Pakistan’s digital payment ecosystem is booming, with mobile app-based transactions hitting 2 billion in Q1 FY26 and accounting for over 80% of all digital payments, as revealed by the State Bank’s First Quarterly Payment Systems Review of FY26 report released on Tuesday. According to the report, retail payment volumes rose to 2.8 billion transactions, marking […]
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UK supermarket Morrisons set for mega takeover
The UK supermarket sector, which has benefitted hugely from a shift to online shopping during the pandemic, is set for a further shakeup with Morrisons heading for a multi-billion-pound takeover. Britain’s fourth biggest supermarket on Saturday said it had accepted a £6.3-billion ($8.7-billion, 7.3-billion-euro) takeover offer from a consortium of investment groups. And on Monday, […]
Major Swedish supermarket chain hit by cyberattack
One of Sweden’s biggest supermarket chains said Saturday it had to temporarily close around 800 stores nationwide after a cyberattack blocked access to its checkouts. “One of our subcontractors was hit by a digital attack, and that’s why our checkouts aren’t working any more,” Coop Sweden, which accounts for around 20 percent of the sector, […]
UK supermarket Morrisons agrees to £6.3 billion takeover
British supermarket giant Morrisons has accepted a takeover offer from a consortium of investment groups following its rejection of a private equity bid last month, the chain announced on Saturday. Under the £6.3 billion ($8.7 billion) deal, the group of investors comprising Softbank-owned Fortress, Canada Pension Plan Investment Board and Koch Real Estate Investments (KREI) […]
Major Swedish supermarket chain hit by cyberattack
One of Sweden’s biggest supermarket chains said Saturday it had to temporarily close around 800 stores nationwide after a cyberattack blocked access to its checkouts. “One of our subcontractors was hit by a digital attack, and that’s why our checkouts aren’t working any more,” Coop Sweden, which accounts for around 20 percent of the sector, […]
UK supermarket Morrisons agrees to £6.3 billion takeover
British supermarket giant Morrisons has accepted a takeover offer from a consortium of investment groups following its rejection of a private equity bid last month, the chain announced on Saturday. Under the £6.3 billion ($8.7 billion) deal, the group of investors comprising Softbank-owned Fortress, Canada Pension Plan Investment Board and Koch Real Estate Investments (KREI) […]
UK supermarket Morrisons shares soar on £5.5bn bid
Shares in British supermarket chain Morrisons surged Monday after it rejected a £5.5-billion ($7.6-billion, 6.4-billion-euro) takeover approach as too low. The company’s share price rocketed almost a third to 231.80 pence in early deals, after it snubbed the unsolicited cash bid from US private equity firm Clayton, Dubilier & Rice (CD&R) over the weekend. Shares […]
Ikea France found guilty in employee spying scandal
A French court ruled Tuesday that Ikea had set up an elaborate system to illegally spy on hundreds of employees and job applicants over several years, using private detectives as well as police sources. The French unit of the Swedish furniture giant was fined one million euros ($1.2 million) while its former chief Jean-Louis Baillot […]