Evergrande: Shares of the bankrupt Chinese developer have dropped by 80%.
Over the last three years, the shares have lost more than 99% of their value as Beijing has cracked down on property enterprises. Evergrande is at the epicenter of a real estate market crisis that is endangering China’s second largest…
Heineken sells its Russian beer business for €1 billion.
The Dutch brewer said it will suffer a €300 million loss on the division, which will be sold to Russia’s Arnest, which manufactures aerosol cans. When Russia invaded Ukraine last February, several Western companies abandoned their Russian operations. Dolf van…
Leonid Radvinsky, the owner of OnlyFans, has received a $338 million settlement.
Dividends were given to the proprietor of OnlyFans, an internet platform utilized by sex workers, singers, celebrities, and others. Its parent firm, Fenix International, claims that annual profits have risen to more than $500 million. According to the network, it…
Roark Capital, a Dunkin’ Donuts and Baskin-Robbins investor, has agreed to buy Subway.
The company announced an agreement with Roark Capital, a US-based group that owns the Baskin-Robbins and Dunkin’ Donuts brands. The terms of the sale were not disclosed, however Reuters reported that it was valued at more than $9 billion (£7.1…
Wilko: Jobs will be lost as efforts to find a buyer fail.
Wilko administrators have stated that jobs will be lost and stores will close after failing to find a buyer for the entire company. However, PwC stated that sections of the group may still be purchased. Wilko stated earlier this month…
FTX founder Bankman-Fried is living on bread and water, according to his lawyer.
Mr Bankman-Fried made the accusation after pleading not guilty to seven criminal charges in a new indictment. Two weeks ago, his bond was revoked. The judge stated at the time that “there is probable cause to believe that the defendant…
Getir, a delivery company, has reduced its employees by more than a tenth.
The Turkish company, which employs 23,000 people in markets such as the United Kingdom and Germany, said the 2,500 job cuts will increase “operational efficiency.” It comes as a result of regulatory crackdowns in some countries, as well as increased…
Microsoft launches a new attempt to clear the Call of Duty contract.
The fresh offer for the gaming behemoth, according to Microsoft’s UK boss, is “substantially different” and should be accepted. Although the purchase will be reviewed, the UK Competition and Markets Authority (CMA) stated: “This is not a green light.” The…
Arm, a leading UK chipmaker, files to sell shares in the US
The Cambridge-based business, which manufactures semiconductors for everything from cellphones to game consoles, intends to go public on the Nasdaq in September. Although Arm withheld information regarding the price or the quantity of shares available for purchase, its anticipated initial…
Holiday companies want the PM to enable the watchdog to punish airlines.
They urged for greater enforcement action in a joint letter with consumer organization Which? if airlines fail to protect consumer rights regarding refunds and cancellations. It alleges that thousands of travelers have received “unfair treatment.” According to the airline industry…
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