By Tomasz Janowski, Oliver Hirt and John Revill ZURICH (Reuters) – With its Credit Suisse takeover officially wrapped up, UBS must now make good on its promise that the government-orchestrated rescue will deliver both for shareholders and Swiss taxpayers. The world’s biggest banking deal since the 2008 financial crisis has forged a wealth manager with…
By Joice Alves LONDON (Reuters) – European grocers could exceed market expectations for earnings growth this year as they keep prices high even as costs fall, but the spectre of declining inflation and government-imposed price caps is tempering investor hopes. Stock pickers have been lured to names like Tesco and Carrefour, whose profits have been…
By Ludwig Burger and Patricia Weiss HAMBURG (Reuters) -BioNTech will go to court on Monday to defend itself against a lawsuit from a German woman who is seeking damages for alleged side effects of its COVID-19 vaccine, the first of potentially hundreds of cases in the country. The woman, exercising her right under German privacy…
By Yoruk Bahceli and Stefano Rebaudo (Reuters) – Another quarter percentage-point rate hike from the European Central Bank looks like a done deal on Thursday, but the key question for markets is how many more will follow. Euro area inflation fell faster than expected in May and the bloc’s economy is in recession, boosting the…
BERLIN (Reuters) – Novartis said on Monday that it has entered in an agreement to acquire U.S.-based Chinook Therapeutics for $3.2 billion upfront, with the deal expected to close in the second half. The transaction is in the form of a merger of a newly formed Novartis subsidiary and Chinook, which has two high-value, late-stage…
By Howard Schneider, Leika Kihara, Balazs Koranyi and William Schomberg (Reuters) – Central bankers, who once considered obscurity central to their craft, are trying to wean the world from the predictability they’ve nurtured over 15 years of concrete guidance about their intentions and return to a time when policy starts, stops and occasional surprises were…
BEIJING (Reuters) – China’s property sector is expected to grapple with “persistent weakness” for years, Goldman Sachs analysts said, adding that its problems would continue to drag on the country’s economic growth. Weaknesses are particularly pronounced in lower-tier cities and private developer financing, they said in a client note, adding that policymakers, who have vowed…
BEIJING (Reuters) – China’s property sector is expected to grapple with “persistent weakness” for years, Goldman Sachs analysts said, adding that its problems would continue to drag on the country’s economic growth. Weaknesses are particularly pronounced in lower-tier cities and private developer financing, they said in a client note, adding that policymakers, who have vowed…
(Reuters) -Entities backed by Singapore’s Temasek and Chinese investment firm HighLight Capital agreed to a deal worth 1.06 billion yuan ($148.7 million) for stakes in a unit of VIVA Biotech Holdings, the pharmaceutical service company said late on Sunday. The deal, which will dilute VIVA Biotech’s stake in VIVA Shanghai to about 75.79% from 100%,…
A look at the day ahead in European and global markets from Ankur Banerjee After surprise interest rate hikes from the Reserve Bank of Australia and Bank of Canada, investors are a bit nervy heading into a week that brings us three major central banks meetings. (That’s the Fed, ECB and BOJ, for those keeping…
