Intel Becomes Olympics Sponsor, Will Bring Tech to the Games

Intel said Wednesday it would become a major sponsor of the International Olympic Committee, making the computer chipmaker the latest technology company to put marketing dollars behind the global sporting event. The new deal, which goes until 2024, comes a week after longtime Olympics sponsor McDonald’s Corp bowed out of its sponsorship deal three years early, citing a change in the company’s priorities as it tries to hold down costs….

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Diageo to Buy Clooney’s Tequila Brand in $1B Deal

Global liquor behemoth Diageo said Wednesday it will pay up to $1 billion to buy a tequila brand co-founded by movie star George Clooney.   Clooney founded the Casamigos brand four years ago with partners Rande Gerber and Mike Meldma.   Diageo said it will pay $700 million for Casamigos at first, and then pay another $300 million over 10 years if the brand reaches certain performance milestones.   London-based…

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Lockheed Wins US Air Force Deal for Radar Threat Simulators

Lockheed Martin Corp said on Wednesday it had won a $104 million U.S. Air Force contract to develop, produce and field a threat simulator to train combat aircrews to recognize and deal with rapidly evolving threats, such as surface-to-air missiles. Tim Cahill, vice president of air and missile defense systems for Lockheed, said a number of other countries had already expressed interest in the  Advanced Radar Threat System Variant 2,…

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India and Afghanistan Open Air Freight Corridor to Bypass Pakistan

Although Afghan businesses have long wanted to exploit the potential of India’s huge market, trade between the two countries has been hampered due to their tense relations with Pakistan. But a plane loaded in Kabul with 60 tons of medicinal plants landed in New Delhi this week, raising hopes of giving a major boost to commerce between landlocked Afghanistan and India. The flight flagged off the establishment of a new…

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Uber CEO Kalanick Resigns Under Investor Pressure

Travis Kalanick, the combative and troubled CEO of ride-hailing giant Uber, resigned Tuesday under pressure from investors. The company’s board confirmed the move early Tuesday, saying in a statement that Kalanick is taking time to heal from the death of his mother in a boating accident -while giving the company room to fully embrace this new chapter in Uber’s history.” He will remain on the Uber Technologies Inc. board. In…

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Red Cross App Helps Refugees in Italy Find Food Banks, Doctors, More

The Red Cross launched a smartphone app Tuesday to help refugees and migrants arriving in Italy access information and services, including medical, psychological and legal support. The digital platform called “Virtual Volunteer” was unveiled on World Refugee Day as new data showed the number of refugees globally reached a record 22.5 million in 2016. “People moving are often caught in a fog of poor information,” said Jagan Chapagain, head of…

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Red Cross App Helps Refugees in Italy Find Food Banks, Doctors

The Red Cross launched a smartphone app Tuesday to help refugees and migrants arriving in Italy access information and services, including medical, psychological and legal support. The digital platform called “Virtual Volunteer” was unveiled on World Refugee Day as new data showed the number of refugees globally reached a record 22.5 million in 2016. “People moving are often caught in a fog of poor information,” said Jagan Chapagain, head of…

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US Expands Sanctions Against Russia, Ukraine Separatists

The United States Treasury Department announced additional sanctions Tuesday against Russia, pro-Russian separatists in eastern Ukraine, and individuals and companies associated with them. The move comes on the heels of a White House meeting Tuesday between President Donald Trump and Ukrainian President Petro Poroshenko. The increased sanctions is in response to continued Russian support for pro-Russian rebels in eastern Ukraine. Prior to his meeting with Trump, Poroshenko stressed the importance…

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MSCI to Add Chinese Mainland Shares to Emerging Markets

Chinese stocks will be included for the first time in a leading U.S. index of emerging market shares. The New York-based index giant MSCI said Tuesday that it would add 222 Chinese A shares beginning next year. “International investors have embraced the positive changes in the accessibility of the China A shares market over the last few years, and now all conditions are set for MSCI to proceed with the…

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