Wednesday, April 5th, 2017
(April 5): China National Chemical Corp won US antitrust approval for its US$43 billion takeover of Swiss pesticide maker Syngenta AG, bringing China’s largest foreign acquisition one step closer to the finish line.
The US Federal Trade Commission said Tuesday that it was requiring the companies to divest three types of pesticides in the US as a condition for completing their deal. China’s antitrust authorities are also reviewing the proposed tie-up.
OSLO (April 5): Norway’s deputy oil minister will meet top executives of China’s biggest offshore oil producer CNOOC on Thursday to discuss possible cooperation ahead of the first visit by a Norwegian prime minister to China in a decade, officials said.
CNOOC, which operates the 140,000 barrels per day Buzzard field offshore Britain via its subsidiary Nexen, said in 2010 it would be interested to come to Norway.
(April 5): Hydrogen fuel cell maker Plug Power Inc said on Wednesday Amazon.com Inc has acquired the right to buy up to 23 percent of the company, in a deal giving the retailer powerful batteries that promise to speed up work in its warehouses.
Plug Power’s shares jumped 68.5 percent to US$2.19 in heavy trading before the bell. Amazon’s shares were marginally higher.
NEW YORK (April 5): US stocks rose on Wednesday after solid private employment data underscored the strength of the economy, boosting financial stocks and helping calm investor jitters over President Donald Trump’s ability to deliver on his policy plans.
The ADP National Employment report showed US private employers added 263,000 jobs in March, more than they hired in February and well above economists’ expectations.
The report serves as a precursor to Friday’s nonfarm payrolls report, which includes both public and private-sector employment.
(April 5): China’s R&F Properties has agreed to buy the Vauxhall Square development in central London from CLS Holdings for a gross 157.77 million pounds, a boost to the capital’s faltering luxury residential property market.
The scheme, including two 50 storey residential towers, is one of a number of developments in London designed to cash in on demand for high-end properties from foreign buyers ranging from Russian oligarchs and Middle Eastern oil barons to newly-minted Chinese entrepreneurs.
ROME (April 5): Alitalia cancelled 60 percent of scheduled flights on Wednesday as employees staged a 24-hour strike to protest against the loss-making airline’s plan to cut 16 percent of its staff and reduce flight personnel’s salaries by a third.
Italy’s flagship carrier, which is 49 percent owned by Etihad Airways, has made an annual profit only a few times in its 70-year history. It is in a race against time to win union support for its latest turnaround plan as it seeks to unlock financing and avoid having to ground planes.
WASHINGTON, April 5 — US stocks rose today after solid private employment data underscored the strength of the economy, boosting financial stocks and helping calm investor jitters over President Donald Trump’s ability to deliver on his policy…
BERN (April 5): Swiss Attorney General Michael Lauber said on Wednesday that his money-laundering investigation into Malaysian fund 1MDB was making progress despite Malaysian authorities’ refusal to cooperate.
Combing through money laundering reports and bank documents with help from Singapore, Luxembourg and the United States was bearing fruit for his office, the OAG, he said.
“It’s not hopeless, in fact it’s the opposite,” Lauber said.
KUALA LUMPUR (April 5): Based on corporate announcements and news flow today, companies that may be in focus on Thursday (April 6) could include the following: OSK Holdings Bhd, Serba Dinamik Holdings Bhd, LBS Bina Group Bhd, AEON Co (M) Bhd, WCT Holdings Bhd, Carimin Petroleum Bhd and Karyon Industries Bhd.
OSK Holdings Bhd has roped in the Employees Provident Fund (EPF) as its financial partner to develop an upcoming five-acre mixed-use development in Melbourne, Australia, with an expected gross development value (GDV) of some A$2.8 billion.
KUALA LUMPUR (April 5): The take-over offer for Tanco Holdings Bhd has been further extended to 5pm on May 2, 2017.
Tanco said it received a notice by Mercury Securities Sdn Bhd informing it of the change in closing date and time for acceptance of the offer, which was previously set at 5pm on April 7, 2017.
This marks the second extension of the offer’s deadline, which was initially on March 24.
Mercury Securities is adviser to the joint offerors who own a collective 34.1% stake in Tanco. They are Datuk Seri Tan Jing Nam, Andrew Tan Jun Suan and Datuk Tan Lee Sing.