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Media Focus on Multinational Corporations [2017.9.06]

During the Internationale Funkausstellung Berlin (IFA) 2017, Huawei Consumer Business Group unveiled a new era in smartphone innovation. In his keynote address, Richard Yu, the CEO of Huawei Consumer Business Group revealed Huawei's vision for the future of artificial intelligence (AI) with the launch of the Kirin 970. By combining the power of the cloud with the speed and responsiveness of native AI processing, Huawei is bringing AI experiences to life and changing the way people interact with their devices, Yu said. (chinadaily.com.cn)

 

United Technologies is acquiring Rockwell Collins for about 30 billion U.S. dollars in order to expand its aerospace business. United Technologies, which makes Pratt & Whitney engines and UTC Aerospace Systems, said on Monday that it will acquire Rockwell Collins for 140 dollars per share in cash and stock. The purchase price implies a total equity value of 23 billion dollars and a total transaction value of 30 billion dollars, including Rockwell Collins' net debt. (Xinhua)

 

Top toy maker Lego Group will cut about 1,400 positions, or around 8 percent of its total global workforce, as revenue fell 5 percent for the first half of 2017, the company announced Tuesday. Sales for the first six months of 2017 totaled 14.9 billion Danish kroner (2.4billion U.S. dollars), down from 15.7 billion kroner for the same period last year, according to its half-yearly financial report. Operating profit for the first half of 2017 declined by 6 percent to 4.4 billion kroner, down from 4.7 billion kroner of the first half of 2016. (Xinhua)

 

China Merchants Capital and Russia's Vnesheconom bank signed a memorandum of understanding on Tuesday with a view to financing joint projects and creating high-tech and innovation funds. The parties are considering setting up to invest in a fund in Russian companies, including those focused on exports. "Russia is an important participant in the Belt and Road Initiative and the signing of the MoU between VEB and CMC is undoubtedly fostering strategic cooperation and alignment between Chinese and Russian economies," said Anthony Yang, general manager of CMC SINO-BLR Fund. (China Daily)

 

Walt Disney Co, the world's largest entertainment company by revenue, is expected to get closer to Chinese consumers in lower-tier cities by setting up regional presences and enhancing digital cooperation. Luke Kang, executive vice-president and managing director of the Walt Disney Co in China, said in an exclusive interview with China Daily that the company is seeking growth in third and fourth-tier cities, as it already has a strong presence in first and second-tier cities. The company has recently split into four regional organizations based in Shanghai, Beijing, Shenzhen and Chengdu, with each unit empowered to develop their respective areas. (China Daily)

 

Consumer products giant Procter &Gamble announced on Tuesday it would invest $100 million over three years in its China Digital Innovation Center in Guangzhou Development District. The project will integrate P&G's digital technology research and innovation in fields such as big data and digitalized supply chain to accelerate the transformation of its business model. Established in 1988, the facility in Guangzhou Development District was the first investment by P&G in China. (chinadaily.com.cn)

 



 
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