Category: American Business News

BHP Makes Takeover Approach For Rival Miner Anglo American

by  on  in American Business News

The world’s largest mining company, BHP Group Ltd., has made a takeover approach for rival Anglo American Plc, a move that could spark the biggest shakeup in the industry in over a decade.

Bloomberg News

Dinesh Nair, Thomas Biesheuvel and Crystal Tse

Published Apr 24, 2024  •  Last updated 3 days ago  •  4 minute read

Workers at the remote operations center at the Anglo American Plc Moranbah North coal mine in Moranbah, Queensland, Australia, on Tuesday, Feb. 28, 2023. London-based Anglo is curbing some of the most problematic emissions from this mine and two others by capturing methane--a greenhouse gas far more potent than carbon dioxide--from their underground coal seams through a series of shafts and networks of pipes. Photographer: Patrick Hamilton/Bloomberg
Workers at the remote operations center at the Anglo American Plc Moranbah North coal mine in Moranbah, Queensland, Australia, on Tuesday, Feb. 28, 2023. London-based Anglo is curbing some of the most problematic emissions from this mine and two others by capturing methane–a greenhouse gas far more potent than carbon dioxide–from their underground coal seams through a series of shafts and networks of pipes. Photographer: Patrick Hamilton/Bloomberg Photo by Patrick Hamilton /Bloomberg

(Bloomberg) — The world’s largest mining company, BHP Group Ltd., has made a takeover approach for rival Anglo American Plc, a move that could spark the biggest shakeup in the industry in over a decade.

Anglo American, which has a market value of £27 billion ($34 billion), said late Wednesday that it had received an unsolicited all-share merger proposal, after Bloomberg reported that BHP was considering a potential offer. It added BHP’s move was conditional on Anglo first splitting off its South African platinum and iron ore units.

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US official announces business partnership with Kenya

by  on  in American Business News
nairobi, kenya — 

About 1,300 delegates and 400 companies participated in the fourth American Chamber of Commerce summit in Nairobi, Kenya, where Kenya’s president William Ruto says his country is ready for business — and means business.

“The 2024 summit’s theme — catalyzing the future of U.S. East Africa Trade and Investment intentionally — draws on the previous edition to develop a strategic platform for commercial advocacy, which will strengthen bilateral trade between Kenya and the U.S., as well as between our region and the U.S.,” said Ruto.

U.S. Secretary of Commerce Gina Raimondo participated in this year’s summit — which ended Thursday — saying it’s not enough to state the intentions of the United States to invest more and collaborate with Kenya.

“You also have to show up and that’s why I am here,” she said. “And when we show up, we also have to listen and learn.”

Raimondo announces US-Kenya partnership

In her first official trip to East Africa, Raimondo reiterated President Joe Biden’s December 2022 message that the U.S. is all-in on Africa. To that end, she said she traveled with 14 members of the President’s Advisory Council on doing business in Africa.

“Africa has changed the narrative and the companies that are here today know that,” said Raimondo. “And they reflect the optimism and the commitment from the U.S. business community about the opportunities in Kenya and across the continent.”

Raimondo also announced a partnership “to harness artificial intelligence, facilitate data flows and empower digital upskilling with Kenya.”

The partnership, she said, is the first of its kind with an African nation to promote the safe development and deployment of AI. In addition, seven private-sector deals on digital transformation and commitments were made involving companies including the NBA, CISCO, Pfizer, and Qualcomm.

Two new grants by

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Tourism operators face heavy debt as business roars back

by  on  in Business Breaking News

VANCOUVER –


Maureen Gordon has weathered hard times before.


She and her husband began running ecotourism outfit Maple Leaf Adventures out of Vancouver about a month before the 9/11 terrorist attacks devastated international travel in 2001.


The rebound was relatively quick. Fallout from COVID-19 has proven much more prolonged.


“The pandemic of course was incredibly tumultuous and scary, as it was, I think, for most tour businesses in Canada,” said Gordon, who runs week-long sojourns on a schooner, converted tug boat and catamaran along the Pacific coast.


“It was a really traumatic time. We couldn’t operate at all through various government shutdowns,” she recalled. “We were scared, our bank was scared.”


While 2022 was “incredible,” as Canadians looking to expend pent-up energy surged back to domestic travel, 2023 saw a “hiccup” amid rising interest rates that dampened some sojourners’ spirits.


“Although the tourism industry — in terms of interest in travel and booking — is recovering, the businesses are really hurting,” Gordon said. “I think all of us are carrying the highest debt loads we’ve ever had. Certainly we are.


“We crossed the ocean out of our wrecked boat, and now … we’re all just trying not to die on the beach.”


Tourism has come roaring back from pandemic lows, but operators say the sector has yet to reach pre-COVID levels and debt remains a hefty burden for thousands of small businesses across the country.


International visitor numbers remained down from four years earlier, with tourists from the U.S. at 85 per cent of 2019 levels and those from further afield at 78 per cent, according to Crown corporation Destination Canada.


The industry brought in more than $109 billion in revenue last year, about four per cent more than

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Business is booming with record-breaking $2.3 billion year for economic development in Brampton

by  on  in Business Breaking News


Business is booming with record-breaking $2.3 billion year for economic development in Brampton

The city is celebrating a record-breaking year that brought big-name companies and more than $2.3 billion in construction value to Brampton.

It’s the second year in a row that the city’s Economic Development Office says Brampton broke the $2 billion mark, thanks in part to some big-name companies using Brampton as a home base.

The numbers come from the city’s latest Economic Development Office update and show a booming year for businesses in Brampton with over $2.3 in construction value – a 25.2 per cent increase in industrial construction since 2022.

A ranking of Canada’s leading tech markets last year found Brampton is near the top of the heap of Canadian cities attracting investors – a stat backed up by city data that shows a more than 13 per cent increase in the number of registered businesses in Brampton last year.

“With a surge in investment, a growing entrepreneurial market and a commitment to fostering growth, we are a beacon of economic prosperity,” Brampton Mayor Patrick Brown said in a statement. “From talented startups to global giants, Brampton is the destination for those wanting to thrive and to innovate.”

Here are some of the economic development highlights in Brampton for 2023:

Lululemon

Canadian athletic wear company Lululemon is bringing a new 1 million-square-foot facility to Brampton at 5525 Countryside Drive. The office and distribution centre will be the company’s largest both in Canada and the U.S., and is expected to bring more than 1,500 jobs to Brampton.

Lululemon was founded in Vancouver with one store in 1998 selling yoga-inspired apparel and now makes athletic wear for running, cycling, training and “most other sweaty pursuits for women and men.” The company had some 650 stores worldwide in 2022.

Alectra

Utility provider Alectra also opened its

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Boeing rival Airbus hires JetBlue’s former CEO

by  on  in American Business News

Airbus is bringing on the former CEO of JetBlue Airways to head its North America arm as it looks to extend its dominance over competitor Boeing.

Will SpaceX spinoff Starlink for a big IPO this year?

Robin Hayes, who headed JetBlue for nine years and before stepping down in February, will succeed Jeffrey Knittel as the CEO of the French aircraft giant’s North American business on June 3, Airbus announced Monday.

Hayes will take the lead of the French plane-maker’s commercial aircraft business and will be responsible for coordinating among the company’s helicopters, space, and defense businesses in North America, the company said.

“After some time off, I am excited and energized to join Airbus and build on the incredible success in the region,” Hayes said in a statement Monday. “Airbus’ commitment to safety and decarbonization is incredibly important to me personally, and I am both motivated by and committed to contributing to the Airbus purpose to pioneer sustainable aerospace.”

Airbus has already soared past its competition this year, having delivered 142 planes to customers in 2024 so far. That’s nearly twice as many as its American rival Boeing, which is facing production backlogs in the midst of heightened regulatory scrutiny after a door plug blew off a 737 Max 9 jetliner mid-flight in January. And Airbus says it will ​​be able to deliver 800 commercial planes through the end of the year, compared with just 350 from Boeing (at its current pace of production). It might even snatch up some of Boeing’s clients, amid the turmoil facing the Virginia-based company.

“The future is bright for Airbus in the region, as it is well-positioned to continue on its growth trajectory,” said outgoing CEO Knittel in a statement Monday.

Airbus shares popped up 1% on Monday afternoon

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Entrepreneurship surge diversifies American business landscape

by  on  in American Business News

An upsurge in entrepreneurship, particularly among women and minorities, has been observed across various sectors, including tech, healthcare, and sustainability. This diversification not only boosts economic growth, but also fosters an inclusive society.

Despite the increasing entrepreneurship, there remain systemic obstacles, particularly for women and minorities, such as limited access to capital, scarce mentorship opportunities, and underrepresentation. Both governmental and organizational intervention is required to foster a more level playing field.

Several organizations dedicated to empowering these entrepreneurs have emerged, offering resources like seminars, workshops, and funding options. These initiatives have shown a positive influence in promoting a diverse and empowered entrepreneurial landscape.

The success story of Lacey Larrick, the founder of Still Meadow Boutique, a women’s apparel business in Winchester, Va, attests to this increasing trend. Leveraging the power of online marketing and social media platforms, Lacey established a successful enterprise that surpassed sales expectations within the first financial quarter of 2020.

Entrepreneurship is not a region-specific occurrence but a nationwide trend.

Diversification in entrepreneurship: A nationwide trend

Various factors are fueling this incline in entrepreneurship, like remote work, flexible hours, the opportunity to profit from hobbies, and the advent of simple tools to kickstart and manage an online business. Moreover, the current economic instability is forcing more individuals to explore alternate income sources.

This shift in entrepreneurship is becoming increasingly inclusive, encouraging participation from previously under-represented groups and promoting diversity in the business world. This trend not only provides economic opportunities to these groups but also stimulates innovation and broadens the scope of available services and products. As entrepreneurs of different backgrounds step forth, traditional barriers are dismantling, leading to a flourishing, more equitable enterprise system.

In conclusion, the surge in entrepreneurship among women and minorities paints a future where success is based purely on talent and potential,

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Recent business and educational appointments

by  on  in Business Breaking News

Veterinary business leaders play a crucial role in ensuring the success of an organization by promoting excellence and innovation, but still maintaining a high quality of care provided to animals. Additionally, veterinary school leaders play a pivotal role in shaping the future of the profession by educating and inspiring the next generation of veterinarians. They guide curriculum development, research initiatives, and expert mentorship efforts to prepare students for the evolving landscape of veterinary medicine. Together, these leaders drive progress, promote best practices, and uphold the integrity of the veterinary profession.

Various veterinary businesses, organizations, and schools recently announced new promotions and appointments. The following individuals are among those making career advancements:

Kathy Turner and Craig Wallace, Elanco board of directors

Elanco Animal Health Incorporated expanded its board of directors to 14 members with the newest addition of Kathy Turner and Craig Wallace. The 2 directors also joined Elanco’s Finance, Strategy and Oversight Committee.

Turner has occupied prominent executive roles at IDEXX Laboratories, including the position of chief marketing officer. Wallace has more than 3 decades of leadership involvement in renowned companies like Fort Dodge Animal Health, Trupanion, and Ceva.1

“We are pleased to welcome Kathy and Craig, both accomplished animal health industry executives, to the Elanco Board,” said Jeff Simmons, president and CEO of Elanco Animal Health, in a company release.1 “We are making meaningful progress as we continue to execute our Innovation, Portfolio and Productivity strategy, and we are confident that Kathy and Craig will be valuable additions to the Board.”

Jonathan Levine, DVM, DACVIM (Neurology), dean of University of Wisconsin–Madison School of Veterinary Medicine

Jonathan Levine, DVM, DACVIM (Neurology), incoming dean of the University of Wisconsin (UW)–Madison School of Veterinary Medicine. (Photo courtesy of UW-Madison University)

Jonathan Levine, DVM, DACVIM (Neurology), is currently a professor of

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US small businesses: Key facts and public views about small firms

by  on  in American Business News
A small-business owner organizes display tables at her yarn shop in Boston. (Erin Clark/The Boston Globe via Getty Images)
A small-business owner organizes display tables at her yarn shop in Boston. (Erin Clark/The Boston Globe via Getty Images)

Most U.S. adults (86%) say small businesses have a positive effect on the way things are going in the country these days, according to a recent Pew Research Center survey. Small businesses, in fact, receive by far the most positive reviews of any of the nine U.S. institutions we asked about, outranking even the military and churches.

Despite their name, small businesses loom large in the United States. These businesses – defined here as those with 500 employees or fewer – account for 99.9% of U.S. firms, according to the Small Business Administration. While most of these 33 million firms don’t have paid employees, about 6 million of them do. They account for just under half of total private sector employment (46%).

As National Small Business Week approaches, here’s a look at small businesses in the U.S. and public attitudes about them, based on federal data and Center surveys.

Pew Research Center conducted this analysis to provide a glimpse into the state of American small businesses ahead of National Small Business Week.

In this analysis, “small businesses” are defined as employer firms with fewer than 500 workers. The analysis relies primarily on data from several Census Bureau sources: the Annual Business Survey (ABS), the Business Dynamics Statistics (BDS), and the Business Formation Statistics (BFS).

The ABS – conducted annually since 2017 – includes all non-farm U.S. firms with paid employees and receipts of $1,000 or more. Majority business ownership is characterized in the survey as having 51% or more of the stock or equity in the firm. The Census Bureau counts multiracial firm owners under all racial categories they identify with; Hispanic firm owners may be of any

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Business community denounces Quebec’s latest French rules in open letter

by  on  in Business Breaking News

“We calculate that Quebecers … will unfortunately pay the price.”

Published Apr 21, 2024  •  Last updated 1 day ago  •  4 minute read

Finger pressing buttons on washing machine
Photo by Daisy-Daisy /Getty Images/iStockphoto

Representatives of Quebec’s business community are denouncing some of the measures put in place by the provincial government to protect the French language.

In an open letter on Saturday, economic organizations including the Retail Council of Canada (RCC), the Conseil du patronat du Québec, the Quebec Hardware and Building Supply Association, Manufacturiers et Exportateurs du Québec, the Canadian Federation of Independent Business and the Fédération des chambres de commerce du Québec asked the Legault government to reconsider its position on the issue.

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Making a strong commitment to clean energy is good for American business and the environment

by  on  in American Business News

On Earth Day 1993, I delivered the first major speech of my life. It was in New York City’s Bryant Park, kicking off a nationwide tour to rally opposition to the passage of the North American Free Trade Agreement (NAFTA).

The crowd was about 10,000 people. I was there representing the Student Environmental Action Coalition and joining national leaders from the environmental and labor movements. I was 20 years old and it was nerve-racking. It was my first time speaking to a crowd that was not principally students and helped me find my public voice, not just on the environment but on the rights of working people.

Earth Day 2024 again marks a moment when the fate of our planet and the fate of working people in our country are tied together.

The climate crisis can only be solved with our transition to an economy based on clean energy. And that next economy is here.

Unlike 31 years ago, the landmark policies now shifting the economic landscape are providing powerful incentives for investments in the country and the planet. They are bills like the Inflation Reduction Act (IRA) and the Biden-Harris administration’s infrastructure law.

NAFTA’s incentives all pointed in the wrong direction for the environment (as well as jobs). It gave polluters legal back doors to challenge environmental protections outside our courts. It made it harder for Canada to regulate fossil fuels. And it created pressure to increase environmentally harmful farming and mining practices in Mexico.

Now the incentives are pointing the right way. The IRA has $40 billion in tax credits to expand clean technology manufacturing. That includes a manufacturing production tax credit to support the expansion of solar, wind, and battery manufacturing and critical minerals processing. These four sectors are part of the foundation of the next economy.

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