CategoryCorporate

Heineken acquires majority stake in United Breweries

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Heineken has successfully expanded its stake in the Indian Brewer United Breweries to 61.5 percent. This was announced by the Amsterdam Brewer on Friday morning. Heineken already had a 46.5 percent stake in United Breweries, but with the purchase of 39,644,346 shares in United Breweries, this increases to 61.5 percent. Heineken expects the consolidation of United Breweries to have a limited...

GM sued Ford for alleged patent infringement

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Car manufacturer General Motors (GM) has filed a lawsuit against industry rival Ford, writes Reuters on Saturday. According to the company, the name of Fords cruise control BlueCruise is too similar to GM’s hands-free Super Cruise function. Also, the name is too similar to that of Cruise, a subsidiary of GM that develops self-driving cars. In April, Ford changed the name of its cruise...

Red Tsunami comes for the Chinese educational platforms

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Shares of Chinese companies active in digital education are in danger of collapsing when the American Stock Exchange opens this afternoon. The Chinese government is considering obliging the educational technology sector to adopt a non-profit model, according to several Chinese media. According to the media, Beijing would consider introducing new legislation for this. This would result in these...

Ben & Jerry’s boycotts Jewish settlements, so Israel answers with counteractions

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Anyone can watch online how the Israeli minister of Economic Affairs takes her Ben&Jerry’s out of the freezer and into the trash. If the ice maker no longer wants to sell ice in Jewish settlements in the occupied West Bank and in East Jerusalem, then it won’t get in her way either, the minister’s wife makes it crystal clear in the video she posted. Economically, it makes it...

Harley-Davidson is cruising in the sea of green numbers

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In the second quarter of 2021, in contrast to last year, Harley-Davidson wrote green figures again and did better than expected. This was apparent on Wednesday from the results of the American manufacturer of motorcycles. Over the second quarter, net income rose from $ 92.22 million negative to $ 206.3 million positive, or an adjusted $ 1.41 per share. The forecast was $ 1.21. Sales at Harley...

Harassment, Abuse and Humiliation: Israeli PBC is in hot bath after Haaretz findings

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Current and former employees at Kan tell Haaretz that they face a hostile work environment, including retribution for complaining. Employees at the Israel Public Broadcasting Corporation Kan regularly face abuse, humiliation and insults by managers, and incidents of sexual harassment have gone unpunished, according to dozens of testimonies collected by Haaretz. Matan Drori, the head of Kan...

ASML chip machine maker reports a strong quarter

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ASML has issued a very strong quarterly update. This was stated by ING analyst Marc Hesselink on Wednesday. “The results were as expected [ … ] gross margin was higher thanks to more software upgrades. This resulted in a 7 percent windfall for the EBIT”, says Hesselink. He also stressed the inflow of 8.3 billion euros in orders, a record. “All in all, the tone is very...

BMW and Volkswagen got fines, Daimler got critics

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The European Commission has fined BMW and Volkswagen Group a total of € 875 million for breaching European rules in their cooperation in developing technology to bring emissions from new diesel cars within the legal standard. This was reported by Brussels on Thursday morning. “The five car manufacturers Daimler, BMW, Volkswagen, Audi and Porsche had the technology to reduce harmful...

Pershing Square Holdings agreed to buy 10 percent of UMG shares

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Pershing Square Holdings, through its subsidiary Tontine Holdings, has entered into an agreement with Vivendi to acquire a 10% stake in the activities of Universal Music Group of Vivendi. This was announced by Vivendi on Monday. The participation amounts to approximately EUR 3.5 billion. Previously, there seemed to be an amount of EUR 4.0 billion. The transaction is still subject to approval...

ArcelorMittal departs from Cleveland-Cliffs project

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ArcelorMittal sells its remaining 38.2 million shares in Cleveland-Cliffs and the proceeds are used to buy its own shares. This was announced by the steel giant on Friday morning. ArcelorMittal is setting up a new $ 750 million stock purchase program. The programme will start immediately. Earlier this year Mittal also sold shares in Cleveland-Cliffs. A total of $ 1.9 billion will be paid out to...

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