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Highlights: May 2 - May 6, 2017

Staff Writer | May 8, 2017
The summary of the last week's business headlines and the most interesting stories.
Highlights
Week at a glance  
South Korean banks post biggest quarterly profit in 6 years

South Korea central bankSouth Korean banks posted the biggest quarterly profit in six years thanks to a one-off factor, financial watchdog data showed....

HICL buying a third of Affinity Water for £270m

Affinity WaterHICL Infrastructure Company announced that it had reached agreement to acquire a 36.6% equity interest in the various entities that comprise the Affinity Water Group, including the regulated entity, Affinity Water Limited....

Infosys of India to hire 10,000 local workers in U.S.

InfosysIndia's second biggest outsourcer Infosys said that it would hire some 10,000 American workers over the next two years in the United States....

Pembina and Veresen to create giant energy company in $9.7 billion deal

Pembina Pipeline CorporationPembina Pipeline Corporation and Veresen announced they have entered into an arrangement agreement to create one of the largest energy infrastructure companies in Canada with a pro-forma enterprise value of approximately $33 billion....

ConocoPhillips Q1 net income $777 million

ConocoPhillipsConocoPhillips reported a turnaround to profit in the first quarter, reflecting a tax accounting benefit and higher crude oil prices....

Noble Energy to sell upstream Appalachia natural gas assets for $1.23bn

Noble EnergyNoble Energy announced that it has signed a definitive agreement to divest all of its upstream assets in northern West Virginia and southern Pennsylvania to an undisclosed buyer for a total amount of $1.225 billion....

First Solar reveals 87% retreat in Q1 bottom line

First SolarFirst Solar reported a profit for first quarter that decreased compared to the same period last year....

PG&E Q1 earnings rise 34%

PG&EPG&E announced a profit for its first quarter that rose from last year....

SNC-Lavalin offers to buy WS Atkins for $2.6 billion

SNC-LavalinSNC-Lavalin Group offered to buy WS Atkins for about 2.1 billion pounds ($2.6 billion), the British engineering and consultancy firm said....

Volkswagen Q1 profit up 43.9%

VolkswagenVolkswagen Group reported that its profit after tax for the first quarter was 3.40 billion euros, up 43.9 percent from 2.37 billion euros in the prior year....

Profit of Embraer tumbles 65 percent in first quarter

EmbraerIn Q1 2017, Embraer delivered 18 commercial and 15 executive (11 light and 4 large) jets, representing a decline from the 21 commercial and 23 executive (12 light and 11 large) jet deliveries in Q1 2016....

Estée Lauder bottom line advances 24% in Q3

Estée LauderThe Estée Lauder Companies announced earnings for its third quarter that increased from last year....

Humana announces 32% advance in Q1 profit

HumanaHumana revealed a profit for its first quarter that gained ground from last year....

Kulicke & Soffa Industries profit advances 471% in Q2

Kulicke & SoffaKulicke & Soffa Industries announced earnings for its second quarter that gained ground from last year....

Pennant secures 11-fold increase in value of Lockheed Martin contract

PennantPennant International Group said it has secured a GBP2 million contract extension from aerospace, defence, security and advanced technologies giant Lockheed Martin Corp....

Shell Q1 income jumped more than sixfold

Royal Dutch ShellRoyal Dutch Shell's net income rose across almost all its main units at the start of the year thanks to the rebound in oil prices, with the company touting how its cash dividend was fully covered for a third consecutive quarter....

Rio Tinto aiming for $5bn of free cash flow in productivity

Rio TintoRio Tinto is aiming to deliver $5bn of free cash flow via productivity improvements over five years....

Inmarsat Q1 profit decreased from $58.5 million to $0.6 million

InmarsatInmarsat reported that its first-quarter profit before tax plunged to $0.6 million from last year's $58.5 million....

BMW Group Q1 net profit rose 31%

BMW GroupBMW Group reported that its group net profit for the first quarter rose 31% to 2.149 billion euros from last year's 1.641 billion euros....

Eurozone private sector growth at 6-year high

Eurozone private sectorThe Eurozone private sector expanded at the fastest pace in six years in April, survey data from IHS Markit showed Thursday....

Viacom Q2 operating income decreased 43%

ViacomViacom reported financial results for the second quarter of fiscal 2017 ended March 31, 2017....

CIBC sweetens offer for PrivateBancorp with more cash in $4.9bn deal

CIBCCanadian Imperial Bank of Commerce (CIBC) increased the cash element of its offer for Chicago-based PrivateBancorp in a final $4.9 billion bid to push the deal through ahead of a May 12 shareholder vote....

First Horizon to buy Capital Bank for $2.2bn, reach $40bn in assets

First Horizon NationalFirst Horizon National Corporation said it would buy fellow regional bank Capital Bank Financial Corporation for $2.2 billion to boost its presence in the fast-growing U.S. southeast market....

Kayne Anderson Real Estate to buy Sentio Healthcare in $825m deal

Sentio HealthcareKayne Anderson Capital Advisors's real estate private equity arm said it would buy healthcare real estate investment trust Sentio Healthcare Properties in an $825 million deal....

Moody's Q1 income rises 55%

Moody'sMoody's Corp. released earnings for its first quarter that rose from last year....

Vestas Wind Q1 profit jumps from 35 million euros to 160 million euros

Vestas WindVestas Wind Systems reported that its first-quarter profit surged to 160 million euros from 35 million euros last year....

Louisiana Pacific profit rises 434% in Q1

Louisiana PacificLouisiana Pacific evealed earnings for its first quarter that climbed from last year....

After 57 years Gander Mountain will close all stores after bankruptcy

Gander MountainGander Mountain is going out of business and closing all 126 of their locations nationwide....

ChemChina clinches landmark $43bn takeover of Syngenta

SyngentaChemChina has won more than enough support from Syngenta shareholders to clinch its $43bn takeover of the Swiss pesticides and seeds group, the two companies saidy....


 

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