Following an agreement between the firms to sell some assets, the European Commission (EC) approved the merger of Masmovil Ibercom SA and Orange SA, the Spanish unit of the French telecom operator. After Orange and Masmovil merge, Spain's biggest telecom company will be valued at €18.6 billion. The businesses decided to sell licenses for €120 million to Digi Communications NV frequency in...

Capital One Financial Corporation's $35 billion acquisition of Discover Financial Services will become the largest M&A transaction of 2024. Discover Financial Services will be acquired by Capital One Financial Corporation for a price of $35.3 billion. According to the press office of Capital One, for every Discover share, the company would pay 1.0192 shares of its own stock, which is a 26.6%...

Lufthansa has issued a warning that a strike by Verdi trade union members may result in canceled or delayed flights, affecting around 100,000 people. The ground staff strike at airports in Berlin, Munich, Frankfurt, Düsseldorf, Hamburg, Cologne, and Stuttgart will continue for a little more than a day, from the morning of February 20 to the morning of February 21. Michael Niggemann, director of...

According to Commissioner Thierry Breton, the European Commission has opened an investigation against TikTok for potential infractions of European laws pertaining to digital services. Commissioner Thierry Breton announced on the social network X that the European Commission has opened an inquiry into TikTok due to potential infractions of the Digital Services Act, DSA, a piece of European...

The European Commission (EC) confirmed in a statement that it had authorized Korean Air's acquisition of rival Asiana Airlines. The $1.4 billion agreement was first disclosed in 2020, and U.S. officials must also approve it. The European regulator had earlier expressed concern that the merger would reduce competition between the European Economic Zone and South Korea in the air passenger and...

The fourth quarter of 2023 saw a 2.2-fold decline in net profit for Biogen Inc., a US biotechnology company. This decline was partly caused by one-time expenses related to the decision to forgo the development and marketing of Aduhelm, a medication intended to treat Alzheimer's disease. In October through December, the company's net income was $249.7 million, or $1.71 per share, as opposed to...

Due to discontent with wages and other working conditions, drivers for Uber Technologies, Lyft Inc., and DoorDash—three U.S. taxi and delivery services—will go on strike on Valentine's Day, February 14, according to RTTNews. The Justice For App Workers movement is organizing protests at airports with over 100,000 drivers as members. "We are sick of working 80 hours a week just to make ends...

The California judge ruled that Elon Musk will have to appear before the Securities and Exchange Commission (SEC) once more as part of an inquiry into potential irregularities in the acquisition of Twitter in 2022. Billionaire Elon Musk will have to appear again before the Securities and Exchange Commission (SEC) in the federal court in California as part of an inquiry into potential violations...

According to Bloomberg Law, the Operating Engineers Construction Industry and Miscellaneous Pension Fund sued Pioneer Natural Resources Co., a producer of oil and gas in the United States, in Delaware Chancery Court to obtain its internal documents so that they could evaluate the management's actions during the company's merger with ExxonMobil. The fund, which owns a portion of Pioneer, is...