According to three persons with knowledge of the situation, American producer of meat and processed foods Tyson Foods intends to sell its chicken business in China. This is the latest instance in recent years of a multinational corporation attempting to exit the nation. According to two of the people, the company has hired Goldman Sachs…
The CEO of networking equipment manufacturer Cisco Systems sought to ease concerns about slowing growth following a poor annual revenue projection by highlighting market share gains and potential presented by artificial intelligence (AI). The comments assisted the company’s shares in reversing direction in late-day trading on Wednesday, resulting in a gain of more than 2%.…
As a result of failing to obtain the necessary regulatory approval, Intel halted its acquisition of Israeli chipmaker Tower Semiconductor on Wednesday. The IT behemoth announced in a statement that it is abandoning the proposed merger “due to the inability to obtain in a timely manner the regulatory approvals required under the merger agreement.” A…
The Talegaon plant in the western state of Maharashtra will be acquired by Hyundai Motor Co.’s Indian subsidiary, enabling General Motors to leave the country and increasing Hyundai’s yearly production. Hyundai wants to boost its total manufacturing capacity to one million units annually through its Talegaon plant as well as its Sriperumbudur facility outside of…
The World Health Organisation is keeping an eye on a new strain of Covid-19 known as EG.5, often known as “Eris,” which is responsible for an increasing number of infections in nations like China and the United States. It has been classified by the WHO as a “variant of interest,” meaning that it will be…
On Wednesday, investors predicted that China’s central bank would loosen monetary policy further after a surprise rate cut, even if it puts the yuan under pressure. As a result, yield differentials between China and the US extended to their largest level in 16 years. On Tuesday, the People’s Bank of China (PBOC) unanticipatedly reduced key…
Due to the unpredictable nature of the Women’s World Cup, wherein the United States was eliminated early and a first-time champion was ensured, major global marketers like Adidas and Nike are being forced to act quickly in order to adjust to consumers’ swift changes in tastes and demand. Despite time zone variations that make it…
BP has invested in a start-up business that is working on a technique that aims to use heavy industry vapours to significantly lower the cost of producing zero-carbon hydrogen. According to the companies, BP Ventures, the venture capital division of the British energy behemoth, participated in a $12.5 million Series A fundraising round for the…
The International Energy Agency (IEA) warned that OPEC+ supply restrictions might deplete oil stocks in the remaining months of this year, potentially raising prices even more, before economic headwinds cap global demand growth in 2024. Brent crude prices reached highs of over $88 a barrel on Thursday, the highest since January, as a result of…
Vision vehicle 1 (VF1), a $100 billion investment vehicle that SoftBank Group Corp. formed in 2017, is in talks to buy the 25% share in Arm Ltd. that SoftBank Group Corp. does not directly hold. This might be good news for investors who have been waiting years for strong returns, according to a Reuters report…
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