Bloomberg Businessweek - USA (2019-06-17)

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BloombergBusinessweek June17, 2019

HONG

KONG:

PHILIP

FONG/AFP/GETTY IMAGES. GOVE, HANCOCK, HUNT, JAVID, LEADSOM, MCVEY, RAAB, STEWART: BLOOMBERG. HARPER, JOHNSON, BIDEN: GETTY IMAGES

 IN BRIEF

By Benedikt Kammel

○ United Technologies and

Raytheon plan to join forces,

creating an aviation and

defense giant with about

$70b

in sales. Their range of

products will include

jet engines, missiles,

cockpit electronics, and

cybersecurity services.

○ Deutsche Bank’s

investment bank head

Garth Ritchie was

among about 80 current

and former employees

ensnared in a probe of

alleged tax fraud. Ritchie

said he wasn’t personally

involved in the activity

in question and that the

investigation would find

no wrongdoing by him.

○ The list of candidates

hoping to succeed Theresa

May as Conservative Party

leader and U.K. prime

minister swelled to 10

before the first round of

voting. Boris Johnson, the

former foreign secretary, is

favored to come out ahead

when rank-and-file Tories

vote in late July.

Michael Gove

Matt Hancock

Mark Harper

Jeremy Hunt

Sajid Javid

Boris Johnson

Andrea Leadsom

Esther McVey

Dominic Raab

Rory Stewart

○ Two executives

at a top Lloyd’s

of London agent

resigned over

allegations

of sexual

harassment.

○ Salvator Mundi, the

masterpiece attributed

to Leonardo da Vinci that

sold in 2017 for a record

$450m

has resurfaced in an

unlikely location, according

to Artnet: on board the

superyacht Serene,

which is owned by Saudi

Crown Prince Mohammed

bin Salman.

○ Hudson’s Bay Chairman

Richard Baker is making a

cash bid valued at about

$1.3b

to take the beleaguered

Canadian retailer private

following four successive

years of sliding share

returns.

○ President

Trump threatened

China with tariffs

on an additional

$300 billion in

imports.

○ Protesters in Hong Kong braved tear gas and rubber bullets on June 12 in the

standoff over a bill that would allow extraditions to mainland China.

Trump hopes to pressure Chinese

President Xi Jinping to meet with him at

the G-20 gathering in Japan later this

month. This latest trade salvo came just

days after the U.S. called off proposed

levies on Mexican imports.

The alleged incidents came to

light after a March Bloomberg

Businessweek article about endemic

sexual misconduct at the insurance

market. On June 12, a second Lloyd’s

agentsuspendedtwoemployees.

○ “The cashiers at

on—they know m

about economic

than Trump.”

Joe Biden, the front-runner for the 2020 Democratic

nomination, slammed the president’s trade policiesas

destructive during a rally in Iowa, a key early-votingstatee.

○ Amazon.com was named the world’s most valuable brand in the annual BrandZ ranking, beating Apple and Google.

○ Global carbon emissions jumped the most in seven years in 2018 as energy use surged, according to a review by BP.

○ Kazakhstan elected Kassym-Jomart Tokayev, its first new leader since 1989, in a vote marked by street protests.

○ Martin Feldstein, a Harvard economist and chairman of the Council of Economic Advisers from 1982 to 1984, died at 79.