Profitloss Centerstage Events

A referendum to retain the current national flag in New Zealand took center stage on Thursday, 24 March 2016 among all major events across the globe, and remains the highlight of this week's list of center stage events.
Picture Courtesy: Profit loss

Centerstage events of week 3

Emerald Oil Inc., an oil and gas exploration company, files...

Emerald Oil Inc., an oil and gas exploration company, files for bankruptcy protection due to the prolonged period of low oil prices. The Denver-based company and its affiliates seek Chapter 11 protection as a means to restructure their finances. The challenging market conditions have led to a significant number of oil and gas companies resorting to bankruptcy filings, and the trend is anticipated to continue in the current year.

Monday, 21 March, 2016

Exelon Corp. successfully completes its $6.8 billion acquisition of Pepco...

Exelon Corp. successfully completes its $6.8 billion acquisition of Pepco Holdings Inc. following the final approval from regulators in the District of Columbia. The merger creates one of the largest publicly traded utilities in the United States. The deal faced regulatory hurdles due to concerns about potential higher power prices, but the companies modified their terms to address these concerns, leading to the final approval.

Tuesday, 22 March, 2016

New Zealanders vote in a referendum to retain their current...

New Zealanders vote in a referendum to retain their current national flag instead of adopting the proposed design. With over 2 million votes cast, the referendum results indicate a preference for maintaining the existing flag. The decision holds significance for national identity and reflects the democratic process of allowing citizens to participate in shaping the country's symbols.

Wednesday, 23 March, 2016

Terex Corp. announces that it will engage in negotiations with...

Terex Corp. announces that it will engage in negotiations with Zoomlion Heavy Industry Science & Technology Co. after the Chinese company raises its offer for the U.S. construction-crane maker to $3.4 billion. Terex's board maintains its recommendation for an all-stock merger with Konecranes Oyj but wants to explore the binding purchase agreement proposed by Zoomlion. The situation highlights the competitive landscape in the construction industry and potential consolidation among major players.

Thursday, 24 March, 2016

California legislators and labor unions reach an agreement to increase...

California legislators and labor unions reach an agreement to increase the state's minimum wage from $10 to $15 an hour, setting the stage for the highest statewide minimum wage in the United States. The proposal, part of a minimum-wage bill, will be presented to the Legislature. The gradual increase over time aims to provide improved wages and economic stability for workers in the state.

Friday, 25 March, 2016

The Israel Supreme Court rules against an offshore-gas deal, impacting...

The Israel Supreme Court rules against an offshore-gas deal, impacting the development of gas reserves. The decision revolves around a stability clause sought by energy companies to ensure the viability of investments. The court's ruling introduces uncertainty to the development process and potential economic ties with neighboring countries. Israel possesses significant gas reserves, making the exploration and extraction of these resources crucial for its economic growth and national security.

Saturday, 26 March, 2016

Affymetrix, a provider of cellular and genetic analysis products, rejects...

Affymetrix, a provider of cellular and genetic analysis products, rejects a rival bid to Thermo Fisher's merger plan and proceeds with Thermo Fisher's acquisition for $14.00 per share in cash. The transaction, valued at approximately $1.3 billion, receives unanimous approval from both companies' boards of directors. The deal aims to enhance Thermo Fisher's offerings in the field of genetic analysis and strengthen its position in the market.

Sunday, 27 March, 2016