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On April 21, it was learned from the Anhui Provincial Key Laboratory of Quantum Computing Chips that Chinas third-generation domestically developed superconducting quantum computer, "Origin Wukong," has initially acquired the capability to integrate artificial intelligence computing and has launched several quantum AI tools, including the quantum knowledge model Origin Brain and QPanda3 Runtime MCP. This breakthrough marks the first time that my countrys independent quantum computing power has been systematically integrated into the AI application ecosystem, propelling my countrys domestically developed quantum computers from "usable" to "easy to use."On April 21, South Koreas newly appointed central bank governor stated that he will adopt a cautious and flexible monetary policy strategy. Currently, rising oil prices are exacerbating inflationary pressures and casting a shadow over the economic growth outlook. On Tuesday, Shin Hyun-song, who succeeded Lee Chang-yong, stated that it is necessary to re-examine the central banks role from a longer-term perspective. He pointed out that structural issues such as demographic changes, inequality, and the real estate market should be considered important components of monetary policy. The new governor stated that the economy is currently facing increasing uncertainty due to the ongoing Middle East crisis. At the same time, rising global energy prices have increased the upside risks to inflation, while the downside risks to economic growth are also increasing. In his inaugural address, he stated, "Due to the supply shocks triggered by the Middle East conflict, uncertainty regarding the path of inflation and economic growth has increased significantly." He pledged to implement monetary policy "in a prudent and flexible manner" to ensure price and financial stability.JPMorgan Chase: Raises its year-end 2026 target for the S&P 500 to 7,600, up from 7,200 previously.On April 21, the Japanese government formally revised its "Three Principles on the Transfer of Defense Equipment" and its application guidelines at a cabinet meeting, allowing the export of lethal weapons in principle. Meng Mingming, assistant researcher at the Institute of Japanese Studies, Chinese Academy of Social Sciences, pointed out that Japans relaxation of arms export restrictions represents a significant shift in its postwar military and security policy. In reality, it is another strategic step by right-wing forces to promote "normalization," and its intentions and potential harms warrant high vigilance. Meng Mingming noted that, in terms of intentions, Japans current economic downturn, high fiscal deficit, severe aging population, and long-term limitations on military production capacity clearly contradict the ambitions of the Japanese right wing to revive militarism and actively expand its military. Therefore, the Japanese government plans to achieve multiple objectives by strengthening its arms export policy. In terms of harms, this relaxation of restrictions on the export of various lethal weapons will fundamentally impact Japans postwar principle of exclusively defensive defense. For Sino-Japanese relations and regional peace, the vast majority of countries to which Japan intends to export weapons are Chinas neighboring countries. By upgrading the weaponry of these countries, Japan is actually bolstering the confidence of anti-China forces within these countries, which will only further exacerbate regional tensions.April 21 – According to the China Railway Urumqi Group Co., Ltd., the railway transportation period for this years May Day holiday will run from April 29 to May 6, a total of 8 days. Xinjiang railway authorities expect to transport 1.7996 million passengers, a 2% increase year-on-year, and plan to add a total of 302 temporary passenger trains. Among them, 30 temporary passenger trains will be for inter-provincial routes to Chengdu West and Lanzhou, and 272 will be for routes within Xinjiang.

Mondelez will buy energy bar producer Clif Bar for around $3 billion

Haiden Holmes

Jun 21, 2022 11:33

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Mondelez International Inc said on Monday it will buy energy bar producer Clif Bar & Company for $2.9 billion to expand its worldwide snack bar business.


The Cadbury maker will also pay additional amounts to the sellers based upon its earnings from Clif Bar, Mondelez (NASDAQ:MDLZ) stated.


The business said it will obtain the Clif, Luna and Clif Kid brands of bars in its portfolio with the acquisition, creating a $1 billion-plus worldwide snack bar franchise for itself.


"Mondelēz International is the perfect partner at the right moment to support Clif in our next chapter of growth," stated Sally Grimes, Chief Executive Officer, Clif Bar & Company. "Our aims and cultures are linked and being part of a global snacking company with extensive product offers can help us accelerate our growth."


Mondelez will continue to manufacture Clif's goods in its facilities at Twin Falls in Idaho and Indianapolis in Indiana, the firm said.


The food and beverage giant, which also makes Toblerone, Oreo and Tang, expects the merger to be accretive to its topline in the second year following the deal and will also create cost synergies for Clif's distribution due to the company's worldwide scale.


Clif Bar's acquisition represents the eighth merger since 2018 as Mondelez works towards reorganizing its portfolio for stronger long-term growth.


Mondelez forecasts organic net revenue to reach above 4 percent in 2022, while its long-term growth target is of more over 3 percent .


The purchase is likely to finalize in the third quarter, Mondelez said.