Aston Martin, a British premium sports car maker, has agreed to raise £650 million from Saudi Arabia's Public Investment Fund (PIF). With the acquisition, PIF will have a 16.7% stake in Aston Martin, making it the carmaker's second-largest shareholder behind Lawrence Stroll, a Canadian business magnate whose private equity group, Yew Tree Consortium, holds an 18.7% in the holding. Aston Martin...

In November and December, Daimler Truck will start assembling Mercedes-Benz electric buses in Brazil. Amid rising demand in the biggest economy in South America, Daimler Truck Holding AG aims to begin producing its first Mercedes-Benz electric bus type in Brazil in November and December, the corporation announced. By 2024, the business projects that there will be 3,000 electric buses on...

According to a statement from the firm, net income attributable to U.S. PepsiCo Inc. stockholders increased by 39.7% from the same period last year to $5.69 billion. The diluted earnings per share were $4.09, up from $2.94 in the prior year. Revenue of the corporation increased 7% to $36.425 billion, with 13.3% organic growth. Operating revenue increased by 35% to $7.344 billion. PepsiCo's net...

Rivian Automotive, a manufacturer of electric vans, pickup trucks, and SUVs, intends to reduce its staff by 5%. According to Bloomberg, 700 out of the more than 14,000 employees would be affected by the layoffs. According to the sources, this includes teams with overlapping functions and non-manufacturing employees. They said that no final decisions had been made regarding layoffs. The...

According to Bloomberg, the German energy holding company Uniper turned to the German government for financial support. The corporation asked for almost €9 billion, which is more than twice its market value. In addition to asking for an increase in its credit line, the company offered the government the chance to purchase its shares. According to a previous article in Handelsblatt, the government...

Alibaba, Tencent, and other internet behemoths have all received fines from China for breaking transparency laws. Tencent and Alibaba both received fines of over $896,000 and around $349,000, respectively. According to Reuters, China's government punished tech giants Tencent, Alibaba, and other businesses for failing to declare transactions. A list of 28 transactions that broke the rules was...

The largest bank in Japan, Mitsubishi UFJ Financial Group (MUFG), will establish a special division called MUFG Trading, which will buy inventory from manufacturing firms that they are unable to sell and do not have a place to store, according to the Japanese news agency Nikkei. It is anticipated that the bank will purchase a range of goods from producers, including food and semiconductors, keep...

The chief operational officer of the British low-cost airline EasyJet, Peter Bellew, announced his resignation. The reasons for the resignation are unknown, although as noted by newspapers, the leave is taking place while thousands of flights across Europe are being canceled. Prior to Mr. Bellew's appointment in 2019, EasyJet's director of flight operations, David Morgan, held the job. Mr. Morgan...

H&M, a Swedish apparel chain, released its results for the first half of 2022 and the second quarter. The business reported that its overall revenue in the second quarter was SEK 54.5 billion (€5.2 billion), up 17% from the same period last year, and its net income was SEK 4.8 billion (€448 million), up 33%. Refinitiv's poll forecasted a 3.87 billion kroner (€363 million) quarterly profit. The...