Press Digest: New York Times business news - June 18

Paradium.AI

18/06/2019 06:31

June 18 (Reuters) - The following are the top stories on the
New York Times business pages. Reuters has not verified these
stories and does not vouch for their accuracy.
    
    - As U.S. President Trump is gearing up to impose tariffs on
an additional $300 billion worth of Chinese products, hundreds
of businesses, trade groups and individuals are descending on
Washington to beg the administration not to follow through with
the new taxes. https://nyti.ms/31EmoUQ  
    
    - The digital platform company TheMaven Inc has bought the
right to publish Sports Illustrated, digitally and in print, for
at least the next 10 years, ending the former owner Meredith's
 MDP.N  relationship with Sports Illustrated a few weeks after
the landmark magazine's intellectual property was sold to the
Authentic Brands Group, TheMaven and Meredith announced Monday.
https://nyti.ms/31HfIp0
    
    - Sotheby's  BID.N  on Monday was acquired by French-Israeli
telecommunications entrepreneur and billionaire Patrick Drahi,
in a deal worth $3.7 billion. The purchase, by Drahi's BidFair
USA, returns the only publicly traded major auction house to
private ownership after 31 years on the New York Stock Exchange.
https://nyti.ms/31GAuVq
    
    - China's Huawei Technologies Co Ltd is slashing its sales
expectations for this year by around $25 billion as the Trump
administration's clampdown on the firm takes a bite out of its
business. At an event on Monday at Huawei's headquarters in
Shenzhen, the company's Chief Executive Ren Zhengfei said he
expected annual revenue to come in at about $100 billion both
this year and next before recovering in 2021. https://nyti.ms/31BNKL6
    
    - J Abrams is in final negotiations with Warner for a
multi-year partnership valued at about $500 million. The deal
covers movies, television shows, video games, consumer products,
music and digital content for a WarnerMedia streaming service
set to arrive early next year. https://nyti.ms/31DiPy3

 (Compiled by Bengaluru newsroom)
 ((globalnewsmonitoring@thomsonreuters.com))