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☆ J&J's 2025 drug sales forecast should not be tripping up investors. There's so much else like
▼ + stars: | 2023-04-18 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Johnson & Johnson (JNJ) before-the-bell Tuesday reported a strong first quarter, with sales up more than 5.5% and earnings eking out an annual increase. We're leaning toward the second reason: Management's 2025 Pharmaceutical sales target because J & J's results would have exceeded estimates even without strong vaccine sales. On the post-earning call, management said they see Pharmaceutical sales in 2025 closer to $57 billion than the $60 billion forecast two years ago. While we understand the Street's desire to dig into the 2025 Pharmaceutical sales dynamic, we believe weakness in the stock represents a buying opportunity. That's thanks to increased prices and strong consumer demand, the combination of which speaks to the pricing power of the Johnson & Johnson, soon-to-be Kenvue, brand.

☆ Branson's Virgin Orbit files for bankruptcy, to seek buyer
▼ + stars: | 2023-04-04 | by ( Joey Roulette | ) www.reuters.com time to read: +4 min

Virgin Orbit went public in 2021 through a blank-check deal, raising $255 million less than expected. Spun off from Branson's space tourism firm Virgin Galactic in 2017, Virgin Orbit air-launches rockets from beneath a modified Boeing (BA.N) 747 plane to send satellites into orbit. Virgin Orbit's strategy has been that launching small rockets from a 747 in flight would allow for short-notice launches from anywhere. Virgin Investments, a unit of Virgin Group, will provide $31.6 million in new money to Virgin Orbit through debtor-in-possession financing to fund operations while it looks for a buyer in bankruptcy, the companies said. Virgin Orbit's bankruptcy filing showed its largest creditor as London-based Arqit Ltd, which was owed almost $10 million for services and as a customer deposit.

☆ Monster Energy accuses Red Bull of targeting it with anti-competitive tactics
▼ + stars: | 2023-03-29 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

[1/2] Cans of Monster energy drinks sit on display at a Sainsbury's store in London, Britain, August 30, 2018. REUTERS/Simon DawsonBRUSSELS, March 29 (Reuters) - Energy drinks maker Monster Beverage Corp's (MNST.O) Monster Energy has accused Red Bull of targeting it with anti-competitive practices after Red Bull was raided by European Union antitrust regulators last week. "We are therefore not surprised by the Commission's decision to commence an investigation into Red Bull in multiple Member States under Articles 101 and 102. Red Bull confirmed the EU raids, while declining to comment on Monster Energy's allegations. Any such matter is for the EU Commission and any requests for further information should be directed to them," a Red Bull spokesperson told Reuters.

☆ UK's Ofcom delays BT fibre pricing decision after CEO remarks
▼ + stars: | 2023-03-17 | by ( Paul Sandle | ) www.reuters.com time to read: +3 min

Rivals such as Virgin Media O2 and alternative fibre providers known as altnets are investing billions of pounds to build competing networks. 'SIGNIFICANT CONCERN'But comments made by BT Chief Executive Philip Jansen to the Financial Times - headlined "BT chief warns Openreach fibre push will 'end in tears' for rivals" - caused "significant concern", Ofcom said. Ofcom chief Melanie Dawes said in a letter to Jansen, published on Friday, that the regulator was committed to network competition. "They must question why BT Group is reducing its wholesale charges whilst increasing the prices that consumers pay for broadband," INCA said. BT's earlier wholesale pricing, Equinox, was challenged by altnet CityFibre, but Ofcom decided not to intervene.

"Jamie Dimon knew in 2008 that his billionaire client was a sex trafficker," attorney Mimi Liu told Manhattan U.S. District Judge Jed Rakoff at a hearing late Thursday, referring to the year Epstein was first criminally charged with sex crimes. "If Staley is a rogue employee, why isn't Jamie Dimon?" The lawyer continued: "Staley knew, Dimon knew, JPMorgan Chase knew" about Epstein's criminal conduct. Simon Dawson | Bloomberg | Getty ImagesA lawyer for JPMorgan disputed those arguments, "in particular the point about Jamie Dimon having any specific knowledge." Wexler also said, "Jamie Dimon has no recollection of reviewing the Epstein accounts."

☆ Goldman Sachs says buy Juniper Networks, sees nearly 25% upside for the stock
▼ + stars: | 2023-03-07 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Investors should look beyond near-term headwinds to see the within Juniper Networks ' enterprise business, according to Goldman Sachs. Ng set a price target of $39, which implies an upside of 24.5% from where the stock closed Monday. Simon Dawson | Bloomberg | Getty ImagesInvestors should look beyond near-term headwinds to see the within Juniper Networks ' enterprise business, according to Goldman Sachs. Ng set a price target of $39, which implies an upside of 24.5% from where the stock closed Monday. Juniper Networks Inc JNPR ANALYST CONSENSUS 21 Ratings Hold 2 Strong Buy 2 Strong Buy 5 Buy 5 Buy 11 Hold 11 Hold 3 Underperform 3 Underperform 0 Sell 0 Sell 42.00 Highest Price Target Upside (14.43%) 35.85 Average Price Target 29.00 Lowest Price Target

[1/2] Traders work on the floor of the London Metal Exchange, in London, Britain September 27, 2018. The world's largest and oldest metals market annulled all nickel trades in March last year after chaotic price action and suspended trading for the first time since 1988. "It does look from the statement that the FCA is not going to look at the cancelled trades," said a regulation lawyer. The LME faces lawsuits from U.S. hedge fund Elliott Associates and Jane Street Global Trading, which are suing the exchange for $456 million and $15.3 million, respectively, for the cancelled nickel trades. "Neither the Bank of England or the FCA have been clear about whether the LME should have cancelled the trades," said Harold de Boer, managing director at investment firm Transtrend.

☆ UK ambulance staff follow nurses in striking over pay
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +2 min

[1/2] Ambulances are parked at the Hollymoor Ambulance Hub of the West Midlands Ambulance Service, operated by the West Midlands Ambulance Service NHS Foundation Trust, in Birmingham, Britain June 5, 2020. Health and Social Care Secretary Steve Barclay said the National Health Service (NHS) would prioritize those with life-threatening needs. "Ambulance workers – and the public – deserve better. An independent pay review body has awarded more than 1 million NHS workers a pay rise of at least 1,400 pounds ($1,704), equating to an increase of at least 4% for most ambulance staff, according to the government. The NHS Confederation, which represents national health service organisations, said the strike risked patient safety.

[1/2] The logo of Deutsche Bank is pictured on an office of the company in London, Britain July 8, 2019. REUTERS/Simon DawsonSummarySummary Companies Wuermeling says banks should not tie their handsSees German banks maintaining capital ratiosFRANKFURT, Nov 23 (Reuters) - German banks should avoid making multi-year promises to their shareholders despite bumper profits this year as the outlook for the economy is worsening, Bundesbank board member Joachim Wuermeling told Reuters. "If you are bound by such promises, even though the environment has changed radically, you get into a very difficult dilemma." Wuermeling said German banks had only modestly raised their payout ratios in their own plans and most should manage to preserve their capital ratios even after taking into account large dividend increases in absolute terms. ($1 = 0.9740 euros)Reporting by Francesco Canepa and Frank Siebelt Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ Bank of England wants more transparency for 'non banks' after gilts turmoil
▼ + stars: | 2022-11-07 | by ( Huw Jones | ) www.reuters.com time to read: +4 min

[1/3] Traders work on the trading floor of Barclays Bank at Canary Wharf in London, Britain December 7, 2018. It shone a light on the less regulated global $200 trillion 'non-bank' sector which is made up of pension funds, insurers and different types of investment funds, and spans borders. The onus for building resilience in the non-bank system sits first and foremost with the firms themselves," Breeden added. Banks and non-banks also need to improve stress-testing for risks, she added. Toks Oyebode, executive director for regulatory affairs at JPMorgan bank, said steps outlined by Breeden and other regulators, such as regarding margining, were timely.

☆ Some Big Tech firms were the top landing spot for recent Goldman Sachs tech departures, and it could be an early sign of the changing tides in the war for talent
▼ + stars: | 2022-10-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

But first, the latest installment in Wall Street's war for tech talent. Big Tech wants its engineers back. In the ongoing war for top engineering talent, Big Tech has landed the latest blow against one of Wall Street's most powerful firms. Read more about the top firms scooping up recent Goldman departures, and how it could be representative of the larger issues Wall Street faces when trying to attract tech talent. Robo-advisor Betterment just launched customized crypto portfolios, the Wall Street Journal reports.

Oil prices rose around 4% on Monday morning. Crude oil storage tanks at the Juaymah Tank Farm in Saudi Aramco's Ras Tanura oil refinery and oil terminal in Ras Tanura, Saudi Arabia, on Monday, Oct. 1, 2018. "A further uptick in trading activity coupled with tightening near-term oil fundamentals could well push oil prices back to $100/bbl," Brennock said in a research note. Storage tanks and oil processing facilities operate beside the Arabian Sea at Saudi Aramco's Ras Tanura oil refinery and terminal in Ras Tanura, Saudi Arabia, on Monday, Oct. 1, 2018. The upcoming OPEC+ meeting in Vienna will result in an oil production cut "of some historic kind", said CIO of Pickering Energy Partners, Dan Pickering.

"There will be impacts, there’s correlations ... some market volatility, and then how it weighs in the global growth picture," said Paul Malloy, head of municipals at Vanguard. The wild swings in the pound have ricocheted across currency markets, where volatility was already climbing. According to the widely watched Deutsche Bank Currency Volatility Index , volatility across currencies on Wednesday hit its highest level since the March 2020 COVID-19- induced market meltdown, jumping more than 20% from levels last week. Closely followed indicators of financial stress remain contained. U.S. stock market volatility as measured by the "fear index," the VIX (.VIX), has also climbed in recent days but remains below its 2022 highs.

☆ Deutsche Bank in $26.3 million shareholder settlement over Epstein, Russian oligarch ties
▼ + stars: | 2022-09-23 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterThe logo of Deutsche Bank is pictured on a company's office in London, Britain July 8, 2019. Sewing has since taking over in 2018 tried to show investors that Deutsche Bank has addressed its internal controls shortfalls. New York's Department of Financial Services fined Deutsche Bank $150 million in July 2020 over its relationships with Epstein and Danske Estonia. Friday's settlement covers Deutsche Bank investors in the United States from March 14, 2017 to Sept. 18, 2020. The case is Karimi v Deutsche Bank AG et al, U.S. District Court, Southern District of New York, No.

☆ Deutsche Bank in $26.3 mln shareholder settlement over Epstein, Russian oligarch ties
▼ + stars: | 2022-09-23 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

☆ BT Group workers announce further strike action over pay dispute
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterLogo of British Telecom (BT) is displayed outside a store in London, Britain, November 15, 2019. REUTERS/Simon Dawson/File PhotoSept 21 (Reuters) - About 40,000 British workers for telecoms company BT Group (BT.L) and its networking arm Openreach will hold a national strike over pay in October, the Communication Workers Union (CWU) said on Wednesday. Members of the union, including BT Group's 999 emergency call handlers, will hold a strike for four days in October: Oct. 6, Oct. 10, Oct. 20 and Oct. 24. The dispute centres on workers opposing the imposition by company of an "incredibly low flat-rate pay rise," the union said. ($1 = 0.8836 pound)Register now for FREE unlimited access to Reuters.com RegisterReporting by Akriti Sharma in Bengaluru; Editing by Chris Reese and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ ‘Unique’ Aramco IPO changes the dynamics of Saudi Arabia’s economy, stock market CEO says
▼ + stars: | 2018-05-02 | by ( Sam Meredith | ) www.cnbc.com time to read: +3 min

"The Saudi Stock Exchange is as excited as everybody else with the listing of Aramco," Khalid Abdullah Al Hussan, CEO of the Saudi Stock Exchange, told CNBC's Hadley Gamble in Riyadh on Wednesday. watch nowThe world's largest initial public offering (IPO) will radically transform the way in which Saudi Arabia's economy operates, according to the chief executive of the Saudi Stock Exchange. So far, Saudi Arabia's Tadawul is the only confirmed listing exchange for state-owned energy giant, Saudi Aramco. "The Saudi Stock Exchange is as excited as everybody else with the listing of Aramco," Khalid Abdullah Al Hussan, CEO of the Saudi Stock Exchange, told CNBC's Hadley Gamble in Riyadh on Wednesday. "It is almost doubling the size of the Saudi market and that is definitely changing our position as far as size ... (And) will change the dynamics of how the Saudi capital market — as well as the economy — operates," he added.

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