Business

Marketmind: A lacklustre end to a painful week

A look at the day ahead from Karin Strohecker. It hasn’t been a pretty week for equity investors – or many others really. The Delta variant keeps spreading, economies keep slowing, China keeps going with its regulatory crack down. And on top of that, Fed tapering remains likely this year – leaving some to fear […]

Business

Billionaire Forrest picks up 5% in takeover target Western Areas

Mining billionaire Andrew Forrest has picked up a 5.3% stake in Western Areas (WSA.AX), a filing showed on Friday, a day after IGO Ltd (IGO.AX) confirmed it was in early talks to buy the Australian nickel producer. Forrest’s move follows a takeover attempt by his Wyloo Metals for Canadian nickel-copper miner Noront Resources Ltd (NOT.V) […]

Business

Japan’s consumer price falls narrow on global commodity inflation

Japan’s core consumer prices narrowed their annual pace of falls for three straight months in July, a sign global commodities inflation was offsetting some of the deflationary pressure from a pandemic-induced spending slump. But analysts expect consumer inflation to stay well below levels seen in the United States and Europe, as Japan’s decision on Tuesday […]

Business

China Evergrande in talks with Xiaomi consortium to sell EV unit stake

Embattled Chinese property developer Evergrande Group (3333.HK) is in talks with smartphone maker Xiaomi (1810.HK) and Shenzhen state-backed investment firms as it looks to sell part of a 65% stake in its electric vehicle (EV) unit, three sources said. China’s central bank, banking and insurance regulator summoned executives of Evergrande to a meeting on Thursday […]

Business

J&J says veteran Duato to replace Gorsky as chief executive

Johnson & Johnson (JNJ.N) on Thursday appointed Joaquin Duato as chief executive officer to replace veteran Alex Gorsky to steer the healthcare conglomerate through the remainder of the coronavirus pandemic. Duato, the current vice chairman of the executive committee, will take the reins and a seat on the board from Jan. 3. Gorsky, who was […]

Business

GM workers in Mexico defeat union in first test of U.S. trade deal

Workers at a General Motors Co (GM.N) pickup-truck plant in central Mexico have voted to scrap their collective contract, opening the door for them to oust one of Mexico’s largest labor organizations as their union under a new trade deal. The vote, with safeguards agreed upon by Mexico and the United States to ensure a […]

Business

Britain’s Morrisons agrees to CD&R’s $9.54 bln takeover offer

British supermarket Morrisons (MRW.L) has agreed a takeover offer worth 7.0 billion pounds ($9.54 billion) from U.S. private equity group Clayton, Dubilier & Rice (CD&R), dropping its recommendation of a lower bid from a consortium led by Fortress Investment Group. Morrisons, which started out as an egg and butter merchant in 1899, said CD&R’s offer […]