, says Kantar Worldpanel

UK foodBritish food inflation has doubled since last month, with the price of staples including butter, tea, lamb and fish all rising, industry data showed on Tuesday, adding to evidence that the impact of last year's Brexit vote is pushing up shoppers' bills....

Advanced energy is $200 billion U.S. industry

Advanced energyAdvanced Energy Economy (AEE) released the latest industry data that shows advanced energy is a $200 billion industry in the United States and $1.4 trillion worldwide....

Brookfield to take control of SunEdison units for $1.41 billion

TerraForm PowerBrookfield Asset Management will buy one of the two "yieldcos" of bankrupt U.S. solar company SunEdison and take a 51 percent stake in the other, for a total of about $1.41 billion....

First trade deficit in China since 2014

Shanghai portChina recorded a surprise trade deficit in February, its first since 2014, following a surge in imports after the Lunar New Year holiday and an unexpected drop in exports....

Suez buys GE Water in 3.2 billion euro deal

GE WaterFrench waste and water group Suez has boosted its industrial water treatment business with the 3.2 billion euros ($3.4 billion) acquisition of GE Water from General Electric (GE)....

Avocado brings more money to Mexico than oil export

AvocadoAccording to the Mexican Tariff Information System Via Internet (SIAVI) of the Ministry of Economy (SE), the export of oil and oil products in 2016 left Mexico with a deficit that amounted to 13,163,000,000 dollars....

Royal Dutch Shell to sell oil sands interests for $7.25bn

Royal Dutch ShellRoyal Dutch Shell is to sell its oil sands interests in Canada and reduce its share in the Athabasca oil sands project to 10% from 60% for a total of $7.25 billion....

GE in power plant deal with Caithness Energy, value could exceed $1bn

Caithness EnergyGE and Caithness Energy announced an exclusive agreement with the intent to pursue development of multiple new HA combined-cycle power plants in the United States....

U.S. decides anti-dumping duty on South Korean power transformer

Large power transformersThe U.S. government has decided to slap a higher than preliminarily set anti-dumping rate on large power transformers exported by a South Korean firm, the latest in a series of trade restrictions imposed on locally made goods under the Trump administration....

Marathon Oil to sell assets for $2.5 billion, buy for $1.1 billion

Marathon OilMarathon Oil announced it has signed an agreement to sell its Canadian subsidiary, which includes the company's 20 percent non-operated interest in the Athabasca Oil Sands Project (AOSP)....

$120 billion investment for India's Sagarmala marine program

Narendra ModiUnder India's Sagarmala Programme, 415 projects, at an estimated investment of approximately INR 8 Lac Crore ($120 billion), have been identified....


 

MORE INSIDE POST