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☆ Canadian entrepreneur Lassonde plans to buy blocking stake in Teck's Elk Valley, Globe and Mail reports
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +1 min

April 8 (Reuters) - Canadian entrepreneur Pierre Lassonde is planning to buy a blocking stake in Elk Valley Resources, the steel-making coal unit to be spun off by Teck Resources Ltd (TECKb.TO), the Globe and Mail reported. In an interview with the Canadian newspaper published on Friday, Lassonde expressed his interest in the soon-to-be divested unit of Teck, saying he wanted the company's assets to "remain Canadian." Teck Resources could not be reached immediately for comment. Under terms of a deal offered previously by minority shareholder Nippon Steel, the Elk Valley unit will have an enterprise value of C$11.5 billion. Teck Resources in February said it will receive an 87.5% interest in gross revenue royalty from the steel-making coal business through the transition period.

☆ Northern Ireland police warn of dissident violence ahead of Biden visit -BBC
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +1 min

April 7 (Reuters) - The Police Service of Northern Ireland (PSNI) has warned of the potential for public disorder by dissident republicans over the Easter weekend, days before a visit by U.S. President Joe Biden, the BBC reported on Thursday. The PSNI has made temporary changes to work shifts to put more officers onto frontline duties, he said. The Police warning comes ahead of President Biden's visit next week and after British intelligence agency MI5 increased the threat level from domestic terrorism in Northern Ireland to "severe". There is sporadic violence in Northern Ireland by small groups that has kept the threat level mostly at "severe" since the system was introduced in 2010. Reporting by Rahat Sandhu and Shivani Tanna in Bengaluru; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Three British men being held in Taliban custody in Afghanistan, Sky News reports
▼ + stars: | 2023-04-01 | by ( ) www.reuters.com time to read: 1 min

April 1 (Reuters) - Three British men are being held in Taliban custody in Afghanistan, including so-called "danger tourist" Miles Routledge, Sky News reported on Saturday. The other two men are charity medic Kevin Cornwell and another unidentified UK national who manages a hotel in Kabul, the report said. "We are working hard to secure consular contact with British nationals detained in Afghanistan and we are supporting families," a spokesperson for Britain's Foreign, Commonwealth and Development Office (FCDO) told Reuters in a statement, but did not confirm the details of the British nationals. Routledge has gained fame, and attracted controversy, by travelling to dangerous countries and posting about it online. Reporting by Maria Ponnezhath and Rahat Sandhu in Bengaluru Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Britishvolt deal at risk of collapse over power supply contract - FT
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +1 min

March 31 (Reuters) - Recharge Industries Pty Ltd's attempt to buy the Britishvolt site is at risk of collapsing due to a dispute with administrator EY over a power supply contract signed by the failed battery startup, the Financial Times reported on Friday. Australia-based Recharge Industries and the British accounting firm hit an impasse over payments related to transferring a grid connection contract with the UK's National Grid, the report said, citing people familiar with the matter. EY, Britishvolt and Recharge Industries did not immediately respond to Reuters' requests for comment. Recharge Industries bought Britishvolt's intellectual property for 8.6 million pounds ($10.61 million) last month, but is yet to pay the 9.7 million pounds for the land despite passing of the deadline, the FT report added. ($1 = 0.8108 pounds)Reporting by Rahat Sandhu in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

☆ US Federal Reserve watchdog launches probe of SVB supervision
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

March 28 (Reuters) - The U.S. Federal Reserve's Office of Inspector General (OIG) has launched an independent review of the failure of Silicon Valley Bank (SVB), an OIG spokesperson said on Tuesday. The review, which was launched on March 14, will assess the board's and the Federal Reserve Bank of San Francisco's supervision of the failed lender, the spokesperson told Reuters in a statement. The independent oversight authority plans to complete its investigation within six months, the spokesperson added. The probe was reported earlier by Bloomberg News. Reporting by Rahat Sandhu in Bengaluru and Pete Schroeder; Editing by Leslie Adler and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ Elon Musk puts $20 bln value on Twitter - The Information
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: 1 min

March 25 (Reuters) - Twitter Inc CEO Elon Musk has offered the social-media company's employees stock grants at a valuation of nearly $20 billion, the Information reported on Saturday, citing a person familiar with an email Musk sent to Twitter staff. The reported valuation is less than half of the $44 billion that Musk paid to acquire the social media platform, pointing to a drop in Twitter's value. Twitter did not immediately respond to a Reuters' emailed request for a comment. Musk said in December that Twitter is on track to be "roughly cash flow break-even" in 2023 as top advertisers slashed their spending on the social-media platform after the billionaire' s takeover. Reporting by Rahat Sandhu in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ US mulls more support for banks while giving First Republic time - Bloomberg News
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: +1 min

March 25 (Reuters) - U.S. authorities are considering the expansion of an emergency lending facility that would offer banks more support, in an effort that could give First Republic Bank (FRC.N) more time to shore up its balance sheet, Bloomberg News reported on Saturday. While any changes to the Fed's liquidity offerings would apply to all eligible users, the adjustments could be designed to ensure that First Republic benefits from the changes, Bloomberg said. Representatives for the U.S. Treasury, Federal Deposit Insurance Corporation (FDIC) and First Republic Bank declined to comment. The Federal Reserve did not immediately respond to a Reuters request for a comment. U.S. banks have sought record amounts of emergency liquidity from the Federal Reserve in the past month after the failures of Silicon Valley Bank and Signature Bank.

☆ Magnitude 5.5 earthquake strikes Tarapaca, Chile region
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: 1 min

March 25 (Reuters) - A magnitude 5.5 earthquake struck the Tarapaca region in Chile on Saturday, the European Mediterranean Seismological Centre said. The quake was at a depth of 155 kilometers (96.31 miles) below the earth's surface. Reporting by Rahat Sandhu in Bengaluru, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

☆ US mulls more support for banks while giving First Republic time, Bloomberg reports
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +1 min

March 25 (Reuters) - U.S. authorities are considering the expansion of an emergency lending facility that would offer banks more support, in an effort that could give First Republic Bank (FRC.N) more time to shore up its balance sheet, Bloomberg News reported on Saturday. All deliberations are at an early stage and an expansion of the Federal Reserve's emergency lending program is one of the many considerations by officials to support the failing lender, the report said, citing people with knowledge of the situation. While any changes to the Fed's liquidity offerings would apply to all eligible users, the adjustments could be designed to ensure that First Republic benefits from the changes, Bloomberg said. First Republic and representatives for U.S. Treasury and Fed did not immediately respond to Reuters' request for a comment. Reporting by Rahat Sandhu in Bengaluru Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ Abu Dhabi's G42 acquires $100 mln ByteDance stake at $220 bln valuation - Bloomberg News
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: 1 min

March 14 (Reuters) - Abu Dhabi-based artificial intelligence firm G42 acquired a $100 million plus stake in Tiktok-parent ByteDance, valuing the company at $220 billion, Bloomberg News reported late on Wednesday, citing people with knowledge of the matter. Reporting by Rahat Sandhu in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Pfizer in talks to buy cancer drugmaker Seagen - WSJ
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

Feb 27 (Reuters) - Pfizer Inc (PFE.N) is in early-stage talks to acquire cancer drugmaker Seagen Inc (SGEN.O) in a potential multi-billion dollar deal, the Wall Street Journal reported, after advanced discussions between Merck (MRK.N) and Seagen fell through last year. Seagen had a market capitalization of roughly $30 billion, as of Friday's close. Its shares have fallen nearly 10% since July, when the deal talks with Merck were first reported. Pfizer declined to comment on the WSJ report, while Seagen did not immediately respond to a Reuters request for comment. Merck, which bought ADC-maker Imago BioSciences for $1.35 billion in November, is unlikely to show renewed interest in Seagen, analysts said.

☆ Pfizer in talks to buy Seagen for likely for more than $30 bln - WSJ
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: 1 min

Feb 26 (Reuters) - Pfizer Inc (PFE.N) is in early talks to acquire drugmaker Seagen Inc (SGEN.O), the Wall Street Journal reported late on Sunday, citing people familiar with the matter. Seagen has a market value of some $30 billion and would be expected to command a premium over that, the report said, adding that the deal talks are in preliminary stages. Pfizer declined to comment on the report, while Seagen did not immediately respond to Reuters request for a comment. Seagen was in advanced talks last year to be acquired by Merck (MRK.N), in a deal that would have been worth $40 billion or more, the Journal reported at the time, but the two sides failed to reach agreement. Reporting by Rahat Sandhu in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ Koch-backed group AFP ready to back new Republican candidate
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +2 min

The group, Americans for Prosperity (AFP), has not previously supported candidates in presidential elections but said in the memo the best thing for the country would be to have a president in 2025 who "represents a new chapter." "The Republican Party is nominating bad candidates who are advocating for things that go against core American principles. This means the country is in a downward spiral, with both parties reinforcing the bad behavior of theother." Former president Trump is so far the only announced Republican candidate, although former South Carolina Governor Nikki Haley is expected to kick off her campaign for the nomination this month. Reporting by Rahat Sandhu in Bengaluru; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Spotify to cut staff as soon as this week - Bloomberg News
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +1 min

Jan 22 (Reuters) - Spotify Technology (SPOT.N) is planning layoffs as soon as this week to cut costs, Bloomberg News reported on Sunday, joining the likes of Alphabet Inc (GOOGL.O), Amazon.com Inc (AMZN.O), Microsoft Corp (MSFT.O) who have cut thousands of jobs recently. The report, which cited sources, said that the number of jobs being eliminated was not specified. In the last few weeks, Google parent Alphabet said it would eliminate 12,000 jobs, while Microsoft said it would eliminate 10,000. Other tech companies like Facebook-parent Meta and Elon Musk's Twitter laid off thousands late last year. Reporting by Rahat Sandhu in Bengaluru; Editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

☆ Amazon to hike prices of some music subscription plans from Feb
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +1 min

Jan 19 (Reuters) - E-commerce giant Amazon.com Inc (AMZN.O) said on Thursday it will increase the prices of some of its music subscription plans from February. The price of Amazon Music's 'Unlimited Individual Plan' will go up by $1 to $10.99 per month, while its 'Unlimited Individual Student Plan' will go up to $5.99 from $4.99 per month, according to the company's FAQ page. Amazon raised its music streaming service's price for Amazon Prime members in May last year, according to a Verge report. The company raised the price of its annual U.S. Prime subscriptions by 17% in February last year, looking to offset higher costs for shipping and wages. It subsequently raised prices in Europe in July.

Companies Apple Inc FollowMasimo Corp FollowJan 10 (Reuters) - A U.S. judge ruled that Apple (AAPL.O) had infringed on one of Masimo Corp's (MASI.O) pulse oximeter patents by importing and selling certain Apple Watches with light-based pulse oximetry functionality and components, Masimo said on Tuesday. The United States International Trade Commission (USITC) will now consider whether to implement an import ban on these Apple Watches, the medical device maker said. Reporting by Rahat Sandhu and Shivani Tanna in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ Oil tanker groups Frontline and Euronav scrap $4.2 billion merger
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

Jan 9 (Reuters) - Oil tanker company Frontline (FRO.OL) said on Monday a $4.2 billion deal to merge with rival Euronav NV (EUAV.BR) was terminated, a combination which would have created the world's largest publicly listed tanker company. Frontline will not make a voluntary conditional exchange offer for Belgian oil tanker and storage operator Euronav's shares and will no longer seek a listing on Euronext Brussels, it said in a statement. "We regret that we could not complete the merger as envisaged in July 2022, as that would have created the by far largest publicly listed tanker company," Chief Executive Lars Barstad said. The two companies announced the deal last year, aiming to create a market-leading oil tanker group with 146 vessels. However, since the announcement of the planned merger, Euronav had clashed with its biggest shareholder Compagnie Maritime Belge (CMB), which sought to block it.

☆ FDA allows abortion pills to be sold at retail pharmacies, say two drugmakers
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 3 (Reuters) - Retail pharmacies will now be allowed to offer abortion pills in the United States under a regulatory change made by the Food and Drug Administration on Tuesday, the two companies that make the pills said on Tuesday. Pharmacies can apply for certification to distribute mifepristone with the drugmakers and if successful will be able to dispense it directly to patients upon receiving a prescription from a certified prescriber, said Danco Laboratories, one of two companies that make mifepristone. The announcement will not provide equal access to all people, however, GenBioPro, which makes the generic version of mifepristone, said in a statement. Retail pharmacies will have to weigh whether or not to offer the pill and determine where they can do so. Reporting by Eric Beech and Ahmed Aboulenein in Washington, Shivani Tanna and Rahat Sandhu in Bengaluru; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ Indian tycoon Adani says Adani Group is financially strong- India Today
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +1 min

Dec 29 (Reuters) - Indian billionaire Gautam Adani said his conglomerate Adani Group is "financially very strong and secure," while addressing concerns about the company's debt, in an interview to news channel India Today on Wednesday. Adani said that people raising "noises" about Adani Group's debt have not done a deep dive into its financials and also have a "vested interest" to tarnish the reputation of the group. The tycoon recently took a major shareholding control in New Delhi Television Ltd (NDTV.NS) through his media entity AMG Media Network, raising fears that the media company might lose its editorial independence. Adani said, "NDTV will be a credible, independent, global network" with clear boundaries between management and editorial. Reporting by Rahat Sandhu and Akanksha Khushi in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Chinese ambassador says Ukraine crisis has hurt relations with EU -report
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +1 min

Dec 23 (Reuters) - Russia's invasion of Ukraine has put China in a "very difficult position" for its bilateral relations with the European Union, Fu Cong, the Chinese ambassador to the EU, was quoted as saying in an interview with the South China Morning Post published on Friday. Fu said one of his priorities in the new role was to "depoliticise" EU-China relations, SCMP reported. He said that China was not benefiting from the war, and did not have any interest in prolonging the conflict, the newspaper said. Fu added that China's position was "quite balanced" and that the country is ready to engage in peaceful efforts, the Morning Post said. European Council President Charles Michel urged Chinese President Xi Jinping to use the country's "influence" on Russia over its war in Ukraine during a visit to Beijing earlier this month.

☆ Turkey's MNG Airlines to go public on NYSE
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

Dec 7 (Reuters) - Turkey's MNG Airlines will list on the New York Stock Exchange through a merger with Golden Falcon Acquisition Corp (GFX.N), a special purpose acquisition company (SPAC), the Turkish cargo carrier said on Wednesday. The merger has a pro-forma enterprise value of $676 million, and has been approved by the boards of both the companies, MNG said in a statement. Golden Acquisition Corp, which went public in 2020, is headed by Chief Executive Officer Makram Azar, a former Barclays banker, and counts Xavier Rolet, a former London Stock Exchange CEO, as an independent director. Istanbul-based MNG Airlines started operations in 1996, and serves corporate customers across 41 countries with more than 3,500 flights per year. Reporting by Rahat Sandhu in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ Crypto exchange Bitfront shuts down
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

Nov 28 (Reuters) - Bitfront, a U.S. crypto exchange backed by Japanese social media firm Line Corp, said it has suspended new sign-ups and credit card payments and will cease operations in a few months despite efforts to overcome challenges in the rapidly evolving industry. Bitfront said the move is unrelated to recent issues among certain crypto exchanges that have been accused of "misconduct". FTX, which was among the world's largest cryptocurrency exchanges, is now the subject of investigations by authorities for "criminal misconduct". Bitfront said it has suspended new sign-ups and credit card payments as of Nov. 28, and will suspend withdrawals on March 31, 2023. The company clarified that interest for deposits made between Dec. 5 and Dec. 11 will be paid out on Dec. 13, 2022.

☆ Germany's Brenntag in takeover talks with U.S. rival Univar
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

Nov 25 (Reuters) - Brenntag SE (BNRGn.DE) said on Friday it held preliminary discussions with U.S. rival Univar Solutions Inc (UNVR.N) regarding a potential acquisition, as the German chemicals distributor seeks to expand its footprint in the United States. In a statement on Friday, Brenntag said the discussions were ongoing and that it was not foreseeable whether there will be any kind of transaction. Brenntag said earlier it plans to double its annual spending for mergers and acquisitions to 400 million to 500 million euros ($400 million-$500 million) as part of a strategic growth plan. Univar confirmed a preliminary indication of interest from Brenntag regarding the transaction in a statement late on Friday, without giving additional details. A plunge in Russian gas exports after Russia's invasion of Ukraine has sparked a continent-wide energy crisis, leading to soaring energy prices.

☆ Drug maker Novo Nordisk invests $744 mln to expand Danish plant
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

COPENHAGEN, Nov 22 (Reuters) - Danish drug maker Novo Nordisk (NOVOb.CO) said on Tuesday it plans to invest 5.4 billion Danish crowns ($744.09 million) to expand its existing facilities in Bagsvaerd, Denmark. Novo, the world's biggest producer of diabetes drugs, said the project is expected to be finalised in 2024 and create about 160 new jobs. "This investment in expanding our clinical API capacity in Bagsvaerd is an important step to ensure the continuous progress of our development pipeline," said senior vice president of Chemistry, Manufacturing and Control Development at Novo Nordisk, Jesper Boving. Novo Nordisk currently produces API at two facilities in Denmark and one in Clayton in the United States, a spokesperson told Reuters. ($1 = 7.2572 Danish crowns)Reporting by Rahat Sandhu and Stine Jacobsen, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

☆ Danish drug maker Novo Nordisk to invest $744 mln to expand facilities in Bagsvaerd
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: 1 min

Nov 22 (Reuters) - Danish drug maker Novo Nordisk (NOVOb.CO) announced on Tuesday it planned to invest 5.4 billion Danish crowns ($744.09 million) to expand its existing facilities in Bagsvaerd. The investment project is expected to be finalised in 2024 and create about 160 new jobs, the company said in a statement. ($1 = 7.2572 Danish crowns)Reporting by Rahat SandhuOur Standards: The Thomson Reuters Trust Principles.

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