America’s health-care industry（醫療行業） got a shock as Amazon, Berkshire Hathaway and JPMorgan Chase announced that they would form a non-profit company（非盈利機構） to cover the health needs of their combined million-strong employees. There were few details, other than a focus on technological innovation, but Amazon’s entry into the health market has long been expected, and feared, by conventional providers. Warren Buffett, Berkshire’s boss, described the ballooning costs of health care as a “hungry tapeworm” devouring the economy.
Janet Yellen presided（主持） over her last meeting as chairman of the rate-setting committee at the Federal Reserve, and kept it on course for another interest-rate rise（升息） in March. The central bank is going through a period of upheaval. Jerome Powell, who takes over as chairman, will soon have a new vice-chairman. A search is also under way for a replacement for the retiring head of the New York Fed.
A data-driven story
Blackstone, one of the world’s biggest private-equity firms（私募機構）, struck a $17bn deal to take a controlling stake in the financial-data business（財經資料企業） of Thomson Reuters. Thomson Reuters provides data analysis（資料分析） to traders（股市交易機構） around the world, competing with Bloomberg’s terminals. The business will be split off（拆分） into a privately held firm with Blackstone as the majority owner. That leaves Thomson Reuters with its news service.
JAB Holding, an investment group based in Luxembourg, expanded its portfolio（投資項目） in America by agreeing to buy Dr Pepper Snapple for $18.7bn, the biggest acquisition of a soft-drinks company to date. Dr Pepper Snapple owns several brands, including 7UP and Schweppes, which traces its roots to 1783, when it created the world’s first carbonated mineral water in Geneva.
Fujifilm unveiled a deal through which it will take a 50.1% stake in Xerox, ending the independence of an American corporate giant of the 20th century. The pair already operate a long-standing joint venture selling photocopiers in Asia; their agreement in effect broadens that venture to encompass all Xerox business.
Europe shining
America, Britain and the euro zone released preliminary estimates（初步估算） of their economic growth rates for 2017. The euro zone’s GDP rose by 2.5% over the year, its best performance since 2007. America’s rate also improved, to 2.3%. Britain’s economy expanded by 1.8%, the slowest pace since 2012. See article.
The number of cars made in Britain fell by 3% last year according to the Society of Motor Manufacturers and Traders. Output for the domestic market slumped by nearly 10%, though exports dipped only slightly. British carmaking is heavily dependent on exports, with four out of every five cars heading abroad. As EU countries drive half of that demand, Brexit will only make things more difficult for the industry in the coming years.
In a surprise turn of events, America’s International Trade Commission overturned the Trump administration’s recommendation that Bombardier’s C-series aircraft should be subjected to punitive tariffs（懲罰性關稅）, finding that the Canadian planemaker’s small passenger jets “do not injure” American industry. Boeing maintains that the C-series has benefited from state aid; it is “disappointed” with the ruling.
Facebook said that the amount of time users spend on its network had dropped by 50m hours a day in the fourth quarter of 2017. That was before it announced changes to its news feed, which it acknowledges will lead to less engagement with its site. In its latest earnings release, Facebook stressed it was now focused on what’s “good for people’s well-being and for society” by “encouraging meaningful connections”.
Capita, an outsourcing company（外包企業） that runs some big public services in Britain, such as London’s congestion charge, warned that its profit will fall far below expectations. With the bankruptcy of Carillion, another government contractor, still rippling through Whitehall, investors took fright, sending Capita’s share price down by 48%.
A few days before formally stepping down as chief executive of Hewlett Packard Enterprise, Meg Whitman accepted a new job as CEO of NewTV, a startup that will make short Hollywood-style videos purely for mobile devices. Ms Whitman describes it as “one of the most disruptive” ideas she has ever come across.
He chucked out your chintz
Ingvar Kamprad, who founded IKEA, died at the age of 91. He was by some measures one of the world’s richest men. Mr Kamprad’s flat-pack revolution spread from Sweden to 37 countries, bringing cheap-but-stylish furniture to the masses. Despite his wealth, he once said that “IKEA people do not drive flashy cars or stay at luxury hotels”.
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