(Reuters) – Innovent Biologics Inc said on Friday Paris-based Sanofi SA would invest HK$2.42 billion ($307.88 million) in the biopharmaceutical group to jointly develop two cancer drugs in China. The all-cash investment by Sanofi unit Sanofi Foreign Participations B.V. will be at a price of HK$42.42 per Innovent share, representing a premium of about 29%…
(Reuters) -Suncor Energy Inc posted an over fourfold rise in its second-quarter profit on Thursday, as Canada’s third-largest crude oil producer benefited from a rally in commodity prices. Sanctions against major oil producer Russia have worsened supply issues, sending global crude prices up nearly 48% in the first half of the year as energy companies…
By Ruhi Soni (Reuters) -Corteva Inc on Thursday raised its full-year sales and profit forecasts as the crop protection products maker benefits from surging demand from farmers looking to cash in on higher prices since the Ukraine war. The company, which reported a 14% jump in second-quarter operating earnings, also unveiled plans to exit some…
WASHINGTON (Reuters) -U.S. President Joe Biden met Thursday with labor leaders and CEOs from General Motors, Carrier, Kaiser Permanente and other companies to press Congress to pass the drug, climate and tax bill recently introduced by Democrats. “Pass it. Pass it, get it to my desk, pass it for the American people. Pass it for…
(Reuters) -Warner Bros. Discovery Inc on Thursday reported a second-quarter net loss of $3.4 billion and a slight decline in revenue, as the newly merged company reconfigures overlapping businesses from WarnerMedia and Discovery. The company, which reported combined results for the first time, also disclosed 92.1 million streaming video subscribers. The net loss includes about…
DoorDash on Thursday said it received a record number of customer orders in the second quarter, boosted by resilient demand and its acquisition of Finnish delivery service Wolt Enterprises. DoorDash said orders grew 23% to 426 million in the April-June period, surpassing Wall Street’s expectations. Analysts polled by FactSet forecast total orders of 419 million….
DETROIT (AP) — A Florida man who was killed in a traffic crash last month could be the 20th death in the U.S. caused by exploding Takata air bag inflators. Authorities say the driver of a 2006 Ford Ranger pickup truck was killed in a crash last month near Pensacola, Florida. The driver’s air bag…
One of the key themes around earnings the past couple of months is the pivot of consumers from buying “stuff” to buying “experiences”. The pandemic locked us into our houses and left no alternative but to buy new toys to play with on the couch. As the pandemic started to ease, revenge travel took hold….
By Foo Yun Chee BRUSSELS (Reuters) – EU antitrust regulators have asked app developers whether Alphabet unit Google’s threat to remove apps from its Play Store if they use other payment options instead of its own billing system has hurt their business, two people familiar with the matter told Reuters. Critics say fees charged by…
By Svea Herbst-Bayliss (Reuters) -Monro Inc shareholders should vote against all five of its board directors because the U.S. auto service company did not take action to loosen the grip of its controlling investor, shareholder advisory firm ISS said on Wednesday. Eighty-eight percent of Morno’s common shareholders supported a proposal last year to give each…
