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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Highlights: September 17 - September 23, 2018
Highlights: June 8 - June 13, 2015
Highlights: May 18 - May 23, 2015

U.S.: Watching next strong cold front to enter northwest by late Sunday

 
A front extending from the Mid-Atlantic to the Central Plains will move southward to the Southeast to the Lower Mississippi Valley before dissipating by Sunday morning.
 
 

Latest

Luxury duvet looks good, fells good and keeps you healthy
Invasion of mosquitoes hits Buenos Aires
Three NRA leaders found liable for graft
Fire at Brazil's Paranagua port shuts 3 berths, say shipping agencies

NEWS

Former Austrian chancellor Kurz sentenced to 8 months in jail in perjury case

Myanmar navy seizes 1.5 tons of narcotics destined for Malaysia
54 people sickened at pharmaceutical packaging site in Pennsylvania
Air filters to be rolled out to first London’s 200 schools
Rain and storms along eastern seaboard; active weather returns to northwestern U.S. this weekend
Over 1,000 Greek beekeepers hold protest rally in Athens
 

BUSINESS

African Development Bank and OCP Group provide $188 million for green investment in Morocco

U.S. oil rigs jump
EU’s new Anti-Money Laundering Authority to be based in Germany
Indonesia inaugurates largest port for eastern region
California taking advantage of storms to boost water supplies
California ZEV sales skyrocketed more than 1000% in the last decade
 

Trending Now

Three NRA leaders found liable for graft

Luxury duvet looks good, fells good and keeps you healthy

Invasion of mosquitoes hits Buenos Aires

U.S.: Watching next strong cold front to enter northwest by late Sunday


POLITICS

EU to release billions of euros frozen funding for Poland

Battery and advanced manufacturing challenge to secure federal infrastructure investment in Michigan
Nearly $16.5m for short line rail projects to improve agricultural supply chain in Kansas
U.S. to invest billions to replace Chinese cranes at ports
U.S. announces $5.8 billion to clean up nation’s drinking water
Iran says it overtakes Qatar in gas extraction from joint field
 

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Air filters to be rolled out to first London’s 200 schools


Highlights 

Farmer Mac net interest income grew 21%

U.S. FDA warns using smartwatches to measure blood glucose

Spyware found on EU politicians' phones


COMPANIES

Canadian latest low-cost airline to cease operation

German citizens reject Tesla expansion plans in Gruenheide
Zalando commits to provide clearer information for consumer following EU action
Austco Healthcare enters term sheet to acquire Amentco
Maersk unveils cold chain facility in New Zealand’s Golden Triangle
Thales Alenia Space launches Merah Putih-2 satellite, aiding digital expansion in Indonesia
 

CAREERS

BioMar appoints new VP for Asia

APO Group appoints Laila Bastati as chief commercial officer
TerraPay appoints Ruben Salazar Genovez as president
Personetics names Udi Ziv as new CEO
Lingotto appoints Pam Chan to launch Mosaic
Fogmaker International appoints Johan Bjerstedt as new sales and marketing manager
 

ECONOMY

Malaysia's total approved investment up 23 pct in 2023

Eurozone current account surplus up in December
Saudi Arabia's GDP hits $1.07trn in nominal terms
Bahrain attracts record $1.7 billion in investments
Trade between China and Brazil continues rise
China keeps medium term lending facility at 2.5%
 

EARNINGS

Farmer Mac net interest income grew 21%

BioMarin Pharmaceutical Q4 revenues $646.2 million
Keurig Dr Pepper sales increased 5.4% to $14.8 billion
Dominion Energy Q4 income $273 million
Nestlé sales decreased 1.5%
Wolters Kluwer revenues €5,584 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

Commission agrees to easy burden on farmers after huge protest in Europe

Hungary, Iran sign agricultural cooperation agreement
Tanzania to import 300,000 tonnes of sugar to fill current shortage
Latvia bans imports of Russian and Belarusian agricultural products
Harsh winter kills over 1.5 mln livestock in Mongolia
Hong Kong suspends import of poultry meat and products from Ostrowski District of Wielkopolskie Region, Poland
 

LEADERSHIP

Hiring 'problem directors' can knock up to 64% off firm's value

Problematic 'zombie leadership' lives on in many cases
Younger workers have significantly lower productivity than older
Employees who experienced burnout valued jobs with training opportunities less
Moderate performance goals let workers adapt to turbulent marketplaces, research suggests
Employment quotas are bad thing
 

CRIME

Linde unit to pay $25.5 mln over claims it defrauded U.S. healthcare programs

FINRA fines Morgan Stanley $1.6 million for municipal securities violations and related failures
Eli Lilly to offer low cost insulin, donate to clinics in Minnesota settlement
Google to pay $350 million to settle shareholders' data privacy lawsuit
California AG announces $150 million multistate agreement with Hikma Pharmaceuticals for its role in opioid epidemic
North Carolina secures $13.5m agreement with First National Bank of Pennsylvania to resolve redlining claims
 

Magazine

TRAVEL

Visitors to be welcomed back on Farne Islands

Hotel Taschenbergpalais Kempinski Dresden opens
306 Room Tempo by Hilton Nashville Downtown hotel opens
Tickets on sale now for Formula 1 Etihad Airways Abu Dhabi Grand Prix 2024
Best Western SeaWorld San Antonio hotel opens in Texas
Gigantic statue of Constantine goes on display in Rome
 

SEA, LAND, AIR

Embraer Phenom 300E, true force to be reckoned with

Sikorsky S-76D helicopter, for perfect business travel above roads
Porsche Taycan, improved in almost everything
New Ford Explorer is all about exploring
Chevrolet 2025 Equinox is new and refreshed
F-150 Lightning Switchgear soon available to public
 

DESIGN

Vacheron Constantin, watches for life and more

Schüller kitchens, where functionality marries design
Marc Kaufman Furs, from glory days of Wild West to fashion empire
Kelaghayi scarf, powerful women's fashion symbol from Azerbaijan
Tiffany reimagined their necklace collections in bold style
How to make room coherent with pieces that don't really fit together
 

GADGETS

Neumann TLM 103, standard microphone for both voice and music

Epikore Epikore, luxurious loudspeakers you should have
Retro radios with soul for your car
Balanced Audio Technology power amplifier REX 500, 500 watts of solid state
Marantz TT-15S1 turntable, excellent materials and sound
Samsung Galaxy S24, smartphone focused on photography
 

HEALTH

U.S. FDA warns using smartwatches to measure blood glucose

Terahertz biosensor detects skin cancer with remarkable accuracy
WuXi Advanced Therapies receives FDA approval to manufacture Iovance's AMTAGVI (lifileucel) for advanced melanoma
Problems with sleep can trigger range of psychiatric disorders
FDA approves Xolair as first and only medicine for children and adults with one or more food allergies
Record storms in California lead to surging deadly fungal infections
 

MEANTIME

U.S. makes first lunar landing in over 50 years

Birds have been adapting to human activity for millennia
Anthropologists' research unveils monumental early stone plaza in Andes
European Space Agency satellite ERS-2 will reenter Earth’s atmosphere this week
Colorado is home to America's newest national park
Hubble views massive star forming