The Latest Breaking News from Wikimedia Commons

Citigroup Inc (NYSE:C) is in talks with local buyers in Russia over a potential sale of its operations in the country, the Financial Times reported, citing people familiar with the matter. The bank is in negotiations with privately-owned Russian companies, including Expobank and insurance company Reso-Garantia for the divestiture, the report said.…

Walgreens Boots Alliance Inc's (NASDAQ:WBA) Q3 FY22 sales decreased 4.2% Y/Y to $32.6 billion, down 2.8% on a constant currency basis, beating the consensus of $32.06 billion. Adjusted EPS reached $0.96, beating the consensus of $0.92, down 28.9% on a constant currency basis against 93.6% growth a year ago that reflected peak…

Hyundai Motor Co (OTC:HYMTF) is planning to launch a company along with its two affiliates in the U.S., Reuters reported. Through the move, the company plans to strengthen its presence in the U.S. by exploring business opportunities. In May, Hyundai said it would invest more than $10 billion in the U.S. by…

Yesterday Unilever plc (NYSE:UL) sold its Ben & Jerry’s business in Israel to Avi Zinger, the current Israel-based licensee.  Under the terms of Unilever’s acquisition agreement of Ben & Jerry’s in 2000, Ben & Jerry’s was granted rights to make decisions about its social mission. Still, Unilever reserved primary responsibility for financial and operational…

Telsey Advisory Group analyst Joseph Feldman was a little surprised to see several executives changes all at once at Dollar Tree Inc (NASDAQ:DLTR). The analyst described the changes as a bold move that should help the company recruit new leaders to fill key roles without the need for secrecy and potential ill-will. The discount variety store…

Walmart Inc (NYSE: WMT) agreed to acquire Memomi, an augmented reality (AR) optical tech company. The financial terms of the transaction remain undisclosed. Memomi is a leading technology provider for enhancing virtual optical try-on experiences, helping customers virtually "try on" eyewear in real-time for a seamless, easy, and fun omnichannel experience. Since 2019, Memomi…

Atlantic Equities analyst Edward Lewis upgraded McDonald's Corp (NYSE:MCD) from Neutral to Overweight and raised the price target from $245 to $278. Lewis noted that the quick-service restaurant proves resilient during periods of economic weakness.  He saw MCD delivering resilient system growth as, with the renovation of the US store base now essentially complete, the…

Volkswagen AG (OTC:VWAGY) continues to strive for an initial public offering (IPO) for Porsche in the fourth quarter amid market volatility, Reuters reports. "We are optimistic we can pursue this project in the fourth quarter," CFO Arno Antlitz said at the Reuters Automotive Europe conference in Munich. "Porsche would gain entrepreneurial freedom, we can…

Renesas Electronics Corp (OTC:RNECY), a premier supplier of advanced semiconductor solutions, collaborated with Tata Motors Ltd (NYSE:TTM) and Tejas Networks Ltd. (Tejas), both Tata Group companies. The partnership builds on their longstanding relationship as technology and business partners.  Also Read: More Trouble For Semiconductor Industry's Revival as Japanese Chipmakers See Engineers Shortage Renesas, with deep…

Major pharmacies like CVS Health Corp (NYSE:CVS), Walmart Inc (NYSE:WMT), and Rite Aid Corporation (NYSE:RAD) have put a limit on purchases or deliveries of Plan B and other emergency contraceptive pills, writes Wall Street Journal. The move comes as demand for contraceptive pills spiked following the Supreme Court ruling overturning a constitutional right to abortion. These were in…

JetBlue Airways (NASDAQ:JBLU) has again modified its proposal to acquire Spirit Airlines Inc (NYSE:SAVE) based on discussions with Spirit shareholders. JetBlue added a ticking fee, increased the reverse breakup fee to $400 million, and accelerated prepayment to $2.50 per share. Related: JetBlue Submits Improved Proposal For Spirit Airlines At $33.50/share The addition of a ticking…