Global News

"Cielo, Brazil's largest card payment processor, will buy for Merchant e-Solutions, a US provider of card payment processing solutions for $670 million. "

"Technology distributor Ingram Micro Inc has agreed to buy wireless device distributor BrightPoint Inc for about $650 million in cash in order to expand in new growth areas due to the dwindling sales of personal computers. "

"German industrial gas producer Linde AG announced Sunday that it will acquire Lincare Holdings Inc, a Florida-based provider of oxygen and respiratory therapy services to patients in the home, for $4.6 billion, to take advantage of the potential growth rate of 6 to 9 percent annually in the home care market."

"The US Postal Service will be building its second green roof in order to improve the environment. An 11,300 square foot green roof will be built atop the Colvin-Elmwood Post Office. The money for building the green roof will come through an innovative sustainability partnership with Onondaga County, NY."

"Rapper/actor Common won the the 2012 Centric Award on the red carpet outside the Shrine Auditorium. American hip-hop artist and actor, Lonnie Rashid Lynn, Jr, better known by his stage name Common has won the 2012 BET Centric Award."

"Wal-Mart's plan to open a neighborhood grocery store in Chinatown in Los Angeles was opposed by thousands of protestors on Saturday saying that the move by Wal-Mart will hurt small businesses leading to layoffs and their closure. "

"Despite massive demonstrations against the restarting of nuclear reactors, the Japanese government has decided to restart Ohi's no.3 reactor saying that the step was essential to boost the economy and prevent shortage of energy during the summer. "

"Consumer sentiment dropped in June to the lowest level since December as consumers are getting increasingly concerned about the staggering economic conditions. The gauge dropped to a final June reading of 73.2 from 79.3 in May, signifying the lowest level since December. "

"The best IPO this week was that of cloud service provider, ServiceNow, which gained 37 percent on its debut on Friday. Its stock closed at $24.60 a share on the New York Stock Exchange, up from its IPO price of $18. "

"A survey shows that millions of small businesses are not aware of the provisions of healthcare laws that provide small-business health-care tax credit first available in 2010, as part of the Affordable Care Act. "

"The World Trade Organization has declared that the US rules that force country-of-origin labels on Canadian products violate trade agreements. The decision in favor of Canada relates to a a long-running dispute over labeling beef and pork products produced in that country."

"The US economy is cooling off, which is evident from the government data released on Friday that showed consumers spent less in May and increased their savings. Personal spending dropped less than 0.1 percent in May, which represented the first decline since last November. "

"Bristol-Myers Squibb Co has agreed to acquire Amylin Pharmaceuticals Inc, a maker of diabetes therapies at a total cost of $5.3 billion as it is desperately trying to replace revenue that it is losing from the declining sales of its blood thinner that is facing generic competition."

"Stockton, California has filed for bankruptcy after its talks with bondholders and labor unions failed. As a result, Stockton will become the largest US city to seek bankruptcy protection from creditors. "

"Abound Solar said that it will seek bankruptcy protection next week as it has not been able to come to terms with potential buyers over the last several months. About $68 million in US-backed loans will be at risk of not being repaid and 125 employees would lose their jobs."

"Ford Motor expects that it losses for its international operations will increase threefold in the second quarter from the first quarter loss, mainly because of Europe's economic woes."

"Euro leaders have agreed to radically restructure Spain's €100bn bank recapitalization plan. EU funds will now be directly injected into staggering Spanish financial institutions, indicating that the Spanish government will be able to avoid the burden of the bailouts from its sovereign books."

"Credit Suisse Group AG said that it is confident that it will report a profit for the group and all divisions for the second quarter. The bank's shares jumped as much as 4.8 percent in Swiss trading, and rose 2.9 percent to 17.06 francs by 9:55 am local time. "

"An article printed in a newspaper published through news press release states that there was a time when a printed word in the newspaper was held sacrosanct. Now, the competition is driving the media to give a new meaning to the everyday events by twisting the facts. Stephan Cohen's moral panic model explains the methods used by the media top press release sites to exaggerate and distort the event. Moral panic refers to an exaggerated reaction given by the media or people to a particular event. The overreaction leads to exaggerated the seriousness of the event. The people or the group, social deviants who are targeted by the News Press Release driven media for causing the harm in the society are called folk devils, says Cohen."

"Nike's earnings in the fiscal fourth quarter dropped 7.6 percent missing Wall Street expectations as a result of weaker gross margins and higher marketing costs tied to product launches and two key global sporting events."