June, 2017

• 17 June

  Australia’s economy could be in better shape than GDP suggests

  

  Bloomberg Australia’s best three months of hiring since 2004 has brought the jobs market into line with buoyant business conditions — signaling the economy could be in better shape than recent GDP data showed. At the Reserve Bank of Australia, there’ll be some relief. For months, it’s repeated that forward indicators suggested higher employment and lower unemployment were in the ...

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• 17 June

  Jack Ma explores joining $1.5bn Grab fundraising

  

  Bloomberg Alibaba co-founder Jack Ma may team up with SoftBank Group Corp.’s Masayoshi Son in a $1.5 billion investment in ride-hailing startup Grab, according to people familiar with the matter. The investment would be part of Grab’s previously reported $1.5 billion fundraising, led by SoftBank and aimed at giving the Singaporean startup cash to battle Uber Technologies Inc. in Southeast ...

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• 17 June

  Vanke in talks to join China consortium in GLP bidding

  

  Bloomberg China Vanke Co., a logistics partner of Blackstone Group LP in China, is in talks to join a management-backed consortium bidding for warehouse operator Global Logistic Properties Ltd., people with knowledge of the matter said. The Shenzhen-based homebuilder has discussed becoming one of about six major investors in the Chinese bidding group backed by Hopu Investment Management, Hillhouse Capital ...

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• 17 June

  Warburg Pincus to pay $360mn for Tata stake

  Bloomberg Warburg Pincus agreed to buy a stake in Tata Technologies Ltd. from its parent Tata Motors Ltd., owner of Jaguar Land Rover, and another Tata group company for about $360 million. The New York-based private equity firm will acquire 43 percent stake in the Singapore-headquartered engineering services company, Tata Motors said in a statement on Thursday. Warburg Pincus will ...

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• 17 June

  Amazon-Whole Foods deal to shake up $800bn grocery sector

  

  Bloomberg Since its founding 23 years ago, Amazon.com Inc. has upended the business of selling books, music and just about everything else we consume — except food. Not anymore. In one fell swoop, Amazon founder Jeff Bezos charged into the supermarket business with the $13.7 billion acquisition of Whole Foods. The surprise deal shakes up the $800 billion grocery sector ...

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• 17 June

  Dow-DuPont wins US antitrust nod to create chemicals giant

  Bloomberg Dow Chemical Co. and DuPont Co. won US antitrust approval for their $73 billion merger, overcoming one of the last remaining hurdles to a deal that would create a global chemicals giant. The companies said that the assets they agreed to sell to win US approval didn’t go beyond what they had already agreed to with other jurisdictions. DuPont ...

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• 17 June

  Nestle’s chief moves to sell US sweets

  

  Bloomberg Nestle SA’s new chief executive officer is putting the world’s biggest food company on a diet, moving to shed its US confectionery business as he seeks growth from healthier and more profitable businesses. Half a year after taking the helm at the Vevey, Switzerland-based company, Mark Schneider put brands like Butterfinger and BabyRuth up for sale. Nestle’s shares rose ...

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• 17 June

  Trump rolls back Obama-led Cuba opening with limits on new deals

  

  Bloomberg President Donald Trump announced new restrictions limiting US citizens’ ability to travel to and do business in Cuba, moving to roll back his predecessor’s historic rapprochement and drawing a rare rebuke from the nation’s largest business lobbying group. The changes Trump announced include a ban on Americans doing business with the military and intelligence-affiliated companies that control large swaths ...

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• 17 June

  Queen sees ‘sombre mood’ after fire as May struggles

  Bloomberg Queen Elizabeth II declared a “somber national mood” after the deadly apartment tower fire in West London killed at least 30 people as doubts mount about Prime Minister Theresa May’s handling of the crisis. For two days, May’s government has struggled to respond to the fire at Grenfell Tower, opened four decades ago as state-subsidized housing. She met survivors ...

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• 17 June

  Even after thirteen weeks into Lee trial, no smoking gun

  Bloomberg The trial of Jay Y. Lee, heir to the Samsung Group empire, has featured thousands of pages of documents and hundreds of hours of testimony from dozens of witnesses. But experts say one thing is missing: a smoking gun. The billionaire stands accused of paying bribes to South Korean President Park Geun-hye and then trying to conceal it, charges ...

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