Why BP is looking at Devon Energy’s Eagle Ford assets while trying to cut debt
BP p.l.c. is reportedly evaluating Devon Energy Corporation’s South Texas shale operations, potentially putting a multi-billion-dollar acquisition alongside an aggressive debt-reduction and divestment programme. The strategic logic is unusually clear because the assets could move BPX Energy close to its 2030 production target, but valuation and financing discipline may determine whether that logic translates into a transaction.
Starbucks shuts 250 more stores as Brian Niccol deepens North America reset
Starbucks is closing approximately 250 North American coffeehouses and expects about $300 million of restructuring charges, extending Brian Niccol’s turnaround even as comparable sales and customer traffic recover.
Why Diageo is changing CFO just as its $1bn savings plan accelerates
Diageo has hired WPP finance chief Joanne Wilson to replace Nik Jhangiani in 2027, adding another senior leadership change as CEO Dave Lewis pushes through a $1.2 billion restructuring after the drinks group reduced its workforce by nearly 2,000 positions in fiscal 2026.
Sazerac launches €5.55-a-share Berentzen takeover after German drinks group cuts outlook
Sazerac Company has formally launched a takeover offer for Berentzen-Gruppe at €5.55 per share, targeting the German owner of Berentzen, Puschkin and Mio Mio only months after deteriorating consumer demand forced the beverage company to slash its 2026 earnings forecast.
Why Brunswick chose Aine Denari as David Foulkes prepares to retire
Brunswick Corporation has appointed Navico Group President and Chief Technology Officer Aine Denari as its next CEO, handing her a roughly 14,500-person marine business that is increasing earnings guidance while betting heavily on electronics, autonomy and integrated boating technology.
Curtiss-Wright names Kevin Rayment CEO as $4.5bn backlog sets up next growth phase
Curtiss-Wright has named Chief Operating Officer Kevin Rayment as its next CEO, handing him a 9,100-person engineering group with record backlog, rising margins and growing exposure to defense, aerospace and nuclear markets.
Why Pick n Pay chose Spencer Sonn as labour and supermarket reset continues
Pick n Pay has named former Woolworths Food executive Spencer Sonn as CEO-designate, setting up a long handover from Sean Summers as the retailer works to restore profitability in its Pick n Pay supermarket operations while majority-owned Boxer continues to deliver stronger growth.
Evonik’s biggest overhaul deepens with 3,200 job cuts and two major divestitures
Evonik Industries is preparing the second phase of its largest corporate restructuring, with 3,200 additional jobs already scheduled to disappear through 2029 and businesses employing roughly 4,300 people moving toward divestiture as the German chemicals group narrows its portfolio.
Why Société Générale is cutting costs again after record €3.5bn first-half profit
Société Générale is preparing further workforce reductions through natural attrition and greater use of artificial intelligence as CEO Slawomir Krupa targets a cost base below €16.3 billion, a sub-55% cost-to-income ratio and substantially higher profitability by 2029.
Ingenia rejects Warburg Pincus A$2.06bn takeover as Peet deal becomes battleground
Ingenia Communities Group has rejected Warburg Pincus’s improved A$5.05-per-security cash proposal, keeping its planned acquisition of Peet at the centre of an increasingly complex Australian property takeover contest.