By Blake Brittain (Reuters) – The U.S. Supreme Court handed brand owners a win against parody products on Thursday when it ruled that “Bad Spaniels” dog toys resembling Jack Daniel’s whiskey bottles are not shielded by the U.S. Constitution from the liquor maker’s trademark lawsuit. The decision is likely to force companies to toe a…
ZURICH (Reuters) – UBS Group’s takeover of Credit Suisse, arranged by the Swiss authorities to stave off a broader banking crisis, became official on Monday. The closing of the tie-up marks the final chapter for the 167-year old institution after years of scandals and missteps eroded customer confidence and brought the lender to the edge….
BERLIN (Reuters) – Volkswagen’s supervisory board will meet on Tuesday to discuss a planned savings programme ahead of its capital markets day on June 21, two sources close to the company said on Monday. The board will discuss cost-cutting measures amounting to at least 3 billion euros ($3.22 billion) across the Volkswagen, Seat, Skoda and…
COPENHAGEN (Reuters) -Danish drugmaker Novo Nordisk will invest 15.9 billion Danish crowns ($2.29 billion) to expand a production facility in Denmark for products to treat serious chronic diseases, the company said in a statement on Monday. The existing facility produces active pharmaceutical ingredient (API), the main biologically active components of medicines, and will be expanded…
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…
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…
By Rae Wee SINGAPORE (Reuters) – The dollar held its ground on Monday but was still near multi-week lows against some of its major peers as traders were on guard ahead of central bank meetings this week, including the Federal Reserve’s where it will announce its rates decision. The U.S. currency was pinned near a…
LONDON (Reuters) – Odey Asset Management Partnership has named replacements for Crispin Odey on key funds after severing “personal and economic involvement” with him following allegations of sexual misconduct, said a letter seen by Reuters on Sunday. The firm, which had $4.8 billion in assets under management as of September 2022, announced on Saturday Odey…
(Reuters) – Illumina CEO Francis deSouza stepped down on Sunday, the gene-sequencing machine maker said in a statement, ending a battle with activist investor Carl Icahn in which the company’s chairman left the company earlier this year. Illumina said it named Senior Vice President and General Counsel Charles Dadswell as interim CEO. DeSouza will stay…
