Britain’s competition regulator on Tuesday cleared Amazon’s purchase of a 16% stake in online delivery group Deliveroo, following a provisional nod in June. The Competition and Markets Authority (CMA) gave its original clearance in April on the basis that Deliveroo could go out of business without the investment. It changed approach to focus on competition […]
SoftBank Group Corp’s domestic wireless unit raised its free cash flow 50% in its first quarter, part of a broader effort to stabilise the group and help it weather the coronavirus outbreak. SoftBank Corp said on Tuesday it generated adjusted free cash flow of 236 billion yen ($2.23 billion) in the April-June quarter, compared with […]
German drugs and pesticides group Bayer slumped to a 9.5 billion euro ($11.2 billion) net loss in the second quarter, mainly reflecting charges to settle disputes inherited with its $63 billion takeover of Monsanto. The charges stemmed mainly from a $10.9 billion settlement of U.S. lawsuits claiming weedkiller Roundup caused cancer, compounding a net loss […]
German sportswear firm Adidas (ADSGn.DE) on Tuesday said its supervisory board had extended the contract of Chief Executive Kasper Rorsted until July 31, 2026. Rorsted, 58, has been at the helm of Adidas since October 2016. His contract was due to expire at the end of July next year.
German fashion house Hugo Boss (BOSSn.DE) expects demand for suits and formal wear to return as coronavirus lockdowns ease even as it adjusts to the rising popularity of casual styles after sales tumbled 59% in the second quarter. “People will still get married and hold confirmations or baptisms and people still want to meet up,” […]
Japan’s Sony Corp (6758.T) surprised the market on Tuesday by reporting just a 1.1% profit fall for the cornonavirus-hit first quarter, as its gaming business thrived while consumers locked down at home looked for entertainment and downloaded more games. The gaming business “saw a positive impact from consumers nesting during the virus outbreak,” Financial Officer […]
Goldman Sachs Group Inc (GS.N) has named Ian Taylor as the bank’s new head of equity capital markets (ECM) for Australia and New Zealand, a spokeswoman in Australia said on Tuesday. Taylor will be based in Sydney and replaces previous ECM head Sarah Rennie, following her departure to New Zealand-headquartered boutique advisory group Jarden in […]