Media Focus on Multinational Corporations





Chinese home appliance maker Qingdao Haier Co will invest 475 million euros ($545.06 million) in Italy-based Candy Group to further accelerate its growth in the European market, according to a statement over the weekend. Under a deal signed with Candy, the Chinese company will combine its operations in Europe with those of Candy to enhance its competitiveness in Europe and globally. (China Daily)


Chinese property-to-entertainment conglomerate Wanda Group signed a strategic partnership with US leading hospital UPMC on Sunday to jointly build international hospitals, as part of the company's deeper dive into the country's burgeoning healthcare sector. (China Daily)


Tech giant Intel Corp and healthcare tech startup HY jointly announced on Friday that they would deepen their partnership to further develop an artificial intelligence system that will help with breast cancer diagnosis and treatment. (National Business Daily)


Chinese tech giant Tencent Holdings Ltd. and global investment firm KKR agreed on Thursday to acquire 'substantial' minority stakes in Philippine technology firm Voyager Innovations that could be worth up to 175 million U.S. dollars. Upon the closing of the transaction, which is expected within the fourth quarter of 2018, PLDT Inc., the leading digital services provider in the Philippines, will remain as the majority shareholder of Voyager Innovations. (Global Times)


China's top securities regulator has approved the IPO application by Chinese insurance giant People's Insurance Company (Group) of China Limited (PICC). The company and its underwriters will confirm the schedule for listing at the Shanghai Stock Exchange and release the prospectus following discussions with the bourse, according to a statement from the China Securities Regulatory Commission (CSRC).( National Business Daily)


Amazon has shown in a series of moves that it is serious about growing its private label business. There are many benefits to growing an Amazon-exclusive product catalogue, including wider selection and lower prices. Merchants and brands that sell on Amazon are growing increasingly worried about competing directly with Amazon. (CNBC)


Ford plans to cut some of its 70,000 salaried jobs in an effort to improve efficiency. The company does not yet know how many jobs it plans to cut, the company said. But it expects to have more details by the second quarter of 2019. Ford said it employs 70,000 salaried workers. (CNBC)


U.S. internet giant Google said Monday that it is shutting down the consumer version of its own social networking site Google+ due to low usage and a bug discovered in March last year that could leak the data of about half a million of its users. (Xinhua,net)


Cisco is cozying up to the start-up world as part of a plan to revive growth. As part of this plan, it's the principal investor in a $500 million venture fund that will be run by Jon Sakoda, a former partner at venture firm NEA. (CNBC)