Sun, Jun 10, 2018 - Page 16 News List

World Business Quick Take



Producer inflation picks up

Producer inflation picked up for the second month in a row last month, while consumer inflation held steady from the previous month, official data showed yesterday. The producer price index rose 4.1 percent from a year earlier and 0.4 percent from the previous month the National Bureau of Statistics said. The consumer price index rose 1.8 percent from a year earlier but declined 0.2 percent month-on-month.


Vale sells cobalt futures

Vale SA reached an agreement to sell future production of cobalt as battery makers look to shore up supply of the metal amid a nascent electric-vehicle boom, people with knowledge of the matter said. The deal is for about US$700 million of cobalt to be produced at the Voisey’s Bay complex in Canada that predominately churns out nickel, the people said. Cobalt is a key ingredient in lithium-ion batteries.


Dialog, Synaptics talk deal

Dialog Semiconductor PLC is in discussions with touch-pad technology maker Synaptics Inc about a potential deal with the US company, people familiar with the matter said. Exploratory talks about a combination are ongoing and may not lead to an agreement, the people said. Dialog has a market value of about 1.15 billion euros (US$1.35 billion), while Synaptics is valued at US$1.6 billion.


BMC seeks cloud purchases

BMC Software Inc is to revamp itself into a cloud competitor by aggressively seeking acquisitions in a bid to better rival ServiceNow Inc in the first sign of the company’s direction under private equity firm KKR & Co. Houston-based BMC is to pursue cloud software makers in a few key areas, BMC president of cloud and enterprise Bill Berutti said. KKR agreed to buy BMC for US$8.3 billion including debt, Bloomberg News reported last week.


Verizon names next CEO

Verizon Communications Inc’s CEO is retiring and will be succeeded by its chief technology officer, who is the former CEO of Ericsson AB. Lowell McAdam, who served as Verizon’s chief executive for seven years, will remain as its chairman through year’s end and become a non-executive chairman after that time, the firm said on Friday. Hans Vestberg is to take over as Verizon CEO on Aug.


Building hits frenetic pace

Canadian builders are running at full tilt. The capacity utilization rate in the nation’s construction industry reached 92.4 percent in the first quarter, Statistics Canada said on Friday. That is the highest level since 1990, up by 1.6 percentage points from the fourth quarter of last year. For all industries the rate climbed to 86.1, the highest since the first quarter of 2006, it said.


Stocks rise on IMF deal

Argentina’s stock market rose 4.15 percent while its currency fell 1.68 percent against the US dollar on Friday, a day after Buenos Aires agreed to a US$50 billion stand-by loan from the IMF. During the week, the leading Merval index rose 10.5 percent, while the peso lost 2.3 percent and closed at 25.98 pesos per US dollar on Friday.

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