Page 104 - Bloomberg Businessweek July 2018

◼ IN BRIEF Bloomberg Businessweek July 2, 2018
By Dimitra Kessenides
and Jillian Goodman
● Saudi Arabia ● China’s benchmark stock index has fallen 20 percent ● The White House began
plans to pump a from its 2018 high, entering a bear market. its search to replace
retiring Supreme Court
record 10.8 million Shanghai Stock Exchange Composite Index Justice Anthony Kennedy.
barrels of crude
oil in July, topping 3600

the previous
high of 10.7 million
barrels, reached 3200

in November 2016.

2800
1/2/18 6/27/18

● Conagra agreed to buy ● With the threat
Pinnacle Foods for of retaliatory
$8.1b tariffs looming,

in cash and stock, bringing Harley Davidson
the maker of Duncan Hines said it would
cake mix into the home of move some of
Reddi-wip. Together, the its production to
companies have about
● Alexandria Ocasio-Cortez, 28, Europe. 9
won the Democratic primary for New $11 billion in annual sales.
York’s 14th Congressional District.
The organizer for Bernie Sanders’s
presidential campaign beat Joseph The company previously announced
Crowley, who’d been seen as a plans to build a factory in Thailand
possible replacement for Nancy Pelosi after Trump backed out of the Trans
as leader of the House Democrats. Pacific Partnership.
● “We don’t have ● John Flannery, General
Electric’s CEO, said the
company will leave the
the luck of health-care business and
divest its stake in oilfield
service provider Baker
bordering Ireland.” Hughes, to focus on power, A list of 25 candidates compiled
renewable energy, and
by Trump’s team during the 2016
aviation. The news led to campaign included (from top left) Amy
Coney Barrett, Keith Blackwell, Charles
the stock’s biggest two-day Canady, Steven Colloton, Allison
rally since 2015. Eid, Britt Grant, Raymond Gruender,
Thomas Hardiman, Brett Kavanaugh,
Raymond Kethledge, Joan Larsen, Mike
Lee, Thomas Lee, Edward Mansfield,
CORTEZ: SCOTT HEINS/GETTY IMAGES. PANDA: GETTY IMAGES trusts Turkey’s president, Recep Tayyip Erdogan, who won reelection on June 24. Timothy Tymkovich, Robert Young,
Federico Moreno, Kevin Newsom,
William Pryor, Margaret Ryan, David
Greek Prime Minister Alexis Tsipras struggled to tell Bloomberg TV whether he
Stras, Diane Sykes, Amul Thapar,
He added, “It’s important for us to have good relationships with our neighbors.”
Don Willett, and Patrick Wyrick.
● The House soundly rejected (121-301) a compromise immigration bill supported by President Trump.
● As the World Cup moved to the knockout rounds, TV ratings in the U.S. were down more than 40 percent from 2014.
● Apple and Samsung settled a seven-year-long patent fight in the U.S. The companies didn’t disclose the accord’s terms.

● Vanguard filed with the SEC to create two ETFs of stocks that meet environmental and social good (ESG) requirements.