Americas
Headlines
How to await the apocalypse in style
RON HUBBARD sells high-end fallout shelters, and business is booming. Just $144,999 (fiat currency, not gold), buys a 500-square-foot, sandblasted, tar-coated, modular fallout shelter with a bulletproof hatch, decontamination shower, gas-tight interior doors, L-shaped entry “to attenuate gamma radiation”, kitchen, bathroom, sleeping space for a...
Bolivia’s Evo Morales faces his toughest re-election battle yet
“BOLIVIA IS AN insurrectionary nation,” declares Norma Berno, a tiny woman with piercing eyes at a “rally for democracy” on October 10th in La Paz, the administrative capital. In the early 2000s she demonstrated in favour of nationalising Bolivia’s large gas reserves, a cause whose popularity paved the way for Evo Morales, a coca farmer and...
The cost of Ecuador’s surrender on fuel subsidies
IT IS BECOMING a familiar story. In the aftermath of the South American commodity boom, a centrist president has to repair economic damage caused by a leftist populist and, either because of technical or political mistakes, botches the job. The IMF is blamed for measures that would be even more painful without its money. It has happened in Argentina....
If the Peronists win in Argentina, which Fernández will be in charge?
TRES DE FEBRERO, a grimy industrial suburb of Buenos Aires, is named for the date of a battle that took place nearby in 1852. The victorious general, Justo José de Urquiza, went on to promulgate Argentina’s federalist constitution. Today the district is a battleground in a national election whose result could be nearly as momentous. It pits President...
Home improvement for troglodytes
RON HUBBARD sells high-end fallout shelters, and business is booming. Just $144,999 (fiat currency, not gold), buys a 500-square-foot, sandblasted, tar-coated, modular fallout shelter with a bulletproof hatch, decontamination shower, gas-tight interior doors, L-shaped entry “to attenuate gamma radiation”, kitchen, bathroom, sleeping space for a...
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
CANADA’S COMPETITION BUREAU IS KEEPING AN EYE ON SMALL M&A DEALS
The Competition Bureau (the “Bureau”) is required to review certain merger transactions that exceed various financial thresholds, based on the size of the business being acquired and the combined size of the buyer, the target business, and their affiliates. The notification thresholds under the Competition Act (the “Act”) are discussed in more...
Chamber of Digital Commerce Releasing the First Ever Comprehensive Report on Canada’s Blockchain Ecosystem
Over the last decade in which the digital economy has grown at an unprecedented pace across industry sectors, blockchain technology and distributed ledger technology have shown the ability to reform the ways in which businesses and governments operate. To better understand Canada’s blockchain ecosystem, on October 4, 2019, the Chamber of Digital Commerce...
Emerging Trends in Information Technology (IT) Mergers and Acquisitions
Canada’s burgeoning information technology (IT) sector is a standout in the Canadian mergers and acquisitions landscape. A recent report by Duff & Phelps illustrates that in the first half of 2019, IT was the third most active deal-making sector in Canada with over 104 closed transactions. Against this backdrop, three trends emerge: ‘Buying...
New guidance on material climate change disclosure for reporting issuers
On August 1, 2019, the Canadian Securities Administrators (CSA) released CSA Staff Notice 51-358 in efforts to clarify the scope of disclosure for reporting issuers, specifically for smaller issuers. Securities law in Canada requires reporting issuers to disclose material risks affecting their business and, where applicable, the financial impacts of...
Ethical consumerism: a new driver of M&A in the beauty and clothing industries
In a previous post, we discussed the rise of M&A activity in the meat and dairy sector as consumer tastes change and concern for the environment becomes more widespread. Industry experts believe that this trend, namely of ethical brands driving M&A, is much broader than the food and beverage space. Beauty, clothing and apparel and...…...
Deals
Vorteq acquires Western Metal Decorating
Vorteq Coil Finishers LLC has acquired Rancho Cucamonga, California-based Western Metal Decorating, a producer of coated aluminum and steel products. No financial terms were disclosed. Vorteq is backed by Peninsula Pacific.Read More
Aybuben Ventures unveils Armenian tech fund
Aybuben Ventures has launched a $50 million fund focused on Armenian tech entrepreneurs. The fund will make investments between $500,000 and $3 million.Read More
Motiv Power Systems lands $60 mln Series B
San Francisco Bay Area-based Motiv Power Systems, a provider of all-electric medium-duty chassis for buses and trucks, has secured $60 million in Series B funding. GMAG Holdings Corp and Winnebago led the round.Read More
New U Venture Partners targets $52 mln for fund
New U Venture Partners is seeking to raise $52 million for its new fund, according to an SEC filing. The Salt Lake City-based venture firm invests in higher education.Read More
VSS invests in Powerhouse
VSS has closed its minority investment in Crowley, Texas-based Powerhouse, a provider of nationwide construction services, facilities upkeep and retail store rollouts to businesses and customers in the facilities services market. No financial terms were disclosed for the transaction that was done in connection with Lincolnshire Management's acquisition...
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...