POST Online Media Lite Edition


Highlights: January 28 - February 3, 2019

Staff Writer |
The most interesting business stories that marked the last week.

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Inner Mongolia Baotou Steel Union forecasts drastic profit growth

Baotou Steel UnionInner Mongolia Baotou Steel Union Co., a major steel producer, forecast that its net profits will jump 45.46 percent year on year in 2018, according to a statement the company filed with the Shanghai Stock Exchange....

CEVA Logistics says CMA CGM's $1.67 billion offer is not good enough

CMA CGMCEVA Logistics said a takeover offer from CMA CGM valuing the Swiss shipper at 1.66 billion Swiss francs ($1.67 billion) was too low and urged investors to snub the bid....

ANA orders jets worth $4.3 billion from Boeing and Airbus

ANAANA Holdings voted at its board meeting to place an order for a total of 48 aircraft, which include 30 Boeing 737 MAX 8 and 18 Airbus A320neo. Deliveries are scheduled from FY2021 to FY2025....

PG&E formally files for Chapter 11

PG&EPG&E moved forward with its previously announced plan to file for Chapter 11....

Three Abu Dhabi lenders to create $114 billion bank

Abu Dhabi Commercial BankAbu Dhabi Commercial Bank, Union National Bank and Al Hilal Bank said the banks have agreed on a three-way merger, creating the third-largest bank in the United Arab Emirates....

Apple EPS all-time high $4.18, Q1 earnings up 7.5 percent

Apple companyApple announced financial results for its fiscal 2019 first quarter ended December 29, 2018....

Saudi Arabia: Indian exporters have too much pesticides on vegetables

India chiliSources in Saudi Arabia reported that instances of higher than permissible levels of pesticide residues were found on vegetables exported from India....

Samsung Q4 profit decreased 30.7 percent

Samsung ElectronicsSamsung Electronics reported a profit for the fourth-quarter that decreased about 30.7 percent from last year, reflecting a drop in demand for memory chips used in data centers and smartphone....

Metro Phoenix Bank Q4 net income increased 101.44%

Metro Phoenix BankMetro Phoenix Bank announced net income for fourth quarter ending December 31, 2018 increased 2.69% to $840,000, or $0.22 per diluted share, from $818,000, or $0.22 per diluted share in the third quarter of 2018....

Shell profits jumped 36 percent

Royal Dutch ShellRoyal Dutch Shell reported better-than-expected full-year earnings on Thursday, as deep cost cuts introduced after the 2014 energy market downturn filtered through....

S&T Bancorp Q4 net income jumps to $26.9 million from $9.3 million

S&T BancorpS&T Bancorp, the holding company for S&T Bank, with operations in five markets including Western Pennsylvania, Central Pennsylvania, Northeast Ohio, Central Ohio, and Upstate New York, announced its fourth quarter and full year 2018 earnings....

Bank of Fincastle reported dramatic improvement in net income

Bank of FincastleThe Bank of Fincastle has announced its 2018 year-end financial report and is pleased to report unaudited net income of $221,672 for the quarter ended December 31, 2018....

Blackstone to acquire controlling stake in Tallgrass Energy for $3.3bn

BlackstoneTallgrass Energy and Blackstone announced that affiliates of Blackstone Infrastructure Partners have entered into a definitive agreement with affiliates of Kelso & Co., The Energy & Minerals Group, and Tallgrass KC, LLC, an entity owned by certain members of TGE's management, to acquire 100% of the membership interests in TGE's general partner, as well as an approximately 44% economic interest in Tallgrass, for total cash consideration of approximately $3.3 billion....

Semen Indonesia buys Holcim Indonesia for $1.75 billion

Holcim IndonesiaLafargeHolcim has closed the divestment of Holcim Indonesia with the disposal of its entire shareholding of 80.6 percent in Holcim Indonesia to Semen Indonesia for an enterprise value of USD 1.75 billion, on a 100 percent basis....

Magellan Midstream Partners Q4 net income jumps to $314.1 million

Magellan Midstream PartnersMagellan Midstream Partners reported net income of $314.1 million for fourth quarter 2018 compared to $237.9 million for fourth quarter 2017....

United Bancorp reported record net income

United BancorpUnited Bancorp reported diluted earnings per share of $0.79 and net income of $4,282,000 for the year ended December 31, 2018, as compared to $0.71 and $3,546,000, respectively, for 2017....

Valley Republic Bancorp pretax income increased 22%

Valley Republic BancorpValley Republic Bancorp, the parent company of Valley Republic Bank, announced its financial results for the year and quarter ended December 31, 2018....

Deutsche Bank reports first full-year net profit since 2014

Deutsche BankDeutsche Bank reported group net income of 341 million euros for 2018, versus a net loss of 735 million euros in 2017....

Foreign direct investment falls 72 percent in Haiti

HaitiForeign direct investment in Haiti fell from about 374 million dollars in 2017 to 105 million in 2018, a 72 percent decline....

Inflation rate in Pakistan accelerates to 7.19% in January

PakistanThe Consumer Price Index (CPI) based inflation increased by 7.19 percent on a year-on-year basis in January 2019 as compared to the same period last year, Pakistan Bureau of Statistics said on Saturday....

Exxon Q4 net income decreased 28 percent

ExxonExxon Mobil's fourth-quarter net income fell 28 percent to $6.00 billion or $1.41 per share from $8.38 billion or $1.97 per share in the prior-year quarter....

Hyundai Heavy Industries sets March goal for Daewoo Shipbuilding deal

Hyundai HeavyHyundai Heavy Industries Group revealed it aims to reach a final deal in March on the acquisition of Daewoo Shipbuilding & Marine Engineering, barring a bid from compatriot Samsung Heavy Industries....

Peru: Fishery sector increased 225.88% in December 2018

Peru fisheryPeruvian fishery sector's production expanded 225.88% in December 2018, compared to the same month a year earlier, the National Institute of Statistics and Informatics (INEI) informed....

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New York: $44.4 million in assistance for struggling families with children

Governor Kathy Hochul announced the distribution of $44.4 million in federal pandemic funding to help struggling New Yorkers with children to cover back-to-school and early life nutritional expenses.


More evacuated as forest fire reignites in France
Disease carried by ticks kills cattle in two Kentucky counties
Ethiopia announces completion of third filling of Nile dam
Switzerland will use dogs to detect African swine fever in pigs


15 dead in flash flood in South Korea

Canberra airport in lockdown after shots fired
Former Deutsche Bank co-CEO Anshu Jain dies
U.S.: Monsoon and heavy rain this weekend
Monkeypox is racist name, WHO says and will change disease name
Former rector and dean in Kragujevac, Serbia arrested over 45 suspicious medical diplomas


Changuleh oil field well ahead of schedule

Drought left Germany's Rhine River with just 30cm of water
Fifth caravan of grain ships departs from Ukraine
U.S. oil, gas rig count falls for second week in a row
Six Gulf of Mexico oil platforms shut due to pipeline leakage
First hydrogen bunkering license issued in Netherlands

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Canberra airport in lockdown after shots fired

Polio identified in New York City wastewater

Vietnam thinking about $58.7-billion high-speed railway

Fisker sells out of 2023 planned production of Fisker Ocean Sport and Ultra Trims for U.S. market


Vietnam thinking about $58.7-billion high-speed railway

Talks ongoing between Iran and Iraq about import gas from Iran
Lukashenko: Belarus should have its own food packaging production by 2023
South Dakota Governor, colleagues ask President Biden to lift vaccine mandate on international travel
Governor Ron DeSantis encourages veterans to apply for temporary teaching certificates
Commission approves modifications to an existing Polish scheme to support companies

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One million people displaced by drought in Somalia


Iran tanker to return after failed U.S. attempt to steal cargo

Abbott to create 1,000 new jobs in Kilkenny and Donegal, Ireland

WebstaurantStore expands operations in Georgia, creates 213 new jobs in Bryan County


Fisker sells out of 2023 planned production of Fisker Ocean Sport and Ultra Trims for U.S. market

SAS secures $700 million for restructuring
Arbitrator rules in favor of Daiichi Sankyo in dispute with Seagen
SpaceX launches rocket carrying 46 Starlink internet satellites
Ontario welcomes $14.8 million investment to create good-paying manufacturing jobs
Rogers, Shaw and Quebecor sign definitive agreement for sale of Freedom Mobile


Daseke appoints Bruce Blaise to board

Island Pacific appoints Herman Chiu as CFO
Horizon Bancorp appoints Thomas M. Prame as president
Encora appoints Deepak Bhandari as EVP, head of corporate development
Firmenich: Maurizio Clementi interim president of taste and beyond division
Joyce Farms appoints two new leaders


Germany's trade surplus continues to shrink

Spain's inflation hits 10.8 pct, highest in 38 years
U.S. export prices in July post largest decline in 27 months
Slovak industry slowed down, production fell by 5.7% year-on-year in June
Ghana's inflation rises to 31.7 percent in July
Georgia shatters investment and job records in FY22


DEWA Q2 revenue increased

Virgin Orbit Q2 revenue $0.0 million
Illumina Q2 revenue up 3%
Canada Goose Q1 2023 revenue grew 24.2%
RWE adjusted EBITDA grows, will invest €5 billion in green strategy
METRO Q3 sales increased by 27.2%


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?


First ship with corn, soybeans arrives in Italy from Ukraine

Portugal announces 500,000 euros financial aid to farmers
Ireland: Retail sales and domestic potato consumption plateaued again
Thousands of lifeless fish in Germany and Poland
Food prices in New Zealand increase 7.4 percent annually
Colorado State Veterinarian confirms equine West Nile Virus case in Weld County


If company overcomes post-IPO innovation slump, it will survive longer

62% of consumers will stop buying from brands that compromise products to cut costs
Companies must invest to avoid supply chain scandal or pay the price in lost consumers
How awards, recognition decrease inventors' creativity
Keeping employees is harder than ever. And we don't have good news
How much is 'great resignation' costing companies?


Ex-company director from Solihull to pay £11,200 for exporting banned waste

South Korea fines 11 companies $197.5 million for price fixing
Healthcare workers in Italy put at risk due to aggravated fraud relating to protective face masks and suits
South Africa's Special Tribunal orders freeze of Transnet executives' assets
New York City announces settlement with Chipotle Mexican Grill securing $20m for 13,000 workers
PwC fined $2 million over BT audit after fraud discovered in Italy



The SureStay Hotel by Best Western Rockford East opens in Rockford, Illinois

Avani Chaweng Samui Hotel & Beach Club opens in Thailand
Buffalo Bill is coming to Manitowoc with his Wild West show
Pullman Doha West Bay Hotel opens in Qatar
DoubleTree by Hilton hotel opens in Malaysia
Great Dorset Chilli Festival, the hottest festival in UK


New Ford Maverick Tremor Off-Road Package revealed

Porsche unveils newest generation of 911 GT3 R
2023 Subaru Crosstrek sells like hotcakes
New Mercedes‑Benz GLC, at home on any terrain
GMC unleashes new 2023 Sierra 1500 AT4X AEV Edition
First BMW M3 Touring presented


Clean and luxurious men's watches

Nobody's Child, everybody's favorite
Freddy WR.UP, pants that hug you in all the right places
Stylishly luxurious house design
Great design ideas that might not work for you
Garden mirrors, explore new views of your garden


Pro-Ject X8 turntable, superior noise suppression and great sound

Shure MV7 professional dynamic microphone now available in new limited-edition color
Forget streaming services, use McIntosh MR89 to enjoy AM/FM music
Infinix NOTE 12 PRO, first smartphone powered by MediaTek Helio G99
MW75 active noise-cancelling headphones, variety of new features
Parasound JC 1+ mono power amplifier by John Curl, pure delight


Pfizer: Positive top-line results from phase 3 study of 20-valent pneumococcal conjugate vaccine in infants

Polio identified in New York City wastewater
Canada deploys over 99,000 doses of Imvamune vaccine on monkeypox response
Poland to launch 2nd COVID-19 booster for medical staff next week
Novartis says two children died after receiving gene therapy Zolgensma
FDA approves Roche's Xofluza to treat influenza in children aged 5 years and older


California weather is trending toward extremes

Swiss mountain pass ice to melt completely within weeks
ZOO gorillas invented new sound to communicate with humans
Trees store carbon even after harvested
Subsurface water on Mars defy expectations
First detection of gas in circumplanetary disk