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ChemChina and Syngenta Agreed on a $34 Billion Takeover, Transaction to be Completed After Regulatory Approval
Both ChemChina and Syngenta have agreed on the amount of $34 billion for ChemChina to acquire the Swiss company. The acquisition, if completed, would be the biggest foreign purchase ever made by a Chinese company. However, the trend shows that Chinese company are showing interest in investing overseas, especially in the Western countries.
Toyota Will Compensate $22 Million Over Allegations of Racial Discrimination That Obliged Minority Groups to Pay More
The case had been investigated since 2013, and the practices are believed to have been going on since 2011. U.S federal regulators claimed that African-American, as well as Asian/Pacific Islander borrowers, were charged more for auto loans. Toyota voluntarily agreed to pay the amount of compensation, but the company refuses to admit that the practice is a form of racial discrimination.
Pentagon to boost spending in defense mechanism
The Pentagon on Tuesday unveiled its plan to boost spending in defense mechanism in 2017, aiming to increase its military capability to back its European NATO allies. The US Defense Department requested a budget seeking 7.5 billion US dollar for operations in Syria and Iraq for the year 2017.
Gramercy seeks over $1.3 billion from Peru
Gramercy said that it will pursue more than 1.3 billion US dollar from the government of Peru over a land bond clash. The dispute relates to bonds issued as per the military dictatorship in the 1960s and 1970s as reimbursement to farmers who lost their lands under the agrarian reform.