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Highlights: October 17 - October 23, 2016

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Staff Writer | October 24, 2016
The summary of the last week's key headlines and the most interesting stories.
Highlights
WEEK AT A GLANCE  
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Sharp expands in new markets with hair growth technology

SharpSharp Corp. says that its Plasmacluster ion technology, designed to disinfect and deodorize air, is also effective in promoting hair growth....

Rosneft and partners buy Essar Oil for $13 billion

Essar OilRosneft and its partners today took over India's second biggest private oil firm Essar Oil in an all-cash deal valued at about $13 billion....

Hydro One to operate 98% of Ontario's transmission grid

Hydro OneHydro One said that the Ontario Energy Board has approved its application for the acquisition of Great Lakes Power Transmission....

Supervalu to sell Save-A-Lot to Onex for $1.37 billion

SupervaluSupervalu will sell its Save-A-Lot business to Canadian private equity firm Onex for $1.37 billionn....

Chinese luxury spending to hit $120bn in 2016

Chinese luxuryChinese luxury spending is expected to reach $120.4 billion in 2016, up 3 percent year on year....

COSCO acquires 40% stake in Italy's Vado

COSCOChina's COSCO Shipping Ports said that its subsidiary has acquired a 40-percent stake in Italy's Vado Holding from Maersk Group's APM Terminal for 53 million euros ($58.3 million)....

Goldman doesn't Sachs: Q3 EPS way better than forecast

Goldman SachsThe Goldman Sachs Group reported net revenues of $8.17 billion and net earnings of $2.09 billion for the third quarter ended September 30, 2016....

Surprise: UK inflation hits highest rate in nearly two years

UK inflationUK inflation in September rose unexpectedly strongly to hit its highest level in 22 months, according to the Office for National Statistics (ONS)....

China sees continued increased in new firms

China workersThe number of newly founded companies in China continued to surge in the first three quarters on government efforts to streamline the process for starting businesses....

Abbott, St. Jude to sell some product to Terumo for $1.12 billion

St. Jude MedicalAbbott and St. Jude Medical announced an agreement in principle to sell certain products to Terumo Corporation....

SM Energy to buy acres in Midland Basin for $1.1bn plus shares

SM EnergySM Energy has entered into a definitive purchase agreement to acquire 35,700 net acres in Howard and Martin Counties in West Texas....

$55 million for New York’s attractions, tourism

New York tourismGovernor Andrew M. Cuomo hosted the New York State Tourism and Craft Beverage Summit, where leaders in the tourism and craft beverage industries met with state officials to explore new industry opportunities....

Number of New York farm cideries have tripled

Farm Cideries LegislationThe number of farm cideries operating manufacturing facilities in New York State has tripled, growing from 8 in October 2014 to 24 today....

One in three unemployed in South Korea have bachelor's degrees

South Korea surplusOne out of three unemployed people in South Korea were college graduates as of the third quarter of this year....

Hyundai recalls more than 84,000 cars

Genesis CoupesHyundai has announced a voluntary recall of more than 84,000 cars in the U.S. to fix a wiring issue that could cause the front passenger air bag to malfunction....

Supervalu to sell Save-A-Lot for $1.365 billion

Save-A-LotSupervalu has entered into a definitive agreement whereby an affiliate of Onex Corporation will acquire Supervalu’s Save-A-Lot business for $1.365 billion in cash, subject to customary closing adjustments....

Naftogaz will demand $2.6bn from Russia for stolen assets in Crimea

Naftogaz UkrainyNaftogaz Ukrainy and its six subsidiaries initiated arbitration proceedings against the Russian Federation....

Fiat Chrysler recalling cars, they may catch fire

RamFiat Chrysler Automobiles (FCA) is recalling about 74,833 vehicles in the United States to replace the alternators because of a problem that could result in engine stall or a vehicle fire....

Healthcare IT market to reach $297 billion by 2022

Healthcare ITThe world market for Healthcare IT solutions & services was $125 billion in 2015 and is projected to reach $297 billion by 2022, registering a CAGR of 13.2% from 2016 to 2022....

New jobs for new industrial robots

Industrial robotsIn 2005 there were less than one million of industrial robots. Today there are 1.8 million. And in three years’ time, this will soar to around 2.6 million....

Wipro to acquire Appirio in $500 million deal

WiproWipro has signed a definitive agreement to acquire Appirio, a global cloud services company that creates next generation worker and customer experiences, for a purchase consideration of $500 million....

BAT offers to buy U.S. tobacco firm Reynolds in $47 billion deal

BATBritish American Tobacco (BAT) has offered to buy U.S. tobacco company Reynolds American in a $47 billion deal....

J2 Global unit to acquire Everyday Health in $465m deal

J2 GlobalJ2 Global and Ziff Davis announced that Ziff Davis has entered into a definitive merger agreement to acquire Everyday Health, a provider of digital health marketing and communications solutions....

DTE Energy acquires $1.3bn natural gas midstream assets in U.S.

DTE EnergyDTE Energy completed the $1.3 billion purchase of midstream natural gas assets in Pennsylvania and West Virginia....

Continued rise in bankruptcies in Norway

Norway factoryThe number of bankruptcies continues to go up. In the 3rd quarter of 2016, the total number of bankruptcies was 998. This is an increase of 14 per cent compared with the same quarter in 2015....

AT&T to acquire Time Warner in $108.7 billion deal

AT&TAT&T and Time Warner announced they have entered into a definitive agreement under which AT&T will acquire Time Warner in a stock-and-cash transaction valued at $107.50 per share....

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