The deal between RXO Inc. and United Parcel Service (UPS), the largest express delivery service in the world, calls for UPS to sell its freight brokerage business to Coyote Logistics for a sum of $1.025 billion. A joint press release states that RXO's current funds as well as additional debt, including those from the company's largest shareholders, will be used to finance the transaction. Because...

As Bloomberg notes, citing sources, Nasdaq has tightened its oversight over small initial public offerings (IPOs) by Chinese and Hong Kong companies. Bloomberg reports, referring to sources, that the Nasdaq market in the United States has tightened regulation over small initial public offerings (IPOs) of Chinese and Hong Kong companies' shares in order to prevent significant price swings that...

The French investment firm Ardian and the Saudi sovereign wealth fund Public Investment Fund (PIF) have reached a deal to purchase roughly 38% of London's Heathrow Airport. The main company of the airport, FGP Topco, is 25% owned by Spanish infrastructure business Ferrovial, which Ardian and PIF agreed to purchase for £2.4 billion in November 2023. Some of Heathrow's other shareholders,...

The European Commission (EC) is getting ready to file proceedings against Apple Inc. in the United States for allegedly stifling competition on the App Store in the upcoming weeks, writes The Financial Times citing sources. The regulator has preliminarily determined that Apple does not meet its responsibilities under the new Digital Markets Act (DMA), which requires the firm to give application...

The company behind Instacart, a US supermarket delivery service, Maplebear Inc., is starting a $500 million share repurchase program. The company claimed in a statement to the Securities and Exchange Commission (SEC) that it had fully executed two prior repurchase programs totaling $1 billion, approved by its board of directors in November 2023 and February 2024. Under these schemes, Maplebear...

110 million shares of the telecom giant Deutsche Telekom AG are being offered for sale by the German state development bank Kreditanstalt für Wiederaufbau (KfW) for a total estimated price of €2.5 billion, the bank announced in a press statement. The bids for the securities have already been collected, and the transactions were officially closed on June 4th. Consequently, the German government...

According to The Wall Street Journal, which cites reliable sources, billionaire investor Bill Ackman intends to list his hedge fund Pershing Square Capital Management for public offering next year. Prior to that, he will close a transaction to sell a portion of Pershing Square, with the fund valued at $10.5 billion in total. This transaction is anticipated to close this week. Pershing Square's...

A new facility was established in Mesquite, Texas, which is close to Dallas, to produce 155 mm artillery shell casings, writes the New York Times. The business, which operations haven't started yet, will have the capacity to create up to 30,000 shell casings every month. The business was constructed at the location of a previous warehouse. The construction took ten months, and was funded by the...

A memorandum of understanding was signed with Tunisia by TE H2, a joint venture between TotalEnergies and EREN Groupe, and VERBUND, Austria's top electric utility, to investigate the implementation of a large-scale green hydrogen project named H2 Notos for pipeline export to Central Europe, according to TotalEnergies. H2 Notos seeks to manufacture green hydrogen using electrolysers fed with...