Daily Management Review
Business & Finance

Musk's xAI in talks to sell $4.3 billion in shares

Elon Musk's AI company xAI Corp. based in America is negotiating to secure $4.3 billion via equity funding, reports Bloomberg referencing details shared by the company with its investors. In early June, the agency reported that the startup sold equity totaling $300 million and secured loans...

GM to invest $4 billion in U.S. facilities over two years

General Motors Co. (GM) announced it will invest $4 billion in U.S. facilities over the next two years to boost production of gasoline-powered cars and electric vehicles. The fresh investments will enable GM to boost its U.S. vehicle production to over 2 million units annually. GM operates 50...

Anglo American prepares for De Beers formal sale procedure

Anglo American Plc, the firm that owns De Beers, is getting ready to start formal selling procedures for the diamond miner following indications of interest from possible purchasers, including two former De Beers CEOs, according to Bloomberg. The groups of prospective purchasers are being led by...

Bristol Myers to pay up to $11.1bn to BioNTech for cancer drug license

US pharmaceutical firm Bristol Myers Squibb will spend as much as $11.1bn to Germany's BioNTech for a license related to the cancer treatment BNT327. A joint press release from the companies indicates that BioNTech will obtain an initial payment of $1.5bn and will get yearly payments amounting to...

Telegram places $1.7 billion convertible bond offering

Telegram has issued convertible bonds totaling $1.7 billion. The funds will be applied to pay off current debt and lengthen the maturity period of the debt, writes Bloomberg. A portion of the proceeds from the issuance of new five-year bonds will be allocated to settle $955 million in debt, while...

RedBird Capital to buy publisher of The Telegraph at £500m valuation

US investment firm RedBird Capital Partners has announced its agreement to acquire UK-based Telegraph Media Group (TMG), the publisher of The Telegraph newspaper, in a transaction with an enterprise value of 500 million pounds ($674 million), according to the fund. The deal is arranged by RedBird...

Walmart vs. Target: How Tariff Pressures Are Widening the Performance Gap

As trade tensions persist and import duties rise, the impact on the retail sector is becoming increasingly clear: while Walmart seems to be weathering the storm, Target is struggling to keep pace. The latest quarterly results from both retail giants reveal a growing divide in their fortunes, driven...

Honeywell buys Johnson Matthey division for £1.8 billion

British manufacturer of autocatalysis materials, Johnson Matthey, has finalized a deal to sell its Catalyst Technologies division to US-based Honeywell International for £1.8 billion ($2.4 billion). Johnson Matthey stated that the transaction will be settled in cash. It is set to be finished in the...

Swiss authorities order Booking.com to cut commissions for hotels

The Swiss pricing regulator has instructed the American online hotel reservation platform Booking.com, managed by Booking Holdings, to decrease its prices in Switzerland, according to a statement from the watchdog. As per the directive, Booking.com is required to reduce commissions for hotels in...

Maruti Suzuki plans to double car production in India by 2030

Maruti Suzuki, a subsidiary of Japan's Suzuki Motor and India's largest automobile manufacturer, intends to increase its vehicle production in the nation to 4 million by 2030, according to the Financial Times. By doing this, the company aims to reclaim its portion of the Indian market, which used...
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