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Search resuls for: "Temasek’s"


9 mentions found


☆ Argenx drug boost is mixed blessing for suitors
  + stars: | 2023-07-17 | by ( ) www.reuters.com   time to read: +2 min
LONDON, July 17 (Reuters Breakingviews) - Argenx (ARGX.BR) has long been a presumed takeover target for drugmakers like Pfizer (PFE.N). Many of its remedies like Vyvgart, which delivered positive drug trial results on Monday, are likely to reach their peak just as the big drugmakers’ revenues come under patent pressure. Still, the more successful Argenx becomes the more expensive it will be for a potential bidder. Since then the company’s shares have nearly doubled, including a 26% bump on Monday thanks to the positive trial results. Argenx’s drug trial success may give bidders comfort they are not buying a dud, but that reassurance comes with a downside.
Persons: Argenx, Prometheus, Aimee Donnellan, George Hay, Pranav Kiran Organizations: Reuters, Pfizer, Big Pharma, Twitter, Cathay, Thomson Locations: Belgian
☆ Cathay Pacific’s recovery finds its wings
  + stars: | 2023-07-14 | by ( ) www.reuters.com   time to read: +2 min
HONG KONG, July 14 (Reuters Breakingviews) - Cathay Pacific (0293.HK) is regaining its mojo. The return to profitability for the $7 billion airline, which expects earnings of as much as HK$4.5 billion, is well-timed. Dividends owed on the preference shares are due to rise from 3% to 5% in August and would continue to rise to as much as 9%. Buying back the shares, as the company plans to do within the next 12 months, will avoid the higher coupons. But as Cathay aims to return to 100% of pre-pandemic capacity by the end of 2024, confidence is returning to Hong Kong’s skies.
Persons: Ronald Lam, Thomas Shum, Una Galani, Pranav Kiran Organizations: Reuters, Cathay, HK, Hong, Pilots, Twitter, Thomson Locations: HONG KONG, HK, Hong Kong, Chengdu, Hong
☆ Byju’s virtue-signalling is late but valuable
  + stars: | 2023-07-14 | by ( ) www.reuters.com   time to read: +2 min
India’s once-most valuable startup is luring big talent even after its auditor Deloitte resigned and three investors including Prosus (PRX.AS) quit the company’s board. His experience navigating government departments will be handy as the Ministry of Corporate Affairs ordered an inspection of Byju’s books per Bloomberg. It also could shore up Byju’s hopes of raising cash from new investors to meet creditor demands for early repayment of a $1.2 billion loan. Prosus for example thinks the company is only worth $5.1 billion, down from a peak valuation of $22 billion. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Rajnish Kumar, Mohandas Pai, India’s, Kumar, Pai, Byju Raveendran, Divya Gokulnath, Pranav Kiran, Una Galani, Thomas Shum Organizations: Reuters, State Bank of India, Infosys, Deloitte, Ministry of Corporate Affairs, Bloomberg, Twitter, Thomson Locations: Bengaluru
☆ 5G push catches European telecom kit makers short
  + stars: | 2023-07-14 | by ( ) www.reuters.com   time to read: +2 min
LONDON, July 14 (Reuters Breakingviews) - The race to roll out faster 5G networks in the past two years has turned into a trap for telecom kit makers in Europe. The Finnish telecom gear group surprised investors with a profit warning; it cut its full-year net sales guidance to between 23.2 billion euros and 24.6 billion euros ($26.05 billion and $27.62 billion) from 24.6 billion euros to 26.2 billion euros previously. Mobile networks in big markets like the United States invested aggressively to roll out 5G equipment in 2021 and 2022, ending up with excessively high inventories. Yet this came just as mobile equipment makers’ customers started to rein in spending on the back of inflation, exacerbating their problem. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Karen Kwok, Lisa Jucca, Oliver Taslic Organizations: Reuters, Nokia, Ericsson, U.S, Twitter, Cathay, Thomson Locations: Europe, Swedish, Scandinavian, United States, India
☆ Cora strengthens Carrefour’s inflation defences
  + stars: | 2023-07-13 | by ( ) www.reuters.com   time to read: +2 min
LONDON, July 13 (Reuters Breakingviews) - Carrefour’s (CARR.PA) 1 billion euros acquisition of smaller rival Cora could be seen as a consequence of the French group’s ability to navigate rocketing inflation. It will give the combined company a near 23% share of the fragmented and competitive French market, consolidating Carrefour’s leadership on its home turf. Five years ago, Carrefour and Casino had begun tentative talks for a possible merger that ultimately collapsed. If anything, Cora’s acquisition will make Carrefour a more attractive target. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Cora, Daniel Kretinsky, Xavier Niel ., Pierre Briançon, Aimee Donnellan, Streisand Neto Organizations: Reuters, Carrefour, Casino, Twitter, Thomson Locations: French, France
☆ Exxon’s carbon-capture deal is pale shade of green
  + stars: | 2023-07-13 | by ( ) www.reuters.com   time to read: +2 min
The oil titan’s $4.9 billion all-stock deal for Denbury (DEN.N) unveiled on Thursday provides a financially and strategically judicious way to capture and move carbon dioxide. The $89.75 a share is also lower than where Denbury was trading before Bloomberg reported news of a possible deal in October. Denbury says that 28% of it is “blue oil” that produces negative scope 3 emissions. Showcasing an evolving mindset while helping extract more oil is just the pale green hue that suits Exxon. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Darren Woods, Denbury, Robert Cyran, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, Exxon Mobil, Exxon, Denbury, Bloomberg, Twitter, Thomson
☆ Shelved port deal will test Temasek’s private push
  + stars: | 2023-07-13 | by ( ) www.reuters.com   time to read: +2 min
SINGAPORE, July 13 (Reuters Breakingviews) - Temasek is having a bad weather week. The Singaporean investor’s wholly owned port operator PSA International is shelving plans to sell its 20% stake in CK Hutchison’s (0001.HK) port business, per Bloomberg. PSA was seeking $4 billion for its stake, a touch less than what it paid. This week, Temasek itself reported a 5.2% drop in the net value of its portfolio to $285 billion in the 12 months to the end of March, as public markets remain weak. The world’s 10th-largest sovereign investor has 53% of its portfolio parked in unlisted assets, double the level a decade ago.
Persons: CK Hutchison’s, Li Ka, China's Cosco, Breakingviews, Daga, Una Galani, Thomas Shum Organizations: Reuters, Temasek, CK, Bloomberg, Twitter, Thomson Locations: SINGAPORE, HK, Hong Kong, Singapore, China
☆ Temasek is betting on all its stars aligning
  + stars: | 2023-07-12 | by ( Anshuman Daga | ) www.reuters.com   time to read: +3 min
That’s one consolation Temasek can take from a tricky year. But Temasek’s hopes for a more prosperous year or two ahead rely on matters mostly out of its hands. Reuters Graphics Reuters GraphicsGranted, Temasek had a busy few years propping up the tiny city-state’s companies, like Singapore Airlines (SIAL.SI), after the pandemic hit. Meanwhile, high valuations in the United States, where Temasek has doubled exposure over the past decade, will limit opportunities. But if Temasek wants to start shining more brightly soon, it’ll need all its stars to align.
Persons: That’s, Temasek’s, Chin Yee, There’s, Antony Currie, Pranav Kiran, Thomas Shum Organizations: Reuters, Temasek, Sequoia, Reuters Graphics, Singapore Airlines, Reuters Graphics Finance, SP Group, U.S, Chartered, Thomson Locations: SINGAPORE, Singapore’s, Asia, Japan, China, People’s Republic, Southeast Asia, India, Singapore, United States
☆ Temasek hospital deal channels its Dr Resilience
  + stars: | 2023-04-11 | by ( Anshuman Daga | ) www.reuters.com   time to read: +3 min
SINGAPORE, April 11 (Reuters Breakingviews) - Temasek is picking a good time to focus on health. The sovereign investor is taking control of Indian hospital operator Manipal for $2 billion. Others are on an Indian health drive too. Follow @anshumandaga on TwitterCONTEXT NEWSSingapore’s Temasek will buy an additional 41% stake in Manipal Health Enterprises, the unlisted Indian hospital chain said on April 10. After the deal closes, the Pai family’s Manipal Group will hold about 30% of Manipal Health.
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