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FEMSA Makes a $1.2 Billion Bid for Valora

After conquering Latin America, Mexican beverage and retail giant Fomento Economico Mexicano (FEMSA) now has its sight on Europe. According to Bloomberg, FEMSA just made $1.2 billion for Swiss retail holding company Valora. Valora has retail, services, and trade operations throughout Central Europe. Its retail...

Automaker Geely Enters the Smartphone Business, Buys Meizu

The already crowded smartphone market is getting another major player. According to Reuters, Chinese automaker Geely is entering the smartphone business after acquiring close to 80% stake in tech brand Meizu through its subsidiary Hubei Xingji Shidai Technology. In an official statement, Geely said that...

Ernst & Young to Pay $100 Million for Ethics Exam Cheating

Ernst & Young, one of the biggest accounting firms in the world, agreed to shell out $100 million to settle a fine imposed on it by the Securities and Exchange Commission (SEC). The multinational firm also partially admitted that some of its employees engaged...

Bed Bath & Beyond Plunges More Than 19 Percent after CEO Change

Troubling sales in the last quarter have prompted retailer Bed Bath & Beyond to make a change at the CEO position. The company announced on Wednesday that Mark Tritton would leave his position as CEO and seat on the board, with board member Sue...

India’s Reliance Industries Looking to Acquire UK Pharmacy Chain Boots

Indian conglomerate Reliance Industries Ltd. is looking to make its way into the UK pharmacy market. According to finance outlet Mint, Reliance is currently working on securing $8 billion capital to acquire pharmacy chain Boots. Reliance Industries have been in contact with Barclays Bank, Deutsche...

Toyota and Subaru Stocks Plunge Amid Electric Cars Recall

Toyota Motors' venture into all-electric vehicles is off to a bad start. The automaker recalled 2,700 units of its bZ4X SUV model after discovering that some cars had a risk of their wheels coming off. As a result, Toyota's stock lost 0.7 percent in...