AGP Executive Report
Last update: 11 hours agoBanking: Australia’s ASIC is suing Commonwealth Bank, alleging its CommBiz platform overcharged about 42,000 business customers by A$8.5 million in undisclosed fees. CBA says it will contest parts of the case. Inflation: Japan’s wholesale prices rose 7.1% in October, strengthening expectations of a December rate hike. Hotter-than-expected U.S. inflation has also revived bets on higher rates and weighed on stocks. Corporate Deals: Kraft Heinz agreed to sell its North American coffee business, including Maxwell House and Gevalia, to One Rock Capital for $650 million while retaining a 30% stake. EasyJet shareholders approved Apollo’s £5.7 billion takeover, expected to close by March. Investment: South Korea’s president said Samsung’s new chip-packaging plant will be followed by about $30 billion in advanced-equipment investment.
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