International Companies
DSV buys Schenker from Deutsche Bahn for €14bn
Danish freight, sea freight, road transport services and logistics giant DSV has agreed to take over Deutsche Bahn's logistics arm Schenker for €14. 3bn.
Kroger shares pop on Q2 earnings beat, updated guidance
Kroger shares were popping on Thursday, as investors digested the grocer’s updated guidance following a mixed second-quarter performance.
General Mills offloads yoghurt operations in $2.1bn deal
US food manufacturer General Mills has announced the split-up and sale of its North American yoghurt business to French dairy companies in a $2. 1bn deal.
Moderna to slash R&D budget, shares fall
Shares in Moderna tumbled 11% in pre-market trading on Thursday, after the US biotech detailed plans to cut its research budget by more than $1bn.
Microsoft cuts 650 jobs in video game division
Microsoft is cutting 650 jobs from its video game division, according to a company email seen by The Wall Street Journal on Thursday.
Mastercard to buy cyber defence firm Recorded Future for $2.65bn
Mastercard said on Thursday that it has agreed to buy cyber defence company Recorded Future from Insight Partners for $2. 65bn.
Manchester United full-year losses widen
Manchester United reported a net loss of £113. 2m for the year ended 30 June on Wednesday, although the football club maintained that it was in compliance with both the Premier League's Profitability and Sustainability Rules (PSR) and UEFA’s Financial Fair Play regulations.
Tata Steel secures £500m for Port Talbot; 2,500 jobs lost
The government has agreed to pay Tata Steel £500m to help redevelop the Port Talbot steelworks, it was announced on Wednesday, securing the site’s future.
Inditex posts jump in sales, shares spark
Zara-owner Inditex posted a jump in autumn sales on Wednesday, as it flagged "very robust" trading during the first half.
Abu Dhabi National Oil expected to make formal offer for Covestro
Abu Dhabi National Oil Company was expected to make a formal offer to acquire German plastic and chemicals manufacturer Covestro for approximately €14. 4bn including debt, according to the Financial Times.
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.