China"s top two train makers confirm merger: Xinhua

HONG KONG, China (AFP) – China’s top two bullet train makers will merge, state media said Tuesday, in a move that will create a multi-billion-dollar firm as the country seeks export markets for its high-speed railway technologies.

The official Xinhua news agency confirmed the two state-owned firms, China CNR Corporation and CSR Corporation would “merge into a new company”, citing an announcement filed by the latter with the Shanghai Stock Exchange late yesterday.

Details were not immediately available but there have been months of speculation about the deal, with the 21st Century Business Herald reporting the new entity’s name as “China Railway Rolling Stock Group”, citing an unnamed source.

State media has previously said it would help prevent “cut-throat” competition between the two when seeking business overseas.

The merger could also put the combined entity in a stronger position to take on the likes of Germany’s Siemens and Bombardier of Canada.

Each is valued at around US$13 billion, with CSR having a slightly higher market capitalisation.

The two companies, both dual-listed on the Shanghai and Hong Kong stock exchanges, had suspended their shares from trading pending “important” announcements, exchange filings show.

China’s high-speed rail network was only established in 2007 but has fast become the world’s largest.

The state-run China Daily newspaper said the high-speed rail network was set to reach 50,000 kilometres by 2020, with four main lines running north and south and another four east and west.

However, the network has also been plagued by graft and safety scandals.

CSR was embroiled in a 2011 scandal after a high-speed train crash near Wenzhou city killed 40 people and sparked an investigation that found evidence of bribery in railway construction.

CSR’s net profit rose 58.29 per cent year-on-year to 3.97 billion yuan (US$651 million) in the January-September period, according to the company.

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China"s top two train makers confirm merger: Xinhua

Union wants to discuss merger concerns with Sagicor Life

The union representing workers at Sagicor Life Jamaica is seeking a meeting with the management to discuss the implications of  the merger of  the entity’s banking operations.
Sagicor recently completed the acquisition of RBC Royal Bank, which it merged with Sagicor Bank.
Senator Kavan Gayle, President General of the Bustamante Industrial Trade Union (BITU) told RJR News that employees of Sagicor Life – part of the Sagicor Group – have concerns about the impact of the merger.

“We are going to be requesting to have discussions with the management of Sagicor Life Insurance to discuss any impact on the way going forward,” he said.

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Union wants to discuss merger concerns with Sagicor Life

Cabinet approves merger of police training facilities

The Cabinet has approved the merger of  training facilities at the Police Twickenham Park campus to form the National Police College of  Jamaica.

The new entity will offer training in leadership and management, search and rescue techniques as well as firearm use and tactical operations. 

Arising out of  a strategic review of  the Jamaica Constabulary Force commissioned by the Government, a recommendation was made for the consolidation of  the various entities into a single body with the potential for income generation.

The Public Sector Master Rationalisation Plan 2012 also recommended the merger.

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Cabinet approves merger of police training facilities

Merger makes world"s biggest ad firm

28 July 2013 Last updated at 08:50 ET Maurice Levy will soon co-head the biggest ad firm in the world France’s Publicis and US firm Omnicom have announced a merger to create the world’s biggest advertising company worth $35.1bn (£22.8bn).

Omnicom chief executive John Wren and Publicis Groupe boss Maurice Levy are to become joint CEOs.

Each firm’s shareholders will hold about 50% of the new Publicis Omnicom Group.

The firm will be listed in Paris and New York and will employ more than 130,000 people.

Among the well-known industry names that are in the combined company are BBDO, Saatchi & Saatchi, and Leo Burnett.

‘Dramatic changes’

“The communication and marketing landscape has undergone dramatic changes in recent years including the exponential development of new media giants, the explosion of big data, blurring of the roles of all players and profound changes in consumer behaviour,” said Mr Levy.

“John and I have conceived this merger to benefit our clients by bringing together the most comprehensive offering of analogue and digital services.”

Publicis Groupe shareholders will receive one share of the new Publicis Omnicom Group for each Publicis share they own and a special dividend of 1 euro per share.

Omnicom shareholders will receive 0.813 shares of Publicis Omnicom Group for each Omnicom share they own, together with a special dividend of $2 per share, plus quarterly dividend payments.

The companies see savings of $500m from the merger, and the deal is expected to be finalised by the end of the March 2014. They say the merger should be “tax-free” and the holding company based in the Netherlands.

The new Publicis Omnicom Group will overtake UK rival WPP in size.

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Merger makes world"s biggest ad firm

ISCF says no to merger, calls for increased capacity

ST ANN, Jamaica —The Special Constabulary Force Association is frowning at the idea of the Island Special Constabulary Force (ISCF) and the Jamaica Constabulary Force (JCF) being merged and has instead called for increased capacity in the ISCF.

Inspector Andrew Johnson, chairman of the association has called on the Minister of National Security Peter Bunting to add more members to the ISCF.“We are asking you to consider improving the compliment of the ISCF to at least 4000,” he said.Johnson, who was speaking at the 29th annual joint conference of the Special Constabulary Force Association at the Jewel Resort in Runaway Bay, said that the ISCF has been operating successfully and what it needs is increased physical and human resources to continue its success.“Put the ISCF back where we were in 2002/2003 (but not just to put us back there), but to give us resources, renew the energy of the ISCF, build the capacity of the organisation and watch us as we take on crime  in a way that you would be amazed,” Inspector Johnson requested of Minister Bunting. Johnson pointed out that the ISCF has taken on the mandate given and has been serving effectively. “The energy and vigour with which we approach our duties, the motivation and leadership provided by our managers, the singleness of purpose displayed by all stakeholders resulted in the restoration of order in public spaces, namely all the major town centres across the island and especially downtown Kingston,” he said.The ISCF has a little over 2000 members, Johnson said adding that with their hard work, people however are often led to believe that its membership is bigger. “Visibility of the police in any locality is a significant deterrent to crime and acts of criminality.  It is the perception that the ISCF is always present on the street,” he said.He went on to add that the ISCF “is poised to make an even more significant contribution to the fight against crime in this country.”He however made it clear that the prospect of a merger “has dampened our spirits.  We however remain committed to our task of assisting with the security of our nation.”“Look at the work done; think about a reenergized ISCF and how much we can achieve.  All we need is your support in the form of administrative directives and support in physical and human resources and you would never believe the dent that we could make in bringing crime even further down,” he said.Bunting in response said that although no immediate talks are ongoing, whatever happens he would ensure that the members of the ISCF are protected if a merger is to take place.- Renae Dixon

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ISCF says no to merger, calls for increased capacity