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Italy eyes better relations with Stellantis after automaker saves supplier jobs

Italy's Industry Minister Adolfo Urso announced a deal on Tuesday to avert 249 layoffs at suppliers to Stellantis, saying he hoped the breakthrough would help repair strained relations with the carmaker. Stellantis and Italy's government have been at loggerheads for months, with politicians in Rome accusing Fiat's parent company and its CEO Carlos Tavares of neglecting historic Italian manufacturing sites and moving production abroad. But a top Stellantis manager said on Monday, days after the sudden departure of Tavares, that he would present a clear plan to revive output in Italy at a meeting on the Italian automotive industry Urso is set to host on Dec. 17 in Rome.

Reuters 22 minutes ago

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McWin Capital in Talks to Acquire UK Bakery Chain Gail’s

(Bloomberg) -- McWin Capital Partners, the food investment firm helmed by dealmakers Henry McGovern and Steven Winegar, is in talks to buy UK bakery chain Gail’s, according to people familiar with the matter.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersCloud Computing Tax Threatens Chicago’s Silicon Valley DreamA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectSan Francisco, Paris Named Best Cities for Urban TransportationDC Business Le

Apollo Is Boosting $70 Billion ‘Hybrid’ Credit, Equity Business

(Bloomberg) -- Apollo Global Management Inc. is expanding two hybrid strategies, which supply financing that sits between credit and private equity, as it ramps up alternatives to buyouts.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersCloud Computing Tax Threatens Chicago’s Silicon Valley DreamA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectSan Francisco, Paris Named Best Cities for Urban TransportationDC Business Leaders Welcome Return

Stocks Waver as Traders Map Out Game Plans for CPI: Markets Wrap

(Bloomberg) -- Stocks, bonds and the dollar saw small moves, with traders unwilling to make any significant bets as they await key inflation data for clues on whether the Federal Reserve will cut or hold rates next week.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersCloud Computing Tax Threatens Chicago’s Silicon Valley DreamA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectSan Francisco, Paris Named Best Cities for Urban TransportationDC

Flat Footed Asks Grifols to Reform Board to Protect Shareholders

(Bloomberg) -- Flat Footed, one of Grifols’ non-family shareholders, joined hedge fund Mason Capital Management LLC in calling for an overhaul of the Spanish drugmaker’s board. Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersCloud Computing Tax Threatens Chicago’s Silicon Valley DreamA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectSan Francisco, Paris Named Best Cities for Urban TransportationDC Business Leaders Welcome Return-to-Office

Adani Pulls Out of $553 Million US Loan Deal for Colombo Port

(Bloomberg) -- An entity majority-owned by embattled billionaire Gautam Adani, who was indicted in US courts last month, has pulled back from a loan pact valued at $553 million from the US International Development Finance Corporation, according to a company filing.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersCloud Computing Tax Threatens Chicago’s Silicon Valley DreamA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectSan Francisco, Pari

Walgreens Jumps on Report That It’s in Talks to Go Private

(Bloomberg) -- Walgreens Boots Alliance Inc. shares surged after the Wall Street Journal reported that the pharmacy company is in talks to sell itself to Sycamore Partners, a private equity firm.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersCloud Computing Tax Threatens Chicago’s Silicon Valley DreamA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectSan Francisco, Paris Named Best Cities for Urban TransportationDC Business Leaders Welcome

US Sees Small Global Oil Deficit in 2025, in Outlook Reversal

(Bloomberg) -- The US reversed its forecast for a crude glut next year and is now calling for a small oil-market deficit.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersCloud Computing Tax Threatens Chicago’s Silicon Valley DreamA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectSan Francisco, Paris Named Best Cities for Urban TransportationDC Business Leaders Welcome Return-to-Office Policy Under TrumpGlobal oil consumption should exceed o

Walgreens in talks to sell itself to PE firm Sycamore, WSJ reports

The pharmacy chain and Sycamore have been discussing a deal that could be completed early next year, assuming talks do not fall apart, the report added. A Walgreens spokesperson said they "don't comment on rumors or speculation about our business". Sycamore did not immediately respond to a Reuters request for comment.

Adani Ports withdraws DFC funding request for Colombo port project

DFC last year said it would provide $553 million in financing for the port terminal project, which is partly owned by the Adani Group. The company, however, said the Colombo West International Terminal project is progressing well and is on track for commissioning by early 2025.