Business

Starboard Value owns a stake in News Corp. It is pushing billionaire Rupert Murdoch, the owner of that company, to split it up. Legacy media groups are under increasing pressure to improve their performance from shareholders. Jeff Smith,…

X (formerly Twitter) has signed a deal that is a first of its kind with Paris Hilton. The agreement will focus on live shopping, exclusive content and other features. This comes as Linda Yaccarino, the chief executive, tries to revive X's…

International Holding Company, a conglomerate based in Abu Dhabi, is selling its stakes in two companies owned by Indian tycoon Gautam Adani. This will be a major blow to this business empire that has been accused of accounting fraud.…

Citigroup CEO Jane Fraser warned her bank's 244,000 employees that it was time to "get off the bus" and sign up for her overhaul of group as she cut jobs and hacked back the lender’s top-heavy managerial structure. Fraser's…

GGV Capital, a Silicon Valley venture capital firm, is splitting into separate businesses that will focus on Asia and US. This comes three months after Sequoia Capital took a similar step in response to increasing political pressure from…

Pendragon, the UK's biggest automotive retailer, will sell its dealerships and concentrate on software. This ends a turbulent period during which its largest shareholder scuppered the company's efforts to sell itself. Pendragon announced…

The UK government will announce a subsidy of more than £500mn to ensure the future of Britain’s largest steelworks in Port Talbot, Wales. However, this won't prevent the loss of approximately 3,000 jobs. Two people familiar with the…

Creditors of what was India's once most valuable start up have claimed that the Indian education technology firm Byju's has transferred $533mn from a Florida hedge fund registered at a pancake restaurant. In court documents filed in…

Deloitte will cut hundreds of jobs across the UK due to a slowing in demand for advisory services from clients in an economic climate that is more difficult. According to a source familiar with the plans of the accounting firm, it is…

Citigroup announced its largest reorganisation since almost two decades. The company gave more control to its chief executive Jane Fraser and simplified its management structure. The changes are coming as Fraser battles to turn the…

BMW will invest over £600mn in Oxford to produce electric Minis, preserving the historic plant. This is a vote for confidence in the UK auto industry. According to sources familiar with the situation, the German automaker's investment at…

The Restaurant Group is finalising a deal to sell the Frankie and Benny's and Chiquito's restaurant chains to the owner of Cafe Rouge, in the latest concession to activist investors pushing for a shake-up of the struggling casual dining…

China's slowing economic growth is "very concerning", according to the head of Europe's largest home appliance manufacturer. He warned that the vast manufacturing sector in China could export cheap products abroad as the domestic market…

WeWork is seeking to renegotiate nearly all of its leases around the world, weeks after the SoftBank-backed office space group warned that there was “substantial doubt” about its ability to continue as a going concern. The New York-based…

As Gulf oil wealth flows to all corners of the globe -- backing mega mergers, propping up economies and upending the world of sport -- moves by a key member of Abu Dhabi's ruling family have positioned him as one of the world's most…

Country Garden, a Chinese property developer, paid two dollar bonds on Tuesday within the grace period. This ended a month long saga which had been the focus of investors' worries about China's struggling real estate sector. After local…

Asda's billionaire owners have been asked to provide details about interest-free loans allegedly given to finance the purchase of private planes. Darren Jones, the chair of the Business and Trade Select Committee, wrote to Mohsin…

Nestle divested its peanut allergy business, which it had acquired three years earlier. The treatment was not taken up by doctors or allergy sufferers. Palforzia is designed to reduce the frequency and severity allergic reactions in…