June, 2021

• 23 June

  McKesson exploring sale of European, UK businesses

  Bloomberg American pharmaceutical distributor McKesson Corp. is exploring a sale of its European business, according to people familiar with the matter, in a move that would reverse its $8.3 billion purchase of Germany’s Celesio AG in 2014. Phoenix Group, Germany’s largest pharmaceutical wholesaler, which is owned by the billionaire Merckle family, is in talks to acquire the continental European business. ...

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• 23 June

  Half of London firms plan for home working 5 days a week

  

  Bloomberg Almost half of London companies whose staff can work from home expect them to do so up to five days a week after the pandemic finishes, and smaller businesses are more likely than larger ones to move ahead with remote working. That’s according to a poll of 520 business leaders by the London Chamber of Commerce and Industry, which ...

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• 23 June

  Glaxo plans spinoff for consumer unit

  Bloomberg GlaxoSmithKline Plc said it will carve out its consumer unit via a spinoff and cut its dividend by about 30% as Chief Executive Officer Emma Walmsley seeks to revive the pharma giant’s lagging drug business. The UK company will list the unit in mid-2022 on the London Stock Exchange, Glaxo said in a statement Wednesday, before a key investor ...

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• 23 June

  Euro area economic activity jumps to 15-year high

  

  Bloomberg The euro area’s private-sector economy is growing at its fastest pace in 15 years as coronavirus restrictions are loosened across the region. Surveys of purchasing managers by IHS Markit showed businesses struggling to keep up with demand in June as slowing infection rates allowed services including restaurants to reopen after months of strict lockdowns. Confidence in the economic outlook ...

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• 23 June

  Stocks mixed, futures steady as Fed’s policy woe eases

  

  Bloomberg Stocks were mixed and US equity futures were steady on Wednesday as investors assessed prospects for an economic recovery, while concern eased that faster inflation would spur policy tightening. Treasuries fall. Contracts on all three US equity benchmarks were little changed, after two days of gains for the S&P 500 Index. European equities edged lower as a drop in ...

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• 23 June

  MicroStrategy leads crypto stock slump as Bitcoin ricochets

  

  Bloomberg MicroStrategy Inc sinks, leading a slump in cryptocurrency-exposed stocks, as Bitcoin tumbled below the $30,000 key level for the first time in five months. The enterprise software company fell as much as 12%, its steepest intraday decline since May 19, before closing down 4.5%. Shares of other crypto-linked firms also stemmed their losses as Bitcoin recovered after earlier wiping ...

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• 23 June

  UAE leads on global climate action through green economy plans

  

  DUBAI / WAM The UAE attaches great importance to protecting the environment in its development policy, an approach it has adopted since 2012 through the ‘UAE Green Growth Strategy’, to transform its economy into a green economy by utilising modern technologies, knowledge, and innovation. The green and digital economy will become the starting point for recovery after the Covid-19 pandemic, ...

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• 23 June

  Mubadala’s Globalfoundries to build $4b plant in Singapore

  

  ABU DHABI / WAM Globalfoundries (GF), the global leader in feature-rich semiconductor manufacturing, on Tuesday announced it is expanding its global manufacturing footprint with the construction of a new fab on its Singapore campus. In partnership with the Singapore Economic Development Board and with co-investments from committed customers, GF’s more than $4B (approximately AED 15bn) investment will play an integral ...

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• 23 June

  Adnec launches new firm to promote Abu Dhabi

  

  Abu Dhabi / WAM Abu Dhabi National Exhibitions Company (Adnec) has launched “Tourism 365” to create experiential travel opportunities for tourists coming to Abu Dhabi, and enhance the emirate’s regional and global positioning in the wider tourism sector. The launch of the company is in line with Adnec’s new broader role to support the growth of Abu Dhabi as a ...

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• 23 June

  UAE welcomes all countries to Expo 2020 Dubai: Nahyan

  ABU DHABI / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence and Commissioner-General of Expo 2020 Dubai, received on Tuesday at his palace Ferdinand Nagy, Commissioner-General of Romania’s Pavilion at Expo 2020 Dubai, who was accompanied by Nicoleta Teodorovici, Romania’s Consul-General in Dubai. The sides discussed global developments related to Covid-19, and the efforts of their ...

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