Reuters UK Business

(This Oct. 3 story has been corrected to change the reference to Ozempic to say it’s a diabetes drug, and not a weight-loss and diabetes drug) By Maggie Fick COPENHAGEN (Reuters) – The CEO of Novo Holdings said on Tuesday the controlling shareholder of Danish drugmaker Novo Nordisk was ready for a huge windfall from …

Novo Nordisk owner readies for big Wegovy windfall Read More »

By Dominique Vidalon PARIS (Reuters) – Shares in French retailer Casino were suspended on Wednesday pending a statement, boosting speculation a final debt restructuring deal with creditors led by Czech billionaire Daniel Kretinsky to avert bankruptcy could be imminent. In July, France’s sixth largest retailer reached an agreement in principle with a consortium led by …

Casino shares suspended, news on debt deal expected soon Read More »

BRUSSELS (Reuters) – Euro zone retail sales fell much more than expected in August, data showed on Wednesday, pointing to weaker consumer demand as inflation remains high. The European Union’s statistics office Eurostat said retail sales in the 20 countries sharing the euro fell 1.2% month-on-month for a 21% year-on-year decline in August. Economists polled …

Euro zone retail sales fall much more than expected in Aug Read More »

By Steven Scheer JERUSALEM (Reuters) -Teva Pharmaceutical Industries will collaborate with French drugmaker Sanofi to develop a treatment for inflammatory bowel disease it hopes will become a blockbuster drug. Sanofi, a leader in immunology, will invest $1.5 billion in the development of Teva’s anti-TL1A drug, the companies said on Wednesday. The drug is still in …

Teva hopes Sanofi collaboration will lead to blockbuster IBD drug Read More »

(Reuters) -Struggling French IT firm Atos announced a management shakeup on Wednesday and appointed Yves Bernaert as chief executive officer, its third in less than two years. In July 2022, Atos named Nourdine Bihmane for the top job, which was vacated a month earlier by previous CEO Rodolphe Belmer, who held the post for just …

Struggling Atos appoints 3rd CEO in less than two years Read More »

(Reuters) -Sandoz made its market debut with a lower-than-expected valuation of 10.3 billion Swiss francs ($11.2 billion) on Wednesday, after the generic and biosimilar drugmaker was spun off from Swiss pharmaceutical company Novartis. Analysts had previously published a wide range of higher valuation estimates. Deutsche Bank had said Sandoz, which accounted for 11% of Novartis’ …

Novartis’ Sandoz valued at $11.2 billion in market debut Read More »

By Sruthi Shankar (Reuters) -European stocks slipped on Wednesday, hurt by a relentless rally in U.S. and European bond yields as investors came to terms with a higher-for-longer interest rate regime. The pan-European STOXX 600 index edged down 0.1%, hovering near a six-month low as of 0817 GMT. Automakers, retailers and banks were the biggest …

European stocks edge down as bond rout continues Read More »

By Joice Alves LONDON (Reuters) – Euro zone bond yields rose to their highest in over a decade on Wednesday as U.S. Treasuries led a selloff in debt markets after stronger than expected U.S. job openings data raised prospects of higher interest rates. The 30-year Treasury yield rose above 5% for the first time since …

Euro zone bond rout continues as Treasury yields surge to 2007 levels Read More »