FT News Briefing AstraZeneca could spin off China business
Jun 19, 2023
AstraZeneca is planning to spin off its China business, navigating rising tensions with the U.S. This move could reshape corporate strategies in the pharmaceutical sector, especially as China presents lucrative market opportunities. Meanwhile, France is standing up to Germany regarding a controversial European air defense initiative. On a different note, U.S. companies are scaling back investments in diversity initiatives, potentially reversing hard-won progress. The UK government, however, is focusing on AI adoption to enhance economic productivity.
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AstraZeneca's Strategic Spin-off
- AstraZeneca is considering spinning off its China business due to rising US-China tensions.
- This is a precautionary measure to protect its interests in both markets.
France Challenges Sky Shield
- France challenges Germany's Sky Shield initiative, a European air defense plan.
- France criticizes its reliance on non-European weapons.
Diversity and Inclusion Cutbacks
- Corporate diversity and inclusion investments, spurred by George Floyd's murder, are declining.
- The effectiveness of these initiatives remains debatable, with mixed feedback from Black professionals.