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.
Regions
U.S. Competes with China for Business and Influence in Cuba
China and U.S. has been competing for a place in the economy and politics of Cuba. China has been doing business with Cuba for several years and the U.S. is just making a start. The edge that Washington sees is the proximity as being Cuba's neighbor.
Automatic emergency braking will be standard in US cars by 2022
The US automobile industry will have the automatic emergency braking system in place by 2022. About 20 automobile manufacturers representing over 99 percent of US automobile industry have agreed to implement automatic emergency braking system in their vehicles.
Bernie Sanders, Elizabeth Warren seek hedge fund regulation
Recently unveiled new Brokaw Act is a Congressional effort to regulate activist funds. The new act aims at regulating activist funds. Democratic Presidential candidate Bernie Sanders and Massachusetts senator Elizabeth Warren have co-sponsored the Brokaw Act.
George Osborne's £1bln budget boost for North Sea
Chancellor George Osborne has announced a £1-billion rescue package for trouble-hit North Sea oil industry. The government is also extending £730 million support for renewable electricity.
Latest News
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.
EDF has been witnessing a stretched balance sheet mainly due to lower power tariff. The French utility’s CFO has resigned this month protesting go ahead with the Hinkley project citing its indebted status. However, French government has assured of financial bailout for EDF to go ahead with the project considering future business prospect.
Domino’s Pizza has unveiled an exciting way to deliver their hot and sumptuous pizza. The pizza chain introduces Domino’s Robotic Unit or DRU, which can hold up to ten pizzas and travels at 20 km/h.
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.
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.
