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☆ Voice of America Will Get a New Director
▼ + stars: | 2024-04-19 | by ( Katie Robertson | More About Katie Robertson | ) www.nytimes.com time to read: +1 min

Michael Abramowitz will be the next director of the federally funded broadcaster Voice of America, its parent, the U.S. Agency for Global Media, announced on Friday. Mr. Abramowitz, 60, is currently the president of Freedom House, a pro-democracy nonprofit organization, a role he has held since 2017. Voice of America, which was founded in 1942, aims to offer unbiased news to audiences around the world. “These countries are waging ferocious information warfare aimed at undermining democracies, aimed at undermining the United States, and we need to fight back,” Mr. Abramowitz said in an interview. is one very important tool for the United States government in this information war.”

Persons: Michael Abramowitz, Mr, Abramowitz, ” Mr, “, ” Organizations: of America, U.S . Agency for Global Media, Freedom, U.S . Holocaust Memorial Museum, The Washington Post . Voice of America, United Locations: U.S, China, Russia, Iran, United States

The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland January 30, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsZURICH, Dec 4 (Reuters) - Roche (ROG.S) agreed to take over obesity drug developer Carmot Therapeutics (CRMO.O) for $2.7 billion, joining a list global contestants seeking to challenge the dominant makers of weight-loss drugs Novo Nordisk (NOVOb.CO) and Eli Lilly. After encouraging Phase I trial results, the drug is ready to be tested on humans in the second of three trial stages, Roche added. Among recent deals to acquire obesity drug development projects, AstraZeneca (AZN.L) last month agreed to pay up to $2 billion for the rights to an experimental pill from China's Eccogene. Roche will obtain access to Carmot's current R&D portfolio including all clinical and preclinical assets.

Persons: drugmaker Roche, Arnd, ROG.S, Eli Lilly, Swiss drugmaker, Roche, . New Roche, Thomas Schinecker, Ludwig Burger, Noel Illien, Rachel More, Louise Heavens Organizations: REUTERS, Rights, Carmot Therapeutics, Novo Nordisk, AstraZeneca, Pfizer, Thomson Locations: Basel, Switzerland, Swiss, ., Alzheimer's

☆ EV maker Canoo slashes spending for second half of 2023, forecasts smaller loss
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

A view shows the Canoo logo on a Canoo LV (Lifestyle Vehicle) electric vehicle outside a manufacturing site in Livonia, Michigan, U.S. November 29, 2022. The EV maker expects capital expenditure of $30 million to $40 million in the second half of 2023, compared with its prior forecast range of $70 million to $100 million. Canoo projects core loss to be between $85 million and $105 million for the second half, versus its previous range of $120 million to $140 million. Adjusted loss per share was 6 cents, compared with LSEG estimates of a 12-cent loss. Its cash and cash equivalents were $8.3 million as of Sept. 30, compared with $5 million in the preceding three months.

Persons: Rebecca Cook, Canoo, Tony Aquila, EVs, Aquila, Samrhitha, Shilpi Majumdar Organizations: REUTERS, Ford, General Motors, U.S . Defense Department, Walmart, NASA, Thomson Locations: Livonia , Michigan, U.S, Oklahoma, Bengaluru

☆ Vince Clarke, a Synth-Pop Mastermind, on His Unexpected Solo Album
▼ + stars: | 2023-11-14 | by ( Rob Tannenbaum | ) www.nytimes.com time to read: +1 min

So they moved to Basildon, one of many “new towns” Britain built quickly to create new housing — in some cases, too quickly. “Cracks would start appearing in walls, and they’d have to flatten the houses and start again,” he said. It was naff.”Musically, his first love was Simon & Garfunkel, after he discovered he could play their songs on a guitar. “The early electronic musicians weren’t. They played weekly at a Basildon disco, “but we only had eight songs, so the set was pretty short,” he recalled.

Persons: Clarke’s, ”, Vince, Simon, Garfunkel, “ Locations: London, Germany, Basildon, Britain

☆ F5 forecasts weak annual revenue on sluggish IT spending
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

Oct 24 (Reuters) - Cybersecurity and cloud services company F5 (FFIV.O) on Tuesday forecast fiscal 2024 revenue below Wall Street estimates, signaling that businesses were tightening tech spending amid an uncertain economic outlook. The company has transitioned to a model that prioritizes software and subscription services but sluggish IT spending has proved a roadblock. F5 forecast full-year revenue would range from flat to a low-single-digit percentage decline, compared with fiscal 2023. For the first quarter, it forecast revenue in the range of $675 million to $695 million, slightly below estimates of $695.8 million. The company, which provides software and hardware that supports applications over the internet, said its quarterly revenue grew 1% to $707 million, compared with estimates of $701.4 million.

Persons: Zaheer Kachwala, Devika Organizations: Wall, Big, Accenture, Thomson Locations: Bengaluru

New Roche CEO Thomas Schinecker is keen to restore Roche's battered drug development record after major late-stage trial setbacks in the areas of Alzheimer's and cancer immunotherapy last year. The acquired drug, against inflammatory bowel disease such as ulcerative colitis and Crohn's disease, belongs to a class of new treatments known as anti-TL1A antibodies which has attracted major deal activity in the pharma industry. Merck & Co (MRK.N) in April agreed to buy anti-TL1A antibody developer Prometheus Biosciences for $10.8 billion. Inflammatory bowel disease is a group of chronic gastrointestinal disorders with almost 8 million people diagnosed worldwide and 80% of all individuals not experiencing lasting remission, Roche said. "We strongly believe this novel TL1A directed antibody has the transformational potential to make a significant difference for patients living with inflammatory bowel disease and potentially other diseases," said Roche CEO Schinecker.

Persons: drugmaker Roche, Arnd, New Roche, Thomas Schinecker, Schinecker, Roche, John Revill, Ludwig Burger, Friederike Heine, Jason Neely Organizations: REUTERS, Roivant Holdings, Pfizer Inc, pharma, Sanofi, Merck & Co, Prometheus Biosciences, Thomson Locations: Basel, Switzerland, ZURICH, FRANKFURT, Swiss, U.S, Japan, Zurich, Frankfurt

☆ Roche's $7 bln deal is pricey and partial cure
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

Roche tablets are seen positioned in front of a displayed Roche logo in this photo illustration shot January 22, 2016. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Oct 23 (Reuters Breakingviews) - Roche (ROG.S) has taken a small step towards curing its drug pipeline problem. JPMorgan analysts estimate that the drug’s U.S. sales could peak at 2.4 billion Swiss francs ($2.7 billion), but will take until 2037 to get there, assuming a 2028 launch. Analysts expect Roche’s pharmaceutical division to generate revenue of almost 45 billion Swiss francs this year, according to estimates compiled by LSEG. With expected free cash flow of around 16 billion Swiss francs this year and next, Roche can afford to buy a little more diversification.

Persons: Roche, Dado Ruvic, Thomas Schinecker, Peter Thal Larsen, Jean, Pierre Mustier, Atos, Jonathan Guilford, Aditya Sriwatsav Organizations: REUTERS, Reuters, Pfizer, U.S, New, JPMorgan, Merck, Prometheus Biosciences, Analysts, LSEG, X, News Corp, Thomson Locations: Swiss, U.S

☆ Opinion: We could be witnessing the Republican Party break apart in real time
▼ + stars: | 2023-10-23 | by ( Thomas Balcerski | ) edition.cnn.com time to read: +7 min

Historically, political realignment has occurred when groups of voters change their affiliation to a new political party or candidate, especially around presidential and midterm elections. Yet the period between 1852 and 1860 is crucial here, for it saw the last time a major political party collapsed (the Whig Party in 1854) and the dissolution of another political party (the Democratic Party in 1860). The 1924 Democratic Party famously went through 103 ballots before agreeing on a compromise candidate, John W. Davis of West Virginia. Of course, party realignment is a tricky thing since we only come to know that it has happened in hindsight. A failure to reach a majority consensus signals the doom of an American political party.

Persons: Thomas Balcerski, James Buchanan, William Rufus King ”, Hakeem Jeffries, Patrick McHenry, let’s, V.O, Abraham Lincoln’s, Franklin D, Thomas Jefferson, John Adams, Andrew Jackson, Daniel Webster, Henry Clay, Lincoln, William Henry Seward, William L, Yancey, Stephen Douglas of, John C, Breckinridge, Theodore Roosevelt, Moose, Republican William Howard Taft, Woodrow Wilson, John W, Davis of, Hubert H, Humphrey, Republican Richard Nixon, “ Organizations: Eastern Connecticut State University, Oxford University Press, CNN, Republican Party, Democratic Party, Whig Party, Whigs, Republican Party . Southern Whigs, American Party, Democrats, Whig, Union, Democratic, Southern, Lincoln, splintering, Republican, GOP Locations: United States, Northern, Southern, Kansas, Nebraska, Charleston , South Carolina, Alabama, Baltimore, Stephen Douglas of Illinois, Kentucky, Davis of West Virginia, Vietnam, American

Striking United Auto Workers (UAW) members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan U.S. September 29, 2023. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsOct 4 (Reuters) - Exchange-traded funds tracking automakers saw net outflows last month on worries over the United Auto Workers' (UAW) strike against the "Detroit Three" and higher interest rates. Production at General Motors (GM.N), Ford (F.N) and Chrysler parent Stellantis (STLAM.MI) have taken a beating as the UAW strike headed into the 20th day. "The redemption of ~20% of the (First Trust) ETF's net assets in mid-September could have been related to the UAW strike, although it's tough to say with certainty." The $1.02 billion Direxion Daily TSLA Bull 1.5X Shares ETF (TSLL.O) saw its first month of outflows in four.

Persons: Rebecca Cook, Bryan Armour, that's, Todd Sohn, Bansari Mayur, Anil D'Silva Organizations: United Auto Workers, UAW, General Motors Lansing Delta Plant, Michigan U.S, REUTERS, Exchange, United Auto Workers ', General Motors, Ford, Chrysler, Nasdaq Transportation, North America, Morningstar, JPMorgan, GM, X Autonomous & Electric Vehicles, Trust, Global, Strategas Securities, Thomson Locations: Delta Township, Michigan, Bengaluru

Sept 26 (Reuters) - Shares of Immunovant (IMVT.O) surged nearly 80% on Tuesday, after early-stage data from its experimental antibody treatment exceeded analysts' expectations. Immunovant is developing its antibody drug, IMVT-1402, as an under-the-skin injection to potentially treat autoimmune diseases. Immunovant's experimental drug reduced the levels of IgG, or immunoglobulin antibodies, that cause inflammation and disease in healthy adults. Shares of Roivant Sciences (ROIV.O), Immunovant's largest shareholder with a 56.5% stake, according to LSEG data, also rose 17.5% to $12. The positive data from IMVT-1402 could give Roivant another "potentially blockbuster" candidate to transact, after its experimental treatment for bowel disease, Jefferies analyst Dennis Ding said.

Persons: J.P, Morgan, Brian Cheng, drugmakers Johnson, Johnson, Hytrulo, Immunovant, transact, Jefferies, Dennis Ding, Bhanvi, Krishna Chandra Organizations: UCB, Roivant Sciences, Thomson Locations: United States, York, IMVT, Bengaluru

☆ EV startup Canoo names board member Greg Ethridge as CFO
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +1 min

Companies Canoo Inc FollowWalmart Inc FollowAug 28 (Reuters) - Electric-vehicle startup Canoo (GOEV.O) on Monday named board member Greg Ethridge as its chief financial officer, succeeding Ken Manget. The company, whose shares have fallen 57% so far this year, said this move was effective immediately. Ethridge has agreed to resign from Canoo's board of directors, a position he has held since 2020, by the end of the year. Canoo has contracts with the U.S. Defense Department for supply of advanced battery packs, Walmart (WMT.N) and National Aeronautics and Space Administration (NASA) for supplying electric vehicles. Reporting by Jaspreet Singh in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Greg Ethridge, Ken Manget, Ethridge, Manget, Canoo, Jaspreet Singh, Shilpi Majumdar Organizations: Walmart, U.S . Defense Department, National Aeronautics and Space Administration, NASA, Thomson Locations: Bengaluru

Online, the Defense Ministry published a splashy video ad focusing on two central motivations: machismo, and money. It defines military service as more meaningful — and manly — than what’s depicted as the Russian man’s typical, humdrum existence. Since the invasion’s beginning, state television newscasts have been offering viewers a sanitized view of the war. “I got all the payments that contract servicemen are entitled to if they’re wounded,” the veteran, Nikolai Karpenko, says. “Contract military service, Nikolai says, gave him the chance to show that he’s a real defender of the fatherland,” the reporter intones.

Persons: “, Nikolai Karpenko, Nikolai, intones Organizations: Defense Ministry, Russian Defense Locations: Russian, Irkutsk, Siberia, Ukraine

☆ Factbox: Who is Vivek Ramaswamy, Republican presidential hopeful?
▼ + stars: | 2023-08-23 | by ( Tim Reid | ) www.reuters.com time to read: +3 min

Aug 23 (Reuters) - Vivek Ramaswamy, a multimillionaire former biotech executive, has a chance to build on the attention he has been getting in the race for the 2024 Republican presidential nomination at Wednesday night's debate. Ramaswamy says he voted for a libertarian in the 2004 presidential election, but did not vote in 2008, 2012 or 2016. The book raised Ramaswamy's profile among conservatives, and he began his rapid ascension as a right-wing star. REPUBLICAN PRESIDENTIAL CAMPAIGNRamaswamy declared his campaign for president in February, at a time when his bid looked like a long shot. Although a Hindu, Ramaswamy has been telling voters that the U.S. is based on "Christian values" and "Judeo-Christian values" and has described himself as an American nationalist.

Persons: Vivek Ramaswamy, Ramaswamy, Donald Trump, Ron DeSantis, Trump, Tim Reid, Ross Colvin, Andy Sullivan Organizations: MIDWEST Ramaswamy, Harvard University, Yale Law School, Yale, Roivant Sciences, Forbes, Harvard, Republican, Democratic, Inc, REPUBLICAN, FBI, Department of Education, Service, Ukraine, Thomson Locations: Ohio, India, Iowa, Florida, American, Kiev, Russia, Ukraine

☆ Canoo finalizes incentive package with Oklahoma, Cherokee Nation
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

A view shows a Canoo LTV (Light Tactical Vehicle) electric vehicle, produced for the U.S. Army, at a manufacturing site in Livonia, Michigan, U.S. November 29, 2022. REUTERS/Rebecca Cook/File PhotoAug 14 (Reuters) - Electric-vehicle startup Canoo (GOEV.O) said on Monday it finalized incentive agreements with the state of Oklahoma and the North American tribe Cherokee Nation, for an estimated value of $113 million over 10 years. As part of the agreements, Canoo said it has already started hiring for its vehicle assembly facility in Oklahoma City and the battery manufacturing factory in Pryor. Canoo, which will invest more than $320 million at both its facilities in the state, had entered into a long-term lease agreement for the vehicle manufacturing facility in Oklahoma City earlier this year. Reporting by Tanya Jain and Akash Sriram in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Rebecca Cook, Canoo, Tanya Jain, Akash Sriram, Krishna Chandra Organizations: LTV, U.S . Army, REUTERS, Cherokee, Department of Commerce, Thomson Locations: Livonia , Michigan, U.S, Oklahoma, Oklahoma City, Pryor ., Bengaluru

☆ EV maker Canoo posts smaller-than-expected loss on lower costs
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

A view shows a Canoo LDV (Lifestyle Delivery Van) electric vehicle in a manufacturing site in Livonia, Michigan, U.S. November 29, 2022. REUTERS/Rebecca Cook/File PhotoAug 14 (Reuters) - Electric-vehicle maker Canoo (GOEV.O) posted a smaller-than-expected quarterly loss on Monday on lower research and development costs, sending its shares up 2% in extended trading. The company also unveiled its new lifestyle delivery vehicle 190, that has increased payload load capacity and body length compared with the original lifestyle delivery vehicle 130. Canoo's loss narrowed to $70.9 million in the second quarter from $164.4 million a year earlier. Research and development costs fell about 67% in the quarter, lowering operating expenses to $73.6 million from $173.5 million a year earlier.

Persons: Rebecca Cook, Canoo, Tony Aquila, Zaheer Kachwala, Shounak Dasgupta Organizations: REUTERS, Research, EV, U.S Defense Department, Walmart, National Aeronautics and Space Administration, NASA, Department of Defense, Thomson Locations: Livonia , Michigan, U.S, Bengaluru

REUTERS/Jonathan Ernst/File PhotoCompanies Canoo Inc FollowNikola Corp FollowAug 4 (Reuters) - The U.S. Securities and Exchange Commission fined electric vehicle company Canoo Inc $1.5 million on Friday for what the regulator alleges were reporting failures related to hundreds of millions of dollars of unreasonable revenue projections. In the run-up to the deal, Canoo (GOEV.O) had projected revenue of $120 million in 2021 and $250 million in 2022 based on deals to provide engineering services to other companies. In March 2021, the carmaker's stock tumbled 21% after it announced it would not achieve the anticipated revenue, the SEC said in court papers. The SEC said Kranz and Balciunas knew before the merger that the projects were unlikely to generate revenue. Canoo said in May it had tentatively agreed to pay a $1.5 million penalty to settle with the SEC.

Persons: Jonathan Ernst, Canoo, Ulrich Kranz, Paul Balciunas, Kranz, Balciunas, Daniel Wachtell, Nikola, Jody Godoy, Jonathan Oatis, Nick Macfie, Deepa Babington, David Gregorio Our Organizations: U.S . Securities, Exchange, SEC, REUTERS, Nikola, Exchange Commission, DraftKings Inc, Thomson Locations: Washington, Texas, New York

☆ F5 results beat estimates as client spending on cloud applications rise
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

July 24 (Reuters) - F5 (FFIV.O) beat third-quarter revenue and profit estimates on Monday, benefiting from higher customer spending on its cloud-related technology, sending its shares up nearly 9% after the bell. After a cut back in expenses related to software and hardware for several quarters, analysts say companies are now slowly increasing their spending in certain areas. F5's revenue and profit forecasts for the fourth quarter were largely in line with estimates. It expects revenue in the range $690 million to $710 million. Per share earnings are seen in the range $3.15 to $3.27, compared to the estimate of $3.22.

Persons: François, Donou, Refinitiv, Zaheer Kachwala, Yuvraj Malik, Pooja Desai Organizations: Thomson

☆ U.S. to announce $1.3 bln in military aid for Ukraine -sources
▼ + stars: | 2023-07-18 | by ( Mike Stone | ) www.reuters.com time to read: +2 min

WASHINGTON, July 18 (Reuters) - The United States will announce a new pledge to buy $1.3 billion worth of military aid for Kyiv in its conflict with Russia in the coming days, two U.S. officials said. The previously unreported weapons package includes air defenses, counter-drone systems, exploding drones and ammunition, one of the U.S. officials said. The United States is using funds in its Ukraine Security Assistance Initiative (USAI) program, which allow President Joe Biden's administration to buy weapons from industry rather than pull from U.S. weapons stocks. The Pentagon has provided more than $10.8 billion in security assistance for Ukraine under the USAI in fiscal 2023, in seven separate tranches. Reporting by Mike Stone in Washington Editing by Don Durfee and Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden's, AVEVEX, Australia's DroneShield, Washington, Mike Stone, Don Durfee, Angus MacSwan Organizations: Kyiv, Ukraine Security Assistance Initiative, L3Harris Technologies, AeroVironment Inc, U.S . Department, Ukraine Defense Contact, Pentagon, Thomson Locations: United, Russia, United States, Ukraine, U.S, Kyiv, California, Washington

☆ Roivant in talks to sell bowel disease drug to Roche in over $7 bln deal - WSJ
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

July 13 (Reuters) - Biotech company Roivant Sciences (ROIV.O) is nearing a deal to sell an experimental drug to treat inflammatory bowel diseases including ulcerative colitis and Crohn's disease to Roche (ROG.S) in a deal that could be valued at more than $7 billion, the Wall Street Journal reported on Thursday. The sale of the drug could be announced in the coming days, the report said, citing people familiar with the matter. Roivant's experimental drug, RVT-3101, is under clinical trials for the treatment of moderate-to-severe ulcerative colitis, a long-term condition where the colon and rectum become inflamed, as well as a type of inflammatory bowel disease known as Crohn's disease. Roivant declined to comment, whereas Roche did not immediately respond to a Reuters request for comment. Reporting by Shivani Tanna and Sriparna Roy in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Roche, Roivant, Shivani Tanna, Sriparna Roy, Shailesh Organizations: - Biotech, Roivant Sciences, Wall Street, Thomson Locations: Bengaluru

☆ Universal Says On-Demand Film Strategy Has Increased Audience
▼ + stars: | 2023-06-07 | by ( Brooks Barnes | ) www.nytimes.com time to read: +1 min

But the willingness by Universal to experiment — to challenge the “this is how we’ve always done it” thinking — seems to have paid off. Universal has generated more than $1 billion in premium V.O.D. revenue in less than three years, while showing little-to-no decrease in ticket sales. In some cases, box-office sales even increased when films became available in homes, which Universal has decided is a side effect of premium V.O.D. Universal, for instance, made “Minions: The Rise of Gru” available for premium V.O.D.

Persons: “, ”, — Organizations: Universal Pictures, Dominion, ”, Filmmakers, Universal Locations: Belfast

☆ Common Consumer Products Contain Multiple Toxic Chemicals, New Study Shows
▼ + stars: | 2023-05-03 | by ( Dana G. Smith | More About Dana G. Smith | ) www.nytimes.com time to read: +1 min

More than 100 types of common consumer products contain at least one, and often multiple, chemicals linked to cancer or reproductive and developmental problems, according to research published Tuesday in the journal Environmental Science & Technology. Many of the chemicals were found in personal care products, including nail polish, shampoo, lotion and soap. Cleaning products, particularly all-purpose cleaners, laundry detergent and dish soap, also contained numerous chemicals. To compile the list of potentially hazardous products, researchers from the Silent Spring Institute and the University of California, Berkeley, cross-referenced two databases maintained by the state of California. The second was a list of chemicals flagged as being carcinogens or reproductive and developmental toxicants by Proposition 65, California’s Safe Drinking Water and Toxic Enforcement Act.

Organizations: Science, Technology, Silent Spring Institute, University of California, California Air Resources Locations: Berkeley, California

☆ Software firm F5 to lay off 9% staff, trims fiscal revenue guidance
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

April 19 (Reuters) - Cloud and security services firm F5 Inc (FFIV.O) said on Wednesday it was reducing its workforce by 9% and cutting bonuses of senior executives to bring down costs. The technology industry has seen a wave of layoffs over the past few months as it grapples with slowing growth following a pandemic-led boom in digital services. F5's downsizing plan, which will affect 623 employees due to job cuts, also includes cutting back spending on office space and executive travel. The Seattle, Washington-based company also lowered its fiscal 2023 revenue growth forecast to "low-to-mid single-digit" from an earlier forecast of 9% to 11% growth, sending its shares down 5% in after-market trading. (This story has been refiled to fix syntax in the headline)Reporting by Yuvraj Malik in Bengaluru; Editing by Shweta AgarwalOur Standards: The Thomson Reuters Trust Principles.

☆ Lack of electric vans opens door for Chinese, other EV makers
▼ + stars: | 2023-04-13 | by ( Nick Carey | ) www.reuters.com time to read: +7 min

[1/3] Tristan Thomas, CEO of Packfleet, demonstrates charging an electric van made by Chinese brand Maxus at the fully-electric package delivery firm's headquarters in London, Britain, October 27, 2022. Packfleet grew tenfold in 2022 and CEO Tristan Thomas said most of the company's 53-vehicle fleet are Maxus vans. SAIC said it sold 18,000 mostly electric Maxus brand vehicles in Western Europe and Scandinavia last year, including buses and pickup trucks. Fleet manager Sean Clifton has 50 additional Ford vans and 20 Maxus vans on order, but will need more soon as Asda electrifies its 1,300 delivery vans. There is no difference in delays for conventional and electric vans at Renault, said commercial vehicle marketing director John Cleworth.

April 11 (Reuters) - A U.S. appeals court handed Moderna Inc (MRNA.O) a win on Tuesday, affirming a decision to cancel an Arbutus Biopharma Corp (ABUS.O) patent related to the companies' legal fight over Moderna's blockbuster COVID-19 vaccines. The U.S. Court of Appeals for the Federal Circuit upheld a U.S. Patent and Trademark Office tribunal's ruling that the patent for Arbutus' lipid nanoparticle (LNP) technology was invalid based on an earlier Arbutus patent that disclosed the same invention. Moderna challenged the patent at the PTO's Patent Trial and Appeal Board in 2018, and the board invalidated it in 2019. Arbutus separately sued Pfizer and BioNTech for patent infringement last week over their COVID-19 shots, in a lawsuit that also does not include the canceled patent. The Federal Circuit case is Arbutus Biopharma Corp v. ModernaTX Inc, U.S. Court of Appeals for the Federal Circuit, No.

☆ Breakingviews: EV double-SPAC provides only weak recharge
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

Electric-van developer Arrival just unveiled a merger with a special-purpose acquisition company, valuing it at $524 million. The twist: It already went public via a blank-check deal in 2021, at a valuation some 10 times higher. Arrival’s fall mirrors other EV hopefuls like Canoo (GOEV.O), Faraday Future Intelligent Electric (FFIE.O) and Lordstown Motors (RIDE.O). Arrival’s latest merger promises $283 million of it from Kensington Capital Acquisition Corp. V’s (KCGI.N) trust account. British startup Wejo (WEJO.O)tried a similar second-SPAC gambit, though it anticipates backing its transaction with private investment.

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