Ukrainian President Volodymyr Zelensky called on Ukrainians to be cautious ahead of celebrations on Wednesday of the country’s 31st year of independence from the Soviet Union. “We have to fight for the victory of Ukraine, a lot remains to be done, we have to remain firm and endure a lot more, unfortunately a lot of […]
Tag: International business news
Why Warren Buffett ‘votes’ Occidental Petroleum
Famed investor Warren Buffett is steadily increasing his stake in Occidental Petroleum in what could end up being the biggest acquisition he’s ever made. Berkshire Hathaway on Friday won approval to buy up to 50% of the shares. Some investors believe this is a step toward a full takeover, which could ultimately cost more than […]
Bloomberg: Bank of Cyprus has rejected a takeover offer from Lone Star Funds
Bank of Cyprus Holdings rejected a takeover offer from Lone Star Funds for 1.51 euros per share. The private equity group confirmed it had made the (cash) offer in a statement on Friday. The Bloomberg agency had earlier reported the news of the acquisition approach. Under UK redemption rules, Lone Star has until 5pm. on […]
Bed, Bath & Beyond tumbles 40% after Ryan Cohen’s exit
LAST UPDATE: 23.25 Shares of Bed, Bath & Beyond tumbled 40.45% on Friday after billionaire investor Ryan Cohen announced he had sold his stake in the company, netting more than $55 million. The billionaire investor announced Thursday that he has sold his 9.8 percent stake in the home products company, nearly five months after he […]
Paramount to pay $1.5 billion to retain U.S. Champions League rights
Paramount Global has renewed the rights to broadcast Champions League soccer matches in the US in a deal worth more than $1.5 billion over six years, more than doubling the size of its previous deal in a sign of the sport’s growing popularity in the country, according to with Reuters. The owner of the CBS […]
Just Eat: Agreement to sell 33% of IFood to Prosus for €1.8 billion
Just Eat Takeaway.com has reached an agreement for the sale of 33% of the Latin American consortium iFood to Prosus, for a price of 1.8 billion euros. Prosus will pay €1.5 billion in cash when the deal closes, while an additional €300 million will be paid over 12 months after the deal closes and depending […]
Kohl’s: Downgrades earnings and sales forecasts – stock plunges
Kohl’s Corp revised down its full-year profit and sales forecasts as the US giant is pressured by deeper discounts and higher costs it faces amid a rally in inflation. In particular, the US department store group now expects full-year net sales to fall between 5% and 6%. The group had previously expected sales to remain […]
Opioid crisis: Walmart, Walgreens and CVS ordered to pay more than $650 million in two counties
Retail companies Walmart, Walgreens and CVS were ordered yesterday by a judge in Ohio (northern US) to pay a total of $650.6 million in fines to two counties in the state for their role in the opioid crisis. “A federal judge ordered (the three companies) to pay $650.6 million” in total to Lake and Trumbull […]
Opioid crisis: Walmart, Walgreens and CVS fined $650 million
Retail companies Walmart, Walgreens and CVS were ordered yesterday by a judge in Ohio (northern US) to pay a total of $650.6 million in fines to two counties in the state for their role in the opioid crisis. “A federal judge ordered (the three companies) to pay $650.6 million” in total to Lake and Trumbull […]
Apple: Plans September 7th iPhone 14 Event
Apple Inc. plans to hold an event on September 7 to unveil the iPhone 14 lineup, Bloomberg reports, citing people with knowledge of the matter. The new iPhones will open the curtain on the company’s fall product season, which will also include new Macs and iPads as well as three Apple Watch models. Apple is […]
