According to the Economic Times, Google, a division of Alphabet Inc., contributed $350 million to the $1 billion financing round that Indian online retailer Flipkart, which is owned by Walmart Inc., finished. As part of this funding round, Walmart, which owns 85% of Flipkart, contributed $600 million to the business. Google's involvement as a minority investor was confirmed by Flipkart, however...

The Bank of England's Prudential Regulation Authority (PRA) imposed a £33.8 million fine on Citigroup Global Markets Limited. The regulatory body stated that the US bank's violations of trading and control systems occurred between April 2018 and May 2022, which is when the fine was assessed. Additionally, the American bank was fined £ 27.8 million by the British Financial Conduct Authority (FCA),...

The biggest retailer in the United States, Walmart Inc., reported a 6% gain in revenue and a more than threefold increase in net income in its first quarter of fiscal 2019. For the quarter that ended on April 30, Walmart reported net income of $5.1 billion, or $0.63 per share, as opposed to $1.67 billion, or $0.21 per share, for the same period the previous year. FactSet's survey of analysts...

The enigmatic business whose shares billionaire Warren Buffett's investment firm Berkshire Hathaway unveiled for $6.7 billion turned out to be insurance Chubb Ltd. According to CNBC, which cites Berkshire data that are available on the stocks and Exchange Commission (SEC) website, Berkshire has been raising its investment in Chubb for the past two quarters and currently holds 6.44% of the shares...

BHP Group submitted a fresh merger proposal to Anglo American, which was once more turned down, the BHP press release reads. Anglo American's board of directors received an enhanced proposal from the group on May 7th, which valued the company at 34 billion pounds ($42.67 billion). Anglo American is being offered the deal by BHP in exchange for shares. Anglo American stockholders would receive...

A deal has been agreed by Shell Singapore Pte, a division of the British oil and gas corporation Shell, to sell refinery and petrochemical assets in Singapore to CAPGC Pte, a joint venture between Glencore Asian Holdings Pte and Chandra Asri Capital Pte. Shell announced in a press release that it would sell every part of Energy and Chemicals Park, including real estate and business agreements....

Allete Inc., a generator of renewable energy in the United States, is being acquired by a group of investors led by the Canadian pension fund Canada Pension Plan Investment Board and the American investment firm Global Infrastructure Partners for approximately $6.2 billion, including debt, the company announced in a news release. Each share of Allete stock will be purchased by the consortium for...

According to Rystad Energy analysts, the number of mergers and acquisitions (M&A) in the worldwide oil and gas business in the first quarter was the most in the previous five years, and agreements worth an additional $150 billion may be signed in the remaining months of 2024. Deal value since the year's start has topped $64 billion, which is 2.5 times greater than it was in the first quarter of...

The US Securities and Exchange Commission (SEC) closed the auditing firm BF Borgers due to allegations of widespread fraud. The agency claims that Ben Borgers, the company's founder, faked paperwork and mislead customers into believing that BF Borgers conforms to US regulations. According to the SEC, the commission discovered infractions in at least 75% of Borgers' audits. Gurbir Grewal,...