January, 2017

• 9 January

  Samsung top executives to be quizzed by Korean prosecutors

  

    Bloomberg Samsung executives have been summoned by South Korean special prosecutors amid a widening influence-peddling scandal that brought about South Korean President Park Geun-hye’s impeachment. Samsung Corporate Strategy Office Vice Chairman Choi Gee-sung and President Chang Choong-ki were asked to come in for questioning, Hong Jung-seok, a spokesperson for the special prosecutors office, told Bloomberg News via text message …

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• 9 January

  Hong Kong seaside mansion purchased for $86mn

    Bloomberg A local buyer has purchased a mansion overlooking Hong Kong’s exclusive Repulse Bay using a method allowing him to avoid property taxes. The house may have fetched about HK$670 million ($86 million), based on the average square-foot valuation of similar properties in the Headland Road neighborhood, according to the agent that brokered the deal. Raymond Ho, deputy senior …

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• 9 January

  Bird flu sends egg prices soaring in S Korea

  

    Bloomberg In a packed stall in one of Seoul’s traditional eateries, patrons feast on egg-rich Korean pancakes washed down with beer. Despite the booming business, the owner of the restaurant, Kim Kang-ock, looks on in dismay. “Soaring egg prices are driving me crazy as it’s about to kill my business,” the middle-aged South Korean street-food vendor says as she …

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• 9 January

  Air Products bids for China’s largest industrial gas maker

  

    Bloomberg Air Products & Chemicals Inc. made an offer to buy China’s biggest producer of industrial gases as it seeks to compete with rivals such as Praxair Inc. in an industry marked by a wave of consolidation. The Allentown, Penn- sylvania-based maker of industrial and atmospheric gases said in a statement on Monday that it expressed preliminary, non-binding interest …

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• 9 January

  Fiat Chrysler to invests $1bn in US amid Trump squeeze

  

    Bloomberg Fiat Chrysler Automobiles NV will invest $1 billion toward making three new Jeep models in the US, plus a Ram heavy-duty pickup now built in Mexico, as President-elect Donald Trump pressures the auto industry to hire workers and produce vehicles above the border. The outlays planned by 2020 include retooling factories in Michigan and Ohio and adding 2,000 …

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• 9 January

  Amazon shipments for independent merchants double

    Bloomberg Amazon.com Inc. said the number of items sold for independent merchants that use its logistics service more than doubled to 2 billion last year, evidence the online retailer’s stepped-up investments in warehouses are paying off with expansion into new areas like fashion and household goods. The world’s biggest e-commerce company has differentiated itself by offering fast, free delivery …

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• 9 January

  Euro area heads for stronger growth as labour market recovers

  

    Bloomberg In the euro area, the course seems to be set for a pick-up in economic momentum. Unemployment in the 19-nation region remained at the lowest level in more than seven years in November, as Germany reported a second consecutive increase in industrial output and French business confidence improved. The data follow a survey of purchasing managers out last …

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• 9 January

  VW gives its hippie-era microbus a revamp

  

    Bloomberg Volkswagen AG laid out a new design for a revived, battery-powered version of its iconic hippie-era Microbus as the carmaker seeks ways to move beyond its 16-month-old diesel emissions-cheating scandal and will overhaul its US lineup in a renewed comeback push. The latest iteration of the van, a concept dubbed the I.D. Buzz, is part of the VW …

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• 9 January

  Meredith interested in merger with Time

  

    Bloomberg Meredith Corp. has contacted Time Inc. to express interest in potential merger, according to people familiar with the matter, rekindling a possible tie-up that died in 2013. Other strategic companies and privately held businesses have also been in touch with Time about a possible deal, one of the people said. No talks have yet been held with interested …

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• 9 January

  Gadgets that faced bumps on ride to CES hype machine

  

    Bloomberg CES debuted gadget hits like the VCR, CD player and Xbox over the years, but the popular consumer electronics conference also showcases a lot of technology that fails to match the hype. Some of the top flops from 50 years of the Las Vegas show include Digital Audio Tape players, Apple’s Newton handheld computer and Atari’s Jaguar gaming …

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