Business

CCP approves acquisition of PIA by Holdco The antitrust watchdog on Saturday announced the approval of the Scheme of Arrangement for the acquisition of 100% shareholding in Pakistan International Airlines Corporation Limited (PIACL) by a new company named PIA Holding Company Limited (Holdco). In its order, the Competition Commission of Pakistan (CCP) said that the acquisition of PIA Corporation by …

Warren Buffett held Berkshire Hathaway’s first meeting without Charlie Munger Welcome to “Woodstock for capitalists.” Tens of thousands of Berkshire Hathaway shareholders and Warren Buffett fans are flocking to Nebraska this weekend to pick up Berkshire’s ( BRKB ) See’s Candies and Dairy Queen Dilly Bars, compete in newspaper throwing contests and, perhaps most importantly, to see the Oracle of …

Turkey halts trade with Israel because of the Gaza war Turkey has halted all import and export transactions with Israel in protest against the war in Gaza. “All import and export transactions related to Israel, including all products, have been stopped,” Turkey’s trade ministry said in a statement Thursday. “Turkey will implement these new measures firmly and decisively until the …

The US economy added just 175,000 jobs last month and unemployment rose to 3.9% US job growth slowed sharply last month, with just 175,000 positions added in April, according to Bureau of Labor Statistics data released Friday. The slower-than-expected rise – April’s tally was the lowest since October last year – came as the Federal Reserve has sought to cool …

Stocks closed higher after a softer-than-expected jobs report fueled hopes of an early rate cut US stocks jumped on Friday after new data showed US job growth slowed significantly last month. After jumping more than 500 points after the opening bell, the Dow closed 450 points higher, or 1.2%; The S&P 500 rose 1.3% and the tech-heavy Nasdaq rose 2%. …

Trump Media accounting firm charged with ‘massive fraud’ BF Borgers, the Trump Media & Technology Group’s independent accounting firm, was charged by the Securities and Exchange Commission on Friday with widespread fraud and accused of operating a “bogus audit mill.” The SEC did not allege wrongdoing against the owner of Truth Social Trump Media (DJT), which was not named in …

Columbia administrators failed crisis management 101 A university president has to wear many hats, just like a CEO. There are every day administrators, handing out the joy of donors, and, importantly, keeping internal fires from becoming public, violent fires. The latter is a public relations lesson, for which Columbia’s president may need a refresher. See here: To understand why so …

The company that rebuilt the Genoa bridge offered to do the same for Baltimore The Italian company that helped rebuild a bridge that collapsed in Genoa in 2018 said it is ready to do the same in Baltimore. The WeBuild Group said in a press release today that it has submitted preliminary designs and plans to US officials for the …

Rue21, a mall staple, filed for bankruptcy and will close all of its stores Rue21, a mall staple for teen clothing, will go out of business and close all 540 of its stores in the coming weeks. The Pittsburgh-based company filed for bankruptcy Thursday for the third time in its existence, marking the end of nearly 50 years in business …

What’s at stake in Google’s antitrust case? Billions of dollars (and how we use the internet) Whenever you type a search into Apple’s Safari browser — say, on an iPhone — it’s likely Google that returns the results. You can tell Safari to choose another search engine, but in practice most people tend to default to Google. You probably know …