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US oil giant Chevron to buy rival Hess for $53 bn
US oil giant Chevron to buy rival Hess for $53 bn
Economy
by  AFP

US energy giant Chevron will buy its rival Hess for $53 billion in an all-stock deal, the companies announced in a joint statement on Monday. Chevron's deal values Hess's equity at $53 billion, while the total enterprise value of the transaction, including debt, is $60 billion, according to the statement.

Kenyan shilling hits record low of 150 to the dollar
Kenyan shilling hits record low of 150 to the dollar
Economy
by  AFP

The Kenyan shilling sank to a new all-time low of 150 to the dollar on Monday, adding to the woes of people already battered by high inflation and a raft of new taxes. According to Central Bank of Kenya data, the dollar was selling at just over 150 shillings, although some commercial banks and foreign exchange bureaux have been trading it at that level or higher in recent weeks.