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Starbucks has struck a major deal to sell a controlling stake in its China operations to Boyu Capital. The agreement values the business at around $4 billion. Under the deal, Boyu will hold up to 60% of Starbucks’ Chinese retail operations. Starbucks will keep the other 40% and continue to own and license its brand…
British retailer and food group Associated British Foods (AB Foods) is reviewing whether to separate its affordable-fashion chain Primark from its food business. The move comes after a full-year profit drop of about 13 % due to weak performance in its sugar division. In its results year ending 13 September, AB Foods reported revenue of…
BP beat analysts’ expectations in the third quarter of 2025, reporting an underlying profit of $2.21 billion, up from the $2.02 billion forecast. While this figure is slightly below the $2.27 billion recorded a year ago, it signals resilience amid falling crude prices. Brent oil averages dropped about 13%. The stronger-than-expected result was driven by…
German luxury fashion brand Hugo Boss reported that third-quarter sales fell by 4% to €989 million. On a like-for-like basis, sales dropped by 1%, due to weak retail demand in China and the UK, and a strong euro. While markets like Germany, France and the US showed some strength, the Asia-Pacific region continued to drag….
The CEO of Australia’s telecom firm Optus, Stephen Rue, formally apologised to Parliament for a critical outage of the “000” emergency line that has been linked to four deaths. The outage occurred on 18 September and affected thousands of users in multiple states. It happened during a routine firewall upgrade where traffic rerouting failed. Amid…
Hong Kong is loosening regulations to boost virtual-asset trading liquidity and strengthen its role as a fintech hub. The Securities and Futures Commission (SFC) announced that locally licensed virtual-asset trading platforms (VATPs) will now be able to share their order books globally with overseas affiliates. This replaces a rule that kept Hong Kong’s platforms ring-fenced. …
Australia’s third-largest lender, Westpac Banking Corp, announced its annual profit fell to A$6.99 billion for the year ending September 30, 2025, down from A$7.11 billion a year earlier. Despite the dip, the result surpassed analysts’ expectations of around A$6.83 billion. The bank pointed to intense competition in the home-loan market and a narrowing net interest…
A coalition of major investors overseeing approximately US $18 trillion in assets is calling for the creation of a new agency to monitor the global minerals market. Modeled after the International Energy Agency (IEA), the proposed International Minerals Agency (IMA) would track global demand and supply of critical minerals. These include lithium, cobalt and others…
Donald Trump sat down with Norah O’Donnell at his Mar-a-Lago estate for an exclusive interview airing on 60 Minutes this Sunday. This marks Trump’s first sit-down with the program since his network, CBS News, parent company settled a lawsuit. Earlier this year, CBS’s parent company agreed to a roughly US $16 million settlement with the…
Global markets kicked off Monday with a cautious tone as investors shifted focus to private jobs data in the U.S., due to the ongoing government shutdown delaying official employment figures. The U.S. dollar held near a three-month high, reflecting expectations that the Federal Reserve may delay further rate cuts. Meanwhile, the euro hovered at its…
