Whirlpool Corp is divesting a 31% stake in its Indian arm, attracting interest from Reliance Retail, Havells India, and buyout funds like EQT and Bain Capital. This move is part of a global restructuring following a $1.5 billion loss, with the aim to raise $550-600 million.
Asian stocks advance as Fed’s rate cut lifts mood
Asian markets followed Wall Street higher after the US Federal Reserve lowered interest rates. Fed Chair Jerome Powell indicated confidence in the US economy’s future.