POST Online Media Lite Edition



 

Highlights: January 23 - January 28, 2017

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

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China sets up $14.6 billion internet investment fund

China has set up a 100 billion yuan ($14.55 billion) fund to support investment in the internet sector, Xinhua reported....

High new sales growth drives very strong business confidence in Asia

The Headline Sales Managers’ Index (SMI) for Asia was 57.5 in January, up against the 2016 average of 57.4, according to World Economics....

Saudi Basic Industries to pay $820 million for rest of Shell JV

Saudi Basic Industries Corp. (Sabic) signed an agreement to acquire for $820 million the 50% stake that it doesn't already own in its local joint venture with an affiliate of Royal Dutch Shell....

Alaska unemployment rate 6.7 percent in December

Alaska’s seasonally adjusted unemployment rate was 6.7 percent in December, essentially unchanged from November’s 6.8 percent....

Judge blocks Aetna-Humana deal, says it's anti-competitive

A federal judge has blocked Aetna's proposed takeover of Humana, calling the merger anti-competitive....

U.S. airlines will ask Trump to stop Emirates' flights to America

Emirates' announcement that it would start flying to the United States with a stop for passengers in Greece sparked a strong reaction from a lobby group representing U.S. competitors who accused it of competing unfairly through state subsidies....

Bangladesh found two outbreaks of H5N1 bird flu in poultry

Bangladesh discovered two outbreaks of the highly contagious H5N1 bird flu virus in poultry last week....

Rio Tinto sells coal assets to China's Yancoal for up to $2.45 billion

Rio Tinto has reached a binding agreement for the sale of its wholly-owned Australian subsidiary Coal & Allied Industries Limited to Yancoal Australia Limited for up to $2.45 billion....

China will make it rain over area as big as half of Europe

An artificial rain project costing 1.15 billion yuan ($168 million) has been approved by China’s top economic planning agency for the country’s dry northwestern provinces, the South China Morning Post reported....

Cisco to buy AppDynamics for $3.7 billion

Cisco said it will acquire AppDynamics, a privately held application intelligence software company based in San Francisco, Ca....

China committed to Asia-Pacific economic integration

China said that it was committed to the process of Asia-Pacific economic integration in a spirit of openness, inclusivity and transparency, despite the United States quitting the Trans-Pacific Partnership (TPP)....

State Grid of China buys largest power distributor in Brazil

State Grid Corporation of China has taken ownership of a controlling stake in Brazilian power utility CPFL Energia, the largest power distributor in the country....

DTE Energy spent $1.3 billion in Michigan, created more than 13,000 jobs

DTE Energy in 2016 spent more than $1.3 billion with Michigan-based companies, far exceeding its commitment to the Pure Michigan Business Connect (PMBC) local supplier initiative and its pledge to create new jobs in the state....

Johnson & Johnson to give $30 billion for Actelion

Johnson & Johnson will launch an all-cash tender offer in Switzerland to acquire all of the outstanding shares of Actelion for $280 per share, payable in U.S. dollars, which equates to CHF 280.08 per share as of January 25, 2017....

United Rentals to acquire NES Rentails for $965 million

United Rentals will acquire NES Rentals Holdings II for approximately $965 million in cash....

McKesson to acquire CoverMyMeds for approximately $1.1bn

On January 24, 2017, McKesson entered into an agreement to acquire CoverMyMeds for approximately $1.1 billion, or $0.9 billion net of incremental cash tax benefits....

Sky: That's enough. We have been overpaying Discovery for years

Discovery Communications's UK unit said negotiations with Sky for a new carriage deal reached an impasse over a price dispute, threatening a blackout of Discovery channels from Sky's platform....

AltaGas to acquire WGL Holdings for $6.4 billion

AltaGas will acquire WGL Holdings in an all cash transaction valued at approximately C$8.4 billion ($6.4 billion)....

Canada’s $15bn arms deal with Saudi Arabia good to go, says judge

A Canadian law professor who challenged the legality of Canada’s $15bn arms deal with Saudi Arabia lost the case after a federal court dismissed his lawsuit earlier this week....

Mexican president cancels meeting with Trump

Mexican President Enrique Peña Nieto canceled a scheduled meeting with the new American president....

Cyclone approach clears key Australian export ports

As of 8am (AWST), a tropical low is located 260 kilometres north, northeast of Port Hedland and is likely to reach tropical cyclone intensity late today or Saturday....

Midland States Bancorp acquire Centrue Financial in $175.1m deal

Midland States Bancorp will acquire Centrue Financial Corporation for estimated total consideration of $175.1 million, or $26.75 per share of Centrue common stock....

American Airlines Group earnings down 63% in Q4

American Airlines Group revealed a profit for fourth quarter that declined compared to the same period last year....

Harris to sell government IT services business to Veritas Capital for $690m

Harris Corporation announced a definitive agreement under which an affiliate of Veritas Capital will acquire Harris’ government IT services business for $690 million in cash....

First farm in France with Aquaculture Stewardship Council certification

Huitres Favier Earl has become the first farm in France to achieve Aquaculture Stewardship Council (ASC) certification....

Avian flu confirmed at a farm in Wyre, Lancashire

The UK’s Deputy Chief Veterinary Officer has confirmed H5N8 avian flu in a flock of pheasants at a farm in Wyre, Lancashire....

Beavers cut world's southernmost city out off internet

Ushuaia, capital of Tierra del Fuego in the extreme south of Argentina, was left without internet and cellular phone communications most of last Friday because beavers had bitten pieces of the optic fiber for their dens....

One of world's biggest defense companies found new market - children's books

One of Russia's largest defence companies, and one of the biggest in the world. has published a book about its tanks for children of pre-school age....


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