By Phoebe Seers LONDON (Reuters) -The Bank of England on Monday proposed that issuers of widely used stablecoins be allowed to invest up to 60% of the assets backing them in government debt, part of a raft of new rules that suggest a softening in its approach to the sector. In its latest proposal for …
Bank of England softens stablecoin stance with new proposals Read More »
By Mariam Sunny (Reuters) -Shares of Metsera fell over 15% in early trading on Monday, after the weight-loss drug developer accepted a sweetened offer from Pfizer to end a fierce bidding war between the pharma giant and Danish rival Novo Nordisk. U.S. drugmaker Pfizer said late on Friday it had clinched an up to $10 …
Metsera falls after accepting up to $10 billion offer from Pfizer Read More »
ROME (Reuters) -Raytheon and Lockheed Martin will be the major customers of Avio’s planned solid rocket motor plant in the United States, the Italian rocket maker said on Monday. Raytheon, which is the defence arm of aerospace giant RTX, and Lockheed Martin will have preferred access to a share of production at the plant, Avio …
Avio’s US rocket motor plant to supply Raytheon and Lockheed Martin Read More »
(Reuters) -British finance minister Rachel Reeves on Monday said the Labour government could not deliver its manifesto commitments on tax without taking harmful measures like deep cuts to investment spending. “It would of course be possible to stick with the manifesto commitments, but that would require things like deep cuts in capital spending,” Reeves told …
UK’s Reeves: delivering tax vows would mean deep investment cuts Read More »
(Reuters) -Israeli contract chipmaker Tower Semiconductor <TSEM.O> on Monday forecast fourth-quarter revenue above estimates, banking on strong demand for its chips used in data centers and AI infrastructure, sending its U.S.-listed shares up 15%. The shares hit their highest in more than two decades following the results, after surging 63.2% this year. The company expects …
Tower Semiconductor posts upbeat revenue forecasts on data-center boom, shares rise Read More »
By Patrick Wingrove (Reuters) -Swiss drugmaker Novartis said on Monday it has opened a new 10,000-square-foot factory in Carlsbad, California, to make cancer treatments, as part of its pledge to invest billions into building U.S. sites. The plant will produce radioligand therapies, which are drugs that deliver cell-killing radioactive particles directly to tumors, the company …
Novartis opens new plant in California to make cancer drugs Read More »
By Foo Yun Chee BRUSSELS (Reuters) -Privacy activists say proposed changes to Europe’s landmark privacy law, including making it easier for Big Tech to harvest Europeans’ personal data for AI training, would flout EU case law and gut the legislation. The changes proposed by the European Commission are part of a drive to simplify a …
Critics call proposed changes to landmark EU privacy law ‘death by a thousand cuts’ Read More »
By Stine Jacobsen, Maggie Fick and Jacob Gronholt-Pedersen COPENHAGEN (Reuters) -Shares in Novo Nordisk rose on Monday after the Wegovy maker lost out to Pfizer in a $10 billion bidding war for U.S. biotech Metsera, as investors had viewed its offer as too complex. The Danish drugmaker also came under increased scrutiny over governance as …
Novo Nordisk shares rise on investor relief after it exits Metsera bid Read More »
BERLIN (Reuters) -Germany must undertake sweeping reforms to regain its economic competitiveness, Economy Minister Katherina Reiche said on Monday, warning that the country is mired in a structural crisis. “The situation is serious,” Reiche said in a keynote speech in Berlin, adding that Germany had fallen behind internationally. Though the stagnant German economy is likely …
Germany needs sweeping reform to regain competitiveness, minister says Read More »
MADRID (Reuters) -U.S. fund Apollo’s sports investment arm Apollo Sports Capital has agreed to become the majority shareholder in top-tier Spanish football club Atletico Madrid, the club said on Monday, without disclosing any financial details. A source close to the deal said it would value the whole of the club at approximately 2.5 billion euros …
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