NEW YORK U.S. food company Kraft Heinz Co withdrew its proposal for a $143-billion merger with larger rival Unilever Plc , the companies said on Sunday, raising questions about whether Kraft could turn its focus to another target.
Recent Business News
SEOUL Handcuffed and tied with white rope, the scion of one of the world's biggest conglomerates, Samsung Group, was taken on Saturday for questioning by South Korean authorities after spending a night in a small detention cell. | Video
DUBAI The private banking arm of Singapore’s second-biggest lender OCBC is targeting annual growth of assets of more than 20 percent from its new office in Dubai, which it aims to use to attract wealthy clients from the Middle East and Africa, its chief executive told Reuters on Sunday.
MOSCOW Ford has become the first major foreign carmaker in Russia to see sales grow after three bad years, potentially vindicating its decision to double down on a notoriously volatile market when rivals decided to cut and run.
JAKARTA Chappy Hakim, chief executive of miner Freeport-McMoran Inc's Indonesian unit, has resigned, the company said on Saturday, after the parent firm declared force majeure on copper concentrate shipments from its Grasberg mine in Papua.
DUBAI Iran has found shale oil reserves of 2 billion barrels of light crude in its western Lorestan province, a senior official at the state-run National Iranian Oil Company (NIOC) was quoted as saying on Saturday.