Many delegates from the world’s 20 largest economiesarrived at a summit in Argentina over the weekend determined to clinch an agreement to reform the global trade system, pushed to a breaking point by tensions between the United States and China. To do so, they had to bow to U.S. and Chinese demands to drop some of the pledges that have become hallmarks of the Group of 20 industrialized nations.
Royal Dutch Shell caved in to growing investor pressureover climate change with plans to set short-term targets for reducing its carbon footprint. Shareholders had criticized Shell for last year setting long-term “ambitions” to halve its emissions of carbon dioxide by 2050, which lacked binding targets for implementation.
Commentary:The U.S. Senate decision to vote on a resolution to end military support for the Saudi-led war in Yemen was a rebuke for President Donald Trump over his support for Saudi Arabia's Crown Prince Mohammed bin Salman after the killing of Saudi journalist Jamal Khashoggi, writes Mohamad Bazzi, a journalism professor at New York University.
Nexstar Media Group said it agreed to buy Tribune Media Company in a deal valued at $6.4 billion. Nexstar said it would pay $46.50 per share, representing a premium of 15.5 percent to Tribune Media’s closing price on Friday.
GlaxoSmithKline has agreed to buy U.S. cancer drug specialist Tesaro for $5.1 billion, marking a major biotech investment by the drugmaker as its seeks to rebuild its pharmaceuticals portfolio.
U.S. chipmaker Qualcomm rejected a suggestion by the White House that its collapsed $44 billion acquisition of Dutch peer NXP Semiconductors could be revived, saying the deal had been terminated as the deadline had expired.
Tencent Music Entertainment launched its hotly-anticipated U.S. initial public offering (IPO) of up to $1.2 billion after global stock markets were boosted by a truce brokered by U.S. and Chinese leaders in their trade conflict.
When companies try to tackle rising healthcare costs, shifting more of the burden to employees is increasingly the strategy of choice. But Activision Blizzard, an entertainment company that employs more than 6,000 people in the United States, has been spending less on healthcare than projected for the last few years, in large part because it is offering better options for cancer care.
