Bloomberg Apollo Global Management Inc said on Monday it’s considering an offer for Wm Morrison Supermarkets Plc, heating up a takeover battle for the UK grocer. Morrison just agreed over the weekend to a 6.3 billion-pound ($8.7 billion) takeover from a consortium led by Fortress Investment Group. That offer trumped private equity firm Clayton Dubilier & Rice LLC’s earlier 5.5 …

Bloomberg An Egyptian e-commerce business linking traditional retailers with suppliers of products such as food and groceries plans to expand in North Africa and the Gulf after an early-stage funding round. Cairo-based MaxAB raised $40 million from RMBV and seven others including the International Finance Corp and Flourish Ventures, according to a statement on Monday. It plans to use the …

Bloomberg The US Department of Transportation is moving to require airlines to refund fees to passengers for checked bags if the luggage is significantly delayed to the destination, according to a person familiar with the measure. The proposal will also require airlines to promptly make refunds for other services air passengers pay for and don’t receive — including advance seat …

Bloomberg Sydney Airport received a A$22.3 billion ($17 billion) takeover offer from a group including IFM Investors in what would be Australia’s largest acquisition and one of the boldest bets on a recovery in global travel since the pandemic started. The offer values Sydney Airport shares at A$8.25 each, the company said in a statement on Monday. While that’s 42% …

Bloomberg New Zealand plans to more than triple a levy it charges travelers crossing the border, running the risk of slowing a fragile recovery in the tourism sector, according to the industry body. The government has in principle agreed to raise the border processing levy for air passengers to NZ$63 ($44) from NZ$20.11 on December 1, Tourism Industry Aotearoa (TIA) …

Bloomberg A Brazilian supermarket chain controlled by L Catterton, the private equity firm backed by French billionaire Bernard Arnault, has chosen banks for a potential initial public offering that could raise as much as 800 million reais ($159 million), people familiar with the matter said. Sao Paulo-based Grupo St Marche is working with Banco Santander Brasil SA, Banco Itau BBA …

Bloomberg Shares of Chinese technology companies slid in Hong Kong as investors stepped back to gauge the impact from Beijing’s move to block ride-hailing giant Didi Chuxing from app stores due to data security issues. Tencent Holdings Ltd, which has a stake in Didi, slumped 3.6% in Hong Kong to erase its year-to-date gain. Meituan, ordered by China’s antitrust watchdog …

Bloomberg As stocks around the world continue to smash one record after another, some of the world’s biggest money managers have a simple message: Get used to it. The likes of BlackRock Inc, State Street Global Markets, UBS Asset Management and JPMorgan Asset Management expect equity markets to keep rising in the second half of the year, with many investors …

Bloomberg British consumers are starting to feel the pinch from a rally in global energy markets, with supplier Igloo saying it will hike prices. The cost of energy for a typical home buying natural gas and electricity will rise 12.1% from August 2, Igloo said on its website. The move follows a surge in the wholesale price of gas and …

Bloomberg High stock price valuations may be giving some investors pause, but it hasn’t stopped US corporations from plowing even more cash into their shares. Morgan Stanley and Wells Fargo Inc are among the nation’s biggest lenders that signalled this week they’re stepping up repurchases and raising dividends after passing Federal Reserve stress tests with flying colours. Banks are joining …