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Japan's Kirin Gets Controlling Stake in Top Myanmar Brewery, Expects Strong Market Growth
Japan's Kirin Holdings has taken a controlling stake in Myanmar's biggest brewer after buying out top shareholder Fraser and Neave as it continues to expand abroad amid a challenging domestic market.
Target Profits Surge to Beat Market Expectations on Sustained Same-Store Sales Growth
Shopping chain Target Corp. on Wednesday announced higher profit outlook for the year due to better performance than anticipated and continue same-store sales growth
Southeast Asia's GrabTaxi Raises $350 Million as E-Hailing App a Hit in the Region
Singapore's Grab Taxi Holdings Pte Ltd., an online ride sharing service in Southeast Asia, has raised $350 million from private placements.
NBCUniversal Invests $200 Million in Buzzfeed to Continue Digital Media Push
A week after buying a $200 million stake in digital media producer Vox Media, NBCUniversal has again invested $200 million in Buzzfeed, another online media company, as the entertainment conglomerate expands online.
Tencent Invests $50 Million in Canadian Startup Kik
Chinese Internet giant Tencent Holdings Ltd. has invested $50 million in Canadian startup Kik Interactive Inc., putting the tech company's value at $1 billion.
Yum Brands Appoints New China CEO, Expects Performance Improvements in H2
Fastfood chain operator Yum Brands Inc. has named a new chief executive for its China operations, where it receives half its sales despite challenges from food-safety issues and changing consumer preference.
Estee Lauder Earnings Decline as Strong Dollar Bites
Cosmetics maker Estee Lauder Cos Inc's profits dropped by more than 40 percent for the quarter ending June, hurt by a stronger dollar and weak demand for skincare products Clinique and Estee Lauder.
Pentair Business Boost Seen with Erico Global Acquisition
Pump and valve maker Pentair Plc announced on Monday the acquisition of electrical fastenings company Erico Global Co. including its debts for $1.8 billion in cash, the New York Times reported.
Foreign Companies in Tianjin Port Suspend Operations as Investigations Continue
Foreign companies around the Tianjin port damaged by a massive blast last week are holding off restarting their operations as officials continue to investigate the cause of the explosions.
Cargill Expands Aquaculture Business with EWOS Acquisition, Will Become Among Leaders in Feed Production
Cargill Inc. will acquire Norwegian salmon-feed supplier EWOS AS for $1.5 billion from private-equity firms Altor Equity Partners AB and Bain Capital Partners LLC as the world's largest grain trader expands its aquaculture business.
Airbus Signs $27 Billion Deal with India's IndiGo for 250 Aircrafts
France's Airbus has signed a deal to sell 250 narrow-body aircraft worth $26.5 billion to IndiGo, India's largest airline which seeks to further cement its leadership in the country's booming aviation industry.
Volkswagen Recalls 460,000 Vehicles in US and Canada on Airbag Issues, Unrelated to Takata Pullout
German carmaker Volkswagen recalled on Friday close to half a million cars in The United States and Canada to ensure that air bags will deploy properly.
US Consumer Sentiment Slides for Second Straight Month But Healthy Economy Suggests Rebound
U.S. consumer confidence dipped for the second consecutive month in August on concerns that an interest rate hike is upcoming, Bloomberg reported.
Macy's Sales Fall Short of Expectations, Announces Entry Into China
Macy's Inc did not meet sales expectations as the stronger dollar dampened foreign tourist spending in its stores while strikes in the West Coast ports and the removal of a sales event further affected performance, reports said.
Kraft Heinz to Axe 2,500 Jobs in Cost Cutting Efforts to Save $1.5 Billion by 2017
Food giant Kraft Heinz Co said on Tuesday that it will axe 2,500 positions in the United States and Canada as the company begins an integration that will allow it to save $1.5 billion until 2017.