Corporate Strategy

Equities Staff | |

Seven & i Holdings, 7-Eleven’s parent company and the world’s largest franchiser of convenience stores, has agreed to purchase Speedway gas stations from Marathon Petroleum for $21 billion.

The deal is the second-largest purchase by Seven & i, after its $3.3 billion deal for over 1,000 Sunoco stations was completed in 2018.

Seven & i reportedly turned down a $22 billion offer by Marathon in March 2020, and investors appeared to frown on the slight discount upon whi...

Reuters | |

Insurer American International Group Inc on Monday posted a 56% fall in quarterly adjusted earnings, spurred partly by higher catastrophe losses and lower private-equity returns.

Adjusted after-tax income attributable to AIG common shareholders fell to $571 million in the second quarter ended June 30, from $1.3 billion a year earlier.

Excluding items, AIG earned a profit of 66 cents per share compared with $1.43 per share a year earlier, exceeding Factset expectations of 50 cents per share, the company said.

Reuters | |

Samsung Electronics Co Ltd is forging a comeback in India’s smartphone market with a new range of budget devices and a ramped-up online presence, aiming to recoup ground ceded to Chinese rivals such as Xiaomi Corp.

Samsung, the only major non-Chinese player in the country, has already begun to gain ground, and a surge in anti-China sentiment in India following a border clash in June is expected to provide a fresh boost.

Samsung jumped to the No. 2 spot with 26% market share in the second quarter behind Xiaomi’s 29%, according to tech researcher Counterpoint, as the South Korean company’s diverse and inhouse supply chain helped it avoid product delays suffered by rivals during coronavirus lockdowns.

Reuters | |

United Parcel Service Inc exceeded analyst estimates for quarterly profit and revenue on Thursday as pandemic-fueled rises in lucrative healthcare and air shipments helped offset a margin squeeze from surging e-commerce home deliveries, sending shares up as much as 17.6%.

The novel coronavirus outbreak has disrupted operations at UPS and other large delivery firms - accelerating shipments of everything from fac...

Equities Staff | |

Amazon has begun offering fast, free deliveries of online groceries to Prime members living in London in a move that had been reported by trade press earlier this year..

The company will expand its service to millions of Prime and Amazon Fresh members across multiple cities in the UK by year-end, with Birmingham, Manchester and Edinburgh to be among the first places to benefit, according to The Guardian.

The company will offer free delivery within two hours on grocery purchases or...

AP News | |

Deutsche bank reported a small net profit of €61 million ($71 million) in the second quarter as cost-cutting and revenue growth outweighed increased loan losses due to the virus outbreak.

The gain compared with a loss of 3.1 billion euros in the year-earlier quarter, when the bank had large expenses related to its ongoing restructuring.

The bank based in Frankfurt, Germany, said Wednesday it had cut its cost base by 10% to 4.8 billion euros as ...

AP News | |

Google has decided that most of its 200,000 employees and contractors should work from home through next June, a sobering assessment of the pandemic’s potential staying power from the company providing the answers for the world’s most trusted internet search engine.

The remote-work order issued Monday by Google CEO Sundar Pichai also affects other companies owned by Google’s corporate parent, Alphabet Inc. It marks a...

Reuters | |

Business software group SAP said on Sunday it planned to float Qualtrics, the U.S. specialist in measuring online customer sentiment, which it acquired in late 2018 for $8 billion.

The move to float Qualtrics in the United States would partly unwind the final major acquisition of former Chief Executive Bill McDermott’s tenure and rebalance SAP back towards its German roots under successor Christian Klein.

“SAP’s primary objective for the IPO is t...