Porsche and Rimac establish joint venture for Bugatti

Porsche and Rimac have agreed to form a joint venture involving Bugatti. The hypercar manufacturer will be called Bugatti-Rimac, Porsche announced. The joint venture, which will be headquartered in Zagreb, is scheduled to be established in the fourth quarter of 2021.

Guacamole Mafia?

As summer brightens our mood, even crime reports are taking a light-hearted (and delicious) turn.

Forget diamonds and gold bars: avocados are the now the prize for organised crime rings.

SoftBank-Backed Fortress Investment Strikes $8.7 Billion Deal to Buy Morrisons U.K. Grocery Chain

A group of investors led by SoftBank Group Corp.’s Fortress Investment Group LLC agreed Saturday to acquire U.K. grocery chain WM Morrison Supermarkets PLC for more than $8.7 billion, a bet that the retailer can thrive in a hypercompetitive industry grappling with the shift to online commerce.

H&M 2Q Profit Beat Views Amid Well-Received Collections, Easing Restrictions

Sweden's Hennes & Mauritz AB posted a forecast-beating rise in second-quarter net profit after experiencing a strong recovery from the pandemic amid well-received collections and easing restrictions.

Exxon Mobil Selling Santoprene Unit to Celanese

Exxon Mobil Corp. has agreed to sell its Santoprene business to Celanese Corp. Chemicals-and-specialty-materials company Celanese said it will acquire the unit for $1.15 billion and finance the transaction using excess cash and liquidity available on its balance sheet.

United Places Its Biggest Jet Order – 270 Boeing and Airbus Planes

United Airlines Holdings Inc. is making its largest ever plane order, adding Boeing and Airbus jets to fuel its post-pandemic growth plans. The Chicago-based airline said that it will purchase 200 of Boeing Co.'s 737 MAX jets and 70 larger Airbus SE A321neos, a deal valued at more than $30 billion at list prices before customary discounts.

Sanofi sells 16 consumer healthcare products to Germany's Stada

Sanofi announced that it has signed an agreement with Germany's Stada to sell 16 of its consumer healthcare products marketed in Europe. The amount of the transaction was not specified.

Tech Firms Probed Over Fake Reviews

The U.K.'s antitrust regulator launched an investigation into whether Amazon.com Inc. and Google are doing enough to crack down on fake reviews, adding a new layer to regulatory scrutiny of U.S. tech giants. The Competition and Markets Authority said the move stems from concerns Amazon and Alphabet Inc.'s Google haven't been doing enough to address fake reviews on their sites, but added that it hasn't yet reached a view on whether the companies have broken the law.

Eli Lilly Stock Jumps, Biogen Drops on Alzheimer's Treatment Approval

Eli Lilly shares jumped 7.3% in premarket trading after the drug maker said it received breakthrough therapy designation for its Alzheimer's treatment from the Food and Drug Administration. The move is meant to expedite the development and review of the experimental treatment.

Europcar rejects takeover offer

The Board of Directors of Europcar Mobility Group has recently received an expression of interest regarding a possible transaction on the company's share capital. After studying this proposal carefully, the Board of Directors of the Company has concluded that the price of EUR0.44 per share proposed does not reflect the Company's full value and value creation potential.