June, 2019

• 12 June

  Amazon to donate $8m to two nonprofit groups

  

  Bloomberg Amazon.com Inc plans to donate $8 million to two nonprofit groups working on homelessness and affordable housing in Seattle and Arlington County, Virginia. Seattle’s largest employer has long been a target of activists there who contend the company didn’t do its part to help the city moderate a surge in the cost of living amid the tech boom. Last ...

  Read More »
• 12 June

  Litt threatens proxy fight at Taubman

  

  Bloomberg Activist investor Jonathan Litt is threatening a proxy fight next year at Taubman Centers Inc if the US mall owner doesn’t take steps to improve its performance, including exiting Asia or divesting its top-performing properties. Litt said in a letter to shareholders that he planned to nominate directors at the 2020 meeting unless the company makes “meaningful progress.” “Their ...

  Read More »
• 12 June

  Google moves its hardware production away from China

  

  Bloomberg Alphabet Inc’s Google is moving some production of Nest thermostats and server hardware out of China, avoiding punitive US tariffs and an increasingly hostile government in Beijing, according to people familiar with the matter. Google has already shifted much of its production of US-bound motherboards to Taiwan, averting a 25 percent tariff, said the people, asking not to be ...

  Read More »
• 12 June

  American cars lose shine over trade tensions in China

  

  Bloomberg As China’s car market cools, American manufacturers are among those getting hurt the most. The market share of US brands fell to 9.6 percent in the first five months of 2019 from 10.9 percent a year earlier, the state-backed China Association of Automobile Manufacturers said. German and Japanese brands, meanwhile, gained share in the world’s largest car market. The ...

  Read More »
• 12 June

  Hong Kong protests besides US-China trade war add to stock traders’ worries

  

  Bloomberg Hong Kong stock traders have a lot to contend with right now. A trade war between China and the US, a slumping yuan, spiking interbank rates and now street protests that have spilled across the city’s financial district in a repeat of 2014’s Occupy movement. The last two — rates and protests — have combined to snuff out a ...

  Read More »
• 12 June

  Sugar output in India sinks to three-year low

  

  Bloomberg Sugar output in India may drop to a three-year low next season from a record as dry weather shrivels cane plants in some major growing areas of the country that vies with Brazil as the world’s top grower. Production may slide to 28 million to 29 million tons in the year that begins on October 1 from 33 million ...

  Read More »
• 12 June

  India eyes entry to moon landing club with July launch

  

  Bloomberg India will launch a lunar mission on July 15, attempting to become the fourth country to land on the moon and cementing its place among the world’s space faring nations. The Chandrayaan-2 mission aims to deliver a rover to an elevated plane close to the uncharted lunar South Pole on September 6 or 7 and investigate the surface for ...

  Read More »
• 12 June

  UK pledges net zero fossil fuel pollution in first for G-7

  

  Bloomberg Britain is to become the first major economy to adopt laws that require a cut in fossil-fuel emissions to zero by 2050 to fight climate change. Prime Minister Theresa May said legislation to wipe out the UK’s net contribution to rising global temperatures will be put to members of Parliament, endorsing a report from advisers that laid out what ...

  Read More »
• 12 June

  KKR offers $7.7bn to buy out Axel Springer’s minority shareholders

  Bloomberg KKR & Co. is seeking to buy out minority shareholders of Axel Springer SE in a deal that would value the German publisher at about 6.8 billion euros ($7.7 billion). KKR offered to pay 63 euros a share in cash — a 13 percent premium over close and about 40 percent more than the price before Bloomberg reported the ...

  Read More »
• 12 June

  Dassault to acquire Medidata in $5.7b health data push

  

  Bloomberg Dassault Systemes SE, a maker of industrial design software, agreed to buy Medidata Solutions Inc. for $5.7 billion to gain a foothold in the fast-growing market for clinical trial technology. The deal pushes the French company further beyond its design roots into data processing and business analysis. Medidata’s software analyses pharmaceutical and biotech trials for some of the world’s ...

  Read More »