POST Online Media Lite Edition



 

Highlights: March 22 - August 26, 2016

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

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Bellerophon Therapeutics cuts loss to $46.5 million

Bellerophon Therapeutics reported financial results for the year ended December 31, 2015....

Petrobras Q4 loss $10 billion, will cut 12,000 jobs

Petrobras, reported a record quarterly loss of $10.2 billion due to a large reduction in the value of some assets amid lower oil prices....

Anthem sues Express Scripts, wants $3 billion in savings

Health insurance giant Anthem sued Express Scripts, a manager of drug benefits, to get a bigger share of savings on prescription medicines....

Lloyd's of London 2015 profit slumps 30%

Insurance market Lloyd's of London posted a 30% drop in 2015 profit as investment returns fell and chairman John Nelson said contingency plans were being made for Brexit....

Tourism added 7.2 million jobs and $7.2 trillion to GDP

According to the World Travel and Tourism Council, the travel and tourism industry added 7.2 million jobs and contributed $7.2 trillion to the gross domestic product in 2015....

Credit Suisse to cut further 2,000 jobs

Since October 2015, Credit Suisse made good progress in reducing its fixed cost base across the organization and its cost program is moving at pace....

Italian banks Banco Popolare, BPM agree to merge

Banco Popolare – Società Cooperativa and Banca Popolare di Milano signed a memorandum of understanding for a merger to be carried out through the incorporation of a new banking holding in the form of joint stock company....

CNOOC 2015 net profit decreased 66.4%

China National Offshore Oil Corporation (CNOOC) said its 2015 net profit slid 66.4% to 20.25 billion yuan as low oil prices took a heavy toll....

Turkish tourism sector expects $12 billion loss in revenue

Tourism representatives have said 2016 has been “much worse” than the predicted “worst case scenario,” noting the revenue loss in the sector would likely surge to $12 billion over the year....

Exelon, Pepco complete merger transaction

Exelon Corporation and Pepco Holdings announced that the two companies have completed their merger transaction....

Volkswagen recalls 800,000 Touareg and Porsche Cayenne models

Volkswagen said it is recalling about 800,000 Touareg and Porsche Cayenne model SUVs worldwide for a check of the bearing block of the pedal system....

Gilead Sciences to pay Merck $200 million for infringing two patents

A federal jury in California ordered Gilead Sciences to pay Merck two blockbuster drugs for treating hepatitis C....

Unemployment in Brazil 9.5%, highest since 2012

Unemployment in Latin America's largest country is at its highest level since 2012, the Brazilian government said....


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