POST Online Media Lite Edition



 

Highlights: February 13 - February 18, 2017

Staff Writer |
The summary of the last week's business headlines and the most interesting stories.

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Iran’s auto production up 40 percent

Iran says its production of automobiles has already seen an increase of around 40 percent over a period of 11 months starting 21 March 2016 compared to the same period in the previous year. ...

NAFTA makes North America great(er)

Scotiabank Economics released the first of its North America Free Trade Agreement (NAFTA) Reports series....

European Commission ups eurozone growth, inflation forecasts

Eurozone growth is set to ease this year, but the slowdown would be less severe than earlier expected, despite a high degree of uncertainty clouding the outlook, the European Commission said....

Allergan to buy Zeltiq Aesthetics for $2.48 billion

Allergan said it would buy body-contouring product maker Zeltiq Aesthetics Inc (ZLTQ.O) for about $2.48 billion, adding to its line-up of products used to fight fat and smoothen wrinkles....

Credit Suisse loss $2.3 billion, will cut 5,500 jobs

Credit Suisse Group net loss was 2.3 billion Swiss francs ($2.3 billion). For 2016 as a whole, Credit Suisse posted a loss of 2.4 billion francs....

Sweden's food would only last a week in an emergency

Sweden's food reserves are so low they would only last a week in the case of a national emergency, experts have warned....

Plan for exit: Frexit would cost France €30 billion

Plans to pull France out of the European Union will raise the costs of servicing the country’s debt by roughly €30bn....

State of the Internet: Old botnet strikes again

Akamai Technologies released its Fourth Quarter, 2016 State of the Internet / Security Report....

Germany has culled 776,000 poultry since bird flu outbreak

Germany has culled 776,000 farm poultry since November to combat bird flu, its agriculture ministry said....

PSA Group exploring acquisition of General Motor's Opel

Peugeot owner PSA said it's exploring an acquisition of General Motor's Opel....

Hologic to acquire Cynosure for $1.65bn

Hologic will acquire all outstanding Cynosure shares for $66.00 per share in cash....

Cigna: No merger with Anthem, we want $14.85bn. Anthem: No way

Cigna Corporation has exercised its right to terminate the proposed merger agreement with Anthem....

SoftBank Group to buy Fortress Investment Group for $3.3bn

SoftBank Group Corp. will acquire Fortress Investment Group for approximately $3.3 billion in cash....

Edgefront and Nobel to merger and create $300 million REIT

Edgefront Real Estate Investment Trust and Nobel Real Estate Investment Trust entered into an arm’s length arrangement agreement to create a diversified REIT with 36 commercial properties located across Canada....

AIG posts huge loss on $5.6 billion pretax charge

American International Group (AIG) posted a $5.6 billion pretax charge to boost its claims reserves, larger than expected and leading to one of the company's worst quarterly results since the financial crisis....

Credit Agricole profit down 67% on a write-down

Credit Agricole has reported a drop in fourth-quarter net profit, hurt by a write-down on its domestic retail arm....

Electric cars dilemma: To grant subsidies or fail with climate targets

In 2016, electric cars and hybrids represented only 1.8% of all new passenger car registrations in Germany....

U.S. business inventories saw biggest increase since 2011

U.S. business inventories rose in December and sales recorded their biggest increase since 2011....

Cardiovascular disease costs in U.S. will exceed $1 trillion

A new study by the American Heart Association projects that by 2035, cardiovascular disease (CVD) will place a crushing economic burden on the nation’s financial system....

Port Of Los Angeles records busiest January in 110 years

The Port of Los Angeles handled 826,640 Twenty-Foot Equivalent Units (TEUs) in January 2017, an increase of 17.4 percent compared to January 2016....

Snapchat IPO to aim for $22.2 billion valuation

Snap Inc., has set a valuation of between $19.5 billion and $22.2 billion for its flotation on the New York Stock Exchange....

EG Solutions wins £692,000 public sector contract

EG Solutions said it had won a £692,000 contract to implement its operational intelligence software within the public sector....

90% of fish used for fishmeal are prime fish

Every year for the past 60 years, an average of 20 million tonnes of fish caught in the global ocean have not been used to nourish people....

Giving oceans a break could generate $83bn for fisheries

Fishing less and better could generate an additional $83 billion each year for the fisheries sector, according to a new World Bank Group report....

GE Aviation reveals $4bn investment in U.S. operations

GE Aviation investments reached $4.3 billion in its expanding U.S. operations during 2011-2016 with another $1.1 billion invested in its international sites....

Ryan plan raises questions for states on Medicaid

The House Republican plan by Speaker Paul Ryan to repeal and replace the Affordable Care Act (ACA) includes broad outlines of Medicaid changes....

UAE aims to build 1st city on Mars by 2117

The United Arab Emirates announced a big goal: building a human settlement on Mars within 100 years....

Port Authority of New York & New Jersey approves largest ever $32.2bn plan

The Port Authority of New York & New Jersey Board of Commissioners approved the agency’s largest ever $32.2 billion 2017-2026 Capital Plan....


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