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Updated: 2 days 4 hours ago

BioMed Realty Being Acquired by Blackstone Real Estate for $8 billion

Sun, 10/11/2015 - 07:13

Yesterday, a deal was announced in which Blackstone Group, the largest private equity real estate investor in the United States will be buying BioMed Realty. The deal is worth $8 billion.

Recently, Blackstone had done a similar REIT privatization deal with Excel Trust, which is also a San Diego based REIT.

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Bill for whether or Not to Lift the Forty Year Old Oil Exports Ban, Heads to the Senate

Sun, 10/11/2015 - 07:11

Going against a threat of veto from the White House, the House controlled by the Republicans agreed on a bill to lift a ban on crude oil exports on Friday which has been there for the last forty years. Its supporters say that the current oil and gas boom does not quite fit the restrictions that were placed in the 1970's.

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Wal-Mart Continues with Top Management Shifts, Holley to retire in January

Sat, 10/10/2015 - 07:59

At Wal-Mart Stores, the changes at the executive level still continue. On Friday, the retailer announced some major changes in the management which includes the top tier, like the planned retirement of Charles Holley.

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European Coca-Cola Bottler in Spain Wins Labor Suit

Sat, 10/10/2015 - 07:54

On Friday, the national court of Spain said that a European Coca-Cola bottlers, one of the main in Europe could go ahead with its plan of downsize its Spanish operations. This brings an end to the tense legal situation that build up centering this closure of the bottling plant. There were street protests, attempted of a boycott of Coke products as well as strikes.

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Auckland based A2 Milk Plans to Raise up to $43 Million Through Share Placement and Share Purchase

Thu, 10/08/2015 - 07:50

A2 Milk, the Auckland based company that markets milk with different protein variants which is supposed to have health benefits is planning to raise $43 million via a share placement and purchase plan. Few months back the company shelved its plans of raising equity at a time the largest of its shareholders articulated interest of a full takeover.

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Trial Begins in London for Kiwi LIBOR Case

Thu, 10/08/2015 - 07:47

Darrell Read, a resident of Wellington, New Zealand has been charged for offering one of his colleagues in England "copious amounts of curry" in lieu of helping fix the London Interbank Offered Rate or the LIBOR rate, says reports of his trail in London.

Read, along with five other co-accused are on trial for allegedly scheming to influence LIBOR rates with the convicted trader Tom Hayes.

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Solid Energy Proposes Closing Unprofitable Huntly East Mine

Thu, 10/08/2015 - 07:45

Solid Energy, plans to shutter the Huntly East mine which has been unprofitable for a while and that would mean laying off sixty five staff out of the sixty eight. The decision was taken after the after administration realized that there was "no chance whatsoever" of finding a buyer for the site.

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Peet’s Coffee & Tea Acquiring Portland, Oregon Based Stumptown Coffee Roasters

Wed, 10/07/2015 - 08:45

On Tuesday, San Francisco Bay Area based specialty coffee roaster and retailer Peet's Coffee & Tea said that it will buy Stumptown Coffee Roasters, a Portland, Oregon, based company that specializes in cold brew coffee. This surely is good news for the coffee enthusiasts.

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McDonald’s All-day Breakfast; Popular Choices Stay and Some Dropped

Wed, 10/07/2015 - 08:41

Till Tuesday, Macdonald's all over the US had a fixed time for its breakfast menus like Egg McMuffin, sausage biscuits and other breakfast foods and that was 4 a.m. to 10:30 a.m. But, that's not the case anymore. Now, they are available all day long. But what took the fast food chain so long to take the decision?

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Los Angeles Based American Apparel Looks for Restructuring under Bankruptcy Plan

Wed, 10/07/2015 - 08:40

On Monday, the iconic and the largest "Made in the U.S.A" fashion brand of the country, American Apparel, filed for Chapter 11 bankruptcy protection. Deep in debts and surplus inventory along with millions of legal liability linked to its founder Dov Charney, the company had been struggling to stay afloat.

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Historic Trans-Pacific Partnership Deal Concluded in Atlanta

Tue, 10/06/2015 - 07:15

On Tuesday, the talks related to the largest-ever trade deal of the world concluded. The Trans-Pacific Partnership (TPP), deal was struck in Atlanta and was in the making for five years. However the impact of the deal on Australia still remains unknown.

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Ellen Kullman, DuPont’s CEO Resigns Abruptly

Tue, 10/06/2015 - 07:12

DuPont Co., CEO, Ellen Kullman resigned abruptly and will be replaced on October 16. Edward Breen will be taking her place on an interim basis, decided by the board members.

On Monday, the American chemical company made the announcement about Kullman's retirement. With the news which after the regular trading closed, its shares spiked 6.1 percent.

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OECD will be Releasing New Tax Rules on Tuesday

Mon, 10/05/2015 - 06:09

Now evading big taxes will become more difficult for multinational companies as an international taskforce plans to publish major reforms in the tax system which will affect all businesses that operate overseas.

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Carpet manufacturer Godfrey Hirst New Zealand Worried about Price-hike Risk if Wool Scourers’ Merger Deal Comes Through

Mon, 10/05/2015 - 06:06

A decision of the Commerce Commission which hints towards allowing Cavalier Wool Holdings (CWH) to merge with New Zealand Wool Services International (NZWSI) is worrying Godfrey Hirst New Zealand, the carpet manufacturer. The preliminary view of the takeover of a smaller wool-scouring company by a rival business was given in March.

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Worries about Global Oil Glut Increases as Russia Boosts its Output

Sat, 10/03/2015 - 08:43

The US crude remained close to $45 in the recent weeks. Brent crude remained between $47 and $49.

On Thursday, oil moved above $49 per barrel as a result of growing risk over the situation in Syria which further signaled at an economic slowdown in Asia and growing inventories in the USA.

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SolarCity says Its New Roof Top Solar Panels are World’s Most Efficient

Sat, 10/03/2015 - 08:39

On Friday, SolarCity, the energy firm involved in renewable energy production, announced it has developed the most efficient solar panel in the world.

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Shayne Elliott to Take Over as ANZ’s CEO Starting from January 1

Fri, 10/02/2015 - 07:48

Shayne Elliott will be replacing the ANZ chief executive Mike Smith next year. At present Elliott is the bank's chief financial officer and he will take over his new role starting from January 1, 2016.

Mike Smith will be stepping down from his post after serving for eight years in his current job.

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Commodity Prices Show a Positive Note; Still Below the Peak Noted in 2014

Fri, 10/02/2015 - 07:45

At last there are some positive changes noted in the commodity market mainly due to higher prices of aluminium and dairy products.

The downward swirl was broken by dairy prices trends which rose in the recent dairy auctions. In September, the ANZ Commodity Price Index increased by 5.5 percent marking the first increase in the last six months.

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Chinese Company Unisplendour to Pay $3.775billion for 15% Stake in Western Digital

Thu, 10/01/2015 - 09:28

On Wednesday, Unisplendour, hardware manufacturer and vendor from China, agreed to take a multibillion stake in Western Digital Corporation, which is a data storage company and is among the biggest computer hard disk drive manufacturers globally.

Unisplendour, agreed to pay $3.78 billion for a fifteen percent stake in the Western Digital headquartered in Irvine, California.

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October 1 Deadline for Chip Card Conversion Worries Many retailers

Thu, 10/01/2015 - 09:17

The deadline for the chip enabled credit and debit cards is here and that is worrying many of the nation's retailers. It's a big burden for them to convert to a more secure chip enabled technology. Banks have also been sending across updated cards updated with chip technology to their customers for months that number in millions.

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