Media Focus on Multinational Corporations





Huawei confirmed its plans to build and operate an optical device research and development base in Cambridge within the next five years. The facility, occupying 513 acres (2 square kilometres) of land, will be located at a base in the village of Sawston, 11 kilometers outside of Cambridge and just 15 minutes from the headquarters of Arm Holdings, the United Kingdom's largest technology company. (China Daily)

Sam's Club, a Walmart-owned membership warehouse club, said Monday that it planned to add 16 new chain stores to the existing 24 on the Chinese mainland by 2020.The plan showed the confidence of Walmart and Sam's Club in the sophisticated and differentiated development of China's retail market. (China Daily)

Oracle has started massive job cuts at China Research & Development Center (CDC). It is reported that the first batch of over 900 workers is set to be eliminated, 500 of which are from the Beijing R&D center. Dissatisfying with the compensation plan, some employees on Tuesday put up banners to protest. (China Daily)

Collaboration between Chinese technology giant Tencent and London-based startup Medopad in the realm of artificial intelligence that will target Parkinson's disease is being greeted by experts in the United Kingdom. Tencent is conducting trials with the relatively UK digital health startup that are aimed at developing and validating algorithms that the companies hope will be able to predict complications across a range of disease indications, including Parkinson's, cancer, and heart disease. (China Daily) 

Alphabet lost roughly $70 billion in market value in intraday trading on Tuesday after reporting signs of slowing revenue growth, especially in its critical digital advertising business. The tech giant said Google’s online advertising revenue rose 15 percent to $30.72 billion, marking its slowest rate of growth in the last three years and falling short of Wall Street’s expectations. The disappointing result came amid intense competition in the advertising business from the likes of Facebook and Amazon, tech rivals that each reported strong quarterly results in recent days. (National Business Daily)


German luxury auto manufacturer Porsche has resorted to rail transport, or China-Europe Railway Express, for its transcontinental logistics since April, German media dpa reported on Saturday. Citing a Porsche spokesman, the dpa report says the rail transport will bring Porsche sports cars to Chinese streets more quickly, cutting the transport time by three weeks. (National Business Daily)

Amazon has officially opened some new doors in New York City despite criticism surrounding its bailout of building a second headquarters in the city's borough of Queens. On Tuesday, the e-commerce giant announced that its 12th cashier-free Amazon Go store has opened in Brookfield Place in downtown Manhattan, but this one will accept cash after facing some criticism for catering only to customers who have credit cards and bank accounts. (National Business Daily)

Siemens will cut some 10,000 jobs in a major restructuring that will involve spinning off its oil, gas and power generation business and creating new areas of growth. News of the moves to increase profitability and address the struggling power business sent the company's share price up 4.6% to 107.30 euros ($120.20) in morning trading in Europe on Wednesday. (National Business Daily)

GM scores $1.15B Cruise investment for self-driving effort, the latest funding announcement from the carmaker as it seeks to try to launch an autonomous taxi offering in 2019. 'Having deep resources to draw on as we pursue our mission is a critical competitive advantage,' Cruise CEO Dan Ammann said. (Global Times)

Microsoft has announced an ambitious effort to make voting secure, verifiable and subject to reliable audits by registering ballots in encrypted form so they can be accurately and independently tracked long after they are cast. Two of the three top U.S elections vendors have expressed interest in potentially incorporating the open-source software into their voting systems. (Global Times)

Toyota Motor Corp, Japan's top automaker, said that higher costs to develop new technologies like connected cars was ramping up pressure to generate savings wherever possible, while Honda Motor Co said it would strip down its vehicle lineup to cut production costs. Two top Japanese automakers said they planned to tighten their belts in the years ahead to free up cash to develop electric cars and ride-sharing services. (Global Times)

Marathon Petroleum Corp. is merging two of its oil and gas pipeline, transportation and storage operations for $9 billion. MPLX and Andeavor Logistics are both master limited partnerships majority owned by Marathon, which raised the possibility that it might combine the two late last year. (Global Times)