Category: Business

Toyota pulls Suzuki firmly into its orbit through stake deal

Toyota Motor Corp (7203.T) and Suzuki Motor Corp (7269.T) will take small equity stakes in each other, the Japanese car makers said on Wednesday, as they seek to develop newer technologies and meet sweeping changes upending the global auto industry. The tie-up is the latest example of automakers chasing scale to manage costs and boost […]

Hudson’s Bay to sell Lord & Taylor for $100 million to clothing rental service Le Tote

Hudson’s Bay will sell Lord & Taylor to clothing rental subscription service Le Tote for $100 million, the company announced Wednesday. The deal allows the department store chain to continue operations, after its Fifth Avenue flagship and other stores closed earlier this year. In May, Hudson’s Bay said it was considering strategic alternatives for the […]

BP to quit Alaska after 60 years with $5.6 billion sale to Hilcorp

British oil major BP Plc on Tuesday agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years. The deal, which includes interests in the most prolific oil field in U.S. history at Prudhoe Bay, and the 800-mile (1,300-km) Trans Alaska […]

Philip Morris and Altria in merger talks as Marlboro fades and e-cigs light up

Marlboro maker Philip Morris International Inc (PM.N) said on Tuesday it was in talks to reunite in a merger with Altria Group Inc (MO.N) following its 2008 spin-off, as the tobacco giants seek to pool resources in the fast growing e-cigarette market. The merger between the two companies, the biggest ever in the consumer sector […]

Yahoo Japan ending ivory sales, joining other online retailers

Yahoo Japan Corp (4689.T) said on Wednesday it will end the sale of ivory on the country’s biggest online auction site, finally joining competitors in a ban. Yahoo Japan will end ivory trading, blamed by wildlife campaigners for perpetuating an illegal international black market, from Nov. 1, the company said in a statement. Rival e-commerce […]

Breakingviews – VW still grapples with Piech’s mixed legacy

Few legacies are either wholly good or bad. Volkswagen’s current management could be forgiven for feeling particularly ambivalent about the heritage of Ferdinand Piech, the company’s former chief executive and chairman who died aged 82 on Sunday. When Piech took the wheel in 1993, 250,000 employees produced about 3 million cars, and the company reported […]

Wake up and smell the coffee: from your Ukrainian sunglasses

Ukraine’s innovative OCHIS eyewear brand is getting customers to literally smell the coffee – by making sunglasses out of coffee waste. Driven by an ambition to create eco-friendly yet fashionable sunglasses, OCHIS COFFEE CEO Maksym Havrylenko experimented with various herbs like mint, parsley, and cardamom, before he found the right natural material in coffee waste. […]