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U.S. drug wholesaler AmerisourceBergen Corp said on Wednesday it would buy Walgreens Boots Alliance’s distribution business for $6.5 billion to expand in Europe as well as to compete better in the U.S. healthcare sector.

The deal will help Walgreens focus more on core pharmacy unit and its retail business, where sales have tanked due to the COVID-19 pandemic, resulting in a nearly 30% slump in shares in 2020.

AmerisourceBergen will get access to Alliance Healthcare, one of the largest distributors in Europe that has weathered the impact of the global health crisis.


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Health insurer UnitedHealth Group on Wednesday agreed to buy Change Healthcare for $7.84 billion in an all-cash deal, as it looks to expand its fast-growing healthcare technology business.

UnitedHealth will pay $25.75 per Change Healthcare share, a premium of 41.2% to Tuesday’s closing price. Shares of Change, which will merge with UnitedHealth unit Optum, were trading near the offer price at $23.88.

Change Healthcare, which is 20% owned by Blackstone Group, provides billing and payment process services to more than 2,000 payers and 1 million providers, according to Citi.


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Britain’s competition regulator said on Wednesday it would start an investigation into Nvidia Corp’s $40 billion deal to buy UK-based chip designer Arm Holdings.

The Competition and Markets Authority (CMA) said it was “likely to consider whether, following the takeover, Arm has an incentive to withdraw, raise prices or reduce the quality of its IP licensing services to Nvidia’s rivals.”

Nvidia, the biggest U.S. chip ...


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Ford Motor Corp on Wednesday posted a 9.8% fall in quarterly U.S. auto sales, as a fall in sales of its profitable trucks outweighed higher demand for sport utility vehicles.

The No. 2 U.S. automaker sold 542,749 vehicles in the fourth quarter, down from 601,862 a year earlier.

The automaker posted a 12.5% decline in truck sales, while passenger car sales fell 41.1% as it continues to phase out traditional sedan models in North America that have become increasingly unpopular with consumers.


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The New York Stock Exchange said on Wednesday it will delist three Chinese telecom companies, confirming its latest reversal on the matter a day after U.S. Treasury Secretary Steve Mnuchin told the NYSE chief he disagreed with an earlier decision to reverse the delistings.

The latest move, which is effective Jan. 11, marks the third time in less than a week the Big Board has ruled on the matter. The flip-flopping highlights the confusion over which firms were included in an executive order issued by President Donald Trump in November barring U.S. persons from investing in publicly traded companies Washington deems to be tied to the Chinese military.


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Amazon.com Inc said on Wednesday it would spend $2 billion to create affordable homes in regions where three of its major U.S. employment hubs are located.

The company said it intends to create at least 20,000 affordable housing units in Puget Sound area of Washington State, Virginia’s Arlington and Nashville in Tennessee.

Amazon and other tech companies have faced criticism for driving up home prices in places such as the San Francisco Bay Area due to an influx of workers over the past decade, prompting Alphabet Inc and Facebook Inc to invest in affordable housing.


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Qualcomm Inc, the world’s biggest supplier of mobile phone chips, said on Tuesday it had named its president and chip division head Cristiano Amon as its new chief executive.

Amon, who has been with the San Diego-based company since 1995 and became president in 2018, will replace outgoing CEO Steven Mollenkopf, effective June 30.

In recent years Amon has overseen the company’s chip division, which supplies processors to most Android phones and modem chips that help Android devices and Apple Inc’s iPhones connect to wireless data networks.


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U.S. President Donald Trump on Tuesday signed an executive order banning transactions with eight Chinese software applications, including Ant Group’s Alipay, the White House said, escalating tensions with Beijing before President-elect Joe Biden takes office this month.

The order, first reported by Reuters, tasks the Commerce Department with defining which transactions will be banned under the directive and targets Tencent Holdings Ltd’s QQ Wallet and WeChat Pay as well.


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(Reuters) - Department store operator Macy’s Inc said on Tuesday it would close about 45 stores this year as part of its three-year plan to lower store count in order to focus on its more productive outlets.

Even before the lockdowns in the United States last year, Macy’s had announced the plan to close 125 of its least productive stores to tackle plummeting mall traffic. It had closed about 30 stores in 2020.

“Macy’s is committed to rights...


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U.S. jeweler Tiffany & Co said it reported record sales for the 2020 holiday period as consumers stuck at home shopped more online and shoppers in China spent more on jewelry.

The company, which will soon be bought by France’s LVMH , said its overall preliminary net sales rose about 2% for the period Nov. 1 through Dec. 31, compared with a year earlier, with e-commerce sales surging more than 80% during the period.

The 2020 holiday season was unusual as the virus outbreak upended shopping patterns, with more consumers avoiding malls and retail stores and opting to shop online.