The San Miguel Corporation approved a deal to buy 80% of Eagle Cement the Philippines' biggest independent cement producer, for 22.05 pesos per share. This was revealed in a regulatory filing by San Miguel President and CEO Ramon Ang on Tuesday night. Additionally, CEO Ang did not attend board meeting discussing the deal as he is also chairman and...
The U.S. dollar sank on Monday, bolstered by a risk-on sentiment and some hope that recent warmer temperatures and falling energy prices will prevent gas rationing on the continent this winter. In contrast, the STOXX 600 index rose 0.5%. Traders are betting China will ease its COVID restrictions, even though officials have said they do not plan an imminent reopening. Against...
Carrefour (CARR.PA) will leverage its e-commerce channels, open more discount stores, and cut costs to accelerate the turnaround while curb soaring inflation. The French retailer also announced a media joint venture with ad giant Publicis on Tuesday, aiming for cost savings of over 4 billion euros ($4 billion) and net free cash flow of over 1.7 billion euros ($1.7...
