(Reuters) – U.S.-based private equity fund Blackstone will submit a bid next week to acquire a 33.47% stake in Indian drugmaker Cipla, the Economic Times reported on Friday, citing people in the know. The stake sale will formally start the exit of the Hamied family who had founded Cipla in 1935, the report added. Cipla…
A look at the day ahead in European and global markets from Ankur Banerjee: Investors have kept their risk-off hat as the market looks to cap off a volatile week that followed the Bank of Japan’s policy tweak and ended with worries about where U.S. yields are headed. Futures indicate European stocks are set for…
(Reuters) -The U.S. health regulator rejected Mesoblast’s cell therapy for children under 12 years of age for treating a type of complication that occurs after a stem cell or bone marrow transplant, sending its Australia-listed shares crashing about 58% on Friday. The U.S. Food and Drug Administration (FDA) required more data to support marketing approval…
By Priyamvada C and Doyinsola Oladipo (Reuters) -Airbnb forecast third-quarter revenue above market estimates on Thursday, but industry fears of softening U.S. domestic demand sent the vacation rental firm’s shares down 1.2% in after-hours trading. The San Francisco-based company forecast quarterly revenue between $3.3 billion and $3.4 billion, ahead of analysts’ average estimate of $3.22…
BEIJING (Reuters) – China’s Zhengzhou city has launched measures to support its property market, including easing home resale restrictions, in what analysts said were the first such moves by a big city heeding signals from policymakers. The measures by the capital of China’s central Henan province included reductions on mortgage rates and down payment ratios,…
By Neil Jerome Morales and Enrico Dela Cruz MANILA (Reuters) -The Philippine central bank said it was ready to tighten monetary policy as necessary to keep a lid on price pressures, after data on Friday showed inflation remains above target. The consumer price index in July slowed to 4.7%, statistics agency data showed, the lowest…
By Akash Sriram (Reuters) – U.S. electric vehicle startups are expected to show the impact of Tesla’s price war when they report quarterly results over the next few days, with investors awaiting details on how the companies are managing cash amid a funding drought. Even market leader Tesla has warned of “turbulent times” and traditional…
By Sharon Bernstein (Reuters) -Florida has told school superintendents that an Advanced Placement psychology course offered to high school students violates a new state law prohibiting instruction on sexual orientation and gender identity, the nonprofit that develops the courses said on Thursday. “The Florida Department of Education has effectively banned AP Psychology in the state,”…
By Xie Yu HONG KONG (Reuters) – Citigroup’s Asia family office business expects a 25% increase in clients this year, the U.S. bank’s regional head of its family office advisory business said, as Singapore and Hong Kong vie to attract more wealth. The momentum builds off a strong 2022 when the bank saw client numbers…
By Andrew Goudsward, Sarah N. Lynch and Jacqueline Thomsen WASHINGTON (Reuters) -Donald Trump pleaded not guilty on Thursday to charges he orchestrated a plot to try to overturn his 2020 election loss in what U.S. prosecutors call an unprecedented effort by the then-president to undermine the pillars of American democracy. Special Counsel Jack Smith, who…
