OTTAWA: Canadian Airports Council has sought more support for the short and long term viability of Canada’s airports. Throughout this crisis, airports have remained open to repatriate Canadians, safely move goods and essential workers, and facilitate medevac and other important services. Joyce Carter, Canadian Airports Council chair and president and CEO of Halifax Stanfield International…
All posts in Wire
3M completes sale of its drug delivery business
BOSTON: 3M has announced that it has completed the sale of substantially all of its drug delivery business to an affiliate of Altaris Capital Partners, LLC., for approximately $650 million in total. The consideration includes cash, an interest-bearing security, and a 17 percent noncontrolling interest in the new company, Kindeva Drug Delivery that will operate…
FanDuel Sportsbook launched in Colorado
BLACK HAWK: FanDuel Group has announced the launch of the FanDuel Sportsbook app and online experience in Colorado. In partnership with Twin River Worldwide Holdings and Golden Gates Casino Black Hawk, Colorado is the fifth state in the United States where the industry-leading FanDuel Sportsbook online and mobile platform is available. FanDuel is bringing its…
Global smartphone shipments decline 17 percent in Q1 2020
BOSTON: According to the latest research from Strategy Analytics, global smartphone shipments fell 17 percent annually to reach 275 million units in the first quarter of 2020. This is the smartphone industry’s worst quarterly performance of all time. Samsung maintained first position with 21 percent global smartphone market share, Huawei held steady at 18 percent,…
Walmart hires 200,000 associates and pays $180 million in early associate bonuses
BENTONVILLE: Donna Morris, Chief People Officer at Walmart made the following announcement: “We’ve seen firsthand our associates’ unwavering focus to take care of customers and members while providing a vital service to communities. In this unprecedented period of time, we have made several commitments focused on our associates and wanted to provide an update on…
Rostelecom adds e-signature solution SIGN.ME to its digital ecosystem
MOSCOW: Rostelecom PJSC has acquired an interest in SIGN.ME, an e-signature platform developer, and will start to roll out the mobile e-signature service across its client base. The new solution fits organically into the company’s digital ecosystem of services, just as the global shift to remote working has accelerated due to the Covid-19 pandemic. SIGN.ME…
SICO BSC bids to acquire majority stake in Muscat Capital LLC
MUSCAT: Bank Muscat SAOG has received in-principle interest from SICO BSC (c), a Bahrain based regional asset manager and investment bank, to acquire a majority shareholding in Muscat Capital LLC. Muscat Capital is a Saudi Single Shareholder Closed Joint Stock Company, licensed by the Saudi Capital Market Authority and wholly-owned subsidiary of Bank Muscat with…
Agreement between BBVA and Allianz to develop non-life insurance business in Spain
MADRID: Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) has reached an agreement with Allianz Compañía de Seguros y Reaseguros, S.A. in order to create a bancassurance partnership, for the purpose of developing the non-life insurance business in Spain, excluding the health insurance line. The Transaction will be implemented through the creation by BBVA Seguros, S.A., de…
Fuel50 launches FuelMarketplace to support talent redeployment and workforce agility
LONDON: Fuel50, creator of the world’s fastest-growing talent experience platform, announced the launch of FuelMarketplace, an internal talent mobility tool that supports organizations in redeployment, restructuring and workforce agility to meet rapidly changing business demands. Powered by Fuel50’s fully-automated career framework and AI engine, FuelMarketplace is designed to bring flexibility to an organization’s talent strategy…
New Pennsylvania legislation would help pave the way for security deposit elimination
MARINA DEL REY – (BUSINESS WIRE) – LeaseLock, the only provider of a nationwide A-rated lease insurance program, announced a bill laying the groundwork for security deposit elimination in Pennsylvania has been introduced in the state’s General Assembly. Similar to Cincinnati Renter’s Choice law that recently went into effect, Pennsylvania House Bill 2427 would require…
Total acquires Tullow’s entire interests in the Uganda Lake Albert Project
PARIS –(BUSINESS WIRE)– Total S.A and Tullow Oil Plc have entered into an Agreement, through which Total shall acquire Tullow’s entire interests in Uganda Lake Albert development project including the East African Crude Oil Pipeline. The overall consideration paid by Total to Tullow will be $575M, with an initial payment of $500M at closing and…
Huawei announces Q1 2020 business results
BEIJING, CHINA: Huawei announced its business results for the first quarter of 2020. In Q1 of this year, Huawei generated US$ 25.7 billion in revenue approximately, an increase of 1.4% year-on-year. The company’s net profit margin in Q1 2020 was 7.3%. As COVID-19 continues to spread around the world, Huawei is taking proactive measures to…