Trucking firm Estes Express has submitted a revised stalking horse bid worth $1.525 billion in cash for bankrupt Yellow Corp’s shipment centers, according to a bankruptcy court filing on Wednesday.
Chip designer Arm Holdings Plc secured a $54.5 billion valuation in its U.S. initial public offering (IPO) on Wednesday, seven years after its owner SoftBank Group Corp took the company private for $32 billion.
SoftBank’s chip designer Arm Holdings is set to debut on the Nasdaq on Thursday, in what is expected to be the biggest test for the U.S. IPO market after a listing drought that lasted for nearly 16 months.
Tesla has combined a series of innovations to make a technological breakthrough that could transform the way it makes electric vehicles and help Elon Musk achieve his aim of halving production costs.
The city of Hamburg’s economy authority said there was no counter offer on the table from billionaire logistics investor Klaus-Michael Kuehne for a majority stake in the HHLA port operator, in an emailed statement to Reuters on Thursday.
China’s central bank has asked some of the country’s biggest lenders to refrain from immediately squaring their foreign exchange positions in the market, and to run open positions for a while in order to alleviate downside pressure on the yuan, two sources with knowledge the matter said.
India’s Goa state has warned the local unit of Abbott Laboratories it plans to suspend the manufacturing license of its popular antacid medicine after inspectors flagged contamination risks and sanitization issues at its factory, government documents show.
Indonesia’s trade surplus in August likely widened slightly from a month earlier amid falling imports, even as exports were expected to remain weak, a Reuters poll showed on Thursday.
South Korea’s central bank said on Thursday it needs to make coordinated efforts to contain household debt, which is at levels that could undermine economic growth and financial stability.
Hungary’s central bank could cut its base rate to 10-11% by the end of the year from 13%, a rate-setter told Reuters, warning however against big or unexpected moves amid the fallout from a larger-than-expected rate cut in Poland last week.
