Profitloss Centerstage Events

Firstar agreeing to acquire U.S. Bancorp for $18.9 billion, and positioning itself as the eighth-largest bank-holding company in the United States takes the centerstage among all global events which has happened over this week.
Picture Courtesy: Profit loss

Centerstage events of week 1

Gulf Canada Resources Ltd. has reached an agreement to purchase...

Gulf Canada Resources Ltd. has reached an agreement to purchase Crestar Energy Inc. for approximately CAD 1.54 billion (USD 1.02 billion) in a combination of cash and stock, equivalent to around CAD 26.97 per share. In a friendly acquisition, Gulf Canada stated that the deal would establish it as the 11th-largest independent oil and natural gas producer in North America.

Monday, 2 October, 2000

After weeks of rumors regarding his health issues and a...

After weeks of rumors regarding his health issues and a disagreement with the president over a nuclear power plant, Premier Tang Fei has tendered his resignation, bringing an end to the speculation. Following a brief meeting with President of Taiwan, Chen Shui-bian, Mr. Tang declared his immediate resignation, citing his health as the primary reason. He expressed gratitude to the President for accepting his request to step down.

Tuesday, 3 October, 2000

EMI and Warner Music Group have withdrawn their application for...

EMI and Warner Music Group have withdrawn their application for a proposed $20 billion merger from the European Commission due to regulatory concerns. If approved, the merger would have resulted in 80% of the European music industry being controlled by just four major labels.

Wednesday, 4 October, 2000

In keeping with the recent trend of significant bank mergers,...

In keeping with the recent trend of significant bank mergers, Firstar has agreed to acquire U.S. Bancorp for $18.9 billion, positioning itself as the eighth-largest bank-holding company in the United States and a dominant player in the financial services industry across the Midwest.

Thursday, 5 October, 2000

Eleven members of the United Nations Security Council are set...

Eleven members of the United Nations Security Council are set to depart for Sierra Leone to assess the UN mission's effectiveness and explore solutions to improve stability in the region.

Friday, 6 October, 2000

Article27, a startup that aims to capitalize on the internet's...

Article27, a startup that aims to capitalize on the internet's capacity to target specific pockets of consumers. The company is working swiftly to obtain the rights to independent, specialized films and syndicate them to Internet portals and video-on-demand providers. With over 230 titles to their name so far, including documentaries and children's programming, Article27, based in London and accessible through their website caters to niche audiences beyond mainstream tastes.

Saturday, 7 October, 2000

Argentina's vice president, Carlos Alvarez resigns! It is is an...

Argentina's vice president, Carlos Alvarez resigns! It is is an unexpected setback for a government struggling to revive a faltering economy. On Friday, Alvarez, citing a "deep moral crisis" in the government, resigned in protest of President Fernando de la Rua's failure to distance himself from administration officials allegedly implicated in a Senate bribery scandal. The resignation surprised politicians across the political spectrum, but de la Rua and Alvarez both stated their intent to continue working together to maintain the Alianza coalition between de la Rua's centrist Radical party and Alvarez's left-of-center Frepaso party.

Sunday, 8 October, 2000