Pernod Ricard Upgrades Profit Guidance

Pernod Ricard has raised its guidance for organic growth in profit from recurring operations for fiscal 2021 to around 16%, from 10% previously, despite sales still being affected by some restrictions.

 
South Korea's Answer to Robinhood and Venmo Lands $7 Billion Valuation

A South Korean company whose app lets users transfer money, take out loans, trade stocks and check their credit scores has raised funds at a valuation of more than $7 billion.

 
Zohar Funds Seek Answers on Defunct Company's $16 Million Cash Pile

The bankrupt Zohar investment funds are again at odds with their creator, Lynn Tilton, over another of the companies to which they lent money, this time clashing over the proceeds of the 2016 wind-down of former textile manufacturer Galey & Lord.

 
FDA Approved Alzheimer's Drug Despite Some Staff Concerns

Statisticians at the Food and Drug Administration said there wasn't enough evidence to approve the drug from Biogen, and the agency's decision to approve the drug has sparked criticism.

 
Quanergy to Go Public Through SPAC Deal

Quanergy Systems Inc., a provider of lidar sensors and 3-D perception software, is going public through a combination with a special-purpose acquisition company, a deal that would value the combined business at $1.4 billion, the companies said.

 
Amazon's Planned Purchase of MGM Faces FTC Scrutiny

The antitrust review of the acquisition comes as Lina Khan, a frequent critic of the online giant, takes the helm at the commission.

 
McDonald's Loyalty Program Goes National

Customers will receive points on qualifying purchases that can be traded for items under the program, which is set to launch nationally on July 8.

 
Philip Morris International to Move Headquarters to Connecticut

The tobacco company plans to move 200 jobs to a not-yet-named location in the southwestern part of the state from New York City.

 
Blackstone Bets $6 Billion on Buying and Renting Homes

The investment firm's deal for a company that buys and rents single-family homes is the latest sign Wall Street believes the U.S. housing market is going to stay hot.

 
Google Faces EU Antitrust Probe of Alleged Ad-Tech Abuses

The European Union opened a formal antitrust investigation into allegations that Google abuses its leading role in the advertising-technology sector, the most wide-ranging case yet to look at that pillar of the tech giant's business.

(END) Dow Jones Newswires

June 23, 2021 03:15 ET (07:15 GMT)

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