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....


What to read next

Highlights: September 17 - September 23, 2018
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Highlights: May 18 - May 23, 2015

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

More nuclear power plants will be approved across England and Wales

EU invests over €1.2 billion in cross-border infrastructure


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