Gildan Activewear, which makes sweatshirts and other activity clothing, is buying underwear company Hanesbrands for $2.2 billion. When Hanesbrands’ debt is included, the deal’s value totals $4.4 billion.
Tag: Economy
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SPECIAL REPORT: TO BUILD A CHEAPER EV, FORD DITCHES THE ASSEMBLY LINE
Ford Motor CEO Jim Farley called 12 August “a Model T moment”—the equivalent of Henry Ford’s 1913 debut of the assembly line that would build his Model T car, make it affordable for the middle class, and revolutionize manufacturing for the 20th century.
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
Last month, growth in China’s retail sales and industrial production slowed from June, confronting Beijing with both facets of its economic malaise at the same time.
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LITHIUM PRICES JUMP AFTER CHINA CLOSES KEY MINE
The global price of lithium has rocketed up as much as 30 percent over the past two months as Chinese authorities made clear they would not renew the operating license of a key mine.
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SPECIAL REPORT: TRUMP’S TARIFF WAR
Through June, U.S. consumers paid about 22 percent of Donald Trump’s new tariffs on imported goods, according to calculations by Goldman Sachs. U.S. companies paid 64 percent, with foreign suppliers covering 14 percent of the cost.
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SPOTLIGHT: BIGS GETTING BIGGER
Blackstone, the world’s richest private equity firm, is negotiating with several potential private lenders to secure about $3 billion in loans to buy Enverus Inc., a data and software service for the energy industry, people familiar told Bloomberg.
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SPECIAL REPORT: TRUMP’S TARIFF WAR
On 7 August, new U.S. tariffs took effect on goods arriving in the U.S. from more than 90 countries. U.S. businesses and consumers now pay an average tariff rate of about 18 percent, economists have calculated, the highest rate in 90 years and eightfold more than the 2.3 percent when Donald Trump took office.
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CAR SALES IN CHINA INCREASED MORE SLOWLY IN JULY
Beijing’s efforts to rein in the bloody price war that has battered the country’s automakers in recent months showed some effect last month.
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SPOTLIGHT: BIGS GETTING BIGGER
Cybersecurity specialist Palo Alto Networks will buy CyberArk Software, an Israeli counterpart, for about $25 billion as Palo Alto CEO Nikesh Arora seeks to scale his company in tandem with AI’s spread through business, government, and military operations.
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SPECIAL REPORT: TRUMP’S TARIFF WAR
On 31 July, Donald Trump took the next step in his global trade war, announcing major revisions to the tariff rates he bannered on his 2 April “Liberation Day” event.
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