(Reuters) – British drugmaker GSK said on Tuesday it would pay up to $3.3 billion to acquire privately held biopharmaceutical firm Affinivax, as it seeks to bolster its vaccine pipeline. (Reporting by Pushkala Aripaka in Bengaluru; Editing by Shailesh Kuber)
By Rachel Savage and Leigh Thomas LONDON/PARIS (Reuters) – China’s lack of experience with tricky debt restructurings and slow coordination among its public lenders is holding up debt relief for Zambia, a test case for the top emerging market creditor, three sources familiar with the matter said. Zambia became in 2020 the first country to…
PARIS (Reuters) – Despite incremental improvement from some sector leaders, the fashion industry’s 30 largest listed companies risk falling short of social and environmental targets of the Paris climate agreement and UN Sustainable Development Goals, a report from the Business of Fashion showed Tuesday. “You’ve got some front runners making small steps of progress but…
SINGAPORE (Reuters) -Oil prices extended gains on Tuesday after the EU agreed to slash oil imports from Russia, fuelling worries of a tighter market already strained for supply amid rising demand ahead of peak U.S. and European summer driving season. Brent crude for July, which expires on Tuesday, rose $1.13 to a fresh two-month top…
BEIJING (Reuters) -China’s factory activity fell at a slower pace in May as COVID-19 curbs in major manufacturing hubs were relaxed, but movement controls continued to weigh on demand and production, raising doubts about economic growth in the second quarter. The official manufacturing purchasing managers’ index (PMI) rose to 49.6 in May from 47.4 in…
MEXICO CITY (Reuters) – Mexico’s Economy Ministry has accepted a U.S. request to probe alleged labor abuses at a Panasonic auto parts plant in the northern border city of Reynosa, it said on Monday. The request from the U.S. Trade Representative (USTR) earlier this month marked the third U.S. labor complaint under a new trade…
By Wayne Cole SYDNEY (Reuters) -A surge in Australia’s imports in the first quarter and surprising strength in government spending and inventories have added to uncertainty over this week’s reading on gross domestic product (GDP). The current account surplus shrank unexpectedly, data showed on Tuesday, as the jump in imports took a chunk out of…
SINGAPORE (Reuters) – Stocks wobbled and bonds fell in Asia, while the dollar rose on Tuesday after a hot inflation reading in Germany heightened nerves about the pace and scale of looming interest rate hikes. Rising energy prices added to worry about the persistence of consumer pain. Brent crude futures touched a two-month top of…
By Alun John HONG KONG (Reuters) – The euro gave back some of its recent gains on Tuesday, but was still set for its best month in a year as markets reposition in anticipation of interest rate increases in Europe and the possibility of a slower pace of U.S. rate hikes. The euro was at…
By Daniel Leussink and Kantaro Komiya TOKYO (Reuters) -Japan’s factories posted a sharp fall in output in April as China’s COVID-19 lockdowns and wider supply disruptions took a heavy toll on manufacturers, clouding the outlook for the trade-reliant economy. Separate data showed retail sales posted the largest rise in nearly a year as consumers stepped…
