UNITED STATES
Waters vows Trump probe
Democrat Maxine Waters, in line to take over the House Financial Services Committee, told colleagues she would undertake a deep dive into President Donald Trump’s “money trail,” beginning with ties to Deutsche Bank AG. In a memo obtained by Bloomberg, Waters promised that if she becomes the next chair of the panel with oversight over Wall Street, she would look at Deutsche Bank and examine any so-called suspicious activity reports filed with the Financial Crimes Enforcement Network.
HEALTHCARE
Kirin to shift from beer
Kirin Holdings Co, Japan’s second-largest beer brewer, plans to shift its core business strategy from beverages to “health and illness-preventing” solutions, the Sankei newspaper reported, citing chief executive officer Yoshinori Isozaki. The Tokyo-based company is planning a global expansion of products that use its proprietary lactic acid bacteria technology, which it believes can prevent illnesses, such as the common cold and influenza, the newspaper reported.
AUTO RACING
NASCAR bids for ISC stock
NASCAR has submitted a non-binding offer to acquire all Class A and Class B common stock of International Speedway Corp (ISC) not already owned by the controlling shareholders of auto racing series. The intent is to combine ISC and NASCAR as one privately-run group of companies led by the France family. Jim France, chairman and chief executive officer of NASCAR, said that the two companies need a unified approach for growth. NASCAR’s offer is to be reviewed by a committee of ISC board members.
SOFTWARE
Symantec stock rebounds
Symantec Corp’s shares have slumped this year amid an internal accounting investigation and waning consumer interest in antivirus software for PCs. Last week, the stock surged after a report that private equity firm Thoma Bravo LLC had approached the cybersecurity company about a potential takeover. “Sometimes we get some headlines, rumors and speculation and our policy is not to comment,” Symantec chief executive officer Greg Clark told Bloomberg Television on Thursday.
INFRASTRUCTURE
Atlantia to pay compensation
Italian infrastructure group Atlantia has set aside 350 million euros (US$396.81 million) to cover the estimated cost of rebuilding the Genoa bridge, which collapsed in August, and compensating the families of those killed. Atlantia’s net profit of 733 million euros was below an average estimate from analysts of 767 million euros. The company also decided not to pay an interim dividend for the first time since 2013.
ROMANIA
New wage tiers announced
The government has passed an emergency ordinance creating two different levels for the minimum national wage. According to Friday’s measure, the minimum monthly salary is to be 2,080 leu (US$506.32) starting Jan.1, while those with higher education qualifications or 15 years of employment are guaranteed 2,350 leu. Previously, there was a flat minimum monthly salary of 1,900 leu regardless of an employee’s qualifications.
MediaTek Inc (聯發科), the world’s biggest smartphone chip supplier, yesterday said it plans to double investment in data center-related technologies, including advanced packaging and high-speed interconnect technologies, to broaden the new business’ customer and service portfolios. The chip designer is redirecting its resources to data centers, mainly designing application-specific integrated circuits (ASIC) with artificial intelligence (AI) capabilities for cloud service providers. The data center business is forecast to lead growth in the next three years and become the company’s second-biggest revenue source, replacing chips used in smart devices, MediaTek president Joe Chen (陳冠州) told a media event in Taipei. “Three or four years
Until US President Donald Trump’s return a year ago, when the EU talked about cutting economic dependency on foreign powers — it was understood to mean China, but now Brussels has US tech in its sights. As Trump ramps up his threats — from strong-arming Europe on trade to pushing to seize Greenland — concern has grown that the unpredictable leader could, should he so wish, plunge the bloc into digital darkness. Since Trump’s Greenland climbdown, top officials have stepped up warnings that the EU is dangerously exposed to geopolitical shocks and must work toward strategic independence — in defense, energy and
Motorists ride past a mural along a street in Varanasi, India, yesterday.
For the second year in a row, a Brazilian movie has wowed international audiences and critics, securing multiple Oscar nominations and drawing fresh interest in the Latin American giant’s film industry. Experts say the success of The Secret Agent, which has won four Oscar nominations, a year after I Am Still Here won Brazil its first Oscar, is no fluke, with a bit of a push from the country’s political climate. “This is neither a coincidence nor a miracle. It is the result of a lot of work, consistent policies, and, of course, talent,” Ilda Santiago, director of the Rio International Film
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