BENGALURU - Singapore's Puma Energy, the retail and midstream arm of global commodities trader Trafigura, said on Thursday it would sell its Australian commercial and retail fuels business to Chevron Australia for A$425 million .
Puma Energy is 49 per cent-owned by Geneva-based Trafigura, which is under pressure to rebalance its books after a decade-long buying spree. Trafigura last week reported its lowest annual net profit in nearly a decade after a string of losses in its physical asset portfolio. Puma Energy was among Trafigura's loss-making businesses, with a net loss of US$500 million for the year to Sept. 30, and was in the process of being overhauled.
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Uber in talks to sell its food delivery business in IndiaSAN FRANCISCO (NYTIMES) - Uber is in advanced discussions to sell its food delivery business in India, according to two people with knowledge of the plans, as the company moves to stem its losses.. Read more at straitstimes.com.
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