Representative image of a luxury island. – X/@SPA/file RIYADH: Saudi Arabia’s planned futuristic megacity known as NEOM on Sunday announced the opening of its “first physical offering”: a luxury island in the Red Sea featuring restaurants, hotels and yacht piers. The opening of the island, known as Sandalah, comes ahead of a major investor forum … Read more
After four years in command at Nike, CEO John Donahoe is handing over the helm to Elliott Hill, a 60-year-old executive who has spent more than half his life at the footwear empire. Hill joined Nike in 1988 as an intern and was heading commercial and marketing operations for Nike and the Jordan brand when … Read more
Canadian convenience store giant Alimentation Couche-Tard (ACT) has set its sights on Seven & i wHoldings, the Tokyo-based parent company of 7-Eleven. If the deal goes through—ACT submitted an offer to buy all outstanding shares of Seven & i last month—it will mark a significant step into Japan’s retail market by a foreign firm, but … Read more
The rattled corporation faces a rocky road through a wide-ranging restructuring, but some analysts see a more competitive company emerging. Century-old global mining-and-metals conglomerate Anglo American plc has been on a roller coaster since the end of May, when it dramatically cut off merger talks with rival BHP and instead announced a sweeping restructure of … Read more