Global Market developments include Major global developments include Chinese President Xi Jinping’s visit to France, former Starbucks CEO’s advice, and South Korea’s illegal short sellers.
World Street highlights Chinese President Xi Jinping’s visit to France, South Korea’s crackdown on illegal short sellers, Steve Wozniak’s space startup raising funds, and KKR’s Indian healthcare investment.
French and Chinese companies agreement
French and Chinese companies have signed agreements in energy, finance, and transportation sectors, following appeals from Macron and EU Commission Chief Ursula von der Leyen for a more equitable trade relationship.
KKR, Healthium Medtech deal
KKR is nearing a deal to acquire Indian medical device manufacturer Healthium Medtech from UK-based Apax Partners for Rs 7,000 crore ($838.60 million), granting KKR a controlling stake in the Healthium group.
Wozniak’s space data startup
Apple co-founder Steve Wozniak’s space data startup, Privateer, has secured $56.5 million in funding and acquired Orbital Insight, enhancing its space data portfolio with mapping and intelligence services. Privateer, established in 2021, was led by Aero X Ventures.
Investigation
South Korea’s market watchdog has discovered violations of short-selling regulations by seven additional domestic stock market banks, following a comprehensive inquiry into trading activities at foreign investment banks, following a prohibition on short selling in November last year.
CEO’s outlook on Starbucks
Former Starbucks CEO Howard Schultz believes the company can bounce back by enhancing its US stores, improving its mobile order and pay system, and prioritizing premium offerings. He also emphasizes the importance of focusing on customer experience rather than solely relying on data.
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