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Canada's Alberta sees C$3 bln of new carbon tax revenue
2015-11-22 17:57:00| Climate Ark Climate Change & Global Warming Newsfeed
Reuters: Nov 22 The Canadian province of Alberta, home to the country's oil sands, said on Sunday it would implement an economy-wide tax on carbon emissions in 2017, addressing long-standing criticism it is not doing enough to combat climate change. The oil sands are often criticized by environmental groups since the industry requires vast amounts of energy and water for production, exceeding pollution from more conventional sources of oil. CARBON TAX The tax would generate about C$3 billion ($2.25 billion)...
Sprint to raise USD 1.2 bln by selling, leasing back devices
2015-11-20 17:53:00| Telecompaper Headlines
(Telecompaper) Sprint has signed an agreement with newly formed Mobile Leasing Solutions for the sale and lease-back of certain leased devices. The operator expects the deal to deliver approximately USD 1.1 billion in cash as part of a total consideration of USD 1.2 billion. The transaction is expected to close in the first week of December. It is designed to immediately improve the company's liquidity position. Mobile Leasing Solutions was formed by equity investors including SoftBank. Brightstar is providing its lease management and tracking system and providing remarketing services. A forward purchase agreement is being finalised with Foxconn. Sprint said that it now expects USD 6.8 billion to USD 7.1 billion of Adjusted EBITDA in 2015, compared to its earlier target of USD 7.2 billion to USD 7.6 billion.
Tags: back
selling
usd
devices
ON Semiconductor to acquire Fairchild for USD 2.4 bln
2015-11-18 15:20:00| Telecompaper Headlines
(Telecompaper) The latest move in the consolidating chip market will see ON Semiconductor acquire Fairchild Semiconductor for USD 2.4 billion cash. ON agreed to pay USD 20 per share for Fairchild, creating a leader in the power semiconductor market with combined revenue of approximately USD 5 billion per year. The new company will serve multiple markets, with a strategic focus on automotive, industrial and smartphones. ON said the takeover will add immediately to adjusted EPS and free cash flow, excluding any one-time acquisition-related charges. The company expects to achieve annual cost savings of USD 150 million within 18 months of closing the transaction. The company has secured a new credit line of USD 2.4 billion to help finance the deal, along with cash on hand. The debt financing commitment also includes provisions for a USD 300 million revolving credit facility, which will be undrawn at close. ON Semiconductor also said it remains committed to its share repurchase program, and the agreed upon financing provides flexibility to continue share repurchases going forward. Pending regulatory approval, the transaction is expected to close late in Q2 2016.
Tags: usd
acquire
semiconductor
fairchild
Fitness wearables market to hit USD 10 bln in 5 years
2015-11-17 13:27:00| Telecompaper Headlines
(Telecompaper) The fitness wearables market is projected to treble to over USD 10 billion of hardware revenue by 2020, compared to an estimated USD 3.3 billion this year, according to Juniper Research. The growth will be largely driven by sales of wrist-based trackers, while hundreds of thousands of connected garments used by professional sports teams will showcase the most advanced capabilities in areas such as tracking. The NFL and others have partnered with Microsoft and Zebra Technologies for live data visualisation and new ways for fans to understand games. Devices offering heart-rate tracking, blood-oxygen levels and other advanced fitness tracking capabilities are becoming more popular. Juniper sees a potential risk if too few compelling wearable apps reach market. Biometrics could become part of athletes' contracts and play a role in hiring practices, according to research author James Moar, who said clear boundaries are needed for data ownership and use, with opt-out provisions.
Tags: years
market
hit
fitness
Liberty Global to buy Cable & Wireless for GBP 3.5 bln
2015-11-17 08:38:00| Telecompaper Headlines
(Telecompaper) Liberty Global has offered to acquire UK-based telecoms group Cable & Wireless Communications (CWC) for GBP 3.5 billion in a bid to expand its Caribbean business. The announcement comes six months after Liberty Global's chairman and largest shareholder John Malone acquired a 13 percent stake in CWC following the UK group's EUR 1.85 billion acquisition of Columbus International. Last month the companies confirmed they had entered into talks about bringing together CWC's strong position in the Caribbean with Liberty's operations in Chile and Puerto Rico. The stock offer for CWC is valued at 78.04 pence per share, based on closing share prices as of 13 November, with shareholders also receiving a special dividend of 3 pence per share. In a statement, Liberty Global said the offer represented a purchase price multiple of 10.7x CWC's adjusted EBITDA on 30 September after taking into consideration the unrealised cost synergies resulting from CWC's acquisition of Columbus International. The combined business would serve 10 million video, data, voice and mobile subscribers, said Liberty Global's CEO Mike Fries, adding that additional synergies would be expected beyond the previously reported USD 125 million.
Tags: buy
global
wireless
cable
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