Australia’s chief veterinary officer has warned that the country’s agriculture industry faces its “greatest biosecurity threat” in decades. Dr. Mark Schipp’s warning comes after Indonesia witnessed the re-emergence of foot and mouth disease (FMD) in early May, which followed an outbreak of lumpy skin disease in March and African swine fever earlier. “The incursion of three of those…
Greatest Biosecurity Threat Hovers Over Northern Australia: Chief Vet
May 17, 2022
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AustraliaBusiness & EconomyDavid Littleproudeconomic policiesfoot and mouth diseaseInternationalMark SchippWorld
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Uber Adds Charter Buses to Its US App
Uber Technologies, Inc forged a collaboration to allow its users to charter private buses and coaches through its app, the Financial Times reports. The option targets weddings or wine tours across the U.S., helping Uber expand beyond its core ride-share business. U.S. Coachways, one of the country’s most extensive bus chartering services, will offer the vehicles and…
Verizon Bumps Up Wireless Prices Citing Inflation Woes After AT&T
For the first time in two years, Verizon Communications Inc will raise prices on its wireless bills, helping it shift the burden of higher costs, Bloomberg reports. Industry watchdogs had warned that post-T-Mobile US, Inc’sacquisition of Sprint Corp, there would be fewer wireless competitors, making it easier to raise prices. Implementing higher charges under cover of surging inflation represents a ripe…
Carlyle to Buy US Defense Contractor ManTech for $3.9 Billion
May 17, 2022
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Business & EconomyCompanieseconomyLockheed MartinMarketsmergers and acquisitionsstocksU.S. antitrust enforcers
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ManTech International Corp on Monday agreed to a $3.93 billion all-cash deal with Carlyle Group Inc as the private equity firm strengthens its portfolio of U.S. defense contractors. Carlyle has offered $96 per ManTech share held, representing a 17% premium to the stock’s closing on Friday. The company’s shares were up about 15% in early…
Rebuffed by Spirit, JetBlue Goes Hostile in Takeover Bid
JetBlue launched a hostile takeover bid for Spirit Airlines on Monday and asked shareholders of the low-cost carrier to reject a proposed acquisition by Frontier Airlines. JetBlue hopes that its move will push Spirit’s board to the negotiating table after the board rejected an earlier offer. Spirit said that it will “carefully review” JetBlue’s tender…
Vodafone Shares Edge up After UAE Stake Buy Provides Support
LONDON—Shares in Vodafone edged higher on Monday as a surprise $4.4 billion investment from the UAE-based telecoms company e& provided a much needed but possibly short-term boost to the British firm’s CEO Nick Read. The company previously known as Etisalat said on Saturday it had become the largest shareholder in Vodafone with a 9.8 percent…
Ryanair Cautious About ‘Fragile’ Recovery, Berates Boeing
May 17, 2022
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BoeingBusiness & EconomyCompaniesCOVID-19economic policieseconomyEuropeMarketspassengersRussia-Ukraine WarRyanairWorld
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DUBLIN—Ryanair said on Monday it was impossible to give detailed 2022 guidance beyond hoping for a return to “reasonable profitability” amid uncertainties over COVID-19 and the Ukraine war, knocking its shares despite a smaller annual loss. Europe’s largest airline by passenger numbers also became the latest Boeing customer to criticise the planemaker. Chief Executive Michael…
EU, US Raise Cooperation to Counter Ukraine War Disruption
May 17, 2022
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Antony BlinkenBusiness & Economyeconomic policieseconomyEuropeInternationalMarketsRussiaRussia-Ukraine WarUkraineUSUS NewsWorld
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PARIS—The European Union and the United States agreed on Monday to cooperate more closely to counter disrupted supply of industrial commodities and food caused by Russia’s invasion of Ukraine. Senior EU and U.S. officials convened in Paris for the second Trade and Technology Council, a forum initially seen as a transatlantic counterweight to China, but…
Adani to Become India’s No. 2 Cement Maker With $10.5 Billion Holcim Deal
Indian conglomerate Adani Group plans to buy Holcim AG’s cement businesses in India for $10.5 billion, its largest-ever acquisition, to become the country’s No. 2 cement manufacturer. Adani Group, owned by billionaire Gautam Adani, currently has no cement-making operations but said the firms were a good fit given its ports and logistics, energy, and real…
Do Your Homework, Recognize Unfavorable Trading Conditions; Leif Soreide at 2022 FinTwit Conference
Trading is simple, but it’s not easy, and requires a lot of work. Preparation for tomorrow’s trading session begins at today’s close. The more work you put in after the close, the less thinking you will have to do after the open, Leif Soreide, Momentum/Breakout Stock Trader & Founder of Champion Team Trading, said at the 2022…
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