POST Online Media Lite Edition



 

Highlights: April 29 - May 5, 2019

Christian Fernsby |
The most interesting business stories that marked the last week.

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HighlightsThe most interesting business stories that marked the last week.[break]


New $450m gasoline complex under construction in Egypt

gasoline complexA high-octane gasoline complex is currently under construction with investments of $450m, Mahmoud El Shabory, head of Assiut Oil Refining Company (ASORC), announced....

Uganda’s fuel quality compliance jumps from 32 percent to 99 percent

Uganda oil pumpAdulterated fuel on the market has drastically reduced due to improved quality compliance, which now stands 99 percent, according to Uganda National Bureau of Standards....

European Commission giving €1 billion targeting specifically young farmers

Young European farmerThe European Commission and the European Investment Bank (EIB) launched a €1 billion loans package targeting specifically young farmers....

Anadarko to resume talks with Occidental on $38 billion bid

Anadarko PetroleumAnadarko Petroleum said it planned to resume talks with Occidental Petroleum Corp over its $38 billion bid lodged in competition with an earlier bid from Chevron Corp....

NSF gives Provident investors more time to accept $1.68 billion hostile bid

Provident FinancialNon-Standard Finance (NSF) expressed “strong confidence” in its bid to buy Provident Financial on Monday, giving Provident’s investors more time to accept its 1.3 billion pound ($1.68 billion) offer....

Parker Hannifin to buy Lord Corp for $3.68 billion

Parker Hannifin CorpParker Hannifin Corp said it would buy privately held adhesives and coatings maker Lord Corp for about $3.68 billion in cash....

MIRA-managed consortium will acquire 50.04% stake in IGH for 1.8 bn euros

RWEIn mid-February, RWE acquired the majority shareholding in the Czech distribution system operator innogy Grid Holding (IGH) from innogy SE....

Sainsbury’s profits fell 41.6 percent

Sainsbury’sSainsbury’s profits fell 41.6 percent last year as the company struggled with restructuring charges and its attempted merger with Asda....

New Zealand unemployment rate falls to nearly 10-year low

New Zealand unemploymentUnemployment rate of New Zealand fell to 4.2 percent, close to its 10-year low, announced Statistics New Zealand....

Trump and Democratic leaders agree to spend $2 trillion on U.S. infrastructure

Larry KudlowPresident Donald Trump and Democratic leaders agreed to spend $2 trillion on U.S. roads, bridges, power grids, water and broadband infrastructure....

OOIL sells Long Beach terminal for $1.8 billion

Long Beach Container TerminalHong Kong-based Orient Overseas International Ltd. (OOIL) said that it will sell Long Beach Container Terminal (LBCT) to a consortium led by Australia’s Macquarie Group for $1.78 billion....

Volume of cyber attacks in UK increased over 140% in 2018

Small business ownerEsentire announced the release of its U.K. Threat Intelligence Spotlight, an inaugural report that details the unique threat landscape that small and medium enterprises must contend with in the United Kingdom (U.K.)....

Hong Kong Q1 GDP growth rate weakest since 2009

Hong Kong Q1 GDP growth rate weakest since 2009The Hong Kong economy advanced 0.5 percent year-on-year in the first quarter of 2019, slowing from a downwardly revised 1.2 percent expansion in the previous period, an advance estimate showed....

3M to buy Acelity and its KCI subsidiaries for almost $7 billion

3M3M announced that it has entered into a definitive agreement to acquire Acelity and its KCI subsidiaries worldwide....

DowDuPont Q1 adjusted earnings per share decreased 25 percent

DowDuPontGAAP earnings per share from continuing operations totaled $0.23 in Q1, a decline of 51 percent versus the year-ago period of $0.47....

HSBC Holdings plc Q1 profit before tax rose 30.7 percent

HSBC Holdings plcHSBC Holdings reported Friday that its first-quarter profit before tax rose 30.7 percent to $6.21 billion from last year's $4.76 billion....

Societe Generale Q1 profit fell 26%

Societe GeneraleSociete Generale first-quarter profit fell 26% over the first three months of the year, as challenging market conditions continued to hobble Europe’s banks....

Potato prices in Slovakia up by more than 50%

potatoesPotatoes in Slovakia have become more than 50% more expensive than last year, reports Eva Sadovská, analyst for the Slovak Farmers Association (SFD)....

Fiat Chrysler Automobiles Q1 adjusted EBIT decreased 29%

Fiat Chrysler AutomobilesFiat Chrysler Automobiles reported that its first-quarter adjusted EBIT decreased 29%, primarily from lower volumes partially offset by positive net pricing in North America....

TransCanada Q1 net income jumps to $1.004 billion

TransCanadaTransCanada Corporation announced net income attributable to common shares for first quarter 2019 of $1.004 billion or $1.09 per share compared to net income of $734 million or $0.83 per share for the same period in 2018....

Sinclair Broadcast to buy 21 regional sports networks from Disney in $10.6 billion deal

Sinclair BroadcastSinclair Broadcast Group will acquire the equity interests in 21 Regional Sports Networks and Fox College Sports, which were acquired by The Walt Disney Company in its acquisition of Twenty-First Century Fox....

Cuba and EU warn US after new sanctions against Cuba, US firms already target of suits

Rodrigo MalmiercaCuban Minister of Foreign Trade and Foreign Investment, Rodrigo Malmierca, denounced the new measures imposed by the US Government against the island and highlighted Washington's international isolation....

Total in $8.8 billion deal with Occidental for Anadarko's Africa assets

TotalTotal said it had reached a binding agreement with Occidental to acquire Anadarko assets in Algeria, Ghana, Mozambique and South Africa for a consideration of $8.8 billion.... â– 


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U.S.: Pacific storm will bring strong winds, heavy rain, and mountain snow

 
A strong storm that originated over the Pacific has tracked through the Great Basin and is currently transitioning across the Rockies to redevelop across the central High Plains later today into early Saturday morning.
 
 

Latest

U.S. drillers add oil and gas rigs to 586
Cold-Link Logistics will create 123 new jobs in Robeson County, North Carolina
ArcelorMittal plans Alabama mill to produce electrical steel, will create 1,300+ jobs
Manhattan Tunnel Project estimated to create 15,800 new jobs

NEWS

EPPO probes steel import tax fraud with searches in UK and Germany

Police investigate extensive data breach on Valio’s network
U.S.: Prolonged heavy rain and snowfall
Croatia: Investigation launched against 2 individuals and 1 company suspected of subsidy fraud
Latvia-Sweden subsea cable damaged in Baltic Sea
Storm brings rain and snow to southwest U.S.; snow on higher elevations
 

BUSINESS

U.S. oil rig count rises to 479

New York AG warns businesses against price gouging of eggs and poultry amid bird flu outbreak
Firms admit laundering Russian wood into EU
U.S. oil and gas rig count falls to 576
Kansas Governor announces $25M for Stafford County Transload Facility Project
Ukraine planning to resume port concessions in 2025
 

Trending Now

EU to support Envision AESC France's production of batteries for electric vehicles

Denmark supports hydrogen pipeline to Germany with $1.1bn of subsidies

EU invests over €1.2 billion in cross-border infrastructure

More nuclear power plants will be approved across England and Wales


POLITICS

South Africa raises national minimum wage to $1.55 per hour

Moldova announces tender for constructing wind, solar parks worth 200 mln euros
Denmark supports hydrogen pipeline to Germany with $1.1bn of subsidies
EU invests over €1.2 billion in cross-border infrastructure
More nuclear power plants will be approved across England and Wales
Colorado and United Kingdom sign agreement to foster trade and investment
 

Today We Recommend

Moldova announces tender for constructing wind, solar parks worth 200 mln euros


Highlights 

Cold-Link Logistics will create 123 new jobs in Robeson County, North Carolina

ArcelorMittal plans Alabama mill to produce electrical steel, will create 1,300+ jobs

Manhattan Tunnel Project estimated to create 15,800 new jobs


COMPANIES

Egypt unveils new Suez Canal navigation charts for expanded route

Maersk and Hapag-Lloyd launch Gemini Cooperation
EU to support Envision AESC France's production of batteries for electric vehicles
Ooredoo and ASN to build subsea cable for GCC countries and Iraq
Pratt & Whitney to expand manufacturing operations in North Carolina, create 325 jobs
GE Vernova to create 75 new jobs in Schenectady County, New York
 

CAREERS

Inizio appoints Colin Stanley as chief commercial officer

Bridgewest Group names operating partner and general manager, Europe
Keith Hale named group CEO to Unite Titian Software & Labguru (BioData)
Solithor appoints new CEO
McWin appoints Guillaume Charlin as managing partner
PrecisionLife: Bill Keating new chief commercial officer, diagnostics and healthcare
 

ECONOMY

U.S. becomes New Zealand's second largest export destination

Indonesia goes from $0.6 billion deficit to $5.9 billion surplus
Greece to repay $5.3 billion bailout debt early
Fraser Institute: Canada’s debt ranking falls from best in G7 to 7th worst
Kuwait reports $5.2 bln budget deficit in FY 2023-24
Eurozone reports modest Q1 GDP growth, stable annual inflation
 

EARNINGS

Ericsson Q2 sales down but North America up

Lockton revenue $3.55 billion
Motorcar Parts of America Q4 sales $189.5 million
Limoneira Q2 revenue $44.6 million
Lululemon athletica Q1 revenue increased 10% to $2.2 billion
PVH Q1 GAAP EBIT $205 million
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

U.S. resumes cattle and bison imports from Mexico under new protocol

Canada considers lowering tebuconazole residue limit on grapes, impacting U.S. imports
How expensive was agricultural land in Europe in 2023
Iran to import 50,000 tons of potatoes to stabilize prices amid rising food costs
JBS and partners donate 3 million tags to improve livestock traceability in Pará, Brazil
Hong Kong suspends of poultry meat and products from areas in U.S.
 

LEADERSHIP

Study: Missing a deadline has a bigger impact than you might think

Employers prefer younger job candidates for AI roles although experienced workers perform same or better
Study finds workers misjudge wage markets
Some organizations may need to expand their hierarchical structures earlier than others
Study finds there's right way and wrong way to deliver negative feedback in workplace
Allyship is critical and its needs appreciation
 

CRIME

Commission fines Pierre Cardin and its licensee Ahlers €5.7 million for restricting cross-border sales of clothing

BHP, Vale agree to pay $30B damages for Brazil dam disaster
Commission fines České dráhy and Österreichische Bundesbahnen €48.7 million over collusion to exclude common compe
SEC charges Keurig with making inaccurate statements regarding recyclability of K-Cup beverage pod
SEC charges John Deere with FCPA violations for subsidiary’s role in Thai bribery scheme
AG Bonta secures $3.9 million settlement with cryptocurrency company Robinhood
 

Magazine

TRAVEL

Radisson Hotel Group debuts in the heart of Tunisia’s capital city, Tunis

Morocco’s first Radisson branded hotel opens in Casablanca
Buna channels, an unreal and beautiful part of Bosnia and Herzegovina
JW Marriott unveils Mindful Haven with opening of JW Marriott Hotel Nairobi
Sotheby's Sports Week returns with fantastic artifacts
Red Roof properties open in Michigan
 

SEA, LAND, AIR

Citroën C3 Aircross, the most affordable compact SUV with 7 seats

2025 Chevrolet Equinox stands apart with fresh looks and capability
Hill Helicopters HX50, luxury in the sky
Opel Movano becomes fully equipped camper van
Porsche Panamera, new hybrid variants
Dodge Charger, 670 horsepower of electric
 

DESIGN

Cold night, hot fire pit, cool entertainment

Embellish your home with PVC panels
You'll have to hurry if you want one of 20 new Louis Vuitton watches
Luxury duvet looks good, fells good and keeps you healthy
Vacheron Constantin, watches for life and more
Schüller kitchens, where functionality marries design
 

GADGETS

MESA/Boogie Celebrates 40-year partnership with John Petrucci

reMarkable 2, monochrome tablet for your thoughts and your eyes
OnePlus Ace 3V, first with Snapdragon 7 Plus Gen 3
ASUS Zenfone 11 Ultra, flagship with a reason
Samsung Galaxy S24 is photography powerhouse
Casette tapes are making a big comeback, and so are portable players
 

HEALTH

Human cases of anthrax reported in western Mongolia

One more barrier to developing vaccine for HIV removed
Rwanda begins world's first clinical trial for treatment of Marburg virus disease
Rwanda restricts gatherings amid Marburg virus outbreak, to begin trials of vaccine
Teksas Attorney General reaches settlement in first-of-its-kind healthcare generative AI investigation
Potentially deadly fungal disease spreading in California
 

MEANTIME

India launches space docking experiment mission

World-first carbon-14 diamond battery made
Einstein Telescope step closer
Exoplanet-hunting telescope to begin search for another Earth in 2026
India to build first phase of its own space station by 2028
Roscosmos chief approves schedule of creating Russian orbital station through 2033