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(Reuters) – FTX CEO John Ray will tell lawmakers on Tuesday that the bankrupt cryptocurrency exchange had “unacceptable management practices” including the commingling of assets and lack of internal controls, according to prepared remarks published by the U.S. House Financial Services Committee. FTX filed for U.S. bankruptcy protection last month and its founder Sam Bankman-Fried …

FTX CEO to detail “unacceptable management practices” in congressional testimony Read More »

By Ross Kerber (Reuters) – A United Nations-backed responsible investment group has sided with U.S. financial services provider TIAA and turned down a request that the firm’s membership be reviewed and possibly revoked over its fossil fuel investments, a group spokesman said on Monday. Environmentally minded activists in October filed a complaint to the Principles …

Responsible investment group rejects activist complaint over TIAA Read More »

WASHINGTON (Reuters) – The November U.S. budget deficit jumped by $57 billion or 30% from a year earlier to $249 billion, a record for the month, as revenues fell and outlays for education, healthcare and interest on the public debt rose sharply, the U.S. Treasury said on Monday. Receipts for November fell 10% or $29 …

U.S. November deficit rises sharply as revenues fall, outlays jump Read More »

(Reuters) – Mercedes-Benz Vans will build its first electric-only vans plant in Jawor, Poland, pending approval of conditions including the sign-off of subsidies for its investment in the country, the company said on Monday. The van maker, a division of Mercedes-Benz, has signed a declaration of intent with the Polish government and other partners to …

Mercedes-Benz Vans plans first electric-only plant in Jawor Read More »

(Reuters) – Rivian Automotive Inc said on Monday it is pausing its joint venture with Mercedes-Benz Vans, just three months after the companies entered a partnership to make electric vans in Europe. The electric vehicle maker said it will focus on its consumer and existing commercial business as it tries to become cash flow positive …

Rivian pauses JV plans with Mercedes-Benz to make electric vans in Europe Read More »

(Reuters) -Amgen Inc is set to buy biotech firm Horizon Therapeutics Plc at a valuation of about $26 billion in what would be its largest acquisition, Bloomberg News reported on Monday, after French drugmaker Sanofi dropped its bid. The U.S. biotechnology company has offered about $116.5 for each Horizon share, according to the report, citing …

Amgen set to buy biotech firm Horizon at $26 billion valuation – Bloomberg News Read More »

ZURICH (Reuters) – Roche’s head of its pharmaceuticals division will leave the drugmaker at the end of the year, the Swiss company said on Monday, as it confirmed other parts of its succession plan. Former Genentech boss Bill Anderson “has decided to pursue opportunities outside of Roche,” Roche said, with a successor due to be …

Roche’s head of pharmaceuticals to leave company Read More »

(Reuters) -Amgen Inc is in advanced talks to buy biotech company Horizon Therapeutics Plc, the Wall Street Journal reported on Sunday, while rival bidder French health group Sanofi announced it had dropped its bid. A deal for Amgen to buy the company could be finalised by Monday assuming the talks don’t fall apart, the Journal …

Amgen emerges frontrunner in Horizon deal as Sanofi drops bid Read More »

(Reuters) – Blackstone Inc has warned of possible delays to the launch of a new private equity fund designed for wealthy individuals, as it copes with heavy investor withdrawals at two other funds in real estate and credit aimed at a similar clientele, the Financial Times reported on Saturday. The New York-based investment manager has …

Blackstone may slow the launch of private equity fund after investor withdrawals -FT Read More »