Under the leadership of CEO Rosalind Brewer, the company sought to enhance its healthcare offerings by investing heavily in VillageMD, a network of doctors' clinics known for consuming substantial cash flows. Over recent years, Walgreens has poured more than $6 billion into acquiring a majority stake in VillageMD, further bolstering its healthcare footprint with a…
Read more
In a Chinese property landscape full of obstacles, this casts an ever-growing shadow over the property developer’s future. Based on a Reuters report, the offshore creditors’ financial advisor, Houlihan Lokey, said: The ad hoc creditor group firmly opposes Shimao’s restructuring proposal, (and) will unequivocally vote against it and other scheme creditors ought to do the…
Read more
The offering has drawn significant attention from investors not only in the Asia Pacific region but also globally. Fiona Ip, Deutsche Bank’s APAC treasurer, commented: Importantly, this issuance also represents the attractiveness of the Singapore dollar bond market, following strong recent deal flow and investor interest. Deutsche Bank returns to the SGD market for the…
Read more
According to Yahoo Finance, Donald Trump’s share in the company could reach more than $4bn. Trump Media & Technology merged with a blank check company, Digital World Acquisition Corp., (DWAC), before going public. Based on S&P Capital IQ information, this special purpose acquisition company (SPAC) has been trading since 2021 and lost approximately $41m in…
Read more
During its meeting on March 19-20, which saw the benchmark interest rate trimmed by 50 basis points to 10.75%, the central bank highlighted the crucial role of updated data in determining the final interest rate and its trajectory. The minutes revealed, "Particular emphasis was placed on the importance of fresh data in guiding the final…
Read more
The five investigations concern potential breaches by Alphabet Inc’s (GOOG), which owns Google, Apple Inc. (AAPL), and Meta Platforms, Inc. (META). Instigating these probes only two weeks after the DMA’s deadline shows the European Union (EU) is taking the legislation and gatekeeper compliance seriously. The law came into effect on 7 March 2024. It requires…
Read more
The Belgian company confirmed that it won’t be making any more bids for Direct Line. This announcement came on Friday and followed two previous bids being turned down by Direct Line. The second of those bids, which valued each share at 239p ($4.62 AUD) and was worth £3.17bn ($6.13bn AUD), was rejected by the British…
Read more
This took the loss in the year so far to 11%. Apple is no longer the world’s most valuable company, with Microsoft (MSFT) now having a market capitalisation of over $3tn, while Apple has slipped under that figure to around $2.65tn. Part of the reason for the recent fall is that nervousness has set in…
Read more
Bloomberg reports that many luxury brands are offering extreme discounts to revive consumer interest. The Frasers Group PLC (FRAS.L) bought Matches in December 2023 for £52m but placed it under administration less than three months after the acquisition. The administrators are reportedly seeking new buyers for the company. Bloomberg reported that some consumer bargains are…
Read more
Trading kicked off at $47 per share and shot up to $57.80, a 70% spike, during the day. The company and its shareholders raised an estimated $750m, with Reddit pocketing approximately $519m. Its current market cap sits at $9.5bn. The success of the IPO at this price appears to back up the company’s decision to…
Read more