Category: Owner
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Jeff Bezos doubles down on unprecedented block of a presidential endorsement from ‘The Washington Post’ but admits ‘I am not an ideal owner’
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Amazon founder Jeff Bezos may not allow it The Washington Post To run her traditional endorsement of a presidential candidate, but he’s willing to write it and run it Editorial Justifying his move, Jeff Bezos insists that it is all in the name of keeping the media unbiased. last friday,…
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Stock market today: The owner of Versace and Jimmy Choo just lost half its value in 24 hours—and Wall Street ended its six-week winning streak
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Wall Street called off a six-week winning streak at the market close on Friday, with Treasury yields rising and investors grappling with soaring valuations amid mixed earnings. One of the biggest losers on Friday was Capri Holdings Ltd., which lost nearly half its value after a federal judge blocked its…
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Vauxhall owner to decide future of UK factories as net zero row escalates
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Stellantis, the parent company of Vauxhall, Fiat, Citroen and Peugeot, is set to decide the fate of its UK plants within weeks amid ongoing rows with the government over electric vehicle sales targets. In June, Stellantis warned it may need to close its factories in Ellesmere Port and Luton unless…
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Scottish Power owner Iberdrola commits £24bn to upgrade UK’s green energy infrastructure
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Iberdrola, the Spanish energy group and owner of Scottish Power, has announced a £24 billion investment to develop the UK’s energy infrastructure over the next five years. This represents a doubling of its commitment to Britain and makes the UK the largest destination for Iberdrola’s global investments. The investment will…
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Scottish Power owner Iberdrola commits £24bn to upgrade UK’s green energy infrastructure
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Iberdrola, the Spanish energy group and owner of Scottish Power, has announced a £24 billion investment to develop the UK’s energy infrastructure over the next five years. This represents a doubling of its commitment to Britain and makes the UK the largest destination for Iberdrola’s global investments. The investment will…
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Tetley tea owner takes legal action against striking workers over trespass claims
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Tata Consumer Products, owner of Tetley Tea, has initiated legal action against the striking factory workers, accusing them of trespassing during an ongoing dispute over wages. The company applied for an injunction for trespassing after workers entered Tetley’s Teesside production site in County Durham, breaching picketing rules and engaging in…
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RBA says around 2% of owner occupiers in real danger of defaulting
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Reserve Bank of Australia Financial Stability Review, September 2024. Headlines via Reuters: The Australian financial system is resilient and risks are limited. Risks include pressures on China’s financial sector and the lack of a significant response from Beijing. Lower global risk premiums and higher leverage would increase the risk of…
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US states reach $1b crypto fraud settlement, owner promises refunds
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Five US states have reached a settlement with the owner and operators of an alleged $1 billion cryptocurrency investment scheme. The plan, led by Josip Hit and his GSB group, lured investors with promises of tokenized fractional ownership in a skyscraper, investments in the metaverse, and a cryptocurrency that was…
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US states reach $1b crypto fraud settlement, owner promises refunds
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Five US states have reached a settlement with the owner and operators of an alleged $1 billion cryptocurrency investment scheme. The plan, led by Josip Hit and his GSB group, lured investors with promises of tokenized fractional ownership in a skyscraper, investments in the metaverse, and a cryptocurrency that was…
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Onlyfans’ Ukrainian-born owner Radvinsky reaps £1bn from adult content platform
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OnlyFans, a subscription-based site known for its adult content, has paid out £1bn to its Ukrainian-born owner, Leonid Radvinsky, since he took over the company six years ago. The British platform’s parent company, Phoenix International, announced a record dividend of $472 million (£358 million) last year, contributing to the large…
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7-Eleven owner rejects Couche-Tard’s offer, but leaves door open
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Breadcrumbs Path Links news Retail and Marketing Change is underway at Japanese companies, long considered impenetrable to takeovers. Article author: Bloomberg News Reed Stevenson Published on September 6, 2024 • Read for 4 minutes You can save this article by registering for free here. Or log in if you have…
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7-Eleven owner rejects Couche-Tard’s offer, but leaves door open
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Breadcrumbs Path Links news Retail and Marketing Change is underway at Japanese companies, long considered impenetrable to takeovers. Article author: Bloomberg News Reed Stevenson Published on September 6, 2024 • Read for 4 minutes You can save this article by registering for free here. Or log in if you have…
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Hedge funds may lose billions from Temu owner PDD’s stock crash
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Written by Summer Chen HONG KONG (Reuters) – Concentrated bets on Chinese e-commerce giant BDD Holdings Ltd may have cost hedge funds billions of dollars in losses as its shares tumbled following disappointing comments from its executives. Shares of U.S.-listed BDD Inc., owner of low-priced retailer Teemo, have fallen 33%…
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Silicon Valley Bank’s former owner gains approval to end bankruptcy By Reuters
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By Dietrich Knuth NEW YORK (Reuters) – SVB Financial Group, the former owner of failed Silicon Valley Bank, received permission from a U.S. judge on Friday to hand over its assets to creditors and end its bankruptcy. Its bankruptcy restructuring allowed it to create a fund to continue litigation against…
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Exclusive-Blackstone in bid to acquire shopping center owner Retail Opportunity, sources say By Reuters
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By Anirban Sen (Reuters) – Private equity firm Blackstone is in early talks to acquire Retail Opportunity Investments Corp, a U.S. shopping mall owner with a market value of about $2 billion, people familiar with the matter said. Blackstone’s interest comes after ROIC shares have lost more than 10% of…
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Activist Starboard builds over 6.5% stake in Tinder owner Match, WSJ reports By Reuters
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(Reuters) – Activist investor Starboard has a stake of more than 6.5% in Tinder owner Match and is pushing for a potential sale if the turnaround attempts fail, the Wall Street Journal reported on Monday, citing people familiar with the matter. Match shares rose about 9% in extended trading after…
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Uniqlo owner lifts forecast again as weak yen powers sales from tourists By Reuters
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Written by Rocky Swift TOKYO (Reuters) – The Japanese operator of fashion giant Uniqlo on Thursday raised its forecast for what would be a third straight year of record profit, helped by strong sales at home and some overseas markets. The domestic market has been a bright spot for Fast…
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China cognac probe is a reaction to EU car tariffs, says Hennessy owner LVMH By Reuters
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AIX-EN-PROVENCE, France (Reuters) – China’s investigation into dumping in Europe’s cognac industry is a tit-for-tat response to European Union tariffs on Chinese electric cars, the chief financial officer of Hennessy cognac owner LVMH said on Saturday. China on Friday announced plans to hold a hearing on European brandy imports, escalating…