April 6, 2022 9:10 am
Ingka Group, which owns the majority of IKEA stores across the globe, has purchased 9 solar photovoltaic park projects in Germany and Spain for a total value of EUR 340 million in an attempt to bolster renewable energy generation. The projects, which would have a combined capacity of 440 megawatts, will be acquired from Germany’s […]
Read moreApril 6, 2022 7:34 am
The compensation package for David Baszucki, the founder and Chief Executive Officer of gaming platform Roblox Corp (RBLX), stood at $232.8 million in 2021, compared with $6.8 million a year ago. According to a Roblox regulatory filing, a major part of the pay package was comprised of a long-term performance award estimated at $232.2 million. […]
Read moreApril 4, 2022 7:04 am
RV maker THOR Industries Inc (THO) said last Friday that it had signed a Letter of Intent to sell a majority interest in its digital application business, TH2 Connect LLC. Private equity firm Graham Allen Partners, which specializes in building value through technology and digital transformation, will acquire a controlling interest in the business in […]
Read moreApril 1, 2022 9:26 am
United Parcel Service Inc (UPS) said it was testing out a four-wheeled “eQuad” electric cargo bike, which is intended for deliveries in densely populated urban regions that can be more easily accessed by bikes. According to Luke Wake, UPS’ vice president of fleet maintenance and engineering, the company is testing nearly 100 of the eQuad […]
Read moreMarch 31, 2022 11:32 am
IKEA announced on Wednesday that it intended to close its store in Tottenham, north London, later in 2022, while the move would affect 450 workers. The home furnishings retailer also said it remained committed to retaining as many affected employees as possible. IKEA also announced plans to add more than 600 other jobs in London […]
Read moreMarch 30, 2022 10:30 am
Titan International Inc (TWI) said on Tuesday that it had entered into a definitive agreement to sell its Australian wheel business to OTR Tyres, a domestic tire, wheel and service provider. The deal is expected to close on March 31st. The transaction includes gross proceeds and cash to be repatriated of nearly AUD 23 million […]
Read moreMarch 30, 2022 8:46 am
Johnson & Johnson (JNJ) on Tuesday became the latest major company to limit its business operations in Russia in response to its incursion into Ukraine. Johnson & Johnson said that it would discontinue selling personal care products in the Russian Federation. The company said it would still provide medicines and medical devices in the region, […]
Read moreMarch 29, 2022 9:58 am
American International Group Inc (AIG) and BlackRock Inc (BLK) said on Monday they had formed significant partnerships, where BlackRock would manage certain liquid fixed income and private placement assets. Under the arrangements, BlackRock will manage up to $60 billion of the global AIG investment portfolio and up to $90 billion of its Life & Retirement […]
Read moreMarch 29, 2022 8:15 am
The shares of Barclays PLC (BARC) retreated more than 4% in early London trading session on Tuesday, after a top investor reportedly sold stock equivalent to a 3% stake in the company. According to a report by Reuters, an investor, whose identity was not disclosed, initiated a sale of 575 million shares on Monday evening, […]
Read moreMarch 28, 2022 7:25 am
General Motors Co (GM) said last week that it would idle for two weeks in April its assembly facility in Indiana, where it builds Chevrolet Silverado 1500 and GMC Sierra 1500 models, due to continuing semiconductor chip shortages. The company said it intended to halt production at its Fort Wayne assembly facility for two weeks, […]
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