Business News Weekly ─ June 24, 2019

Amazon.com was named the world’s most valuable brand in the Annual BrandZ ranking, beating Apple and Google.

From The Wall Street Journal below: 

Google commits $1 billion to housing construction in the San Francisco Bay area, the latest in a series of commitments by tech companies to address the affordable crisis in the region.

Apple feels suppliers pain. Slow iPhone sales are hurting Japan Display, and its key customer – Apple. Apple may offer financial aid.

Slack debut value tops $15 billion. Slack technologies Inc. is set to make its trading debut Thursday on the New York Stock Exchange with the valuation of about $15.7 billion, a second major company to go public through a direct listing. This means they are not going through a banking company.

Companies are finding ways to go public without a standard initial public offering.

Chewy soars 59% in stock debut. Online Tech – On line pet-products Chewy, post strong gains in its market debut reflecting continued strength of initial public offerings of e-commerce companies.

IPO roles on despite recent flops.

China Biotech’s poach US talent, with lucrative pay packages, a more entrepreneurial work environment, and all without asking them to uproot their lives in the US. Several Chinese companies are forming offices in Silicon Valley for this.