International Companies
Commerzbank surges as UniCredit takes 9% stake
Commerzbank surged on Wednesday after Italy’s UniCredit built a 9% stake in the German lender.
BMW cuts profit guidance on weak China conditions, recall costs
Shares in BMW tanked to their lowest in nearly two years on Tuesday after the German automaker scaled back its full-year guidance on the back of weak market conditions in China and costs related to a product recall.
EU court upholds EUR 2.4bn Google antitrust fine
Google found itself on the losing end of a significant European legal battle on Tuesday, as the EU's Court of Justice upheld a €2. 4bn fine imposed on the company for antitrust violations.
Apple loses decade-long Irish tax battle
Tech giant Apple has lost a decade-long battle with the European Union regarding a €13. 0bn tax bill in Ireland.
Boeing reaches tentative agreement with IAM union
Boeing reached a deal with its 32,000 workers belonging to the International Association of Machinists and Aerospace Workers union.
Watchdog to probe GXO's takeover of Wincanton
The UK competition watchdog has launched a merger inquiry into GXO Logistics’ £762m acquisition of Wincanton, it was confirmed on Friday.
Google abusing dominant position in online advertising - CMA
The UK competition watchdog has accused Alphabet’s Google of using its dominant position in digital advertising to hinder competition and favour its own services.
Court orders former Wirecard executives to pay €140m
Three former executives of Wirecard, including chief executive Markus Braun, have been ordered to pay €140m in damages by a Munich court.
Verizon to buy Frontier Communications in $20bn cash deal
Verizon Communications said on Thursday that it has agreed to buy Frontier Communications, the largest pure-play fibre internet provider in the US, for $20bn in cash.
Sixth Street, Patron reportedly considering bid for L&G-owned housebuilder Cala
US investment firm Sixth Street has partnered with Patron Capital Partners to compete against FTSE 100 housebuilder Persimmon in the bid to acquire privately-held UK housebuilder Cala Group, it emerged on Wednesday afternoon.
CMA clears Microsoft acquisition of Inflection AI assets
The Competition and Markets Authority (CMA) has approved Microsoft's acquisition of key personnel and intellectual property from Inflection AI, it announced on Wednesday, determining that the deal does not significantly impact competition in the artificial intelligence (AI) market.
Nordstrom gets $23 a share buyout proposal from family founders, Liverpool
Nordstrom confirmed on Wednesday that it has received a buyout proposal from members of the Nordstrom family and Mexican retailer El Puerto de Liverpool (Liverpool) at $23 per share.
Cathay Pacific inspects all A350 jets after engine issue
Hong Kong's flag carrier was planning to axe an additional 10 return flights on Wednesday, following the discovery on Monday of a technical issue with a component of the Rolls-Royce manufactured engine of one of its A350 jets.
Volkswagen no longer ruling out plant closures, scraps job security agreement
German automotive giant Volkswagen warned on Monday that it would no longer be able to rule out plant closures across the country amid major cost-cutting efforts to "future-proof" the firm.
HPE to pursue up to $4bn from Mike Lynch estate - reports
Hewlett Packard Enterprise (HPE) will continue its pursuit of up to $4bn in damages from the estate of the late Autonomy founder Mike Lynch, it emerged on Monday, despite his recent death.