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Latecomer Sanofi looks to catch next wave of cancer therapies
PARIS (Reuters) – Sanofi missed the boat on immune system-boosting cancer drugs. Now it’s trying to catch up.
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ZTE’s Hong Kong shares rise after clarification of U.S. bill impact
HONG KONG (Reuters) – Shares of China’s ZTE Corp rose as much as 18 percent in Hong Kong on Wednesday as the impact of a U.S. Senate bill that threatens to restore penalties on the company became clearer.
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Fox to craft script for M&A summer blockbuster
(Reuters) – Twenty-First Century Fox Inc’s board is set to decide on Wednesday whether to entertain Comcast Corp’s $65 billion cash bid for the New York-based media company or stick with its roughly $52 billion all-stock offer from Walt Disney Co , people familiar with the matter said.
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ZTE shares rise in Hong Kong after clarification of U.S. bill impact
HONG KONG (Reuters) – Shares of China’s ZTE Corp rose as much as 18 percent in Hong Kong on Wednesday as the impact of a U.S. Senate bill that threatens to restore penalties on the company became clearer.
Business News
U.S. shale producers warn Chinese tariffs would hit energy exports
HOUSTON (Reuters) – China’s proposed tariffs on U.S. petroleum imports, part of a mounting trade war between the two countries, would crimp sales to the shale industry’s largest customer, adding new pressure on U.S. crude prices, energy executives and analysts said in interviews this week.
Business News
Dow-ned but not out: Expulsion no body blow for GE shareholders
(Reuters) – General Electric Co’s expulsion from the elite Dow Jones Industrial Average may be a bitter pill to swallow for shareholders, but it could be little more than a publicity blow for investors in the 126-year-old struggling U.S. conglomerate.
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China stocks extend slump, temper Asian bounce as trade war anxiety grows
SHANGHAI (Reuters) – China’s stock markets slumped on Wednesday, extending a rout from the previous day as the prospect of a full-blown Sino-U.S. trade war put a dampener on the rest of Asian equities, even as they managed a modest bounce.
Business News
Asia business sentiment slips from seven-year high on trade worries: Thomson Reuters/INSEAD
KUALA LUMPUR (Reuters) – Business confidence among Asian companies slipped for the first time in three quarters, on mounting worries that U.S. President Donald Trump’s protectionist policies would trigger tit-for-tat reprisals and undermine the global trading system.
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Xi Has Means to Squeeze U.S. Companies After Trump Threat
Jun.19 — China doesn’t import enough from the U.S. to match Donald Trump’s tariffs dollar for dollar, but President Xi Jinping can still squeeze American companies in other ways in retaliation. Bloomberg’s Enda Curran reports on “Bloomberg Daybreak: Asia.” …read more […]
Business News
Goldman Sachs to invest $500 million in women-run companies
(Reuters) – Goldman Sachs Group Inc will pump $500 million into companies led, founded or owned by women, as it steps up efforts to close the gender investing gap, the Wall Street bank said on Tuesday.
Business News
Chinese paper says Trump administration has ‘blood lust’ over trade
BEIJING (Reuters) – The Trump administration has “blood lust” when it comes to pushing its trade agenda against China and wants to “suck the lifeblood” from the Chinese economy, an official state-run newspaper said on Wednesday, stepping up the rhetoric.
Business News
Stocks recover from earlier rout but trade war fears seen capping gains
SHANGHAI (Reuters) – Stocks in Asia rebounded from recent losses on Wednesday as investors sought bargains, a day after the specter of a U.S.-China trade war rattled global markets, but significant uncertainty around the trade outlook is capping gains.
Business News
Silicon Valley-style coding boot camp seeks to reset Japan Inc
TOKYO (Reuters) – Barely six months after inaugurating a tiny software-coding boot camp in a basement in Tokyo, Silicon Valley transplant Kani Munidasa stood before some of Japan’s top business leaders in February with a warning: software was threatening their future.
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General Electric loses place in elite Dow Jones Industrial Average
General Electric Co has lost its spot in the Dow Jones Industrial Average after over a century in the blue chip stock index, a new blow to a company that once towered over the American business landscape but is now struggling to retain its standing as an industrial powerhouse. S&P Dow Jones Indices said on Tuesday that GE, an original member of the Dow when it was formed by Charles Dow in 1896 and a continuous member since 1907, will be replaced in the 30-component stock average by drug store chain Walgreens …read more […]
Business News
Asian markets rebound on bargain-hunting, shrug off trade war threats
SHANGHAI (Reuters) – Stocks in Asia rebounded from recent losses on Wednesday as investors sought bargains, a day after the specter of a U.S.-China trade war drove down bond yields, and share and commodity prices.