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Tag: merger

Gravitational waves: Monster black hole merger detected

Gravitational waves: Monster black hole merger detected

Science
Gravitational waves have been picked up from the biggest black hole merger yet detected. Scientists say their laser labs sensed the ripples in space-time emanating from this gargantuan collision on 29 July 2017. The event saw two holes, weighing more than 50 and 34 times the mass of our Sun, uniting to produce a single object over 80 times the mass of our star. It happened at least five billion light-years from Earth.The discovery follows a major data re-analysis project. Researchers from the LIGO-VIRGO Collaboration will also list three other black hole mergers that were missed in the initial run-though of the data; and the promotion to full detection status of a previously uncertain "candidate". The re-analysis brings the tota...
Unions threaten nationwide strike on Dec 26 to protest merger of banks

Unions threaten nationwide strike on Dec 26 to protest merger of banks

Finance
Bank unions Saturday called for a nationwide strike on December 26 to protest the proposed merger of Bank of Baroda, Dena Bank and Vijaya Bank. The government had in September approved the merger of the three public sector lenders. The strike will be organised by the United Forum of Bank Unions (UFBU), an umbrella body of nine employee and officer unions. The government and the concerned banks were moving ahead with their decision for amalgamation and hence it was decided to give the call for strike, All India Bank Employees Association General Secretary C H Venkatachalam said. All unions under UFBU will participate in this strike call, said Ashwani Rana, vice president of the National Organization of Bank Workers. Following the government nod, the respective boards of these banks gave the...
Time Warner shares shoot higher after judge rules in favor of merger with AT&T; other media stocks gain

Time Warner shares shoot higher after judge rules in favor of merger with AT&T; other media stocks gain

Finance
Media and telecommunications stocks shot higher in aftermarket trading Tuesday after a federal judge ruled in AT&T's favor on its $ 85 billion acquisition of Time Warner. Time Warner shares traded more than 5 percent higher in aftermarket trading. The widely anticipated ruling comes amid pent up interest in forging combinations across the entertainment and communications industries. CNBC's parent company, Comcast, has been eyeing a $ 60 billion offer for the Twenty-First Century Fox studio and production assets that are currently part of a deal with Disney. ...
Sainsbury's-Asda merger facing investigation

Sainsbury's-Asda merger facing investigation

Business
Britain's competition regulator has confirmed it is investigating the planned merger between Sainsbury's and Asda. The Competition and Markets Authority (CMA) said it was inviting interested parties to comment on the impact of the deal ahead of a formal "phase one" inquiry.A deal between Sainsbury's and Asda, currently the second and third biggest UK supermarkets, would create a grocery powerhouse, overtaking Tesco as the market leader.It would have 2,800 stores across the UK - including the Argos business already owned by Sainsbury's - with combined revenues of £51bn.Some experts think the CMA could ultimately order the company to dispose of at least 75 stores.There are also concerns about the impact the tie-up would have on suppliers - and this part of the sector is ...
Sainsbury's and Asda defend £13bn merger

Sainsbury's and Asda defend £13bn merger

Business
Sainsbury's and Asda say their planned £13bn merger will maintain the number of stores operated by the two brands and cut shoppers' costs.The deal - likely to face close scrutiny by competition authorities - will create a grocery powerhouse overtaking Tesco as the number one player in the sector, with combined revenues of £51bn.There are no plans to close Sainsbury's or Asda stores though executives are targeting savings of £500m, including "operational efficiencies" and by opening Argos concessions in Asda stores.Sainsbury's chief executive Mike Coupe said however that he could not dismiss the possibility that regulators could order the disposal of some sites.Analysts at Global Data said at least 75 would have to go.Sainsbury's said customers would see benefits including price cuts of 10%