JOHANNESBURG—Walmart Inc. has launched a 6.4 billion rand ($377.6 million) offer for the remaining 47 percent of South African retailer Massmart it does not already own, valuing it at a premium of over 50 percent. Shares in Massmart surged 46 percent after the company announced the news on Monday, as its Chairman Kuseni Dlamini said the…
Walmart Makes Offer to Buy Out Rest of South African Retailer Massmart
Lyft Pauses Hiring, Budgets to Beat Slowdown Following Uber’s Footsteps
Lyft, Inc. looks to slow hiring, reducing some of its departments’ budgets and granting new stock options to some employees to make up for its share price fall, the Wall Street Journal reports. Lyft joined rival Uber Technologies, Inc. in outlining cuts as investor optimism cooled on tech stocks. Lyft looked to prioritize fewer initiatives, not filling many of the current…
Berkshire Hathaway Stock Price Reaches $500,000
The share price of Warren Buffett’s Berkshire Hathaway Inc. reached $500,000 for the first time on Monday, reflecting the company’s status as a defensive stock in a market unsettled by events in Ukraine and rising inflation. Berkshire’s Class A shares have risen 10 percent in 2022, outpacing the Standard & Poor’s 500 index, which has…
A2 Milk Shares Spill After Chinese ‘Personal Shopper’ Market Collapses
A2 Milk shares have plummeted to a two-year low after the company revealed a large fall in profit caused by COVID-19 restrictions. The latest interim report for the company (pdf) revealed it had suffered a 35 percent drop in its half-year net profits after its daigou trade collapsed due to border restrictions and supply chain…
A2 Milk Share Prices Spill After Daigou Collapse
A2 Milk shares have plummeted to a two-year low after the company revealed a large fall in profit caused by COVID-19 restrictions. The latest interim report for the company (pdf) revealed it had suffered a 35 percent drop in its half-year net profits after its daigou trade collapsed due to border restrictions and supply chain…
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