KENILWORTH: Merck, known as MSD outside the United States and Canada, announced the appointment of Deborah H. Telman as General Counsel for Organon & Co., its intended spinoff of its women’s health, legacy brands and biosimilars businesses. In her new role, Deb will act as senior legal advisor to the Board of Directors, Chief Executive…
Sur La Table to restructure and complete a going-concern sale via voluntary Chapter 11 process
SEATTLE: Sur La Table announced that it has filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey to consummate a restructuring and going-concern sale of the Company, subject to Court approval. With the support of its lenders, Sur La Table has secured…
FogChain enters LOI to merge/amalgamate with EdTech concern Global Star Education Group
VANCOUVER: FogChain Corp. announced that it has entered into a letter of intent (LOI) with Global Star Education Group Limited pursuant to which FogChain will acquire all of the outstanding shares of Golden Star pursuant to a merger, amalgamation or some other form of business combination which will constitute a fundamental change of the Company…
Persado’s AI-based language platform delivers triple-digit lift for mortgage firm Mr. Cooper
NEW YORK: Persado, the leading AI-platform that unlocks the value of the right words at every customer interaction, announced it has signed a long-term agreement with Mr. Cooper, the nation’s largest non-bank mortgage servicer, to help customers uncover more cost-effective options when managing their finances. Based on early testing, Persado’s multi-channel engagement delivered a 74%…
VSBLTY partners with Synect to provide real time analytics for airports
PHILADELPHIA: VSBLTY Groupe Technologies Corp., a leading provider of security and retail marketing technology, announced the signing of an agreement with Synect, a digital strategy and content creation agency that enables video displays of unlimited size and scale in airports throughout the country. The announcement was made by VSBLTY Co-founder and CEO Jay Hutton, who…
AM Best affirms credit ratings of Wright National Flood Insurance
OLDWICK: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit of “a-” of Wright National Flood Insurance Company (WNFIC) (San Antonio, TX). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect WNFIC’s balance sheet strength, which AM Best categorizes as strongest, as well as its…
Olam secures third medium-term Samurai loan facility of JPY 25 billion
SINGAPORE: Leading global food and agri-business, Olam International announced that its wholly owned subsidiary, Olam Treasury Pte. Ltd. (OTPL), has secured a medium-term samurai loan facility aggregating JPY 25 billion in the Japanese market. N Muthukumar, Managing Director and Group CFO of Olam said: “We are extremely pleased to return to the Japanese loan market…
SGX reports market statistics for June 2020
SINGAPORE: Singapore Exchange (SGX) released its market statistics for June 2020. Global financial and commodity markets reflected optimism from the reopening of major economies, even as concern that new COVID-19 infections could stymie growth continued to drive demand for risk management. Total securities market turnover value on SGX rose 74% year-on-year (y-o-y) in June to…
PIA resumes its flight operations to UAE
KARACHI, PAKISTAN: Pakistan International Airlines (PIA) resumes its regular flight operations to UAE from Thursday and tickets are already up for grabs, PIA Spokesman said on Wednesday evening. Now PIA passengers will be able to travel from Pakistan to Dubai, Sharjah, Abu Dhabi and Al ain and vice versa through airline’s regular flights. He added…
Metro Bank Plc appoints Robert Sharpe as Chairman
LONDON: Metro Bank announced the appointment of Robert Sharpe as Chairman. It is anticipated that Robert will commence the role from 1 November 2020, subject to regulatory approval. He will succeed Sir Michael Snyder, who was appointed Interim Chairman in October last year while a thorough search and selection process for a permanent successor was…
Uranium specialist Yellow Cake Plc begins $10 million share buyback programme
LONDON: Yellow Cake, a specialist company operating in the uranium sector with a view to holding physical uranium for the long term, announced the initiation of its enlarged share buyback programme to purchase up to US$10 million of the Company’s Ordinary Shares over three months, commencing on 8 July 2020. This follows the sale of…
Ørsted and TSMC sign the world’s largest renewables corporate power purchase agreement
LONDON: Ørsted A.S and Taiwan-based TSMC have signed a corporate power purchase agreement (CPPA). TSMC will offtake the full production from Ørsted’s 920MW Greater Changhua 2b & 4 offshore wind farm, making it the largest-ever contract of its kind within renewable energy. The 20-year fixed-price contract period starts once Greater Changhua 2b & 4 reaches…