The United States may block Chinese investment in some companies. According to Reuters:
The U.S. Treasury Department is drafting curbs that would block firms with at least 25 percent Chinese ownership from buying U.S. companies with “industrially significant technology,” a government official briefed on the matter said on Sunday.
The official, whose comments matched a report by the Wall Street Journal, emphasized that the Chinese ownership threshold may change before the restrictions are announced on Friday.
General Electric Co. (NYSE: GE) may sell one of its divisions. According to The Wall Street Journal:
General Electric Co. is nearing a deal to sell a unit that makes large industrial engines to private-equity firm Advent International for $3 billion or more, people familiar with the matter said, a move that would bring in needed cash for the struggling conglomerate.
A deal, if completed, could be announced on Monday, the people said. Advent appears to have beaten out Cummins Inc. in an auction for the businesses, according to the people.
The new Jurassic World movie got off to a solid start. According to Box Office Mojo:
Surpassing expectations, Universal and Amblin Entertainment’s Jurassic World: Fallen Kingdom got off to a strong start. With an estimated $150 million for Fallen Kingdom, this is only the second time ever two different films have brought in over $100 million over two consecutive weekends. The first time was in 2007 when Pirates of the Caribbean: At World’s End opened with $114.7 million following Shrek the Third’s $121.6 million opening the weekend prior. Disney and Pixar’s Incredibles 2 followed up its monster debut weekend last week with a second place finish this weekend as its domestic cume has already topped $350 million in just ten days.
New drinks from Starbucks Corp. (NASDAQ: SBUX) may not improve its fortunes. According to CNBC:
Decadent drinks topped with whipped cream are taking a back seat, as Starbucks continues to tweak its strategy on how to reverse more than a year of weak sales.
But according to some analysts, that may not solve the beverage giant’s growing list of problems.
The initial public offering of a Chinese company could be the largest in two years. According to CNNMoney:
Xiaomi, one of the world’s leading smartphone makers, is hoping to raise more than $6 billion by selling shares for a stock market listing in Hong Kong next month.
The Chinese tech firm announced the planned value of the listing Saturday. It’s less than the $10 billion Xiaomi was reportedly hoping to achieve a few weeks ago, but would still make it the world’s biggest initial public offering (IPO) in nearly two years.
China may help fund its economy amidst threats that could make it falter. According to CNNMoney:
China is freeing up more than $100 billion to help its economy, which is facing fears of a slowdown and an escalating trade war.
The country’s central bank said late Sunday that it is set to release as much as 700 billion yuan ($107 billion) into the financial system by reducing the amount of deposits that most commercial banks are required to hold.