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Highlights: September 2 - September 7, 2019

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Christian Fernsby |
Highlights
Business week in short  

The most interesting business stories that marked last business week.

Worst slump for UK factories since 2012

UK factoriesActivity in the manufacturing sector is at its weakest for more than seven years....

Green light for giant field that will produce oil next 40 years in North Sea

Johan Sverdrup fieldThe Norwegian Petroleum Directorate has granted its consent for start-up of the Johan Sverdrup field in the North Sea. The field is expected to produce oil for the next 40 years....

Manufacturing downturn continues in South Korea

Manufacturing in South KoreaDifficulties in South Korea's manufacturing sector remained apparent in August, as key gauges of economic health such as output, new orders and employment all declined....

Manufacturing PMI dips to 15-month low in India

Manufacturing in IndiaAlthough economic growth in the Indian manufacturing industry was sustained in August, most survey indicators fell since July to signal a widespread loss of momentum....

Vertex to acquire Semma Therapeutics for $950 million

Vertex PharmaceuticalsVertex Pharmaceuticals Incorporated announced that the company has entered into a definitive agreement under which Vertex will acquire Semma Therapeutics, a privately held biotechnology company pioneering the use of stem cell-derived human islets as a potentially curative treatment for type 1 diabetes, for $950 million in cash....

Japanese car sale in South Korea down 56.9 percent

Japanese carJapanese car sale in South Korea posted a double-digit fall last month amid the ongoing campaign to boycott Japanese products, caused by the trade spat between Seoul and Tokyo, industry data showed Wednesday....

All Vietnamese localities hit by African swine fever

Vietnamese pigAll Vietnam's localities have been stricken by the African swine fever (ASF), after Central Ninh Thuan province recorded cases of the animal disease, Vietnam News Agency reported....

PETA continues with nonsense actions calling wool as cruel as fur, gets its ad banned

Happy sheepA PETA advert which claimed 'wool is as cruel as fur' has been banned by the UK's advertising watchdog....

Chile to invest $5 billion to revamp railways in 25 projects

Chilean railwaysChilean President Sebastian Pinera announced a $5 billion investment plan to renovate and expand the country's railway network....

Tens of thousands of cargo ships must switch to less-polluting fuel

Big cargo shipsTens of thousands of cargo ships will have to start using less polluting fuels in January....

Erdogan says Turkey should have nuclear weapons

Recep Tayyip ErdoganTurkish President Recep Tayyip Erdogan has complained that Turkey is forbidden from owning nuclear weapons while other countries possess them, accusing them of hypocrisy....

Palo Alto Networks Q4 revenue grew 22 percent, GAAP net loss $20.8 million

Palo Alto NetworksPalo Alto Networks announced financial results for its fiscal fourth quarter and fiscal year 2019, ended July 31, 2019....

U.S. imposes duties on structural steel from China and Mexico

Structural steelThe U.S. Commerce Department said on Wednesday it imposed duties on Chinese and Mexican structural steel after making a preliminary determination that producers in both countries had dumped fabricated structural steel on the U.S. market at prices below fair market value....

Prudential Financial to acquire Assurance IQ for $2.35 billion

Prudential FinancialPrudential Financial announced that it has signed a definitive agreement to acquire Assurance IQ....

Kuwait spending $359 million on infrastructure development

Al-Mutlaa roadKuwait is boosting its spending on infrastructure development works in the Al-Mutlaa area....

Norwegian seafood exports continue to grow

Norwegian seafoodNorway exported 182,000 tonnes of seafood with a total value of NOK 8.6 billion in August....

Eight U.S. states and D.C. investigating Facebook for possible antitrust violations

FacebookNew York Attorney General Letitia James released a statement confirming the bipartisan coalition shes leading investigating social media giant Facebook for antitrust issues....

Kenya giving $6 million for hybrid electricity mini-grids

Kenya village electricityKenya Power has allocated 700 million shillings ($6.7 million) to hybridize its off-grid production systems in the country....

U.S. to Egypt: You violate human rights. Here's your $1.3 billion

Egypt streetThe U.S. State Department has decided to release $1.3 billion in military aid to Egypt....

Azul Linhas Aereas to offer nonstop flights from Fort Lauderdale, Fl. to Belo Horizonte

Azul Linhas AereasBrazil-based Azul Linhas Aereas has announced it will begin nonstop service from Fort Lauderdale, Florida to Belo Horizonte in Brazil, beginning December 16, 2019, the company said....


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