#bworldfinance

PepsiCo to Acquire SodaStream for $3.2 billion

Beverage and snack maker PepsiCo announced on Monday that it plans to acquire at-home carbonated drink maker SodaStream for $3.2 billion.

The New-York based company agreed to whip out $144 per share in cash for SodaStream’s outstanding stock. This is a 32 percent premium on its 30-day volume weighted average price.

The agreement will give Pepsi a new line through which the company can reach…

Didi Faces Regulatory Pressures on Latest Killing Incident

China’s biggest ride-hailing company Didi Chuxing has now suspended its carpooling services after a passenger was killed. The company is also likely to face tighter oversight that will squeeze driver numbers and extend customer waiting times.

The incident follows a similar killing by a Didi driver last May. This triggered public and government backlash and created an opening for rival services to…

Samsung, Ericsson Increase Network Gear Market Share

Ericsson increased its mobile networks market share during the second quarter, while Samsung Electronics ranked into the fourth place, according to the data from research firm Dell’Oro.

Ericsson, which is the second largest maker of radio access network (RAN) gear, as well as Samsung benefited from the increasing US demand as China’s ZTE slipped into the fifth place following US sanctions in…

Oil Prices Higher on Low US Crude Inventories

Oil prices increased on Wednesday on a slip in US crude inventories and a weaker dollar, while concerns about a potential shortfall in Iranian supply from November due to US sanctions also propped up prices.

Brent crude oil futures were at $72.90 per barrel, higher 27 cents, or 0.37 percent, from their last close.

US West Texas Intermediate (WTI) crude futures were higher 27 cents, or 0.41…

Cheaper Cars from Tesla in 3 Years, says Musk

Tesla chief executive officer Elon Musk indicated that the automaker could take around three years to come up with a low-cost version of a car, even he also admitted that such a goal would be “really tough” to do on the backdrop of the sector’s economics and competition.

In the midst of the recent turmoil surrounding Musk’s stated goal to take Tesla private, the CEO sat down and participated in…

Larry Kudlow Confirms US-China Summit Later in August

White House economic advisor Larry Kudlow confirmed that the US and China will resume trade talks later this month, but warned that US President Donald Trump has a strong determination to make sure that the US gets a good deal.

Kudlow serves as the director of the National Economic Council and is one of Trump’s top advisors.  His office will likely be involved when Chinese delegation touches…

Tencent Shares Plunge Further on Lackluster Profit Report

Shares in China’s Tencent Holdings have lost even further on Thursday after it reported its first quarterly profit decline in almost 13 years and said that it did not know when it would get Chinese approval to make money off of its most popular game.

The lackluster earnings results have underscored the impact of a ban on a freeze on new China approvals for the gaming industry since March because…

Home Depot Beats Q2 Expectations

Home Depot reported second-quarter earnings and sales that far exceeded expectations, enjoying the benefits of a warmer start to the summer.

The home improvement seller had a floundering spring season.  Now it raised its outlook for revenue and same-store sales for the whole year, stating the number of costumer transactions increased during the quarter, adding that consumers were spending more…