Carvana, the online retailer that revolutionized the used-car market, is making a bold move into new vehicle sales by acquiring seven franchised dealerships. Experts in the industry suggest this could significantly change the traditional auto retail landscape in the U.S.
Elon Musk's spaceflight company Space Exploration Technologies Corp. or SpaceX (SPCX) announced Tuesday that its wholly-owned subsidiary X67, Inc. has agreed to merge with and into Cursor, the artificial intelligence (AI) coding startup developed by Anysphere, Inc., in an all-stock deal valued at about $60 billion.
Yum! Brands, Inc. announced Tuesday its definitive agreement to sell its popular brand Pizza Hut in two separate deals for $2.7 billion in the aggregate, subject to certain purchase price adjustments. Further, the firm's Board of Directors approved an incremental $4 billion share repurchase authorization, which will be conducted with the net after-tax proceeds.
KFC is kicking off a big global makeover aimed at drawing in a younger crowd, focusing on boneless chicken options, a wider range of sauces, and revamped restaurant designs, especially as the competition heats up in the fast-growing chicken market.
McDonald's is making a splash by bringing back one of its most cherished items the original Fried Apple Pie for a limited run after being gone for over three decades.
Google has launched Android 17, introducing new multitasking, gaming, productivity, and security features. The latest Android update will roll out first to eligible Pixel devices and expand to other Android smartphones later in 2026. One of the headline additions is Bubbles, which allows users to...
UK tool and equipment hire group Speedy Hire Plc (SDY.L) on Wednesday reported a wider net loss for fiscal 2026, hit by one-off costs and customer delays, while revenue was broadly flat amid subdued market demand. Further, the company trimmed annual dividend. Looking ahead to fiscal 2027, the company...
The British pound weakened against other major currencies in the European session on Wednesday, following the release of U.K. consumer inflation data in May. Data from the Office for National Statistics showed that the U.K. consumer price inflation remained stable in May. Consumer prices registered...
Siemens Energy AG (SMNEY.PK) and Neptun Smulders Offshore Renewables (NSORe) have been awarded a contract by German transmission system operator 50Hertz for the North Sea Connector 2 project, Siemens Energy said on Wednesday. The North Sea Connector 2 grid connection system will enable up to 2 gigawatts...
On Wednesday, AO World PLC (AO.L), a UK-based electrical retailer, reported higher profit in the fiscal 2026, due to favourable costs and higher revenue. Furthermore, the company stated that it intends to return 20 million pounds to shareholders through a special dividend and a new share buyback. Looking...
Uber Technologies, Inc. (UBER) and autonomous driving technology company WeRide Inc. (WRD) on Wednesday said they plan to launch Robotaxi services in the Greater Zurich region later this year, marking their second joint deployment in Europe after recently announcing a service in Madrid. WeRide said...
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.
Accenture (ACN) has agreed to acquire Alfahealth, a subsidiary of engineering Group, in a move aimed at strengthening its digital health capabilities and supporting the modernization of Italy's health system.
Neurizon Therapeutics Limited (NUZ.AX), a late-stage clinical biotechnology company, announced the execution of a strategic long-term supply agreement with Elanco Animal Health for Monepantel in developing its lead asset NUZ-001 for Amyotrophic Lateral Sclerosis (ALS). The deal follows a global license...
Oncolytics Biotech Inc. (ONCY) has secured a new U.S. patent that extends protection over the commercial manufacturing process of its investigational immunotherapy Pelareorep, making another step in the company's long-term intellectual property strategy.
Island Pharmaceuticals Ltd. (ILA.AX), an antiviral drug development and biodefence company, on Wednesday announced receipt of an orphan drug designation for Galidesivir in the post-exposure prophylaxis of Marburg virus disease from the U.S. Food and Drug Administration (FDA). The Marburg virus can...
Redcare Pharmacy N.V. (SAE1.F, RDC.DE) Monday raised its full-year 2026 guidance after reporting stronger-than-expected trading during the first two months of the second quarter, driven by accelerating growth in both prescription (Rx) and non-prescription (non-Rx) sales. The online pharmacy operator...
Hungary's average gross earnings growth eased to the lowest level in four months. Average gross earnings grew 9.0 percent annually in April, slower than the 9.2 percent growth in March. The average gross earnings were HUF 772,165 in April compared to HUF 779,752 in the previous month. Net earnings increased by 11.2 percent, and real earnings were 8.9 percent higher than a year earlier.
South Africa's consumer price inflation accelerated in April to the highest level in nearly two years amid higher fuel costs. The consumer price index, or CPI, climbed 4.5 percent year-on-year in May, faster than the 4.0 percent rise in the previous month. Inflation based on transportation quickened to 9.4 percent from 4.9 percent amid a 28.7 percent surge in fuel costs.
Slovakia's EU measure of inflation eased marginally in May as expected. The EU measure of the harmonized index of consumer prices, or HICP, rose 4.0 percent year-on-year in May, slower than the 4.1 percent increase in April. The annual price growth in food and non-alcoholic beverages softened to 0.3 percent from 1.0 percent, and that in health slowed to 4.4 percent from 4.8 percent.
Austria's consumer price inflation increased as estimated initially in May to the highest level in five months. The consumer price index climbed 3.7 percent year-over-year in May, faster than the 3.4 percent increase in April. Inflation based on transportation accelerated to 8.8 percent from 7.7 percent due to a 26.5 percent surge in fuel costs.
Accenture Plc (ACN) on Wednesday announced an agreement to acquire Alfahealth, a subsidiary of Engineering Group, for undisclosed consideration. The transaction is subject to customary closing conditions. The acquisition is expected to strengthen Accenture's healthcare capabilities in Italy by...
The world is preparing for the much awaited news of Space Exploration Technologies Corp. or SpaceX, tech visionary Elon Musk's brain child, starting trading on the U.S. Market for the first time. The initial public offering or IPO, which is deemed to be the largest stock market debut in history, is making Musk world's first trillionaire.