in early trading the companys stock rose 38 above the reference price of 1850 euros set monday evening by the euronext exchange in amsterdam at the current price the worlds largest music company which is being spun off from french media conglomerate vivendi se has a valuation of more than eur45 billion equivalent to 5275 billion shell to sell permian assets to conocophillips for 95 billion royal dutch shell plc has agreed to sell all of its assets in the permian basin the most active us oil field to conocophillips for around 95 billion in cash the deal disclosed by both companies on monday comes as shell is attempting to cut its carbon emissions and invest more in renewable energy the sale is one of the largest recent transactions in the shale patch as large oil companies come under increasing pressure to diversify outside of fossil fuels when archegos capital management blew up it saddled credit suisse group ag with 55 billion in losses one reason investors and regulators were blindsided a gap in the regulatory oversight of big international banks that is the conclusion of financial risk consultants who have sifted through the wreckage stagecoach is in merger talks with national express group uk transportation group stagecoach group plc said tuesday that it is in talks for an allshare takeover by peer national express group plc that will give its shareholders about 25 of the combined group if the deal proceeds under any takeover stagecoach shareholders will get 036 new national express ordinary shares for each stagecoach ordinary share held kingfisher 1h adjusted pretax profit rose came in ahead of market views kingfisher plc on tuesday reported an expectationsbeating jump in adjusted pretax profit for the first half of fiscal 2022 boosted by strong demand for home improvement and said its outlook for the full year has improved the homeimprovement retailer posted a pretax profit of 677 million pounds 92465 million for the six months ended july 31 compared with gbp398 million for the same period a year earlier adjusted pretax profit came in at gbp669 million ahead of the companycompiled market estimate of gbp657 million compass group says 4q underlying revenue to be 86 of fy 2019s compass group plc said tuesday that it expects fourthquarter underlying revenue on a constant currency basis to improve to 86 of 2019 revenue and for it to be slightly ahead of the previous guidance range of 80 to 85 the uk catering contractor said although it expects most of its sectors to continue performing well it remained cautious about its business  industry segment given the continuing uncertainty surrounding the pace of office reopenings in its major markets astrazeneca plc said tuesday that it will invest 360 million in a manufacturing facility in ireland the pharmaceutical company said it is planning to build an active pharmaceutical ingredientmanufacturing facility for small molecules near dublin to ensure that its supply network is fit for future growth londonthe uk government is considering measures to soften the fallout from a sharp increase in energy prices that has put power suppliers to consumers out of business and stoked problems for a range of industries from steel to brewing and fertilizers naturalgas prices across europe have surged as economies bounce back from the pandemic at a time when stores of the fuel are low and asian demand is strong new yorkthe coming climate summit in glasgow scotland runs a high risk of failure unless world leaders take stronger measures to stem greenhousegas emissions united nations secretarygeneral antónio guterres said monday mr guterres made his comments to reporters following a twohour closed session with uk prime minister boris johnson us climate envoy john kerry and other leaders on the sidelines of the un general assembly meeting pfizer biontech say covid19 vaccine is safe for children aged 5 to 11 pfizer inc and partner biontech se said their covid19 vaccine was found to be safe in children ages 5 to 11 years in a latestage study and generated a strong immune response in them bringing the prospect of broader vaccination coverage closer pfizer said it would share the results with regulators in the us and other countries and seek emergency use authorization in the us as early as the end of the month flying taxis best ride is to the helicopter market cabdrivers dont need to worry about being replaced by flying cars helicopter makers might need to a little bit vertical aerospace a british startup devoted to the development of electric verticaltakeoffandlanding vehicles or evtol has just received a preorder for 25 aircraft plus an option for 25 more from bristow group a usowned operator of civil helicopters the airtaxi company told the wall street journal powells taper tightrope could be complicated by fed dots federal reserve chairman jerome powell faces the risk of another dot dilemma this week mr powell has stressed in public remarks that the feds decision about when to slow its bond buying shouldnt fuel inferences about officials intentions to lift rates us stocks are facing their most uncertain outlook since the covid19 pandemic sent the market tumbling last year but many investors say there is no better place to be right now major us stock indexes sank monday with the dow jones industrial average losing more than 600 points or 18 as concerns grew that a default by realestate developer china evergrande group could spur a widespread retreat from riskier assets percolating worries about a slowdown in economic growth ongoing supplychain issues and rising deaths tied to the delta variant of the coronavirus added to the volatility the potential default of realestate developer china evergrande group is taking a toll on funds in europe and the us that chased high yields in the chinese corporate bond market concerns that evergrande might not pay its bonds this month triggered selling of other companies in the countrys property sector weighing down funds managed by ashmore group blackrock inc and pacific investment management co among others finance executives in the retail industry continue to face a multitude of challenges as they plan for the fall and the holiday season despite being generally optimistic on their companies earnings outlook retailers are grappling with ongoing supplychain disruptions that are keeping inventory low and often causing delays forcing companies to pay premiums to accelerate shipments deliveries from vietnam and other southeast asian countries have slowed as local governments limit factories production capacity due to the delta variant potentially resulting in delays and shortages of certain products companies say they are experiencing a level of uncertainty not seen since the onset of the pandemic putting their financial plans in doubt why container ships cant sail around the california ports bottleneck there appears to be no sailing around the breathtaking backup of container ships off the jammed ports of los angeles and long beach newlyarriving vessels are adding to a recordbreaking flotilla waiting to unload cargo that on sunday reached 73 ships according to the marine exchange of southern california nearly double the number a month ago and expanding a fleet that has become a stark sign of the disruptions and delays roiling global supply chains washingtondemocratic leaders said monday they would attach a suspension of the debt limit through december 2022 to a shortterm spending bill setting up a clash with republicans over preventing both a partial government shutdown and a potential default on us debt the house is expected to vote on the combined measure this week but gop opposition in the senate cast uncertainty over how and when lawmakers will act to prevent the federal government from running out of cash many republicans said monday they wouldnt supply any votes for an effort to raise the governments borrowing limit in protest to democrats plans to move trillions of dollars in new spending through congress bitcoin fell sharply on monday as a wave of selling triggered by tumult in chinas indebted property sector hit the crypto markets the worlds largest cryptocurrency was trading at about 43489 at 5 pm et down 86 from friday according to coindesk biden to stress importance of alliances in un speech washingtonpresident biden will outline a us foreignpolicy vision rooted in diplomacy and global alliances during his first address to the united nations as commanderinchief calling for a shift away from armed conflict after two decades of war at a moment when some us alliances are facing strain mr biden is expected to make the case that the biggest issues facing the worldfrom the coronavirus pandemic to climate changecan only be solved with cooperation among countries with varying national interests according to us officials hell encourage competition among rising powers but make clear that he doesnt want another cold war the officials said