Profitloss Centerstage Events

The announcement by Morocco to rejoin the African Union took centerstage on Tuesday, 19 July 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

Morocco formally expresses its desire to rejoin the African Union...

Morocco formally expresses its desire to rejoin the African Union (AU) after 32 years of absence. King Mohammed VI sends a message to the AU summit in Rwanda, stating that the time has come for Morocco to reclaim its place within the institutional family. Morocco left the AU in 1984 due to the organization's recognition of the independence of Western Sahara, a region described by Moroccans as their country's "southern provinces."

Monday, 18 July, 2016

Unilever acquires Dollar Shave Club, a US start-up, for a...

Unilever acquires Dollar Shave Club, a US start-up, for a reported $1 billion in cash. This acquisition allows Unilever, a consumer goods company, to enter the competitive male grooming market. Dollar Shave Club's direct-to-consumer model, offering affordable shaving products and a subscription service, has gained popularity with 3.2 million members. Unilever's move reflects its strategic focus on expanding its product portfolio and targeting new consumer segments.

Tuesday, 19 July, 2016

PayPal and Visa reach an agreement that enables PayPal to...

PayPal and Visa reach an agreement that enables PayPal to be used as a payment option in stores via smartphones. Additionally, PayPal users can now instantly withdraw funds from their peer-to-peer payments service, including Venmo, by linking it to their Visa debit cards. This collaboration resolves past negotiations and provides PayPal with certainty regarding the fees it pays to Visa. It enhances the convenience and versatility of PayPal's mobile payment offerings.

Wednesday, 20 July, 2016

Brazil's state-run energy company, Petrobras, plans to sell a controlling...

Brazil's state-run energy company, Petrobras, plans to sell a controlling stake in its fuel distribution subsidiary, BR Distribuidora, as part of its capital-raising efforts and debt reduction strategy. The sale is crucial for Petrobras to regain investor confidence. BR Distribuidora operates approximately 7,500 gas stations across Brazil. Despite earlier attempts to sell a minority stake, the company now seeks a buyer for a controlling interest in the subsidiary.

Thursday, 21 July, 2016

French cosmetics company L'Oréal announces its acquisition of IT Cosmetics,...

French cosmetics company L'Oréal announces its acquisition of IT Cosmetics, a US-based beauty brand, in a cash deal worth $1.2 billion. The purchase expands L'Oréal's product portfolio with over 300 beauty offerings from IT Cosmetics. With increasing net sales and a strong presence on various shopping channels and retailers, IT Cosmetics has experienced significant growth in recent years. L'Oréal's acquisition aims to strengthen its position in the global cosmetics market.

Friday, 22 July, 2016

Nepal's Prime Minister Khadga Prasad Oli resigns moments before a...

Nepal's Prime Minister Khadga Prasad Oli resigns moments before a no-confidence vote in parliament, which he was likely to lose. The move follows the withdrawal of coalition allies who accused Oli of not honoring power-sharing agreements that facilitated his assumption of office in October 2015. Oli's resignation reflects the ongoing political dynamics and challenges faced by Nepal's coalition government, potentially leading to a new leadership and potential realignments in the country's political landscape.

Saturday, 23 July, 2016

Verizon Communications acquires Yahoo! for $4.83 billion in cash, marking...

Verizon Communications acquires Yahoo! for $4.83 billion in cash, marking the end of Yahoo!'s independent existence after more than 20 years. This deal allows Verizon to expand its digital media and advertising capabilities by integrating Yahoo!'s online properties, such as Yahoo! Mail, Yahoo! News, and Yahoo! Sports. It signifies Verizon's strategic move to strengthen its position in the competitive digital content and mobile markets.

Sunday, 24 July, 2016