Italy’s UniCredit offers to buy Banco BPM for 10.1 billion euro

Italy’s UniCredit offers to buy Banco BPM for 10.1 billion euro

ITALIAN lender UniCredit said on Monday (Nov 25) it had offered to buy rival Banco BPM in a roughly 10.1 billion euro (S$14.2 billion) all-stock deal that would combine Italy’s second and third largest banks and expand their pan-European presence. UniCredit, the country’s second-largest bank, offered 0.175 of its common stock for each BPM share,…

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BYD’s hybrid pickup targets Australia’s love of fuel-guzzlers

BYD’s hybrid pickup targets Australia’s love of fuel-guzzlers

ONE of the world’s safest havens for fuel-guzzling pickups, Australia, is set for its biggest shakeup in years with the arrival of new models including the first hybrid off-roader from China’s BYD. Australia, famed for its love of petrol-powered SUVs and trucks, has cemented its status as an electric vehicle (EV) laggard. EV sales slumped…

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AI boom makes 139-year-old cable maker Japan’s hottest stock

AI boom makes 139-year-old cable maker Japan’s hottest stock

THE global boom in artificial intelligence (AI) has turned an obscure 139-year-old Japanese company into a stock-market star. Fujikura, which makes wire cabling for data centres, is the best performer on the Nikkei 225 Stock Average index, with its shares surging more than 400 per cent this year. It will join the MSCI global standard…

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