June, 2019

• 25 June

  Beijing considers blacklisting FedEx after ‘delivery errors’

  

  Bloomberg China is considering adding FedEx Corp to a list of so-called unreliable entities, said people familiar with the matter, a move that would escalate tensions with the US. Authorities in China have almost completed the preparations that would be needed to blacklist FedEx, the people said, declining to be named because the information hasn’t been made public. A final ...

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• 25 June

  Dairy war threatens to engulf 2022 Beijing Winter Olympics sponsorships

  

  Bloomberg China’s biggest dairy company has warned that it may pull out of sponsoring the 2022 Winter Olympics in Beijing because of its local rival. In a rare open letter posted on its official WeChat account, Inner Mongolia Yili Industrial Group Co lashed out at China Mengniu Dairy Co for allegedly infringing its status as the sole sponsor of dairy ...

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• 25 June

  China ‘wealth’ changing the way its people die

  

  Bloomberg Chronic illnesses like stroke, heart problems and lung cancer became the top causes of premature death in China over the last three decades, according to a new study showing health trends that increasingly resemble the US and other advanced nations. The study, published this week in the Lancet, showed those conditions replacing lung infections and neonatal disorders as the ...

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• 25 June

  Chinese startups ditch Oracle, IBM for home-made tech

  

  Bloomberg For years, companies like Oracle and International Business Machines (IBM) invested heavily to build new markets in China for their industry-leading databases. Now, boosted in part by escalating US tensions, one Chinese upstart is stepping in, winning over tech giants, startups and financial institutions to its enterprise software. Beijing-based PingCAP already counts more than 300 Chinese customers. Many, including ...

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• 25 June

  UK trade secretary denies Brexit cloud will hit tech investment

  

  Bloomberg UK Trade Secretary Liam Fox dismissed fears that foreign companies will slow down their investment in domestic technology businesses, despite the ongoing uncertainty around the country’s exit from Europe. “If you take the legal system, skills of the workforce, the regulatory and tax systems, linguistic skills, access to tech, and IP law, not one of those is affected to ...

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• 25 June

  Stanford offers $4.7b for California housing, transit

  Bloomberg Stanford University, hoping to appease officials opposed to its planned expansion, is offering to spend $4.7 billion to relieve pressures on housing and transit that are plaguing residents of California’s Bay Area. The offer would be part of an agreement with Santa Clara County to support the school’s application for a long-term land use permit, according to a statement ...

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• 25 June

  AbbVie to acquire Botox maker Allergan for $63b

  

  Bloomberg AbbVie Inc. agreed to buy rival drugmaker Allergan Plc for $63 billion in a deal combining the makers of arthritis drug Humira and wrinkle treatment Botox in a bid to kindle growth. The takeover, at a value of $188.24 a share, is a 45 percent premium to Allergan’s closing price. Allergan rose 33 percent to $172 in pre-market trading ...

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• 25 June

  Capgemini to buy Altran for $4.1b in technology expansion push

  

  Bloomberg Capgemini SE said it will acquire Altran Technologies SA in a 3.6 billion-euro ($4.1 billion) deal in order to win more tech clients and keep up with rivals. Paris-based Capgemini is looking to maintain its position as a major IT consultancy in a consolidating industry, as competitors such as Accenture have been building out their sales from digital projects. ...

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• 25 June

  Apple to expand footprint in Seattle with office lease

  Bloomberg Apple Inc. is significantly increasing its footprint in Seattle as it expands on a previously announced plan to boost hiring, bringing an additional 2,000 jobs to the area in the next five years. The iPhone maker signed a lease for office space at 333 Dexter, a 660,000-square-foot (61,300-square-meter) development in the South Lake Union neighborhood being built by Kilroy ...

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• 25 June

  Glencore cuts out intermediaries as scrutiny grows

  

  Bloomberg Glencore Plc is cutting out many of its intermediaries — the agents and dealmakers once essential to cracking the toughest markets — amid growing scrutiny of its operations around the world. Under pressure from its compliance division, Glencore is dismantling much of its glo-bal network of trading agents, according to people familiar with the situation. To continue operating, the ...

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