The latest indication that the sector is banking on long-term robust travel demand following the pandemic is Accor’s announcement on Tuesday that it aims to open more than 1,200 hotels in the next five years, more than doubling the number of its resorts. The largest hotel chain in Europe also announced that it will increase…
The rise in interest rates has made negotiations with potential buyers more difficult, which is impeding Assicurazioni Generali’s ambitions to sell up to 20 billion euros ($21.87 billion) in insurance liabilities, according to three people with knowledge of the situation. In order to raise capital, the Italian insurer started a procedure late last year to…
More subsidies are not necessary for Australia’s crucial minerals policy since strong projects will attract investment, according to BHP’s CEO on Tuesday, but the nation must speed up mine development timelines and revise new labour rules. Mike Henry, CEO of BHP, made his remarks a week after Australia, one of the world’s largest producers of…
Meta, the company that owns Facebook, has started a virtual reality (VR) subscription service in an effort to turn that area of its operations profitable. According to Meta, subscribers will have access to two new games each month. The VR division of Instagram’s parent firm lost $4 billion (£3.1 billion) in the first three months…
After initial intentions for a stock market listing were postponed earlier in the year, Swiss skincare company Galderma raised nearly $1 billion through a private placement of shares. The freshly issued shares have been partially absorbed by management and shareholders, with the remaining shares going to unidentified external investors, according to a statement from the…
As PwC hired a Singaporean leader to steer its local firm through the consequences from a major scandal, PwC Australia on Sunday entered into an exclusivity deal with private equity firm Allegro Funds to sell its government practise for A$1. The issue, which first surfaced in January, centres on a former tax partner at PwC who…
Following a meeting between CEO Andy Jassy and Prime Minister Narendra Modi in the United States, Amazon.com Inc. said on Friday that it will increase its investments in India to $26 billion by 2030. This statement included $6.5 billion in new planned investments. Jassy did not provide a breakdown, but the statement comes after Amazon…
The biggest action the nation has taken to far against such content came from Malaysia, which announced on Friday that it would sue Facebook parent company Meta Platforms for failing to remove “undesirable” posts. Since taking office in November following a highly contested election in the Southeast Asian country that contributed to an increase in…
Carnival is anticipated to report strong revenue growth in the second quarter as new and younger clients spend on fresh experiences like cruising, unaffected by high inflation. While Americans have reduced their spending on expensive, non-essential items due to rising prices, the prolonged confinement to their houses during the pandemic has piqued their interest in…
In light of the excitement surrounding developments in artificial intelligence, SoftBank Group CEO Masayoshi Son announced on Wednesday that his tech investing conglomerate intends to change its posture and go into “offence mode.” The group had taken a defensive position and was reducing investment activities as its investing arm, the Vision Fund, recorded significant investment…
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