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Fonterra’s farmer shareholders have granted approval for the company’s proposal to divest its consumer products division. The Mainland Group and its associated businesses are set to be sold to Lactalis for a sum of $4.22 billion. High Support for Divestment A…
Boyu Capital, a private equity firm from China, is leading the race to acquire a majority stake in Starbucks’ China operations, a deal that could potentially value the unit at over US$4 billion. Boyu Capital remains in the bid after the final contender,…
Amazon has agreed to a settlement of $2.5 billion with the Federal Trade Commission (FTC), following allegations of misleading customers to increase subscriptions. The settlement, however, is unlikely to significantly impact Amazon, given that the company…
On Tuesday, Nvidia’s shares fell by $5.18 or 2.82%, closing the regular trading session at $178.43. The stock retreated, losing more than half of the 4% increase it saw on Monday. This came after the technology company announced its plans to invest up to $100…
Dolce & Gabbana, the revered Italian luxury fashion brand, has unveiled financial figures for the fiscal year that came to a close on March 31. The company saw its revenue climb by 4 per cent, translating to a total of US$2.2 billion. Revenue Drivers and…
Skechers, the global footwear leader, reported its financial results for the second quarter of 2025, reflecting an overall positive growth across its various business channels. The company’s total revenue for the quarter was recorded at US$2.44 billion,…
Luckin Coffee reported an unprecedented revenue of $1.72 billion in the second quarter, representing a 47 percent year-on-year increase. This performance coincides with the expansion of the Chinese coffee chain’s global footprint to 26,206 outlets, including…
In the second quarter of 2025, multinational food company Kraft Heinz reported a net loss of $8 billion (AUD$12 billion). This financial downturn was primarily due to a $9.3 billion impairment charge. However, despite significant market challenges, the…
JD.com, one of China’s leading online retailers, is set to acquire German electronics retailer, Ceconomy. The acquisition deal is worth an estimated 2.2 billion euros (US$2.5 billion). This strategic move signals JD.com’s intentions to expand beyond its…
Decathlon, the renowned French sports goods company, has disclosed its ambitious plans to double its procurement of goods from India, aiming to reach a monetary value of $3 billion in the next five years. This strategic move will enhance India’s contribution…
Australians are gearing up for a spending spree during this year’s mid-year and end-of-financial-year (EOFY) sales, with projected expenditures hitting a remarkable $10.5 billion. This represents a robust increase of $400 million, or 3.9%, compared to 2024,…
Binance invites participants to support the crypto industry via a rescue initiative, to which it will initially commit $1 billion. Binance has established the Industry Recovery Initiative (IRI), which includes its own initial commitment of $1 billion,…
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