Monday, 8 August 2022

Flush with cash, Pfizer buys Global Blood Therapeutics in $5.4 bln deal

Flush with cash, Pfizer buys Global Blood Therapeutics in $5.4 bln deal

Pfizer Inc is boosting its pipeline with a $5.4 billion deal for blood disorder drugmaker Global Blood Therapeutics , the latest in a series of acquisitions to combat a potential slowdown in COVID-19 products demand as cases fall.

Turkey offers 'a warehouse and bridge' for metals trade to Russia

Western sanctions have given the Turkish metals sector a chance to serve as "warehouse and bridge", the head of an industry group said, citing increased interest from Russian companies and also from EU companies seeking to sell to Russia via Turkey.

Whirlpool to buy InSinkErator for $3 billion from Emerson

Whirlpool Corp said on Monday it would buy Emerson Electric Co's food waste disposal business InSinkErator for $3 billion.

TSX futures rise as Barrick Gold profit beats

Canada's main stock index was set for a positive start to the week on Monday after miner Barrick Gold Corp reported a quarterly profit that beat analysts' estimates.

Government measures to ease inflation pain

Pandemic-related disruption to global supply chains and the knock-on effects of Russia's war in Ukraine are combining to push prices of energy, commodities and basic items higher.

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Futures tick up after Wall St selloff on jobs data

U.S. stock index futures rose on Monday after last week's blockbuster jobs data soothed some fears about an economic slowdown, but investors remained cautious as it also added to expectations of a hawkish Federal Reserve.

Companies in China distance themselves from Taiwan amid Pelosi backlash

From a Chinese soy sauce maker to an Asia-focused asset manager, companies in China are rushing to distance themselves from geopolitical tensions over Taiwan following last week's visit to the island by a high-profile U.S. official.

Ryanair to appeal against Hungary's 'baseless' consumer protection fine

Budget airline Ryanair said it would appeal to the courts after Hungary fined it for passing on the cost of a special business tax, worth 800 billion forints ($2.1 billion) in total, following a consumer protection investigation.

Singapore-based crypto lender Hodlnaut suspends withdrawals

Hodlnaut, a Singapore-based crypto currency lender and borrower has suspended withdrawals, swaps and deposits, the company said on Monday, the latest sign of stress in the cryptocurrency industry.

SoftBank plans Vision Fund job cuts after record net loss

SoftBank Group Corp is planning to cut headcount at its flagship Vision Fund investing arm, CEO Masayoshi Son said on Monday, after a crash in the value of its portfolio pushed his conglomerate to a record quarterly net loss.

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