June, 2017

• 21 June

  Toshiba picks Bain-Japan group as preferred chip unit buyers

  

  Bloomberg Toshiba Corp. picked a group led by Bain Capital and Japanese investors as the preferred bidders for its memory chip business, bringing much needed cash into the Japanese company to make up for losses in its nuclear operations. The parties are aiming to reach final agreement by June 28 and close the transaction by March, Toshiba said in a ...

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• 21 June

  Tencent’s startup investment frenzy reaches outer space

  

  Bloomberg Tencent Holdings Ltd. is best known for super-app WeChat and its relentless pace of startup investment. Now the Chinese social media giant is looking beyond Earth-bound opportunities. China’s largest corporation has invested in Moon Express, a startup that aims to put drones on the lunar body; Argentina’s Satellogic, which specializes in satellite imagery; and Planetary Resources, which is looking ...

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• 21 June

  China’s biggest aluminum producer to cut outdated capacity

  

  Bloomberg China Hongqiao Group Ltd., the nation’s biggest aluminum smelter, is curtailing outdated capacity amid a broader crackdown by the government on illegal production. Shares of aluminum makers gained in China. The company, the main aluminum arm of Shandong Weiqiao Pioneering Group Co., declined to give the scale or timing of the reduction in an emailed statement. Two people with ...

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• 21 June

  Vanke’s Wang exits after over ownership tussle

  

  Bloomberg Wang Shi, who built China Vanke Co. into the country’s biggest developer after founding it 33 years ago, stepped down as chairman after an ownership tussle that ended with a state entity becoming its biggest investor. The exit of the 66-year-old Wang comes after metro line builder Shenzhen Metro Group Co. emerged as a white knight last year and ...

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• 21 June

  China counters Trump, says N Korea efforts ‘indispensable’

  

  Bloomberg China hit back at US President Donald Trump on Wednesday, saying its efforts on North Korea have been “indispensable.” China has “played an important and constructive role” in seeking peace on the Korean peninsula, Foreign Ministry spokesman Geng Shuang told reporters in Beijing. China strictly implements United Nations Security Council resolutions and isn’t the crux of the North Korean ...

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• 21 June

  Republican wins US House seat in Georgia after close race

  Bloomberg Republican Karen Handel defeated a well-funded opponent in a special election for a U.S. House seat in Georgia, a setback for Democrats who hoped President Donald Trump’s low approval ratings would help them win congressional races. Handel, 55, won in a suburban Atlanta district held by the GOP since 1979 despite raising far less money than Democrat Jon Ossoff, ...

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• 21 June

  Macron cements cabinet control as troublesome minister quits

  Bloomberg A one-time rival to President Emmanuel Macron was forced out of the French government on Wednesday as the president asserted his authority after a resounding victory in Sunday’s parliamentary elections. Justice Minister Francois Bayrou, 66, who threw his weight behind Macron’s campaign in February after mulling his own bid for the presidency, quit Wednesday morning. European Affairs Minister Marielle ...

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• 21 June

  Saudi king names his son as heir to throne

  

  Bloomberg Saudi Arabia’s Deputy Crown Prince Mohammed Bin Salman was named to replace his cousin as heir to the throne in a shake-up that consolidates the 31-year-old leader’s power in the world’s biggest oil exporter. The king’s decision to elevate his son, who already controlled the defense, oil and economy portfolios, was supported by 31 out of 34 members of ...

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• 21 June

  May faces new political reality with Brexit-heavy program

  Bloomberg Prime Minister Theresa May will make her first attempt to engage with Britain’s new political landscape as she publishes a legislative program heavy on Brexit and likely to be light on anything controversial. Queen Elizabeth II was expected to read out the plans to lawmakers at 11:30 a.m. in London on Wednesday in an occasion stripped of most of ...

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• 21 June

  Germany warns US against ceding lead role to China, Russia

  

  Bloomberg Wolfgang Schaeuble, Germany’s veteran finance minister, urged the US to limit Russian and Chinese influence or risk bringing about “the end of our liberal world order.” The comments by Schaeuble, a member of Chancellor Angela Merkel’s cabinet since she took office in 2005, are one of the strongest expressions of concern among European policy makers that President Donald Trump’s ...

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