Pfizer, Novartis lead pharma spending spree on gene therapy production
Eleven drugmakers led by Pfizer and Novartis have set aside a combined $2 billion to invest in gene therapy manufacturing since 2018, according to a Reuters analysis, in a drive to better control production of the world’s priciest medicines.
Stock futures tick higher on trade deal hopes; focus on data ahead of Thanksgiving
U.S. stock index futures were slightly higher on Wednesday, as optimism around trade talks continued, while investors waited for crucial domestic economic indicators in a holiday-shortened week.
Deere’s earnings fall on trade tensions, poor weather
Deere & Co. on Wednesday reported lower fourth-quarter earnings, hurt by trade tensions as well as poor weather in the U.S. farm belt that have slowed equipment purchases by farmers.
Gulf state investors step in to help Aramco hit IPO target: sources
Saudi Arabia’s wealthy Gulf neighbors plan to invest in the initial public offering (IPO) of Saudi Aramco, sources familiar with the matter said, helping out Riyadh as it strives to raise $25.6 billion from a domestic listing of the state oil giant.
Deutsche Bank sells $50 billion in assets to Goldman Sachs amid overhaul: source
Deutsche Bank has sold $50 billion (45 billion euros) in unwanted assets to Goldman Sachs as part of its restructuring, a person with knowledge of the matter said on Wednesday, confirming a Bloomberg report.
Beer suds to soap suds: waste alcohol finds use in green detergent
The next time you wash your dishes, you could find yourself up to your elbows in soap suds spiked with leftover alcohol, if the world’s largest brewer and a environmentally friendly detergent firm have their way.
Factbox: From Madison Square Garden to Alibaba, Silver Lake’s $43 billion empire
U.S. private equity firm Silver Lake has bought a 10% stake in Manchester City’s Abu Dhabi-controlled owner, adding to its $43 billion worth of investments which include the world’s best-known sports venues and teams as well as technology companies.
Factbox: Ownership of leading European soccer clubs
The Abu Dhabi-controlled soccer group that owns Manchester City has agreed to sell a $500 million stake to U.S. private equity firm Silver Lake, making it the world’s most valuable soccer group with a $4.8 billion price tag.
Global stocks nearing record highs on trade hopes
World shares made another push for an all-time high on Wednesday after U.S. President Donald Trump said Washington and Beijing were in the final throes of inking an initial trade deal.
BMW management and labor reach agreement to cut costs
BMW management and labor have reached an agreement on measures to reduce costs that avoids “drastic measures”, the German carmaker said on Wednesday.
