NEW YORK >> U.S. companies are cutting merger deals at a record pace even though antitrust regulators have moved to oppose several recent high-profile combinations.
So far this month, companies have agreed to mergers and acquisitions valued at $249 billion, according to financial information provider Dealogic. That surpasses the previous record of $240 billion in July 2015.
Last week alone the merger mania racked up $177 billion, a new mark for a single week.
The hottest sector has been technology, accounting for more than one-fourth of all U.S.-targeted deals and 19 percent by deal value, according to Dealogic. Health care ranks second by deal value.
The biggest of the October deals so far is AT&T Inc.’s agreement to buy Time Warner Inc. for $85 billion.
Exxon net falls 38% on lower oil prices
DALLAS >> Exxon’s profit keeps shrinking because of lower oil prices, and the company is responding by sharply cutting investment in future production.
Exxon Mobil Corp. said Friday that its third-quarter income fell 38 percent from a year ago to $2.65 billion.
It marked the eighth straight quarter in which Exxon’s profit fell compared with a year earlier.
ON THE MOVE
>> Hilton Hawaiian Village Waikiki Beach Resort has announced Haley Albertson as the hotel’s new assistant director of events and catering. Prior to joining the resort, Albertson was associate director of catering and event management for Starwood Hotels and Resorts’ Waikiki Complex in Honolulu.
>> Sofos Realty Corp. has announced that Daniel Buffalo has been hired as an associate of commercial brokerage. He has experience in a wide range of industries, including construction, residential real estate and the food and beverage industry.
>> Coldwell Banker Pacific Properties has announced that Darnell “Nelly” Mau has joined as an independent agent for the firm’s Kahala office. Mau has more than 30 years of business experience, including working in a family business that is now in its third generation.
