Ethiopia private push to be supported by World Bank.
According to Ethipian PM Abiy Ahmed , the World Bank may soon provide budget support to the tune of 1 billion dollars to aid liberalisation which has been affecting almost all sectors in the Ethiopian economy except for the banking sector which continues to be shielded.
Hydro One and Avista Corp cancel proposed merger
Hydro One and Avista Corp have agreed to cancel their merger after regulators in Washington state and Idaho refused the deal. Hydro One Limited is an electricity transmission company serving the Canadian province of Ontario. It is an over 100 year old company responsible for the Hydro Electric Power Commission of Ontario. Avista Corporation is an American energy company. Avista generates and transmits electricity and distributes natural gas to residential, commercial, and industrial customers.Under the terms of the merger agreement, Hydro One must now pay Avista US$103 million in termination fees. The Washington Utilities and Transportation Commission has denied the planned takeover of the American company. The Idaho Public Utilities Commission also denied the proposed takeover. The merger required approvals from state regulatory commissions in Washington, Idaho, Oregon, Montana and Alaska . Only Montana and Alaska have agreed to the proposal." Rickford, Ontario Energy Minister, has comforted customers that the penalty shall not be loaded on them.
Over 11% drop in mergers and acquisitions for sub-Saharan Africa
Refinitiv, formerly Thomson Reuters’ Financial and Risk business, is one of the world's largest providers of financial markets data and infrastructure, serving more than 40 000 institutions in more than 190 countries. The company reported a 12  percent decline in mergers and acquisitions (M&A) in the value of announced M&A transactions with any sub-Saharan African involvement in the year 2018. The sub-Saharan Africa is, geographically, the area of the continent of Africa that lies south of the Sahara. According to the United Nations. it consists of all African countries that are fully or partially located south of the Sahara The UN Development Program lists 46 of Africa’s 54 countries as “sub-Saharan,” excluding Algeria, Djibouti, Egypt, Libya, Morocco, Somalia, Sudan and Tunisia.The report was published in the Middle East and Africa Investment Banking Review for 2018.
Employees of Rogers Media attempt to buy magazines
A number of Rogers Media staff members have put together a proposal to purchase the company’s magazine branded five titles ; Maclean’s, Today’s Parent, Hello! Canada and Chatelaine’s English and French editions, along with digital titles Canadian Business and Flare and a custom content division. Rogers had tried to sell the magazines in 2018The deal nearly came through with Roustan Media, but later collapsed.Rogers sold the MoneySense website to Ratehub in late 2018. Rogers is a leading diversified Canadian communications and media company. They are Canada’s largest provider of wireless communications services and one of Canada’s leading providers of cable television, high-speed Internet, information technology, and telephony services to consumers and businesses. Through Rogers Media, they are engaged in radio and television broadcasting, sports, televised and online shopping, magazines, and digital media. The shares are publicly traded on the Toronto Stock Exchange and on the New York Stock Exchange . Rogers Media was created in 1994 after the acquisition of Maclean-Hunter properties to manage all television station and specialty channels, radio stations and publishing assets. Rogers Media, Inc. is a subsidiary of Rogers Communications, which owns Canada's largest publishing company, Rogers Publishing Limited, which has more than 70 consumer and business publications. Rogers Media Inc. also owns 52 radio stations, and several television properties including terrestrial television stations and cable television channels.
Manroland Goss acquires GWS, Dovak
Printing solutions provider manroland Goss web systems Group acquired GWS Printing Systems of the Netherlands, a specialist in used web offset equipment, the companies announced on Dec. 20,2018.Manroland web systems and Goss International (“Goss”), are both long-time web offset printing manufacturers and service providers. The new company will operate under the brand name “manroland Goss web systems” Alexander Wassermann, CEO of Manroland web systems, will be theCEO of the new company with global headquarters in Augsburg, Germany. The company’s North American headquarters will be in Durham, NH. Mohit Uberoi.The then CEO of Goss International, will be a board member and assist the management team with business integration.The existing shareholders of manroland web systems and Goss International, the Lübeck-based Possehl Group and NY-based American Industrial Partners (AIP) will remain shareholders of the new company .Manroland Is a German company having a history of beyond 150 years.Its turnover exceeds EUR 900 million. Goss on the other hand is an American company founded by brothers Fred and Sam Goss The original Goss Printing Press Company was founded in Chicago in 1885.
Knesset Finance Committee approves grant to Intel
Israel's Knesset Finance Committee has approved a NIS 700 million grant for Intel Corp in return for a planned $5 billion expansion of its production operations at the Kiryat Gat fab. Intel submitted its plans for the Kiryat Gat expansion in May.The Knesset (Israel's unicameral parliament) is the country's legislative body.
Intel is Israel's largest private employer and biggest exporter. In 2017, Intel Israel exported $3.6 billion worth of goods, 8% of all Israel's high-tech exports. In exchange for the NIS 700 million grant, the Israeli government expects Intel to hire 250 new employees and make NIS 2.1 billion in Israeli procurement.
Toyota Suzuki tie up
Toyota was founded by Kiichiro Toyoda in 1937, as a spinoff from his father's company Toyota Industries to create automobiles. Toyota was the world's first automobile manufacturer to produce more than 10 million vehicles per year which it has done since 2012, when it also reported the production of its 200-millionth vehicle. As of July 2014, Toyota was the largest listed company in Japan by market capitalization and by revenue. On the other hand Suzuki had started with manufacture of Looms, and subsequently shifted to car manufacturing. By 1954, Suzuki was producing 6,000 motorcycles per month and had officially changed its name to Suzuki Motor Co., Ltd. Following the success of its first motorcycles, Suzuki created an even more successful automobile: the 1955 Suzuki Suzulight. The Suzulight sold with front-wheel drive, four-wheel independent suspension and rack-and-pinion steering, which were not common on cars until three decades later.Volkswagen held a 19.9% non-controlling shareholding in Suzuki between 2009 and 2015. An international arbitration court ordered Volkswagen to sell the stake back to Suzuki. Suzuki paid $3.8bn to complete the stock buy-back in September 2015.
Toyota Motor Corp. and Suzuki Motor Corp. have agreed to sell each other’s cars in India.While Suzuki will supply its best-selling models such as compact car Baleno and small sports utility vehicle Vitara Brezza to Toyota, small car specialist Suzuki will source Toyota’s popular sedan Corolla and sell it through the dealership network of Maruti Suzuki India Ltd—its local unit.
Cronos group shares tumble (14/5/19)
The Cronos Group Inc. is a medical marijuana producer and the the first cannabis company to be listed on the Nasdaq stock market under the trading ticker symbol "CRON."The Altria group has invested Canadian $2.4 millions. However the group has not been able to propel performance and use this investment as a leverage.
Struggling Jaguar Land Rover may be sold , rumors.
Jaguar Land Rover owned by the Indian Tatas could be sold to a French manufacturing firm after the holding company lost £3.4billion in just three months. It may be snapped up by PSA, which owns Peugeot, Citroen, and Vauxhall. Groupe PSA (known legally as Peugeot S.A.; known as the PSA Group in English; formerly known as PSA Peugeot Citroën from 1991 to 2016) is a French multinational manufacturer of automobiles and motorcycles sold under the Peugeot, Citroën, DS, Opel and Vauxhall brands.
Japan tests the world's fastest-ever bullet train
The bullet train is known as Alpha-X.The train is capable of reaching speeds of 400 kms per hour
Chevron bows out of Anadarko fight
Anadarko Petroleum Corporation is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in two skyscrapers in The Woodlands, Texas: the Allison Tower and the Hackett Tower, both named after former CEOs of the company.The company has been the subject of multiple environmental cases, including the largest environmental contamination settlement in American history - the 2014 settlement related to the former Tronox subsidiary of Kerr McGee, a company purchased by Anadarko in 2006. The company is ranked 257th on the Fortune 500. Chevron Corporation is an American multinational energy corporation. One of the successor companies of Standard Oil, it is headquartered in San Ramon, California, and active in more than 180 countries. Chevron is engaged in every aspect of the oil, natural gas, and geothermal energy industries, including hydrocarbon exploration and production; refining, marketing and transport; chemicals manufacturing and sales; and power generation. Chevron is one of the world's largest oil companies; as of 2017, it ranked nineteenth in the Fortune 500 list of the top US closely held and public corporations and sixteenth on the Fortune Global 500 list of the top 500 corporations worldwide.
Chevron Chief Executive Michael Wirth’s decision to opt out of a bidding war for Anadarko Petroleum Corp has dampened expectations that oil majors will drive a new wave of consolidation in U.S. shale.Wirth last week ruled out increasing his $33 billion offer for Anadarko after being outbid by Occidental Petroleum Corp, walking away from a company he had described as a perfect match. Chevron received a $1 billion breakup fee that it will use toward share buybacks.
Ghana is Africa’s top gold producer
Ghana has become the largest gold producer in Africa, toppling South Africa in a recent data released by the World Bank.Ghana has thus dethroned South Africa, which produced 139.3 tonnes and returned to the high volumes of the 1
Rumors of takeover of Lendlease by a Japanese company send its stocks soaring.((13/5/19)
Lendlease is a $7.2 billion business which brings together construction, development and investment management on a global platform . Mistui of Japan is rumored to be a prospective predator. Speculations have led to the stock of Lendlease soaring. Lendlease ;headed by Steve McCann, has unveiled damaging revelations last November that it would take a $350 million provision after a raft of delays and design blunders hit its engineering and services division.There was a sharp decline in the value of its stock after this announcement. Lendlease Group is a multinational construction, property and infrastructure company headquartered in Barangaroo, Sydney, Australia. The company was established by Dick Dusseldorp [3] in 1958 to provide finance for building contracts being undertaken by Civil and Civic. In 1961 the company acquired Civil and Civic from Bredero's Bouwbedrijf.
Qatar Airways plans to retire their A330s
Qatar Airways plans to retire all of their Airbus A330s within the next three years, by replacing them entirely with A350s and 787s.
The airline recently phased out A340-600s, so the plan is now to do the same for A330s. At the moment Qatar Airways has a fleet of 25 A330s, including 12 A330-200s and 13 A330-300s.
Cronos group shares tumble (14/5/19)
The Cronos Group Inc. is a medical marijuana producer and the the first cannabis company to be listed on the Nasdaq stock market under the trading ticker symbol "CRON."The Altria group has invested Canadian $2.4 millions. However the group has not been able to propel performance and use this investment as a leverage.