U.S. private equity firm to buy Héroux-Devtek in deal valued at $1.35B

Aircraft landing gear maker Héroux-Devtek Inc. says it has signed a deal to be acquired by U.S. private equity firm Platinum Equity Advisors LLC in a deal valued at $1.35 billion. Under the agreement, Platinum Equity will pay $32.50 in cash per share for the company.  Based in Longueuil, Que., Héroux-Devtek is one of the … Read more

Bombardier aircraft assembly workers back on the job after 18-day strike ends

Unifor said on Wednesday that its members at Bombardier ratified a new three-year collective agreement, ending an 18-day strike at the business jet maker’s manufacturing facilities in Mississauga and Waterloo. The new contract provides general wage increases of 12.5 per cent over the life of the deal along with higher pension contributions and better job … Read more

Ather Energy aims to raise market share with foray into family scooter segment

Kolkata: Electric two-wheeler maker Ather Energy is hopeful of increasing its market share as it forays into the family scooter segment, a company official said on Friday. The Bengaluru-based firm has so far been manufacturing sporty scooters. “The company has now entered the family scooter segment to capture a larger share of the market. Ather … Read more

Precious rare earth metals belong to the state, China declares – POLITICO

Beijing has already prohibited exports of rare earth refining and magnet manufacturing technologies. In January, it banned the export of gallium and germanium, both highly sought after by the computer-chip industry. Fears that China is looking to exert control over the industry, and could disrupt critical technology, automotive and renewable energy supply chains, have sparked … Read more

After early struggles, federal refugee employment program gains traction with employers

As the federal government moves to restrict the number of temporary workers in the country, a relatively new program to bring refugees to Canada on a permanent basis is beginning to catch on with employers. The Economic Mobility Pathways Pilot (EMPP) is a federal program aimed, in part, at easing the labour shortages facing many … Read more

Canada’s GDP grew 0.3% in April, with rebound in some sectors

Canada’s economy grew 0.3 per cent in April, helped by strength in several industries, including wholesale trade, oil and gas extraction and manufacturing, Statistics Canada said. The data matched expectations as analysts polled by Reuters had forecast 0.3 per cent GDP growth in the month, after zero growth in March. Statistics Canada says the growth in April came as … Read more

Industrial revival stalled in June in Germany and France, survey shows – POLITICO

The numbers add fresh economic concerns to the political ones that have rattled markets in the last two weeks. The benchmark Stoxx 600 stock index fell 0.8 percent, while 10-year government bond yields fell by around 0.05 percentage point in both France and Germany. The unexpected slowdown challenges assumptions by the European Central Bank and … Read more

It’s a ‘travesty’ Boeing CEO Dave Calhoun is still in his job, says U.S. senator during heated hearing

U.S. lawmakers pressed Boeing’s chief executive Tuesday about the company’s latest plan to fix its manufacturing problems, and relatives of people who died in two crashes of Boeing 737 Max jetliners were in the room to remind him of what was at stake.  CEO David Calhoun appeared before the Senate investigations subcommittee, which is chaired by … Read more

Opinion | What Hong Kong needs to do for successful rebranding as global cultural hub

Hong Kong also fell off the list of the world’s top 10 busiest ports last year. Six of those spots went to mainland ports, with Shanghai at No 1 since 2010, according to shipping data from Alphaliner. And in a sharp turn from Hong Kong’s heyday as a shopping and dining paradise, public holidays now … Read more

Solar window company bringing its US headquarters to California – Daily News

A solar company that aims to use the sun’s power to make buildings more energy efficient has chosen San Jose as its headquarters for its United States operations. ClearVue PV has developed a cutting-edge “solar window” that can be used as a facade for buildings to make the structures more energy-efficient and capable of generating … Read more