man pointing

REUTERS/Amr Abdallah Dalsh

A man shows cracks in his walls in Al-Assal, one of the oldest slums in the Shubra district of Cairo, Egypt.

Good morning! Here’s what you need to know.

Microsoft is making a big acquisition. Microsoft is buying LinkedIn for $ 26.2 billion, the company announced on Monday. Microsoft will pay $ 196 per share for the company. LinkedIn CEO Jeff Weiner will remain CEO of the social network for professionals, reporting directly to Microsoft CEO Satya Nadella.

Brexit is gaining support. According to two ICM polls, one online and one conducted by telephone, “Out” held 53% support compared with 47% support for “In,” the Guardian newspaper, which sponsored the telephone poll said.

Asian shares dipped. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.4% in early trade, after Wall Street lost ground for the third straight session. Japan’s Nikkei stock index slipped to two-month lows in choppy trade.

Amazon is getting fined. The US Federal Aviation Administration said on Monday it is proposing a $ 350,000 civil fine against Amazon for allegedly violating hazardous materials regulations, when it transported a corrosive drain cleaner.

A Chinese company is buying European assets. China’s Midea Group Co is only seeking a 49% stake in German industrial robot maker Kuka, Handelsblatt reported, citing unnamed sources in the German government.

Bitcoin is on a tear. In the space of a month, bitcoin’s value has jumped by more than 30% – from around $ 450 (£317.38) in mid-May to the $ 700 mark it is hovering around today. This is the highest bitcoin’s price has been in around two years – it last broke the $ 700 mark back in February 2014.

The former owner of BHS made millions. Dominic Chappell received £2.6 million ($ 3.7 million) in fees, salary, and other payments from BHS during his time owning the department store, according to a letter sent to MPs.

Nokia is strengthening its Chinese ties. Nokia has signed a €1.36 billion ($ 1.5 billion) one-year framework deal with China Mobile, the Finnish company said, easing fears that it would lose market share while it merges operations with Alcatel-Lucent.

Sarkozy will face a challenger. A former top aide to Nicolas Sarkozy said he would run against him in the conservative party’s primaries for the 2017 presidential election, further weakening Sarkozy’s own bid.

It will be harder to get an Uber in Hungary. Hungary passed legislation which could curb the activities of Uber after months of protests by taxi drivers, following in the footsteps of other countries that have banned some of its ride-hailing services.

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Business Insider » Finance

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