High-Stakes Shifts: Key Movements in Global Business
The Financial Times reports major developments in global business. Peabody Energy may back out from a deal with Anglo American. Eutelsat appoints a new CEO amid strategic shifts. Credit Suisse faces hefty fines for aiding wealthy Americans in tax evasion. Santander sells Polish assets to refocus its strategy.
In global business news, Peabody Energy is considering terminating its acquisition deal with Anglo American if issues with the Moranbah North mine are unresolved. The coal producer underscores the high stakes involved in international transactions.
Eutelsat, a key player in European defense communications, has unexpectedly appointed Jean-Francois Fallacher as its new CEO. The shift occurs as the company seeks strategic funding and expansion opportunities, notably in the competitive satellite market against Starlink.
Credit Suisse's legal woes continue as it agrees to pay $511 million to settle charges of assisting wealthy Americans in a notorious tax evasion scheme. Meanwhile, Santander offloads €7 billion worth of assets in Poland to streamline its focus on core markets.
(With inputs from agencies.)
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