Wednesday, 27 Oct 2021

U.S. Bancorp To Buy MUFG Union Bank In Deal Valued At Approx. $8 Bln

Opinion | Woke Words With John McWhorter, a Times Virtual Event

Join the writer and linguist on Oct. 14 for an evening of conversation and song, examining the words we continue to grapple with.

By The New York Times

Opinion | Why Not Make the Kids Alright?

By Paul Krugman

Opinion Columnist

Takatso says it is still in talks over South African Airways investment

JOHANNESBURG, Sept 21 (Reuters) – Takatso Consortium said on Wednesday it was still in discussions with South Africa’s Treasury over its purchase of a 51% stake in the country’s struggling national airline but said both parties were committed to an agreement.

The transaction was large and complex and so might take time to finalise, it said in an emailed statement, although it said a due diligence process was largely complete and had identified no material issues.

Shukette Brings Modern Middle Eastern Cooking to Manhattan

Hot-from-the-oven breads, a charcoal grill and a market’s worth of fresh herbs and vegetables mark a new approach.

The Bright Side of the Mediterranean

8 Photos

View Slide Show

By Pete Wells

Singapore reports 1,178 new COVID-19 cases, highest since April last year

FILE PHOTO: Office workers spend their lunch breaks at the central business district during the coronavirus disease (COVID-19) outbreak in Singapore September 8, 2021. REUTERS/Edgar Su

(Reuters) – Singapore’s health ministry reported 1,178 new COVID-19 cases on Tuesday, the highest since April last year.

A recent rise in cases after the relaxation of some COVID-19 measures has prompted Singapore to pause further reopening. More than 80% of its population has been vaccinated against COVID-19.

Tiny Love Stories: ‘My Body Told a Different Story’

Modern Love in miniature, featuring reader-submitted stories of no more than 100 words.

Jibs, Seafood Served With a River View, to Open in Hudson Yards

Barbecue in Koreatown, a mini food hall featuring Asian snacks in Williamsburg, and more restaurant news.

By Florence Fabricant

Bookings open for new Ducati Monster

Ducati India has opened bookings for the all-new Monster ahead of its upcoming launch.

The all-new Monster is a complete departure from the previous Monster 821. The biggest change comes in the new aluminium front frame which is inspired by the Panigale V4. This unit attaches directly to the engine and weighs just 3kg, which is 4.5kg less than the iconic trellis frame in the old model. Weight-saving measures in other areas like the swingarm, wheels, smaller fuel tank and even in the engine have helped this Ducati reduce a whopping 18kg.

As for the suspension, the new Monster comes with a non-adjustable 43mm USD fork and a preload adjustable monoshock. Braking is carried out by Brembo M4.32 calipers up front and the 2021 model runs Pirelli Diablo Rosso 3 tyres.

At the heart of the motorcycle is a 937cc, liquid-cooled, L-twin engine that makes 111hp and 93Nm. The engine is paired with a six-speed gearbox that gets a bi-directional quickshifter as standard.

In terms of electronics, there is lean sensitive traction control and ABS as well as wheelie control and three ride modes — Urban, Touring and Sport. These can be accessed via the new 4.3-inch TFT display.

LiqTech International Gains 10%

Shares of LiqTech International, Inc. (LIQT) are gaining over 10% on Monday morning despite no stock-related news to drive the shares.

LIQT is currently trading at $6.20, up $0.57 or 10.12%, on the Nasdaq. The stock has traded between $4.69 and $12.70 in the 52 week period.

LiqTech International, a clean technology company, designs, develops, produces, markets, and sells automated filtering systems, and ceramic silicon carbide liquid applications and diesel particulate air filters in the United States, Canada, Europe, Asia, and South America. The company manufactures and sells ceramic silicon carbide filters and membranes for liquid filtration under the LiqTech, Cometas, and Provital brand names.

U.S. Bancorp To Buy MUFG Union Bank In Deal Valued At Approx. $8 Bln

U.S. Bancorp (USB) has agreed purchase MUFG Union Bank from Mitsubishi UFJ Financial Group for approximately $8 billion, including $5.5 billion in cash and approximately 44 million shares of U.S. Bancorp common stock. Upon close of the deal, Mitsubishi UFJ Financial will hold a minority stake of approximately 2.9% in U.S. Bancorp.

As of June 30, 2021, MUFG Union Bank, N.A. operated 305 branches. MUFG Union Bank has assets of $133.2 billion, as of June 30, 2021. It is a member of the Mitsubishi UFJ Financial Group.

U.S. Bancorp expects the deal to be approximately 6% accretive to earnings per share in 2023, and 8% accretive to earnings when fully integrated. U.S. Bancorp expects to achieve approximately $900 million in pre-tax cost synergies, and anticipates to incur merger charges of $1.2 billion. The transaction is anticipated to close in the first half of 2022.

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