Category: Business

Just Eat Takeaway.com NV, the online food-ordering company, on Wednesday said its shareholders approved its proposed $6.9 billion purchase of rival Grubhub , but rejected a pay package for the U.S company’s CEO Matthew Maloney. Takeaway agreed in June to buy Grubhub in a deal to create a transatlantic group which would be the biggest […]

Retailer Miniso Group Holding Ltd, which is backed by Tencent Holdings Ltd 0700.HK, is looking to raise up to $562.4 million in its initial public offering in the U.S., a regulatory filing showed on Wednesday. The China-based company said it would sell 30.4 million American Depositary Shares priced between $16.50 and $18.50 per ADS. Each […]

In spite of the rally in risk markets this year, Pacific Investment Management Company (PIMCO) expects low returns across asset classes in the coming three to five years as the global economy recovers from the coronavirus pandemic. Published on Wednesday, the investment giant’s outlook argues that given the current high valuations in credit and equity […]

Airbnb burned through more than $1.2 billion in cash between mid-2019 and mid-2020, ahead of its high-profile initial public offering (IPO), the Information reported bit.ly/3d8oEtw on Wednesday, citing financial documents. The cash burn depleted more than a third of the company’s cash reserves as of March 2019, after the COVID-19 pandemic-led plunge in global travel […]

Wells Fargo & Co WFC.N has started to cut jobs at its commercial banking unit as part of larger reductions that will impact nearly all of its functions and business lines, a company spokeswoman said on Wednesday. The bank resumed job cuts in early August after it paused layoffs in March because of the COVID-19 […]

Germany’s coalition government agreed a package of reforms to financial and accounting rules aimed at avoiding another Wirecard scandal on Wednesday, but opposition lawmakers said it lacked detail on scope and timing. Finance Minister Olaf Scholz and Justice Minister Christine Lambrecht from the Social Democrats (SPD) said the reform plan had been agreed with the […]

Lowe’s Cos Inc LOW.N said on Wednesday it would give its hourly staff an additional $100 million in discretionary bonuses, as the home improvement retailer prepares for the busy holiday season. The company said hourly staff in its U.S. stores, distribution centers and store support centers will receive the bonus on Oct. 16. Full-time staff […]