Bloomberg Shoprite Holdings Ltd reappointed Christo Wiese as chairman even after ordinary shareholders resoundingly voted against his re-election as a non-executive director. Holders of more than 61% of the shares opposed his reappointment, Africa’s biggest grocer said after its annual general meeting in Cape Town. The former billionaire only secured another term thanks to his own superior voting rights. “We …

Bloomberg Under Armour Inc shares plunged after the company disclosed that federal officials have been probing its accounting practices for more than two years, bringing a fresh headache to investors just as the sports brand prepares for a CEO transition. The athleticwear company also lowered its full-year revenue forecast, but it raised some other projections after posting solid third-quarter results. …

ABU DHABI / WAM The GCC is rapidly adopting renewable energy generation to meet the power demand, lower carbon emissions and reduce costs, with the International Renewable Energy Agency (Irena), predicting that if the GCC realises its renewable energy plans, the region is set to create cumulative cost savings of $76 billion by 2030. GCC’s installed power capacity grew four-fold …