Americas
Headlines
Caps on groundwater use create a new market in California
A LONG STRETCH of highway running between Los Angeles and San Francisco separates the dry hills to the west from the green plains of the San Joaquin Valley to the east, where much of America’s fruit, nuts and vegetables are grown. Every couple of miles billboards hint at the looming threat to the valley. “Is growing food a waste of water?” one...
The legal cannabis market shrank in California last year
HARBOURSIDE CANNABIS in Oakland is a modern-day temple to the delights and possibilities of the botanical marvel that is the plant Cannabis sativa. Around the airy shop move a well-heeled clientele. They browse among offerings ranging from cannabis-infused chocolate to sparkling water and vape pens. California was the first state to allow sales of medical...
Adventures with long-shot candidates
NEARLY TWO dozen presidential candidates descended on Iowa’s State Fair, which began on August 8th, each with a different style and number of supporters. Elizabeth Warren’s were young, loud and pre-loaded with chants. Kamala Harris’s formed a yellow-shirted, fresh-faced, hyper-enthusiastic wave that left stickered, dazed-looking Iowans in its...
Should America rule out first use of nuclear weapons?
PRESIDENT BARACK OBAMA promised that he would reduce the role that nuclear weapons played in America’s national security strategy. His successor has done the opposite. In a review of nuclear policy published in February 2018, Donald Trump seemed to expand the circumstances in which America might use nuclear weapons first, to include cyber-attacks...
Why America’s biggest charities are owned by pharmaceutical companies
WHEN A PATIENT in need of a drug in America goes to fulfil their prescription, the price they have to pay can vary wildly. For generic off-patent drugs, prices are usually low for the uninsured and free for those with insurance. But for newer, patent-protected therapies prices can be as high as several thousand dollars per month. Those without...
Finance
Pendo Systems name Ruth Wandhöfer, a globally recognized banking expert, to their Board of Directors
Pendo Systems is proud to announce that Ruth Wandhöfer, Global Head of Regulatory and Market Strategy at Citi, has joined their board. Ms. Wandhöfer is a banking regulatory expert and one of the foremost authorities on transaction banking regulatory matters. Her reputation has been built around her ability to drive regulatory and industry dialogue...
Implications of the money laundering law reform
The amendment to the money laundering law approved in the first debate requires accountants, lawyers and real estate agents to report suspicious transactions made by their clients.Bill 19.951 reforming the Law on Narcotic Drugs, Psychotropic Substances, Drugs of Unauthorized Use, Related Activities, Legalization of Capital and Financing of Terrorism...
Wall Street finishes flat ahead of earnings season, key US-China meeting
It was a fairly flat session on Wall Street overnight, as investors exercised caution ahead of the first-quarter earnings season and a meeting between the US and Chinese presidents later this week. Investors will be focussed on the potentially tense meeting between Donald Trump and Xi Jinping on Thursday and Friday, after Mr Trump held out the possibility...
GLC Advisors Strengthens Advisory and M&A Expertise with Addition of Senior Bankers
Addition of Several Industry Bankers Including Former St. Charles Capital Professionals Deepens Firm’s Expertise and Relationships Across Technology, FIG, Consumer, Retail and Energy IndustriesGLC Advisors & Co., LLC (“GLC Advisors”) is pleased to welcome nine seasoned M&A professionals, including former Partners and professionals of Denver based...
Columbia Threadneedle opens office in Chile
Columbia Threadneedle Investments has opened its first Latin American office in Santiago, Chile. As its first proprietary distribution hub for the Andes (Chile, Peru and Colombia), the new office will serve the asset manager’s institutional and wholesale clients in the region. Columbia Threadneedle has also appointed Santiago Zarauza Riestra...
Legal
The growth and expansion of streaming services
The source of our television services is significantly changing from traditional cable and television services to online providers. The actively changing television service landscape is because of the growth of over-the-top (“OTT”) media services. Growing Popularity According to a report (the “CRTC Report”) by the Canadian Radio-Television and...
The anatomy of an alternative mutual fund: dissecting the alternative investment vehicle following recent CSA amendments
Traditionally, commodity pools existed as unique investment vehicles which, contrary to other Canadian public investment funds, were excluded from the investment restrictions and limitations codified in National Instrument 81-102 Investment Funds (NI 81-102). Earlier this year, as part of the final phase of its Modernization of Investment Fund Product...
Legal update: branches of a corporation are one and the same
In a recent unanimous decision of the full bench in 1068754 Alberta Ltd v Quebec (Agence du revenue) (1068754 Alberta Ltd.), the Supreme Court of Canada has upheld Quebec tax officials’ authority to demand information from a national bank that operates in multiple provinces including Quebec and Alberta, thereby asserting that different branches of...
5G technology driving M&A activity in the telecommunications sector
The much anticipated rollout of fifth-generation wireless (“5G”) technology and changing consumer habits are expected to drive M&A transactions in the telecommunications sector over the next year. According to EY’s May 2019 Global Capital Confidence Barometer (the “EY Report”) 55% of telecommunications executives expect to actively pursue...
Merge with caution: the future of food delivery services
The convenience and efficiency of meal ordering applications (“apps”) has led to a rapid development in food delivery services. However, despite the ever-growing popularity of online takeout, the increase in food-delivery companies and the decrease in restaurants offering food delivery service is slowing the growth of what could be a lucrative market....
Deals
PTO Exchange reels in $3 mln seed
PTO Exchange, a flexible benefits platform, has secured $3 million in seed funding. The backer was WestRiver Group.Read More
Fearless Fund launches $5 mln venture fund
Fearless Fund has launched a $5 million venture fund. The fund invests in businesses owned by women of color. Arian Simone and Keshia Knight Pulliam are founding partners.Read More
PE-backed Sea Link buys Hicks Plastics
Sea Link International, a portfolio company of New Water Capital LP, has acquired Macomb, Michigan-based Hicks Plastics Company, a provider of injection molded and metallized automotive forward lighting components. No financial terms were disclosed.Read More
CoveMark invests in Capra Foods
CoveMark has made an investment in Texas-based Capra Foods, a provider of lamb products. No financial terms were disclosed. Read More
Grain to take majority stake in Hunter
Grain Management LLC has agreed to acquire a majority interest in Oregon-based Hunter Communications Inc, an owner and operator of a fiber optic network. No financial terms were disclosed. Bank Street Group LLC served as financial adviser to Hunter Communications on the deal.Read More
Acq Lite
Eni deal a testament to Abu Dhabi's attraction
March 12 (UPI) -- In what's nearly a $1 billion commitment, Italian energy company Eni said it made its Emirati debut in an agreement with the Abu Dhabi National Oil Company.Eni signed agreements to acquire minority shares in the Lower Zakum, Umm Shaif and Nasr offshore fields from state-run ADNOC for a total fee of $875 million."The stakes in the two...
Statoil using mega-rig to tap frontier North Sea area
March 12 (UPI) -- Norwegian energy company Statoil will move a deepwater drilling rig to the North Sea to tap a prospect awarded more than 30 years ago, a regulator said Monday.The Norwegian Petroleum Directorate gave Statoil consent to move the Deepsea Atlantic drilling rig to a section of the North Sea to tap into a prospect awarded to the company...
German green energy segment Innogy divvied up
March 12 (UPI) -- German utility company E.ON is now in control of the renewable energy segment created by its rival, RWE, in a landmark, multi-billion dollar deal, they said.In a joint statement, E.ON said it reached an agreement in principle with RWE to acquire more than three quarters of the stakes in renewable energy entity Innogy, an offshoot from...
Russia test-fires Kinzhal hypersonic missile
March 11 (UPI) -- A Russian jet successfully test-lauched a hypersonic missile Sunday, the Russian Defense Ministry said.The Kinzhal hypersonic missile was launched from an MiG-31 interceptor jet, which departed from an airfield in the Southern Military District, Russia's TASS News Agency reported."A MiG-31 fighter crew of the Russian Aerospace Forces...
Huntington Ingalls contracted for further repairs on USS Fitzgerald
March 9 (UPI) -- Huntington Ingalls was awarded a contract from the U.S. Navy to continue repairs on the USS Fitzgerald.The deal, announced Thursday by the Department of Defense, is valued at more than $77.5 million under the terms of a cost-plus-fixed-fee contract, which is a modification to a previous award.The modified contract between the U.S. Navy...