POST Online Media Lite Edition



 

Highlights: May 18 - May 23, 2015

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

Article continues below






Hon Hai profit increased 56%
Monday May 18, 2015 3:32AM
Hon Hai Precision Industry reported its highest first-quarter profit growth in a decade with a 56% rise from a year earlier in its first-quarter earnings....

United Launch Alliance lays off 30% of executives
Monday May 18, 2015 5:15AM
United Launch Alliance, a Lockheed Martin and Boeing joint venture, is cutting its executive ranks by 30% in December as part of a major reorganization of the company....

General Steel Q1 total sales decreased by 44.8%
Monday May 18, 2015 5:32AM
General Steel Holdings, a non-state-controlled steel producer in China, announced its results for the first quarter ended March 31, 2015. Total sales decreased by 44.8% year-over-year to $328.2 million, compared with $594.2 million in Q1 2014....

Xinyuan Real Estate Q1 total revenues down 54.1%
Monday May 18, 2015 5:50AM
Xinyuan Real Estate announced its unaudited financial results for the first quarter 2015. Total revenues were $166.7 million, a 54.1% decrease from $362.9 million recorded in Q4 2014 and a 26.4% decrease from $226.4 million in Q1 2014....

Complaints about big energy providers in UK increased by nearly 500%
Monday May 18, 2015 6:45AM
Scottish Power has received the highest number of complaints ever recorded for a UK energy supplier....

IMH Financial Q1 top line revenue increased by 44.6%
Monday May 18, 2015 7:58AM
IMH Financial Corporation said adjusted EBITDA for the first quarter ended March 31, 2015 was $1.2 million or $0.08 per common share, compared to $3 million or $0.18 per common share for the same period in 2014....

Endo International to buy Par Pharmaceutical for $8 billion
Monday May 18, 2015 8:15AM
Endo International Plc said it would buy Par Pharmaceutical Holdings from TPG Capital for about $8 billion, including debt....

Ascena Retail to buy Ann Inc. for $2.15 billion
Monday May 18, 2015 8:30AM
Ascena Retail Group said it agreed to buy rival Ann Inc., owner of LOFT and Ann Taylor, for $2.15 billion....

Russia's UTair cuts 44% of staff
Monday May 18, 2015 12:18PM
UTair, Russia's third-largest airline, cut the number of its employees by 44.3 percent year-on-year in March to 4,171 people....

US digital ad spending will reach $58.61 billion this year
Tuesday May 19, 2015 8:28AM
Digital ad spending in the US will total $58.61 billion this year, and retailers' ad outlays will comprise 22% of that figure, or $12.91 billion—by far outpacing all other industries, according to new figures from eMarketer....

Belt and Road trade surges 20.4 percent
Tuesday May 19, 2015 10:00AM
South China's Guangxi Zhuang autonomous region saw trade with countries along the Belt and Road Asian trade and infrastructure networks rise 20.4 percent during the first four months of this year, according to customs data....

Beijing prepared to invest $100 billion in Brazil
Tuesday May 19, 2015 12:30PM
China's Premier Li Keqiang arrived in Brasilia o sign agreements on infrastructure, energy and aviation that experts say could reach $100 billion....

Tsinghua Unigroup to buy HP's stake in China networking business for $2bn
Tuesday May 19, 2015 2:01PM
Hewlett-Packard (HP) is to sell a controlling 51 percent stake in its China-based data-networking business, estimated to be worth more than $2 billion, to Tsinghua Unigroup....

Italy to pay 2.2 billion euros to millions of pensioners
Tuesday May 19, 2015 3:50PM
Italian Prime Minister Matteo Renzi's government passed legislation to make a one-off payment to millions of pensioners, a decision taken just weeks before important local elections....

Federal consumer protection bureau goes after PayPal for $25 million
Tuesday May 19, 2015 4:05PM
The Consumer Financial Protection Bureau (CFPB) filed a complaint and proposed consent order in federal court against PayPal for illegally signing up consumers for its online credit product, PayPal Credit, formerly known as Bill Me Later....

Los Angeles raises minimum wage from $9 to $15 an hour
Tuesday May 19, 2015 5:41PM
"Fight for 15" movement scored the biggest victory to date: By 2020, the minimum wage in Los Angeles will be raised from $9 an hour to $15 an hour....

Turkish foreign direct investment $6.8 billion in 2014
Wednesday May 20, 2015 5:15AM
Turkish companies made a total of $6.8 billion in foreign direct investment last year, according to a report released by the United Nations Conference on Trade and Development (UNCTAD)....

Altice enters US market with acquisition of Suddenlink for $9.1 billion
Wednesday May 20, 2015 6:59AM
European cable and mobile phone operator Altice has signed a definitive agreement to acquire 70% of the share capital in Suddenlink from existing shareholders BC Partners, CPP Investment Board and Suddenlink management....

Embraer to sell aircraft to Tianjin Airlines for $1.1 billion
Wednesday May 20, 2015 8:05AM
Embraer S.A. and China's Tianjin Airlines, a subsidiary of the HNA Group, have signed the final agreement for the sale of 22 aircraft....

Cable & Wireless loss down to $1 million from $98 million
Wednesday May 20, 2015 12:18PM
Cable & Wireless Communications posted a significantly narrowed pretax loss for fiscal 2015 due to lower finance costs and gains on sale of businesses....

Banks fined $6 billion in Libor scandal
Wednesday May 20, 2015 1:12PM
Four major banks agreed to plead guilty to trying to manipulate foreign exchange rates and six were fined nearly $6 billion in another settlement in a global probe into the London interbank offered rate (Libor)....

Walmart to hire 250,000 U.S. veterans over seven years
Wednesday May 20, 2015 1:45PM
Walmart said the next step in its Veterans Welcome Home Commitment by guaranteeing a job offer to any eligible U.S. veteran honorably discharged from active duty since the commitment's original launch on Memorial Day 2013....

Johnson & Johnson to file 10 new drugs, each worth $1 billion
Wednesday May 20, 2015 2:08PM
Senior leaders from the Janssen Pharmaceutical Companies of Johnson & Johnson (Janssen) set plans to file for regulatory approval of more than 10 new products between 2015 and 2019....

ConAgra Foods to pay $11.2 million to settle salmonella case
Wednesday May 20, 2015 2:35PM
ConAgra Foods said it will pay $11.2 million to settle a federal criminal charge that the company shipped Peter Pan peanut butter tainted with salmonella from a plant in Georgia more than eight years ago....

Target Corporation Q1 adjusted EPS up 19.6%
Thursday May 21, 2015 5:10AM
Target Corporation reported first quarter 2015 adjusted earnings per share from continuing operations (Adjusted EPS) of $1.10, up 19.6 percent from $0.92 in 2014....

China to boost investment in Russia by 150% in 5 years
Thursday May 21, 2015 8:18AM
China may more than double its investment in the Russian economy to $10 billion within 5 years if conditions are favorable, said the Deputy Secretary-General of the China Overseas Development Association He Zhenwei....

CVS Health to buy Omnicare for $12.7 billion
Thursday May 21, 2015 8:28AM
CVS Health Corporation and Omnicare have entered into a definitive agreement for CVS Health to acquire Omnicare, the leading provider of pharmacy services to long term care facilities, for $98 per share in cash....

Qualcomm initiates $5 billion accelerated share repurchase
Thursday May 21, 2015 2:48PM
Qualcomm Incorporated has entered into accelerated share repurchase agreements with two financial institutions to repurchase an aggregate of $5 billion of stock, with an initial delivery of approximately 57.7 million shares....

China Fruits Q1 revenues from franchised stores increase by 78%
Friday May 22, 2015 5:25AM
China Fruits Corporation released its financial results for thefirst quarter ended March 31, 2015. Total gross revenue were $5,850,335, compared to $8,015,860 for the same period ended March 31, 2014....

Unisplendour to buy 51% stake in H3C, HP business for $2.3 billion
Friday May 22, 2015 7:40AM
HP and Tsinghua Holdings jointly announced a partnership that will bring together Chinese enterprise technology assets of Hewlett-Packard and China's Tsinghua University experience....

Marvell Technology Q1 revenue down 16 percent
Friday May 22, 2015 8:25AM
Marvell Technology Group reported financial results for the first quarter of fiscal year 2016, ended May 2, 2015. Revenue was $724 million, down approximately 16 percent from $857 million in Q4 2015, ended January 31, 2015....

Azul and Embraer sign firm order for up to 50 E-Jets E2 for $3.2 billion
Friday May 22, 2015 8:50AM
Embraer S.A. and Azul Linhas Aéreas Brasileiras S.A. have reached a final agreement for 30 firm orders for the E195-E2 jets....

Trina Solar Q1 net revenues down 20.8%
Friday May 22, 2015 9:05AM
Trina Solar Limited announced its unaudited financial results for the first quarter of 2015. Net revenues were $558.1 million, a decrease of 20.8% sequentially and an increase of 25.5% year-over-year....

Peru to raise $113 billion to narrow infrastructure gap
Friday May 22, 2015 3:54PM
Peru plans to raise $113 billion to reduce infrastructure gap, the Peruvian news agency Andina reported....

Bird flu raises egg price from $0.63 to $1.83 a dozen
Saturday May 23, 2015 3:55AM
As avian influenza outbreak continues to spread across the Midwestern United States, some egg-dependent companies are thinking about importing eggs from overseas or looking to egg alternatives....


What to read next

Billions of benefits, thousands of jobs from new hub airport
Highlights: August 29 - September 2, 2016
Highlights: October 30 - October 1, 2017