South Africa's energy crisis will now be answered by the launching of the largest solar farm built in Northen Cape. It could generate power that could supply electricity from renewable energy to 75,000 households yearly.
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Spotify Agrees to Pay $21 Million for Music Royalties
The streaming service company on Wednesday reached the deal over music royalties with the National Music Publisher's Association (NMPA). Spotify will pay $21 million worth of royalty to publishers and songwriters.
New Zealand Suffers Acute Shortage of Marijuana: 42% Aged Kiwis Familiar With Smoking Weed
Use of cannabis is very common in the island state of New Zealand. Around 42% of all aged Kiwis have reportedly tried the most popular but illegal substance. However, the island nation is going through acute shortage of weed due to drought, flood and intervention from the law enforcers.
Pacific Exploration Corp explores 6 buyout offers
Pacific Exploration & Production Corp is actively examining six buyout offers. The Canada-listed company is in the process of avoiding bankruptcy. The company's board is likely to take its final decision by this weekend.
TransCanada Acquires Columbia Pipeline For $13 Billion To Dominate Energy Sector In North America
TransCanda has announced on Thursday its acquisition of Columbia Pipeline for $13 billion in total, enabling the energy giant to represent itself as a dominant player in the businesses of natural gas across the North America. The deal appears following a series of announcement for merger in the energy sector including $2.3 billion deals in 2016.
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Bouygues SA is probably going to be acquired through a multi lateral deal. Though the deal appears for €10 Billion in total, Altice will have to pay €4 Billion. The rest deal amount will be paid by Orange SA, SFR and Illiad SA.
JPMorgan board has announced the approval of $1.88 billion buy-backs in stock. The recent buy back decision follows its earlier precedence of repurchasing stock for $6.4 billion. The board has allowed flexibility in timeframe and quantity of purchased shares or even pulling out from the decision at company’s own discretion.
Automatic emergency braking systems have proved their efficiency in preventing car accidents. The systems may reduce the number of rear-end collisions by up to 40%. Considering the efficacy level, almost all US automakers and NHTSA have reached an agreement to make the system a standard equipment on most cars by 2022.
Central bank of Chile has not changed its key interest rate for three months in a row even though it recorded the slowest economy growth rate in six years in January 2016. The inflation rate is alarmingly at 4.7 percent above the two percent target of Chile government.
Sirius Minerals has decided to execute a potash mine, Britain's first potash mine in 40 years, at an investment of £2.5-billion. Sirius is planning to raise funds from investors and banks. Environmentalists are raising concerns , however, about the project as it would have underground network of tunnels underneath North York Moors National Park.
Tech company 373K decided to move from Georgia due to religious freedom bill that would allow anti-gay discrimination. After reaching the decision to move through voting, the company is now in the process in moving to Delaware.
Samsonite saw strong sales in Asia, particularly China, in 2015. The company is not sure about 2016 outlook due to potential challenges, as it moves forward to boost presence in Asian markets.
Uber has announced another new feather of its app, Family Profiles which enables customers to pay for the rides of their family members. The person, organizing the' Family Profiles' will be served a detailed report of the rides they are paying for. The feature is primarily available in select cities of the US.
Coherent has announced acquiring Rofin-Sinar through a deal for $942 million. The deal is expected to close by the coming six to nine months. Through the acquisition, Coherent eyes to represent itself as a global leader in the area of laser and photonics technology.
