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Companies & CEOs

Hyatt hotels to sell 15 resorts for $2 billion

Elliott Brown via flickr
Hyatt Hotels Corp. is divesting 15 resorts in Mexico, Jamaica, and the Dominican Republic for $2 billion. Hyatt has finalized an agreement to transfer the complete portfolio of properties it purchased on June 17 from Playa Hotels & Resorts NV to...

Trump says group of 'very rich people' ready to buy TikTok

Ivan Radic
US President Donald Trump stated he will reveal a list of individuals who have shown interest in purchasing TikTok from its Chinese owners in approximately two weeks. “I believe I’ll make the announcement in a few weeks (...). It's a collection of...

Italian Campari Group to sell Cinzano vermouth production for €100 million

sergis blog
Campari Group has finalized a deal to transfer the Cinzano vermouth and sparkling wine production to privately owned Italian spirits firm Caffo Group 1915 (which owns the Vecchio Amaro del Capo bitters brand), as stated in a press release from...

Auto parts retailer Autodoc postpones Frankfurt IPO

Autodoc GmbH
Germany's Autodoc, the biggest online auto parts retailer in Europe, has delayed its IPO. The firm did not provide a reason for its choice, but stated in a release that “the company and shareholders are still contemplating an IPO at a future...
Markets & Industries

Saudi Arabia's sovereign wealth fund reduces net profit by 2.5 times in 2024

Juber Al-haddad via flickr
The report from Saudi Arabia's sovereign wealth fund (Public Investment Fund, PIF) indicates a 60% decrease in its net profit for 2024. PIF's net profit was 25.8 billion Saudi riyals ($6.9 billion) last year, compared to 64.4 billion riyals the...

Israel stocks hit record, post EMEA's best gain in June

rawpixel.com
Israel's stock exchange reached an all-time peak amid the nation's war with Iran, as investors speculate that Israel will come out of the conflict more secure, Bloomberg states. The blue-chip TA-35 index has increased by 6.8% since Israel launched...

FT: $9 billion transferred in Russian sanctions evasion transactions via ruble-pegged stablecoin in Kyrgyzstan

Mark Hodson via flickr
The Financial Times reports, based on its analysis of crypto wallets, that transactions totaling approximately $9.3 billion occurred with a ruble-linked cryptocurrency named A7A5 over a span of four months. A7A5 is a stablecoin linked to the ruble...

US consumer confidence index worse than expected in June

Lance Chueng/USDA via flickr
The Conference Board reported that the consumer confidence index in the US declined to 93 points in June, as calculated by the research organization. The updated figures show that the indicator value was 98.4 points in May, rather than the...
In-depth coverage

Mittelstand, Germany’s Hedge Against Crisis

It’s a stormy weather for Europe's biggest economy right now: Germany is facing a recession as high energy costs are becoming a huge burden, for the country's industrial companies especially. All this would be spelling trouble for the entire region if not for the Mittelstand, a bunch of stable German businesses that keep working hard and inspire others.When it comes to discussions about a Germa...
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World & Politics

Trump signs executive order to partially lift sanctions against Syria

Allyson Neville-Morgan
US President Donald Trump has enacted an executive order that relaxes certain sanctions on Syria, as stated by the White House on Monday. The executive order, the wording of which was released by the US government, states that “sanctions on Syria...

EU continues tariff talks with US, prepares for any scenario

Pietro Naj-Oleari
European Commission President Ursula von der Leyen stated that the European Union is reviewing the document it obtained from the US containing suggestions for a trade agreement, anticipated by July 9. “Today we obtained the final document from the...

Araghchi: Iran has no plans to resume nuclear talks with the US

Dean_Calma
Iranian Foreign Minister Abbas Araghchi stated that Tehran and Washington have not come to an agreement to restart nuclear discussions. “No consensus or arrangement has been achieved to restart discussions,” Araqchi stated to IRINN TV. “There have...

Reuters: French Le Pen's party's refused to accept US support

Claude TRUONG-NGOC
In late May, a delegation from the US State Department engaged with high-ranking members of the French right-wing National Rally (RN) party. During the meeting, the party officials turned down a proposal from the U.S. diplomats for the Donald Trump...
Management & Strategy

Shareholders criticize Nissan managers for poor results

Ryan Housknecht via flickr
During the yearly meeting of the Japanese car manufacturer Nissan Motor, shareholders strongly criticized the management for unsatisfactory results. For three hours, those attending the meeting voiced their unhappiness over extensive layoffs and...

Chief Financial Officer Chris Turner to head Yum! Brands in October

Joseph Michael Rozier
Chris Turner, who is presently the chief financial officer of the company, will take on the role of the new CEO for Yum! Brands Inc. on October 1. Turner, 50, became part of Yum! in 2019 after working in senior roles at PepsiCo and over ten years at...

CrowdStrike CEO donates over $1bn worth of company shares

heute.ag
George Kurtz, the CEO of US cybersecurity company CrowdStrike, has donated over $1bn in shares of his firm, as indicated by filings available on the US Securities and Exchange Commission (SEC) website. Kurtz's submissions do not reveal the...

Buffett to step down as CEO of Berkshire Hathaway at the end of the year

Fortune The Most Powerful Women via flickr
Berkshire Hathaway Inc, the investment firm of American billionaire Warren Buffett, reduced its operating profit in the first quarter of 2025 by 14 percent, while its net income decreased by 2.8 times. Buffett, 94, who has steered Berkshire for...