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Highlights: October 26 - October 31, 2015

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Staff writer ▼ | November 2, 2015
The summary of the last week's key headlines and the most interesting stories.
Highlights of the week
WEEK AT A GLANCE  
India to outpace U.S. in number of smartphones

SmartphonesAccording to Strategy Analytics, South Korea's annual sales of smartphones is expected at 21 million units in 2020, with its growth lagging behind other rivals by edging up 2 million from this year....

Food coating ingredients market to reach $3,698.6 million

Food coatingThe global food coating ingredients market is expected to increase from $2,645.6 million in 2014, and reach $3,698.6 million in 2020 with a CAGR of 5.8%....

Philips Q3 net income swung to profit of 324 million euros

PhilipsPhilips reported better-than-expected quarterly profits on cost cutting and strong orders for its U.S. healthcare business....

Chinese company C.banner wants to buy iconic UK toy store Hamleys

HamleysC.banner International Holdings, the Chinese footwear company, is to buy the 255-year-old British toy retailer Hamleys for around 100 million pounds ($154.1 million)....

Duke Energy to acquire Piedmont Natural Gas for $4.9 billion

Piedmont Natural GasDuke Energy and Piedmont Natural Gas announced the boards of both companies have unanimously approved a definitive agreement for Duke Energy to acquire Piedmont for approximately $4.9 billion in cash....

Bilateral trade between Andean countries and China tops $40 billion

EcuadorBilateral trade between China and the Andean Community (CAN) reached $40.32 billion in 2014, up 6.5 percent from the previous year, the regional trade bloc said....

Intercontinental Exchange to buy IDC for $5.2 billion

ICEIntercontinental Exchange Inc. (ICE) said it would buy financial data firm Interactive Data Corp. (IDC) from investment firms Silver Lake and Warburg Pincus in a deal valued at about $5.2 billion....

Bridgestone to acquire Pep Boys in $835 million deal

Pep BoysBridgestone Retail Operations will acquire The Pep Boys – Manny, Moe & Jack in an all-cash transaction for $15 per share, or approximately $835 million in aggregate equity value....

LabCorp Q3 net revenue $2.27 billion, up 46.3%

LabCorpLaboratory Corporation of America Holdings (LabCorp) announced results for the third quarter ended September 30, 2015. Net revenue was $2.27 billion, an increase of 46.3% over last year’s $1.55 billion....

Starwood Capital Group to buy properties for $5.37 billion

Equity ResidentialInvestment firm Starwood Capital Group has agreed to buy 72 properties from U.S. real estate company Equity Residential for about $5.37 billion....

Japan-Turkmenistan sign 18 billion deal

Gurbanguly BerdymukhamedovJapan’s Prime Minister, Shinzo Abe, is on a week-long tour of Central Asia. On Friday, Abe was the first Japanese head of state to visit the landlocked Central Asian Republic....

Alibaba Group revenue increased 32%

AlibabaAlibaba Group Holding Limited announced its financial results for the quarter ended September 30, 2015. Revenue was RMB22,171 million ($3,488 million), an increase of 32% year-over-year....

Apple reports record Q4 revenue of $51.5 billion

AppleApple announced financial results for its fiscal 2015 fourth quarter ended September 26, 2015. The company posted quarterly revenue of $51.5 billion and quarterly net profit of $11.1 billion, or $1.96 per diluted share....

Twitter Q3 revenue totaled $569 million, increase 58%

TwitterTwitter announced financial results for the quarter ended September 30, 2015. Revenue for the third quarter totaled $569 million, an increase of 58% compared to $361 million in the same period in 2014....

Walgreens Boots Alliance to acquire Rite Aid in $17.2 billion deal

Rite AidWalgreens Boots Alliance entered into a definitive agreement to buy all outstanding shares of Rite Aid for $9 per share in cash, for a total enterprise value of approximately $17.2 billion, including acquired net debt....

IBM board approves $4 billion for stock repurchase

IBMThe IBM board of directors declared a regular quarterly cash dividend of $1.30 per common share, payable December 10, 2015 to stockholders of record November 10, 2015....

IBM to buy Weather Company's digital assets for $2+ billion

IBMIBM said it would buy the Weather Company's digital assets to boost its Watson cloud and Internet of Things platforms....

Interval Leisure to buy Starwood Hotels' vacation business for $1.5bn

ILGInterval Leisure Group (ILG) said it would buy hotel operator Starwood Hotels & Resorts Worldwide's vacation ownership business, which it valued at about $1.5 billion....

REI to close all 143 stores on Black Friday

REIIn a letter addressed to its 5.5 million members, REI announced plans to close its doors on Black Friday at all 143 of its retail locations, headquarters and two distribution centers....

Snyder's-Lance to acquire Diamond Foods for $1.91 billion

Snyder's-LanceSnyder's-Lance will acquire all outstanding shares of Diamond Foods in a cash and stock merger transaction for approximately $1.91 billion, including the assumption of approximately $640 million of indebtedness. ...

Shell falls into $6.1 billion loss

ShellRoyal Dutch Shell’s third quarter 2015 earnings, on a current cost of supplies (CCS) basis, were a loss of $6.1 billion compared with a gain of $5.3 billion for the same quarter a year ago....

Samsung posts first profit growth in two years

SamsungSamsung has released its earnings report for the third quarter and post its first profit growth in the last two years....

Panasonic Q2 operating profit jumped to $1 billion

PanasonicLifted by strong sales of high-end TVs, security cameras and restructuring gains, Panasonic July-September operating profit jumped to 123.9 billion yen ($1 billion), up 31 percent from a year earlier....

Deutsche Bank to cut 35,000 jobs after 6 billion euros loss

Deutsche BankDeutsche Bank announced details of the execution of its strategic plan Strategy 2020 and updated performance targets for 2018 and 2020....

Elbit Vision Systems revenues $2.9 million, 66% better

Elbit Vision SystemsElbit Vision Systems announced its consolidated financial results for the three month period ending September 30, 2015....

Subsidies to cotton sector record $10.4 billion

CottonSubsidies provided to the cotton sector are estimated at a record $10.4 billion in 2014-2015 compared to $6.5 billion in 2013-14, according to the International Cotton Advisory Committee (ICAC). ...

Chevron Q3 earnings $2 billion, will cut 7,000 jobs

ChevronChevron Corporation reported earnings of $2 billion, $1.09 per diluted share, for third quarter 2015, compared with earnings of $5.6 billion, $2.95 per diltued share in Q3 2014....

Mobile accessories revenues to total $81.5 billion in 2015

Mobile accessoriesABI Research expects that global revenues for mobile accessories will reach %81.5 billion in 2015 and is forecast to grow to %101 billion in 2020 at a compound annual growth rate (CAGR) of 4.3%....

Valeant to cut all ties with Philidor as soon as possible

ValeantValeant Pharmaceuticals said it is severing all ties with Philidor Rx Services and that Philidor has informed Valeant that it will shut down operations as soon as possible....

McGraw Hill Financial to sell J.D. Power

McGraw Hill FinancialMcGraw Hill Financial is looking at selling off its J.D. Power unit, best known for car quality and reliability ratings....


 

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