A Disappointing Hong Kong Debut, But Fibocom Still At Frothy Valuations
The wireless module maker’s shares fell 11.7% in their Hong Kong debut and continued to slump the next day, but still trade at an inflated valuatio…
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Musk suggests late Twitter disclosure was a mistake, seeks to end lawsuit
By Jonathan Stempel NEW YORK (Reuters) – Elon Musk wants to dismiss a lawsuit by former Twitter shareholders who said he waited too long in early 2022 to reveal his large ownership stake in the social media company, saying “all indications” show his delay was a mistake. In a late Wednesday night filing in Manhattan…
Merck to buy eye-focused drug developer EyeBio for as much as $3 billion
(Reuters) – Merck on Wednesday agreed to acquire privately held biotech EyeBio for as much as $3 billion, the latest in a string of deals by the US drugmaker to bolster its future growth. It agreed to pay $1.3 billion in cash and another $1.7 billion in future milestone-based payments for EyeBio, and will gain…
Putin clears out deputy defence ministers, appoints his relative
MOSCOW (Reuters) – Russian President Vladimir Putin on Monday sacked four deputy defence ministers and appointed a relative, Anna Tsivileva, to fill one of the vacancies. Putin sacked deputy defence ministers Nikolai Pankov, Ruslan Tsalikov, Tatiana Shevtsova and Pavel Popov, according to Kremlin decrees. He appointed Tsivileva, who Russian media said is the daughter of…
Are Medical Stocks Lagging Cronos Group (CRON) This Year?
Here is how Cronos Group (CRON) and Castle Biosciences, Inc. (CSTL) have performed compared to their sector so far this year.
US credit spreads widen on political jitters, Treasuries rally
By Davide Barbuscia and Matt Tracy NEW YORK (Reuters) – The spreads between U.S. investment-grade corporate bond yields and U.S. Treasuries have surged to their highest in over three months, in a sign of risk aversion due to political uncertainty in France and as U.S. government bonds rallied. Spreads indicate the premium investors demand to…
US regulators to open antitrust inquiries of Microsoft, OpenAI and Nvidia
By Jody Godoy (Reuters) -The U.S. Justice Department and the Federal Trade Commission have reached a deal that allows them to proceed with antitrust investigations into the dominant roles that Microsoft, OpenAI and Nvidia play in the artificial intelligence industry, according to a source familiar with the matter. Under the deal, the U.S. Department of…
SpaceX’s Polaris crew set for first private spacewalking mission next week
By Joey Roulette WASHINGTON (Reuters) – A four-person crew for SpaceX’s Polaris Dawn mission arrived in Florida on Monday ahead of their Aug. 26 launch to space for a mission that includes the first privately managed spacewalk, a risky endeavor only government astronauts have done in the past. The crew – a billionaire entrepreneur, a…
Kyiv says Russian forces pressing hard in eastern Ukraine
KYIV (Reuters) – Ukraine’s military said its troops were subjected to dozens of attacks by Russian forces on Monday around Toretsk and Pokrovsk, two settlements in eastern Ukraine where Moscow is gaining ground against embattled Ukrainian forces. In a statement, the military said Russian troops attacked Ukrainian defenders 21 times over the course of Monday…
European drinks group skid after US surgeon general calls for cancer warnings
(Reuters) – Shares in European spirits makers and brewers fell on Friday after the U.S. surgeon general called for cancer warnings on alcoholic drinks. Alcoholic drinks should carry a label warning consumers about their cancer risks, U.S. Surgeon General Vivek Murthy said in an advisory, noting that their consumption increases the risk of developing breast,…