BPER Banca, the fourth-largest lender in Italy, has acquired over 35% of its smaller competitor Banca Popolare di Sondrio (BPSO), according to the Italian Stock Exchange. BPER Banca stated that the stake was sufficient to guarantee complete control over BPSO.  The Italian bank enhanced its proposal for BPSO last week. It is providing 1.45 of its newly issued shares along with 1 euro for...

The American aerospace company Boeing Co. raised aircraft deliveries to clients by about 1.6 times in the second quarter relative to the same timeframe last year. As stated in the company's press release, it provided 150 commercial aircraft, in contrast to 92 during April to June 2024.  130 airlines were handed over to clients during the initial quarter of this year.  Consequently,...

The Public Investment Fund (PIF) of Saudi Arabia has invested $200 million in a project to construct a 366-meter tall skyscraper in Manhattan and intends to acquire a two-thirds ownership in the project, according to Bloomberg, which references sources. The property located at 625 Madison Avenue was purchased by the developer Related in 2024. It is situated in a prominent location, just a block...

French car manufacturer Renault is looking for a partner in India to enhance its foothold in the nation as its partnership with Japan's Nissan Motor deteriorates, Bloomberg reported, referencing sources. Renault has conducted initial discussions with Indian tycoon Sajjan Jindal’s JSW Group regarding a potential joint venture, sources revealed. JSW is involved in the automotive, steel, energy,...

According to Reuters, French antitrust authorities have imposed a €40 million fine on the Asian e-commerce platform Shein due to unfair business practices. The organization, which also oversees consumer protection, stated that Infinite Style E-Commerce Co Ltd. (ISEL), functioning under the Shein brand, deceived consumers regarding the extent of discounts. After a year-long investigation, the...

AstraZeneca Plc is in talks for a $15 billion collaboration with Summit Therapeutics, according to Bloomberg, which references sources. AstraZeneca might progressively compensate the U.S. firm for the rights to ivonescimab drug for patients with lung cancer. As per sources from Bloomberg, Summit has been negotiating with additional significant pharmaceutical firms. The agreement with...

Omar Sheikh, an analyst at Rothschild & Co. Redburn, has reduced Adobe Inc.’s rating to ‘sell’ from ‘neutral’ because of the risks associated with generative artificial intelligence (AI). The analyst reduced his price target for the company's stock to $280, down from $420. This represents one of the bleakest predictions for Adobe stock: analysts typically value the company's shares at $484...

Glencore Plc, a top diversified commodity group globally, has revealed a new share repurchase program valued at up to $1 billion following the conclusion of the sale of its agricultural division Viterra. The program is set to commence on July 7 and is scheduled for completion in February 2026. On July 2, Glencore finalized the agreement to transfer Viterra to American Bunge Ltd. Consequently,...

Hyatt Hotels Corp. is divesting 15 resorts in Mexico, Jamaica, and the Dominican Republic for $2 billion. Hyatt has finalized an agreement to transfer the complete portfolio of properties it purchased on June 17 from Playa Hotels & Resorts NV to Tortuga Resorts, a partnership between KSL Capital Partners and Rodina, as stated on its website.  Besides the $2 billion, Hyatt could obtain...