Aurora Farms adds local spin
Aurora Farms Premium Outlets has opened Blended, a marketplace within the complex that features 15 local vendors.
The shopping area is located in the Village Shops, just off the pond and across from the food court.
Northeast Ohio stores participating in Blended include Sugar & Scrubs, Obvious Coffee Company, Champions Chocolates and Buckeye Blends Gourmet Balsamic Vinegar & Olive Oil.
Blended joins nearly 70 other retailers on the Aurora Farms roster. The outlets are operated by Summit Mall owner Simon Propery Group.
Saudis boost daily output
Saudi Arabia boosted daily oil output in May to the highest level since October, ahead of meetings with Russia and other global producers next week where they may propose raising production even further and phasing out 18 months of voluntary cuts.
Saudi Arabia, which along with Russia is trying to garner support for lifting output limits, told the Organization of Petroleum Exporting Countries that its daily production rose 162,000 barrels a day to 10.030 million in May compared with the previous month, a person with knowledge of the data said, asking not to be identified because the information isn’t public.
Saudi Arabia and Russia may propose a gradual production increase at the June 22-23 meetings in Vienna, intending to offset any supply disruptions in Iran and Venezuela.
Riyadh pledged to pump no more than 10.058 million barrels a day under OPEC’s output-cuts agreement with Russia and other allies outside the group. The desert kingdom usually boosts output in summer months as domestic demand for fuel rises.
Volkswagen probe expands
German prosecutors say they have expanded their probe into manipulation of emissions controls at Volkswagen’s Audi division to include Audi’s CEO, Rupert Stadler.
Munich prosecutors said Stadler’s private residence was searched on Monday along with that of another division manager whose name was not released.
A statement issued Monday said that Stadler was being investigated on suspicion of fraud and indirect improprieties with documents. The addition of the two executives brings to 20 the number of people under suspicion.
The probe of Stadler focuses on cars sold in Europe that were believed to be equipped with software that turned emissions controls off during regular driving. Volkswagen has pleaded guilty to criminal charges in the United States and nine managers, including former CEO Martin Winterkorn, were charged there. Two are serving prison terms; Winterkorn and the others remained in Germany and are unlikely to be extradited.
Audi said in a statement that “we are cooperating with the authorities” in the probe.
KKR purchasing Envision
KKR is buying physician services provider and surgery center operator Envision Healthcare Corp. in an approximately $9.9 billion deal.
The private equity firm will pay $46 in cash for each share of Envision’s stock in a deal the companies aim to close in the fourth quarter.
The total price includes debt.
Nashville, Tenn.-based Envision announced last fall that it would review its strategic options. Envision said Monday that its board and financial advisers looked at acquisitions, contacted 25 potential buyers and considered keeping Envision as a stand-alone business. They determined that the KKR deal offered the best chance to maximize shareholder value.
The companies said the share price in this deal is a 32-percent premium to the volume-weighted average price the day after the company said it would review strategic options.
Envision shares advanced more than 2 percent, or $1.01, to $44.65 Monday before markets opened and after they companies announced their deal.
Compiled from staff and wire reports.
Business news briefs, June 12: Aurora Farms opens marketplace featuring local goods