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Reckitt Benckiser: Primavera Capital acquired Mead Johnson business in China for $2.2 billion

Jun 07, 2021 08:21 am UTC| Business Economy

Reckitt Benckiser announced last weekend that it is selling its Mead Johnson Nutrition company in China to Primavera Capital Group. The deal was said to be valued at $2.2 billion. As per Reuters, while Primavera Capital...

Verizon, AT&T offering free iPhones to long-term customers

Jun 07, 2021 07:49 am UTC| Business Economy

Verizon and ATT are expanding their offerings to loyal customers as part of a strategy for people to continue with their monthly plans. In part, this could also be a way to attract more subscribers since they can get...

Samsung heir Lee Jae Yong could be pardon as hinted by the Democratic Party head

Jun 07, 2021 05:59 am UTC| Business Economy

Lee Jae Yong, the Samsung heir, and head is currently in jail after being handed down a two-and-a-half-year imprisonment sentence for bribery. However, it seems that he will be getting out of prison very soon. Possible...

Coupang tests first overseas business in Japan

Jun 07, 2021 05:26 am UTC| Business Economy

Coupang, still fresh from its New York Stock Exchange listing in March, is planning a global expansion. To kick start its plans, it was revealed that the South Korean leading e-commerce player had picked Japan as its first...

China accuses H&M, Nike, Zara and 13 other brands of selling unsafe products

Jun 05, 2021 20:57 pm UTC| Economy Business

China has accused 16 companies, including HM, Nike, Zara, of selling unsafe or poor-quality childrens clothes and other goods. The customs agency came up with a list of products that should be returned or destroyed such...

Nissan postpones release of electric SUV due to chip shortage

Jun 05, 2021 19:18 pm UTC| Economy Business

Nissan Motor Co. postponed the release of its electric flagship model Ariya SUV due to the persisting semiconductor shortage. The Ariya SUV was set to go on sale in mid-2021 but Nissan changed plans and said a limited...

Corona named Most Valuable Beer Brand despite impact of name similarity to coronavirus

Jun 05, 2021 15:43 pm UTC| Economy Business

By aligning with vacation vibes such as being the cold beverage of choice during a hot day at the beach, Corona has become the most valuable beer brand according to a new list by Brand Finance. The annual report on the...

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Economy

Taiwan Stock Market Ends Higher as Semiconductor and Energy Shares Lead Gains

Taiwan stocks closed higher on Thursday, supported by broad-based gains across key sectors including semiconductors, oil, gas and electricity, as well as construction. The Taiwan Stock Exchange Weighted Index finished the...

BOJ Governor Signals Gradual Rate Hikes as Japan’s Inflation Nears 2% Target

Bank of Japan Governor Kazuo Ueda said Japans underlying inflation is steadily accelerating and moving closer to the central banks long-standing 2% target, reinforcing expectations that interest rate hikes will continue if...

UBS Warns of Short-Term Risks as Precious Metals Rally to Record Highs

Gold, silver, and platinum have surged to fresh record highs heading into the year-end holiday period, drawing strong attention across global commodity markets. However, UBS is urging investors to exercise caution, warning...

Japan Revises Economic Growth Forecast as Stimulus Fuels Consumption and Investment

Japans government has revised upward its economic growth forecast for the fiscal year ending next March and projected faster expansion in the following year, citing the positive impact of a large-scale stimulus package...

U.S. Stocks Rally to Record Highs as AI Rebound Fuels Holiday-Shortened Session

U.S. stocks closed higher on Wednesday, with the Dow Jones Industrial Average and the SP 500 finishing at record closing highs during a broad-based rally in a holiday-shortened trading session. All three major indexes...

Politics

U.S. Prioritizes Economic Pressure With Venezuelan Oil Quarantine as Sanctions Intensify

The United States has shifted its near-term military focus toward enforcing a so-called quarantine on Venezuelan oil exports, signaling a strategy that prioritizes economic pressure over direct military confrontation....

Hanwha Signals Readiness to Build Nuclear-Powered Submarines at Philly Shipyard for U.S. Navy

Hanwha Group has announced that its Philadelphia-based shipyard has the technical capability to build nuclear-powered submarines for the U.S. Navy, highlighting the South Korean conglomerates growing ambitions in the...

China’s One-Child Policy Legacy Resurfaces After Death of Former Population Chief

The death of Peng Peiyun, a former senior Chinese official who oversaw the countrys one-child policy for a decade, has reignited fierce debate on Chinese social media about the long-term impact of the controversial...

Christmas Eve Jazz Concert Canceled After Kennedy Center Renaming to Include Trump

A planned Christmas Eve jazz concert at the Kennedy Center in Washington, D.C., has been canceled following a controversial decision to rename the iconic performing arts institution to include the name of Republican U.S....

Palau Agrees to Accept Up to 75 U.S.-Transferred Migrants in Deal Tied to Increased American Aid

Palau has agreed to accept up to 75 migrants transferred from the United States after signing a memorandum of understanding (MOU) with Washington, a move that has drawn international attention amid ongoing debate over U.S....

Science

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Blue Origin’s New Glenn Achieves Breakthrough Success With First NASA Mission

Blue Origins massive New Glenn rocket marked a major milestone as it completed its first mission for paying customers, sending two NASA satellites toward Mars and successfully landing its reusable booster at sea. The...

Cogent Biosciences Soars 120% on Breakthrough Phase 3 Results for Bezuclastinib in GIST Treatment

Cogent Biosciences (NASDAQ: COGT) shares skyrocketed over 120% after the biotech company announced groundbreaking results from its Phase 3 PEAK trial evaluating bezuclastinib in combination with sunitinib for patients with...

Technology

Nvidia to Acquire Groq in $20 Billion Deal to Boost AI Chip Dominance

NVIDIA (NASDAQ: NVDA) has reportedly agreed to acquire Groq, a fast-growing designer of high-performance artificial intelligence accelerator chips, in a $20 billion all-cash transaction, according to a CNBC report. The...

Texas App Store Age Verification Law Blocked by Federal Judge in First Amendment Ruling

A federal judge in Texas has blocked the enforcement of a new state law that would have required app stores and developers to verify users ages, marking a significant legal win for major technology companies and digital...

FTC Praises Instacart for Ending AI Pricing Tests After $60M Settlement

The U.S. Federal Trade Commission has welcomed Instacarts decision to end its artificial intelligence-based price testing, a move that follows weeks of consumer backlash and regulatory scrutiny. FTC Chair Andrew Ferguson...

John Carreyrou Sues Major AI Firms Over Alleged Copyrighted Book Use in AI Training

Investigative journalist John Carreyrou, widely known for exposing fraud at Silicon Valley blood-testing startup Theranos and for authoring the bestselling book Bad Blood, has filed a new copyright infringement lawsuit...

Italy Fines Apple €98.6 Million Over App Store Dominance

Italys competition authority has imposed a 98.6 million ($115.53 million) fine on U.S. technology giant Apple and two of its subsidiaries, citing alleged abuse of a dominant market position related to the distribution of...