SINGAPORE: AM Best has downgraded the Financial Strength Rating to B+ (Good) from B++ (Good) and the Long-Term Issuer Credit Rating to “bbb-” from “bbb” of Consumer Insurance Services Limited (CISL) of New Zealand. The outlook of these Credit Ratings has been revised to stable from negative. The ratings reflect CISL’s balance sheet strength, which…
Yeahka Limited commences trading on the Hong Kong stock exchange
HONG KONG: Yeahka Limited, China’s leading payment and business service technology platform commences trading on the Main Board of Stock Exchange of Hong Kong Limited on June 1st 2020, under the stock code of 9923. CLSA, Nomura and ABCI are the joint sponsors. The total number of offer shares under the global offering amounts to…
ZF completes acquisition of commercial vehicle technology supplier WABCO
FRANKFURT: ZF Friedrichshafen AG has successfully completed the acquisition of commercial vehicle technology supplier WABCO, having gained approval from all required regulatory authorities. WABCO shares, previously listed on the New York Stock Exchange, cease public trading with immediate effect. Signalling the start of WABCO’s integration into ZF, the acquisition unites two industry leaders behind a…
MJardin terminates the acquisition of Cannabella
TORONTO: MJardin Group Inc, a leader in premium cannabis production, has terminated its previously announced acquisition of Carson City Agency Solutions, dba Cannabella, a producer of edibles and topical located in Carson City, Nevada. The acquisition, which was expected to close in late 2019, could be terminated by the parties if the transaction hadn’t closed…
Home décor retailer Pier 1 to wind down business operations
FORT WORTH: Pier 1 Imports Inc. has received approval from the U.S. Bankruptcy Court for the Eastern District of Virginia for the Company’s planned wind-down of operations. Pier 1 intends to initiate store closing efforts and liquidation sales once store locations can reopen, in compliance with COVID-19 guidelines from local government and health officials. The…
AHF slams Trump administration for abandoning World Health Organization during pandemic
WASHINGTON: AIDS Healthcare Foundation (AHF) sharply criticized the Trump administration for its announcement earlier that it is withdrawing U.S. membership in the World Health Organization (WHO) after cutting hundreds of millions in funding to the global organization in recent weeks. Despite the fact that WHO badly bungled its global COVID-19 response and abetted China’s cover…
Cromwell European REIT releases FY2019 sustainability report; achieves all ESG targets
SINGAPORE: Cromwell EREIT Management Pte. Ltd., the manager of Cromwell European Real Estate Investment Trust released sustainability report for the financial year ended 31 December 2019, wherein it is reported the Manager achieved all environmental, social, and governance (ESG) targets set by the board, and even surpassed some of them. The Manager’s Chief Executive Officer,…
AT&T announces settlement of Euro and USD bond issuances and early repayment of debt
DALLAS: AT&T Inc. continues to actively de-risk its capital structure, extending debt maturities at historically low coupons. On May 27, 2020, AT&T closed its sale of €3 billion combined principal amount of its Global Notes due 2028, 2032 and 2038. Additionally, the company announced today the settlement of $12.5 billion combined principal amount of its…
ACBJ creates small biz backer platform for small businesses to share their stories
CHARLOTTE: The fight to slow the spread of the coronavirus across America has created many economic hardships for thousands of small businesses across the nation, especially restaurants, retailers and service agencies. Many business owners have been forced to close their doors temporarily and put employees out of jobs and paychecks, while others pivoted their businesses…
Marlowe acquires Deminos Consulting Limited for £0.7m
LONDON: Marlowe plc, the specialist services group focused on developing companies which assure safety and regulatory compliance, has acquired Deminos Consulting Limited. Based in Gateshead, Deminos provides subscription-based HR & employment law compliance services to a range of SMEs across the UK. The business will be integrated into Law At Work, the Group’s HR, employment…
Over 100 macro diamonds recovered from Marsfontein bulk sample
LONDON: Botswana Diamonds has concluded the processing of two bulk samples taken from the Marsfontein diamond development project in the Limpopo Province of South Africa. The samples comprised 58-tons of fresh high-interest kimberlite and 62-tons of kimberlitic material from one of the residual stockpiles, known as ‘Dump E’. James Campbell, Managing Director commented “This bulk…
Judges Scientific acquires Heath Scientific Company for £5.3 million
LONDON: Judges Scientific, the group focused on acquiring and developing companies in the scientific instrument sector, has acquired the entire issued share capital of Heath Scientific Company Limited, a world leading maker of calorimetry instruments. The initial consideration for Heath is £5.3 million in cash. The consideration for the Acquisition has been financed from the…