- Edgar Su/Reuters
Good morning! Here’s what you need to know.
1. Top White House economic adviser Larry Kudlow suffered a heart attack and is being treated at a Washington area hospital, President Donald Trump said in a tweet.“Our Great Larry Kudlow, who has been working so hard on trade and the economy, has just suffered a heart attack. He is now in Walter Reed Medical Center,” Trump said.
2. Clothing retailer Boohoo said group revenue rose by 53% to £183.6 million pounds ($245 million) in the three months to May 31. It expects revenue growth of up to 40% for the full year.
3. Malaysia’s ousted Prime Minister Najib Razak said he did not benefit or steal money from 1Malaysia Development Berhad (1MDB). Authorities searched a new premise and sought additional witnesses in an ongoing probe on the state fund.
4. A group of Takeda shareholders is building support to block the $62 billion acquisition of London-listed Shire at an extraordinary general meeting. The 130 member group formed by ex-Takeda employees hold 1% of the drugmaker’s shares, and needs the support of a third of shareholders.
5. Japanese flea market app operator Mercari’s IPO is raising up to $1.2 billion in the nation’s biggest share sale so far this year. The firm seeks to replicate its domestic success overseas, especially in the money-losing US market.
6. Standard Chartered plans to apply for “virtual banking” license in Hong Kong. The Hong Kong Monetary Authority is expected to start granting licenses to virtual banking platforms toward the end of this year or in the first quarter of next year.
7. Bombardier has been awarded a $4.9 billion contract to build and operate a passenger transit system at the Los Angeles International Airport. The Canadian plane and train maker has a 10% stake in the venture, which also includes Balfour Beatty, ACS Infrastructure and Fluor Enterprises.
8. France and Germany are making progress on drawing up a joint roadmap for euro zone reform due later this month, French Finance Minister Bruno Le Maire said.French President Emmanuel Macron and German Chancellor Angela Merkel aim to present their reform proposal at a European Union summit on June 27.
9. Billionaire Patrick Soon-Shiong plans to take an experimental cancer treatment company public this year and has begun hiring bankers, the biotechnology entrepreneur told Reuters. The new company, to be called Nant, would use most of the money raised from the initial public offering to develop a pipeline of cancer drugs.
10. Claroty, a maker of software to defend factories and industrial plants from cyber attacks, has raised $60 million. The investors included Rockwell Automation, Schneider Electric and Siemens AG.