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August, 29, 2016

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Eurozone economic activity edged higher in August with few signs that Brexit-linked dangers were yet hurting the European economy, a closely watched survey showed Tuesday.
 
Lithuania says it has signed a contract to purchase dozens of German military vehicles worth 386 million euros (US$437 million), in the Baltic country's largest weaponry purchase to date.
 
Pfizer will pay about US$14 billion to buy cancer drug developer Medivation in a cash deal aimed at fortifying its hold in one of the hottest and most lucrative areas of medicine.
 
Valeant Pharmaceuticals replaced Robert Rosiello as chief financial officer as the embattled company attempts to normalize operations amid a host of ongoing investigations and class action lawsuits.
 
Taiwan's industrial production dropped unexpectedly in July, ending two months of consecutive gains, according to statistics released by the Ministry of Economic Affairs (MOEA) Tuesday.
 > Taiwan
 
A five-year-old securities fraud case rooted in the financial crisis against the former chief executive of mortgage giant Fannie Mae ended Monday in stalemate, court filings showed.
 
Domestic demand gives boost to Asian economies
Loose monetary policy should support growth in Asia in coming months, economists say, but regional growth is likely to be negatively affected by a slowdown in China and possible Brexit fallout.
 
S Korean tech startups accuse Naver and Kakao of copying their software
Local startups are speaking out against South Korean IT giants that have allegedly plagiarized their services, saying that such unfair practices further marginalize smaller companies in the country's highly competitive tech sector.
 > Korea
 
Eurozone stock markets rose Monday looking ahead to a key meeting of central bankers at the end of the week, but London retreated on heavy falls for heavyweight mining shares.
 
German auto giant Volkswagen said on Monday it would halt production at six plants for several days as a legal dispute with two key suppliers deepened.
 
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