The agreement for Deutsche Lufthansa to purchase a portion of Italy's ITA Airways (formerly Alitalia) has been authorized by the European Commission. The regulator stated that all worries regarding the danger to industry competition have been allayed by the actions pledged by the company and the Italian government. A deal to purchase a 41% share in ITA Airways from the Italian government was...

According to a joint press statement, Hyundai Motor Co. of South Korea and LG Energy Solutions have opened the first $1.1 billion electric vehicle battery plant in Indonesia. The plant's construction at Karawang, close to Jakarta's capital, began in 2021. The plant will produce a total of 10 GWh of batteries annually. The majority of the nickel used in batteries is produced in Indonesia....

Shell has decided to halt the development of a biofuel manufacturing facility in Rotterdam for the time being. According to a statement from the corporation, this decision was made to address concerns about the project's continued implementation and to guarantee its competitiveness going forward, given the state of the market. The project envisages building a facility that can produce 820,000...

The Wall Street Journal reports that the U.S. Justice Department will demand that Boeing Co. enter a guilty plea for willfully misleading air safety regulators about material facts regarding the 737 MAX airplanes, which resulted in two crashes. This nullifies an earlier, more permissive agency ruling against the business from over three years ago. According to WSJ sources, Boeing has to enter a...

US memory chip manufacturer Micron Technology reported a net profit along with a significant growth in revenue in the third quarter of fiscal 2024. The company's shares dropped at the same time since the revenue was only marginally higher than market estimates and the current quarter's outlook was mostly in line with analyst predictions. In a press release, the business stated that its net...

Reuters reports, citing sources, that Shein has submitted an IPO application in London. According to Reuters, which cites people familiar with the matter, Chinese online clothes retailer Shein filed a confidential application for an initial public offering in London at the beginning of June. It is yet unknown when precisely Shein intends to hold an IPO in London, according to Reuters. The...

The deal between RXO Inc. and United Parcel Service (UPS), the largest express delivery service in the world, calls for UPS to sell its freight brokerage business to Coyote Logistics for a sum of $1.025 billion. A joint press release states that RXO's current funds as well as additional debt, including those from the company's largest shareholders, will be used to finance the transaction. Because...

As Bloomberg notes, citing sources, Nasdaq has tightened its oversight over small initial public offerings (IPOs) by Chinese and Hong Kong companies. Bloomberg reports, referring to sources, that the Nasdaq market in the United States has tightened regulation over small initial public offerings (IPOs) of Chinese and Hong Kong companies' shares in order to prevent significant price swings that...

The French investment firm Ardian and the Saudi sovereign wealth fund Public Investment Fund (PIF) have reached a deal to purchase roughly 38% of London's Heathrow Airport. The main company of the airport, FGP Topco, is 25% owned by Spanish infrastructure business Ferrovial, which Ardian and PIF agreed to purchase for £2.4 billion in November 2023. Some of Heathrow's other shareholders,...