Eiffel Tower summit closes, 1,350 schools shut in France heat wave
France is facing a severe heat wave forcing nearly 1,350 schools to shut fully or partially, nearly double from the previous day....
Walgreens Boots Alliance is going private after Sycamore Partners sealed a $10 billion deal, ending nearly a century on public markets. Struggling with competition and changing consumer habits, Walgreens aims to reinvent itself away from the pressures of being publicly traded.
"Walgreens closes chapter on public markets as Sycamore partners seals $10 billion deal"
Walgreens Boots Alliance (WBA) is set to be taken private by private equity firm Sycamore Partners in a monumental $10 billion deal, marking the end of its nearly century-long presence in the public markets. The pharmacy giant, which was once a proud member of the Dow Jones Industrial Average, has struggled in recent years, seeing its stock value decline amid rising competition and changing consumer habits.
The acquisition follows a series of challenges, including weak retail sales, an overhaul of its U.K.-based Boots business, and cost-cutting measures aimed at reviving the company’s fortunes. Walgreens had previously explored private ownership and held talks with several large private equity firms.
Founded in 1901, Walgreens became a household name, with over 9,000 stores across the U.S. By 2018, the company reached its peak, joining the Dow Jones, but recent years have been marked by struggles, including a significant drop in profits and an ongoing shift in its business strategy.
Now, under the leadership of Sycamore Partners, Walgreens aims to pivot and reinvent itself, stepping away from the pressures of the public markets.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
The Asian Infrastructure Investment Bank (AIIB) and the Arab Fund have signed a memorandum of understanding to formalize a strategic partnership focused on advancing sustainable infrastructure in shared priority regions.
Tesla’s new car registrations plunged sharply in June, dropping 64.4% in Sweden and 61.6% in Denmark compared to last year, highlighting growing challenges for the U.S. electric vehicle maker in these Nordic markets.
More than $2.5 billion in new deals and commitments between the United States and African partners were announced at the 17th summit, underscoring the U.S. commitment to prioritizing trade over aid by engaging Africans as equal partners in investment-driven growth, the State Department announced.
Gold prices edged higher on Monday after slipping to their lowest level in more than a month, supported by a weakening U.S. dollar and easing geopolitical tensions that have tempered safe-haven demand.
The French Riviera town of Cannes will restrict large cruise ships from docking starting from January 2026, as part of new efforts to manage over tourism and protect local infrastructure.
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