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Mike Lynch and Morgan Stanley’s Jonathan Bloomer missing after luxury yacht sinks off Sicily
British tech tycoon Mike Lynch, Morgan Stanley International director Jonathan Bloomer, and Chris Morvillo, a prominent American lawyer, are among six people still missing after a tornado hit a luxury yacht off the coast of Sicily.
7-Eleven targeted by Circle K owner for huge convenience store tie-up
The Canadian owner of Circle K convenience stores has made a bid to buy 7-Eleven in what would be the biggest foreign takeover of a Japanese company on record and the largest cross-border acquisition this year.
One of the world’s biggest booze makers is ditching wine brands as the world drinks less
Pernod Ricard is selling most of its wine brands, as wine consumption is falling globally, and will instead focus on growing its champagne and premium spirits labels, including in the United States.
Armani and Dior probed in Italy following worker exploitation claims
Italy’s competition authority is investigating whether Armani and Dior have misled consumers about their production processes, following reports that local companies in their supply chains pay workers too little and force them to work long hours.
The electric car revolution is on track, says IEA
Global electric vehicle sales are set to rise by more than a fifth to reach 17 million this year, powered by drivers in China, according to the International Energy Agency.
Social Media Regulations in Brazil Urged After Clash with Elon Musk Reaches Breaking Point
Brazil’s attorney general has called for social media platforms in the country to be regulated after Elon Musk threatened to disobey a court order banning certain accounts on X and lashed out against “aggressive censorship.”
BP/UAE suspend $2 billion gas deal in Israel; Gaza war drags on
BP and an oil company owned by the United Arab Emirates have shelved talks to buy a 50% stake in Israel’s leading natural gas producer, judging the $2 billion deal too risky as the war in Gaza rages.
Cash-strapped Britain cuts taxes for workers; election looms
UK finance minister Jeremy Hunt announced a tax cut for workers Wednesday as he unveiled what is likely to be the government’s last budget before a general election later this year.
Disney and Mukesh Ambani create new India media giant with 750 million viewers
Disney is joining forces with Asia’s richest man to create a new media giant in India that says it will reach a domestic audience of more than 750 million people.
Apple cancels work on electric car, reports say
Apple has abandoned decade-long efforts to build an electric car, according to multiple media reports, calling time on a project that some saw as potentially transformative for the auto industry.
Emirates head says "Boeing in ‘last chance saloon,’"
Tim Clark, the president of Emirates, has joined a chorus of airline executives in warning that Boeing is running out of time to restore its reputation following a series of safety and manufacturing blunders.