Soul Patts, Brickworks to Cement Ties With $9 Billion Merger
Australian investment manager Washington H. Soul Pattinson and building-products maker Brickworks agreed to merge into a single company worth US$9 billion, cementing a formal relationship that began almost 60 years ago.
----
Rio Tinto Agrees to New Management Plan in Area Where It Destroyed Ancient Caves
Rio Tinto has agreed to a new management plan with a local indigenous group that covers its iron-ore operations in an area of Australia's Pilbara region where it destroyed two ancient rock shelters five years ago.
----
Chinese EV Makers Pull Away From Tesla With Sales Gains
NIO, XPeng, and Li Auto delivered almost 98,000 cars in May, up about 50% from a year ago. BYD delivered more than 200,000 all-electric vehicles, up 40% from last year.
----
Inside the Spectacular Downfall of UnitedHealth and Its CEO
Andrew Witty, who largely led the U.S. healthcare giant from the U.K., made big bets on Medicare enrollees that backfired.
Tesla must decide how to pay Elon Musk, who has demanded a bigger stake and whose last package has been thrown out.
----
Trump Administration Targets Tech Firms as It Cuts More Contracts
Officials are expanding the review of federal contracts beyond consulting firms and entering a new phase focused on tech companies.
----
Sanchez Lenders Regain Control of Driller Five Years After Bankruptcy
A federal appeals court said a bankruptcy judge was wrong to strip control of Sanchez from top lenders Apollo and Fidelity.
----
Trump Says Steel and Aluminum Tariffs Will Double to 50%
The president said U.S. Steel, which is in a deal to be taken over by Tokyo-based Nippon Steel, will remain U.S.-controlled.
----
Retailers Flex Their Vocabulary to Warn of Potential Tariff-Driven Price Hikes
Retailers are walking a tightrope to convey they're looking to raise prices without actually saying they're raising prices.
----
Judge Examines Steps to Limit Google's Reach in AI Arms Race
Lawyers began making closing arguments Friday in a landmark antitrust case over the online search market and future of AI.
----
NatWest Returns to Private Ownership as U.K. Government Completes Exit
The Treasury received a total of £35.0 billion from its shareholding in the company, or £10.5 billion less than what it paid in the bailout.
----
Azul Gets First-Day U.S. Court Approvals in Chapter 11 Process
The court granted approval for the Brazilian airline operator to access $250 million of its $1.6 billion debtor-in-possession financing.
----
HSBC Retreats From Banking Smaller U.S. Businesses
HSBC is disbanding a division that serves small and medium-size companies in the U.S., part of a push to focus on markets where it has an edge.