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The main contract for the container shipping index (European route) rose more than 3.00% intraday, currently trading at 1834.7 points.On November 11, Politico reported that U.S. senators rejected an amendment proposed by Rand Paul that aimed to remove a clause he argued would "destroy the booming industrial hemp industry"—a clause included in the agreement to end the government shutdown. The amendment was rejected by a vote of 76 to 24. Only Texas Senator Ted Cruz and Paul himself, along with 22 Democratic senators, supported pushing the amendment forward. The clause severely restricted marijuana products with intoxicating effects that had been legalized since the passage of the 2018 Farm Bill. The Senates rejection of the amendment paves the way for Congress to finally pass an appropriations package, bringing Congress one step closer to ending the government shutdown. In an interview, Paul stated that he proposed the amendment not to "delay the process," but to protect the industrial hemp industry that has flourished in Kentucky since 2018.On Tuesday, November 11, the Hang Seng Index opened 99.03 points higher, or 0.37%, at 26,748.09; the Hang Seng Tech Index opened 46.46 points higher, or 0.79%, at 5,962.02; the H-share Index opened 41.47 points higher, or 0.44%, at 9,484.71; and the Red Chip Index opened 6.91 points higher, or 0.16%, at 4,274.62.Hong Kong stocks opened higher, with the Hang Seng Index up 0.37% and the Hang Seng Tech Index up 0.79%. New consumption, innovative drugs and gold stocks led the gains, with XPeng Motors (09868.HK) surging over 9%.Samsung Electronics shares rose up to 5% in South Korea.

Subway Is Considering A Sale That Could Net More Than $10 Billion - WSJ

Charlie Brooks

Jan 12, 2023 11:19

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The Wall Street Journal reported on Wednesday, citing sources familiar with the matter, that Subway has recruited consultants to investigate a sale that could value the sandwich firm at more than $10 billion.


According to a report, the process, which is in its infancy, is expected to draw possible corporate bidders and private-equity firms, although a sale or other transaction may not occur.


A corporate official said to Reuters, "As a privately held company, we cannot comment on our ownership structure or future business objectives."


Over 37,000 locations in over 100 countries make Subway one of the largest quick-service restaurant businesses in the world. The Milford, Connecticut-based firm, renowned for its foot-long sandwiches and quick-service restaurants, has been in the ownership of its two founding families for more than fifty years.


In 2021, media outlets said that Subway was preparing for a sale, but the restaurant business denied it.

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