Carrier Global Corporation has entered into an agreement to sell its security business, Global Access Solutions, to Honeywell for $4.95 billion. Honeywell plans to strengthen its building automation capabilities with this acquisition, which includes industry-leading brands such as LenelS2, Supra, and Onity. The purchase price represents approximately 13x 2023 expected EBITDA and the transaction is expected to be immediately accretive to Honeywell's growth, gross margins, and operating margins.
Iraq's oil production in September was below its OPEC+ quota, producing 3.94 million barrels per day, as the country aims to comply with its output targets.
The German trade union Verdi has expressed strong opposition to a potential cross-border merger involving Commerzbank, citing concerns over job losses and economic stability.
Google has requested a California federal judge to delay a court order that mandates opening its Play Store to more competition, citing potential risks to the Android ecosystem.
Chinese electric carmaker BYD plans to increase its sales in Germany within six months, despite facing new EU tariffs on China-made electric vehicles.
Tesla's unveiling of a two-seater robotaxi, dubbed Cybercab, has left investors and experts puzzled due to its unconventional design and lack of details, causing Tesla's stock to tumble.
Bain Capital has made a binding offer to acquire Fuji Soft, outbidding rival KKR by 7% with a proposal of 9,450 yen per share, valuing the company at $4 billion.
China's largest state-owned banks are set to lower existing mortgage rates starting October 25, following a directive from the central bank to stimulate the economy.
A U.S. appeals court has temporarily halted permits for Kinder Morgan's Tennessee pipeline project following environmental groups' concerns about potential ecological harm.
The FDA has agreed to revisit its decision to bar compounded versions of Eli Lilly's weight loss and diabetes drugs, following a lawsuit by the Outsourcing Facilities Association. This move allows continued access to cheaper drug alternatives amid ingredient shortages.