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Lettuce Shortage Forces KFC Australia To Replace It With Cabbage

Lettuce is in low supply in Australia. That has forced the fast food giant KFC to use cabbage in its burgers and wraps instead of lettuce.   Following the destruction of lettuce harvests by floods, the company informed clients that it is employing a mixture of lettuce and cabbage. It comes...

Elliott Associates Sues LME For $456 Million Over A Suspension In Nickel Trading: HKEX

Elliott Associates has filed a $456 million lawsuit against the London Metal Exchange (LME) following the suspension and cancellation of nickel trading on the platform controlled by Hong Kong Exchanges and Clearing Ltd, the Hong Kong bourse announced on Monday.   LME and LME Clear Limited...

UniCredit Broadens Its Search For Buyers To Exit Russia

Italian bank UniCredit has expanded its search for a buyer for its Russian business beyond local investors as it prepares to exit the country, according to reports quoting sources.    UniCredit held conversations with local bidders, but growing Western sanctions impeded those attempts,...

Elon Musk Plans To Reduce Tesla Workforce By 10%

Tesla CEO Elon Musk has a "very awful feeling" about the economy and believes the electric carmaker needs to eliminate approximately 10% of its salaried workforce, according to report by Reuters based on emails obtained by it    On Thursday, he issued a note to executives outlining...

Credit Suisse Considers Capital-Raising Possibilities

Credit Suisse is in the early stages of examining possibilities to boost its capital after a spate of losses has depleted its financial reserves, according to a report published by Reuters quoting sources.   The scale of the increase is expected to surpass one billion Swiss francs ($1.04...

Shell Is Negotiating With Indian Consortium To Divest Its Stake In Russian LNG Plant: Reports

According to reports citing sources, Shell is in talks with a group of Indian energy companies to sell its part in a major liquefied natural gas plant in Russia that the British giant abandoned following Moscow's invasion of Ukraine.   The consortium's possible interest in the Russian...

Pfizer Will Sell Off Sell All Its Patented Drugs In Low-Income Countries At Nonprofit Price

Pfizer Inc announced on Wednesday that it will make all of its patented medications, including the COVID-19 therapy Paxlovid and the popular breast cancer drug Ibrance, available at a not-for-profit price to 45 of the world's poorest countries.   These countries do not have easy access to...

Private Investment Firm KKR Sets Up Inaugural Asia Focused $1.1 Bln Credit Fund

KKR has secured $1.1 billion for financing its first Asia credit fund, which provides loan financing to businesses. This is one of the largest first-time fundraisings in Asia Pacific, according to the US private equity giant.   Private credit funds have grown in popularity in Asia in...

Chipmaker Broadcom Negotiating With Vmware For An Acquisition; Reports

Chip making giant Broadcom Inc is currently holding negotiation to acquire cloud service provider VMware Inc, said report quoting sources with knowledge of the matter. If this deal goes through, it would help turn the chipmaker into a diversified tech company.   The sources quoting in the...

Sexual Harassment Claim Against Musk And His Criticism By US Democrats Threatens Tesla Brand

Elon Musk has established a reputation for himself and Tesla by breaching the rules, but the billionaire's latest remarks on politics, as well as a charge of sexual harassment against him that he claims is false, may damage the brand of Tesla and himself as believed by some Tesla customers and...

Auto Parts Maker Sona BLW Plans Large Investments Globally In EV Push

Sona BLW Precision Forgings, an Indian auto parts manufacturer, expects electric vehicle (EV) components to account for two-thirds of its income in the next years, as automakers in India as well as the rest of the world sped up to manufacture more environmentally friendly vehicles, according to the...

McDonald's Will Rename And Sell Its Outlets In Russia To A Local Operator

McDonald's Corp said on Thursday that it is selling its restaurants in Russia to one of its current local licensees, who would rebrand them under a new name, putting an end to more than three decades of the "Golden Arches" in the nation.   In Russia, the world's largest burger company...
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