International Companies
JT Group to buy Vector Group in $2.4bn deal
US tobacco maker Vector Group said on Wednesday that it has agreed to be bought JT Group in a $2. 4bn deal.
Macy's lowers full-year sales guidance despite Q2 earnings beat
Shares in US department store retailer Macy’s were sliding early on Wednesday, after it reported better-than-expected second-quarter earnings despite a drop in sales, and revised its full-year guidance downwards.
CMA cans Apple, Google app market probes ahead of new regulation
The Competition and Markets Authority (CMA) has closed its investigations into Google’s Play Store and Apple’s App Store, it announced on Wednesday, shifting its focus to the forthcoming digital markets competition regime.
Walmart to sell entire $3.7bn stake in JD.com
Shares in JD. com tanked in Hong Kong on Wednesday after American retail titan Walmart signalled its intention to dispose of its stake in the Chinese ecommerce giant worth $3. 7bn.
Johnson & Johnson to buy V-Wave for up to $1.7bn
Johnson & Johnson said on Tuesday that it has agreed to buy V-Wave, a privately-held company focused on developing treatment options for patients with heart failure, for up to $1. 7bn.
EU lowers planned tariffs on Chinese made Teslas
The European Union said on Tuesday that it will lower planned tariffs for Tesla vehicles imported to the bloc from China from 20. 8% to 9% as it announced a number of reductions to planned import duties from other Chinese electric carmakers.
PBOC maintains benchmark lending rates
Chinese central bank The People's Bank of China kept its benchmark lending rates unchanged on Tuesday, in line with market expectations.
AMD to buy ZT Systems in $4.9bn deal
Advanced Micro Devices said on Monday that it has agreed to buy AI infrastructure provider ZT Systems in a $4. 9bn cash and share deal.
Estée Lauder shares tank on CEO retirement, China outlook
Shares of The Estée Lauder Companies were falling sharply in pre-market trade on Monday after the American cosmetics giant announced the retirement of its long-standing chief executive and gave a cautious outlook for the coming financial year.
7-Eleven receives takeover approach from Alimentation Couche-Tard
Canadian convenience store giant Alimentation Couche-Tard is studying a potential takeover offer for Japanese peer Seven & i Holdings, which operates the 7-Eleven chain alongside other retail outlets.
UBS to liquidate Credit Suisse real estate fund
UBS said on Thursday that it will liquidate a real estate fund inherited when it took over Credit Suisse which is valued at more than $2bn.
Carrier Global to sell commercial and fire business for $3bn
Carrier Global said on Thursday that it has agreed to sell its commercial and residential fire business to an affiliate of private equity firm Lone Star Funds for $3bn.
Victoria's Secret shares jump on new CEO, strong second quarter
Shares in lingerie and fashion giant Victoria’s Secret were rising early on Wednesday, after it announced the appointment of a new CEO, and reported preliminary quarterly results ahead of its previous forecasts.
Mars to buy Pringles maker Kellanova in $35.9bn deal
Mars confirmed on Wednesday that it has agreed to buy Pringles and Cheez-It maker Kellanova in a $35. 9bn deal.
Home Depot cuts full-year sales outlook
Home Depot cut its full-year sales outlook on Tuesday as it said higher interest rates and macroeconomic uncertainty were putting pressure on consumer demand.
Chipotle CEO Brian Niccol to take the reins at Starbucks
Starbucks announced the appointment of Brian Niccol as its new chairman and chief executive officer on Tuesday, effective 9 September.
Scotiabank to invest $2.8bn in US regional lender KeyCorp
KeyCorp rallied on Monday after Canada’s Scotiabank agreed to invest $2. 8bn in the US regional lender.
Merck to buy drug targeting B-cell diseases for up to $1.3bn
Merck said on Friday that it has agreed to buy biotech firm Curon’s CN201, a novel investigational clinical-stage bispecific antibody for the treatment of B-cell associated diseases, for up to $1. 3bn.
Shein looking to open UK warehouse - report
Chinese fast fashion giant Shein is reportedly preparing to open its first British warehouse in preparation for a £50bn listing on the London Stock Exchange.
Warner Bros Discovery stock hits record low on Q2 miss, $9bn write-down
Shares in Warner Bros. Discovery tanked in New York on Thursday after the entertainment company missed estimates with its second-quarter results and booked a $9. 1bn impairment charge from its Networks division.