Posts Tagged ‘Americas’
CHICAGO – Burger King Holdings Inc., Americas perennially No. 2 hamburger chain, said Thursday that it is selling itself to little-known private equity firm 3G Capital in a deal valued at $3.26 billion.
Its shares soared to an 18-month high.
SHANGHAI – After three decades of spectacular growth, China passed Japan in the second quarter to become the worlds second largest economy behind the United States, according to government figures released early Monday.
The recognition came early Monday, when Tokyo said that Japans economy was valued at about $1.28 trillion in the second quarter, slightly below Chinas $1.33 trillion.
SAO PAULO – Two of South Americas biggest airlines, Chiles LAN and Brazils TAM, on Friday announced they planned to merge to create Latin Americas largest carrier.
The news sent shares in TAM soaring 30 percent on the Sao Paulo stock market. LAN shares leapt nearly eight percent in Santiago.
The new parent group would be called LATAM Airlines but the separate TAM and LAN logos would be maintained on aircraft in each country, the airlines said in a joint statement.
SAO PAULO – Brazils economic boom is providing much-needed support to the worldwide private jet sector, which was savaged by last years global downturn, manufacturers exhibiting their aircraft in Sao Paulo said Thursday.
Latin Americas powerhouse is helping to shake off a disastrous 2009 that saw sales of executive jets slump amid a fire sale of second-hand planes on the market and a rush by purchasing companies to cancel contracts.
JEDDAH – When Eyjafjallajokull erupted last spring, a significant portion of Europes air space was shut down by ash, and the worlds eyes were on the airline industry. Less noticed was the impact on global supply chains. One volcano highlighted how tightly integrated global supply chains are around the world.
On a larger, more significant and drawn out scale, the global economic crisis of 2008 and 2009 provided significant disruptions and high demand volatility in supply chains for companies across many industries. In a number of sectors, demand and supply almost came to a halt, forcing companies to enact short-term measures to tightly manage inventories, costs, and cash flow.
NEW YORK – As dozens of US billionaires pledge their fortunes to charity and the country struggles to shake off recession, philanthropy is a growing status symbol of the rich, experts say.
Being wealthy may no longer be about how many properties or fast cars a millionaire owns – it could be about how much money they are giving away – bringing hope to charities that Warren Buffett and Bill Gates philanthropic push inspires others.
“It will be something thats very important to the wealthy – to be able to say: I give my money away as much as I spend it in all these other exciting ways,” said Stacy Palmer, editor of the Chronicle of Philanthropy.
JEDDAH: Public and private institutions, including Saudi Aramco and King Abdulaziz City of Science and Technology (KACST), have organized various educational and entertainment programs for Saudi students to help them make use of the summer holidays in a constructive manner.
KACSTs two-week program attended by 40 talented students focused on nanotechnology. There were lectures by experts on the history and development of nanotechnology and its applications. Students were encouraged to come up with ideas on how to develop the technology to use it for various purposes.
ALKHOBAR: It is likely that a large number of Saudi families who have already left the Kingdom or planning to leave shortly for their annual summer vacation abroad will need to contact the Saudi diplomatic missions in the countries they are visiting if they are in need of assistance for whatever reason.
However, several citizens have complained about the bad experiences they have had with certain Saudi embassies abroad, Al-Riyadh daily reports. Fortunately, they appear to be in the minority.
BEIJING – Chinese and German companies signed deals worth billions of dollars to make trucks and power equipment Friday as the prime ministers declared their countries economies had recovered from last years global recession.
German Chancellor Angela Merkel brought the heads of major German corporations with her on a four-day visit to China, underscoring the robust business ties between the two export powerhouses.
WASHINGTON – US Congress passed a sweeping overhaul of Americas financial regulations Thursday, securing for President Barack Obama his third major, hard-fought legislative victory.
The White House said Obama likely would sign the bill next week.
He said passage of the giant crackdown on the financial sector will provide long deserved economic security to American families and businesses. The legislation cracks down on banks and Wall Street in the hopes of avoiding another major financial meltdown. The Senates 60-39 vote came nearly two years after a financial crisis knocked the US economy to its knees.