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Highlights: October 31 - November 4, 2016

Staff Writer | November 7, 2016
The summary of the last week's key headlines and the most interesting stories.
Highlights
Week at a glance  
U.S. does not rank in top 10 on any of competitiveness pillars

CompetitivenesThe United States remains stable overall in 3rd position on the competitivenes list, showing improvement in areas including macroeconomic stability, the result of a declining budget deficit....

GE and Baker Hughes to create new oilfield services company

Baker HughesGE has agreed to merge its oil and gas business with Baker Hughes to create a new oilfield technology services company with annual revenues of $32bn from providing physical and digital technology....

CenturyLink to acquire Level 3 Communications for $34 billion

Level 3 CommunicationsCenturyLink and Level 3 Communications boards of directors have unanimously approved a definitive merger agreement....

HollyFrontier to acquire Suncor Energy's PCLI in $1.13bn deal

Suncor EnergyHollyFrontier Corporation has entered into a definitive agreement to acquire Suncor Energy’s Petro-Canada Lubricants business for CAD $1.125 billion ($845 million)....

Sony Q2 profit down 86% on lower sales

SonySony reported that its second-quarter net income attributable to stockholders fell 85.6 percent to 4.8 billion Japanese yen or $48 million from last year's 33.6 billion yen....

Time Warner announces 40% gain in Q3 earning

Time WarnerTime Warner reported a profit for its third quarter that increased from last year....

UK to invest £1.9 billion in cyber security

Philip HammondThe UK will be one of the safest places in the world to do business, says governement, with a world-class cyber security industry and workforce thanks to a new plan underpinned by £1.9 billion of investment....

Alibaba Q2 profit declined 66 percent from last year

AlibabaAlibaba Group Holding Limited reported a profit for the second quarter ended September 30, 2016 that declined 66 percent from last year....

Broadcom to buy network gear maker Brocade for $5.5 billion

BroadcomBroadcom will buy network gear maker Brocade Communications Systems for $5.5 billion to expand its fiber channel and data storage businesses, the latest in a flurry of chip sector deals....

New York Times Company Q3 diluted EPS $0.00

New York Times CompanyThe New York Times Company announced a third-quarter 2016 diluted earnings per share from continuing operations of $0.00....

HCP announces $1.13bn property portfolio sale to Brookdale

HCPHCP will sell a portfolio of 64 properties leased to Brookdale Senior Living for $1.125 billion to affiliates of Blackstone Real Estate Partners VIII....

Canada to set up infrastructure bank with C$35 billion

Bill MorneauThe Canadian government will set up an infrastructure bank and give it access to C$35 billion ($26 billion)....

ASML to give 1 billion euros for stake in Carl Zeiss SMT

Carl Zeiss SMTNetherlands-based ASML Holdin and Germany-based Carl Zeiss SMT have agreed to strengthen their long-standing partnership....

American Axle to acquire Metaldyne Performance Group in $1.6bn deal

American Axle & ManufacturingAmerican Axle & Manufacturing Holdings will acquire Metaldyne Performance Group for approximately $1.6 billion in cash and stock, plus the assumption of $1.7 billion in net debt....

UK still one of most competitive economies

UK workers BritainIn Europe, The Netherlands continues its climb toward the top of the Competitivenes Index, improving its score and rising by one spot to 4th....

Morocco to raise $30bn for agriculture in Africa

Morocco farmerA new initiative aims at mobilising $30 billion to help the agriculture sector in African countries to adapt to climate change....

CarMax hiring 2,500 positions nationwide

CarMaxCarMax is recruiting for 2,500 positions in locations across the country. Of those, more than 1,200 positions are for automotive service careers....

Dalian Wanda acquires Dick Clark Productions for $1 billion

Wang JianlinChinese property and entertainment conglomerate Dalian Wanda Group announced its $1 billion acquisition of U.S.-based Dick Clark Productions, further expanding its influence in Hollywood....

Strong U.S. job growth, 161,000 employed

Strong U.S. job growthU.S. employers maintained a strong pace of hiring in October and boosted wages for workers, which could effectively seal the case for a December interest rate increase from the Federal Reserve....


 

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