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Highlights: May 3 - May 9, 2015

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Staff writer ▼ | May 11, 2015
The summary of the last week's key headlines and the most interesting stories.
Highlights of the week
WEEK AT A GLANCE  
Anbang Insurance Group profit 34 times higher
Monday May 4, 2015 2:30AM
Anbang Insurance GroupAnbang Insurance Group, the Chinese insurer known for its purchase of New York's Waldorf Astoria hotel, has reported explosive profit growth for 2014....

Putin signs BRICS $100 billion currency pool deal
Monday May 4, 2015 3:50AM
BRICSRussian President Vladimir Putin has ratified a deal to establish a $100 billion foreign currency reserve pool for the BRICS group....

AV Homes saw 162% increase in net new orders
Monday May 4, 2015 8:10AM
AV HomesAV Homes announced results for its first quarter ended March 31, 2015. Net loss was $5 million, or $0.23 per share, compared to a net loss of $1.9 million, or $0.09 per share, in Q1 2014....

US fines BNP Paribas with $9 billion for trading with Cuba, Iran & Sudan
Monday May 4, 2015 1:24PM
BNP ParibasBNP Paribas S.A. was fined for conspiring to violate the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA) by processing billions of dollars on behalf of Sudanese, Iranian and Cuban entities subject to U.S. economic sanctions....

Fosun offers $1.8 billion for 80 percent of Ironshore
Tuesday May 5, 2015 2:28AM
Fosun InternationalFosun International of China had offered to buy the 80 percent it does not already own in U.S. insurer Ironshore for $1.8 billion....

Worldwide sales of semiconductors reached $83.1 billion
Tuesday May 5, 2015 2:55AM
SemiconductorsThe Semiconductor Industry Association (SIA) announced worldwide sales of semiconductors reached $83.1 billion during the first quarter of 2015....

Loews Corporation Q1 net income jumped from $59 million to $109 million
Tuesday May 5, 2015 9:27AM
Loews CorporationLoews Corporation reported net income for the first quarter ended March 31, 2015 of $109 million, or $0.29 per share, compared to $59 million, or $0.15 per share, in the prior year period....

GTCR closes Fundtech sale for $1.25 billion
Tuesday May 5, 2015 10:00AM
FundtechGTCR, a private equity firm, has completed the previously announced sale of its portfolio company, Fundtech, to DH Corporation for approximately $1.25 billion in cash....

Teva completes $3.5 billion acquisition of Auspex Pharmaceuticals
Wednesday May 6, 2015 3:16AM
Auspex PharmaceuticalsTeva Pharma announced that the acquisition of Auspex Pharmaceuticals as been completed through the successful tender offer for all of the outstanding shares of common stock of Auspex at $101 per share in cash....

Vietnam, RoK sign FTA, want $70 billion in trade
Wednesday May 6, 2015 3:50AM
Vietnam RoKVietnam and the Republic of Korea (RoK) have officially signed a free trade agreement (FTA) after over two years of negotiations....

Mondelez, D.E Master Blenders have green EU light to create coffee giant
Wednesday May 6, 2015 4:52AM
D.E Master BlendersThe European Commission has approved a joint venture between Mondelez International and D.E Master Blenders to create the world's biggest standalone coffee company but they must sell some businesses first....

Lehman Brothers' UK pension scheme, Rothesay Life agree $1 billion deal
Wednesday May 6, 2015 5:12AM
Lehman BrothersThe British pension scheme of Lehman Brothers has agreed a 675 million pound ($1 billion) "bulk annuity" deal to transfer the risk of the scheme to pensions insurer Rothesay Life, companies said....

Potato prices in South Korea increased 122 percent
Wednesday May 6, 2015 5:22AM
Korea potatoPotato prices in South Korea more than doubled in April from a year earlier amid the continued popularity of honey-flavored potato chips among local consumers, industry data showed....

Monday Properties sells Helmsley Building for $1.2 billion
Wednesday May 6, 2015 5:35AM
Helmsley BuildingMonday Properties said it has completed the sale of the Helmsley Building near New York City's Grand Central Terminal for $1.2 billion to RXR Reality....

Australia's iiNet accepts $1.2 billion takeover from TPG Telecom
Wednesday May 6, 2015 6:25AM
iiNetAustralian Internet provider iiNet accepted a takeover proposal worth A$1.56 billion ($1.2 billion) from TPG Telecom, sidelining rival bidder M2 Group and paving the road to become the industry's second largest firm....

J Sainsbury sees first drop in profit in ten years
Wednesday May 6, 2015 6:36AM
J SainsburyJ Sainsbury reported its first drop in full-year underlying profit in ten years. Group sales, excluding value added tax, were down 0.7% in the 52 weeks ended March 14 to £23.78 billion ($36.12 billion)....

EU can't get info on tax avoiding by Apple, Starbucks, McDonald's
Wednesday May 6, 2015 6:58AM
Margrethe VestagerEU regulators will miss a June deadline to decide whether tax deals granted by individual member states to big multinational companies are legal because they lack some data, the EU's antitrust chief said....

Skansa order bookings down 14%
Wednesday May 6, 2015 7:47AM
SkansaSkansa reported its results for January-March 2015 compared to January-March 2014. Order bookings in Construction amounted to SEK 30.2 billion (31)....

Alexion Pharmaceuticals to buy Synageva BioPharma for $8.4 billion
Wednesday May 6, 2015 8:23AM
Synageva BioPharmaAlexion Pharmaceuticals said it would buy Synageva BioPharma for $8.4 billion. The cash-and-stock offer values Synageva at $225.92 per share and that is more than double of the closing price of $95.87 on Tuesday....

US trade deficit jumps to 6-year high of $51.4 billion
Wednesday May 6, 2015 8:45AM
US trade deficitUS trade deficit swells to 6-year high of $51.4 billion in March, reflecting flood of imports....

Net income available to News Corp stockholders cut in half
Wednesday May 6, 2015 8:58AM
News CorporationNews Corporation reported financial results for the three months ended March 31, 2015. The company reported Q3 2015 revenues of $2.06 billion, a 1% decline as compared to prior year third quarter revenues of $2.08 billion....

Kellogg: Q1 operating profit down 37.5%, we expected bigger fall
Wednesday May 6, 2015 9:25AM
KelloggKellogg Company said currency-neutral comparable first-quarter results for net sales, operating profit, and earnings per share that were greater than the company's expectations....

Panera Bread to remove 150 ingredients from menus
Wednesday May 6, 2015 3:58PM
Panera BreadPanera Bread made a list of artificial colors, flavors, sweeteners and preservatives that it has eliminated or intends to remove from its U.S. Panera Bread and St. Louis Bread Co. bakery-cafe food menus by the end of 2016....

Patterson Companies to buy Animal Health Intl for $1.1 billion
Thursday May 7, 2015 2:32AM
Animal Health IntlPatterson Companies announced a definitive agreement to acquire Animal Health International, an animal health company, to more than double the size of Patterson's veterinary business....

Alstom swings to loss of 719 million euros
Thursday May 7, 2015 3:32AM
AlstomBetween April 1, 2014 and March 31, 2015, Alstom booked a record €10 billion of orders, up by more than 60% as compared to last year....

CNR and CSR started merger, will create the biggest rail conglomerate
Thursday May 7, 2015 9:58AM
CNRChinese train makers China CNR Corp and CSR Corp halted trading of their shares. This is the first step in a merger process expected to create the world's biggest rail conglomerate in terms of sales....

Syngenta rejects $45 billion Monsanto takeover offer
Friday May 8, 2015 4:39AM
SyngentaSyngenta rejected a $45 billion takeover offer from Monsanto, saying the offer undervalued the Swiss firm and did not fully take into account regulatory risks....

Hutchison to sell one-third stake in UK mobile business for $4.3 billion
Friday May 8, 2015 4:58AM
HutchisonHutchison Whampoa plans to sell a one-third stake in its British mobile phone business for $4.3 billion to five investors....

FAO predicts world food import bill to fall to five-year low
Friday May 8, 2015 6:32AM
FoodInternational prices for agricultural commodities continued to decline in April and abundant inventories are poised to offset any pressure from the slight reduction in global harvests expected this year....

Alibaba Group revenue increased by 45%
Friday May 8, 2015 7:15AM
AlibabaAlibaba Group Holding announced its financial results for the quarter ended March 31, 2015 and the fiscal year then ended. Revenue increased by 45% to RMB17,425 million ($2,811 million), compared to RMB12,031 million in the same quarter of 2014....

Denmark to invest $1.5 billion to save agriculture sector
Friday May 8, 2015 7:30AM
Denmark farmingThe Danish government has decided to collect up to 10 billion kroner ($1.5 billion) to help save the severely indebted agriculture sector....

Everwin Precision goes all-robots, will cut 90 percent of workers
Friday May 8, 2015 9:10AM
Guangdong EverwinMore than 100 industrial robots have been installed at a zero-labor factory that is being built in Dongguan, a major manufacturing base in Guangdong province....

Always-on inactive devices devour $19 billion annually
Friday May 8, 2015 10:00AM
Always-onApproximately $19 billion worth of electricity is devoured annually by U.S. household electronics, appliances, and other equipment when consumers are not actively using them....

Bojangles goes public to become $1 billion company
Friday May 8, 2015 2:14PM
BojanglesShares of Bojangles rose as much as 47 percent in their debut, valuing the restaurant chain at nearly $1 billion....

About 14% of workers left Zappos after 'no boss' directive
Saturday May 9, 2015 5:38AM
ZapposAfter Zappos came up with a new and unusual "no boss" management structure, Holacracy, some 14% of the workforce decided to take a three months' severance and left the company that promotes no strict leadership structure....

Toyota Motor net income jumped 19.2 percent
Saturday May 9, 2015 8:45AM
Toyota MotorToyota Motor Corporation (TMC) announced fiscal year 2015 financial results. Global net income jumped 19.2 percent during the 2015 fiscal year that ended March 31, 2015....


 

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