POST Online Media Lite Edition



 

Highlights: October 9 - October 15, 2016

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

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China's high speed rail track exceeds 20,000 km

China's high-speed railways now exceed 20,000 km in length with the opening of a line linking Zhengzhou in central China's Henan Province with Xuzhou in eastern Jiangsu Province....

Workweek in U.S. drops to 34 hours, freelancers work longer

Despite the belief that most of Americans are the 9-to-5 working mantra, it turns out the average workweek is 34 hours long....

CFO Lewis: Deutsche Bank derivatives risk massively overestimated

Deutsche Bank is continuing to cut back the size of its derivatives book, which is not as risky as investors may believe, chief risk officer Stuart Lewis told German weekly paper Welt am Sonntag....

Expolink consortium signs €2.6bn deal with Dubai Transport Authority

The Alstom-led consortium Expolink, also composed of ACCIONA and Gulermak, has signed a contract with Dubai's RTA (Roads & Transport Authority)....

Samsung halts production of Galaxy Note 7

Samsung Electronics halted production of its Galaxy Note 7 smartphone after reports the phone's replacement batteries can catch fire....

Calpine Corporation to buy Noble Americas Energy Solutions

Calpine Corporation has entered into an agreement to purchase Noble Americas Energy Solutions (NAES), the nation’s largest independent supplier of power to commercial and industrial retail customers....

Samsung ends production of Galaxy Note 7, loss $17 billion

Electronics giant Samsung has said it will permanently halt production and sales of its Galaxy Note 7 smartphone....

Invasive insects cause 69 billion euros of damage every year

Invasive insects cause at least 69 billion euros of damage per year worldwide, an new analysis shows....

Airbus: Poland mislead us during negotiations

Airbus Helicopters hit back at Poland's decision to cancel a multi-billion-dollar military helicopter deal....

Data about usage of mobile apps is wrong in 99% of cases

Amplitude released findings from a study of retention data collected from its popular analytics platform....

U.S. job openings at 3.6 percent, eight-month low

U.S. job openings fell to an eight-month low in August and hiring was little changed, suggesting some easing in labor market conditions amid an aging economic recovery....

Jobless rate in South Korea up to 11-year high in September

South Korea's jobless rate rose to the highest in 11 years in September due to chronic export slump and the ongoing restructuring in shipbuilding and shipping industries....

Hanjin Shipping to sell major businesses

South Korea's Hanjin Shipping is selling major businesses, including its Asia-U.S. route network....

China pumps 44.7 billion into financial market

The central bank said that it had pumped 301 billion yuan ($44.7 billion) into the Chinese financial system in open market operations via medium-term lending facility (MLF)....

Kellogg to acquire Ritmo Investimento of Brazil

Kellogg Company has entered into an agreement to acquire Ritmo Investimentos, controlling shareholder of Parati, Afical Ltda and Pádua, a Brazilian food group....

Facebook, Google, PLDC and TE SubCom to build highest-capacity cable

TE SubCom, Facebook, Google, and PLDC (Pacific Light Data Communication) will co-build the Pacific Light Cable Network (PLCN)....

ChemChina and Sinochem in talks on $100 billion merger

Chinese state-owned chemical companies Sinochem Group and ChemChina are in discussions about a possible merger to create a giant with almost $100 billion annual revenue....

HP Inc. to cut additional 3,000 to 4,000 jobs

HP Inc. said it plans to cut between 3,000 and 4,000 jobs in the next three years....

SoftBank Group to establish Vision Fund, plans $100 billion

SoftBank Group Corp. will form SoftBank Vision Fund to make investments in the technology sector globally....

Freeport-McMoran to sell California oil and gas assets for $742 million

Freeport-McMoran has agreed to sell its onshore California oil and gas properties to Sentinel Peak Resources California for $742m....

Naspers to sell Allegro Group for $3.253 billion

South Africa-based internet and entertainment group Naspers said it will sel a 100% stake in Poland-based Allegro Group....

Medtronic recalls several devices, FDA notified

Medtronic has notified customers of a voluntary recall of certain lots of its Pipeline embolization device, Alligator retrieval device and X-Celerator hydrophilic guidewire....

Emergency order: No air transport of Galaxy Note 7

The U.S. Department of Transportation (DOT), with the Federal Aviation Administration (FAA) and the Pipeline and Hazardous Materials Safety Administration (PHMSA), announced it is issuing an emergency order to ban all Samsung Galaxy Note 7 smartphone devices from air transportation in the United States....


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