AstraZeneca, an Anglo-Swedish pharmaceutical company, announced on Tuesday that it will acquire Canadian drug researcher Fusion Pharmaceuticals Inc. for $2 billion in cash as part of its bet on cancer medicines of the future. With this acquisition, AstraZeneca gains a footing in the market for radiopharmaceutical medications, which has drawn interest from investors since Novartis’…
Authorities are still debating how to address the bank’s weaknesses a year after the Credit Suisse banking crisis brought the bank to its knees. This is especially true in Switzerland, where the firm’s acquisition by rival UBS formed a massive entity. The run at little-known U.S. regional institution Silicon Valley Bank in March 2023 put…
In the 1940s, McDonald’s was a physical establishment with employees working at counters, paper menus listing the burgers and fries, and cashier employees accepting payments from customers. It wouldn’t be too much of a stretch to refer to McDonald’s as a tech company that also happens to sell burgers given how pervasive technology is in…
In an effort to reduce the cost of electric vehicles overall, Chinese manufacturer Nio and battery giant CATL struck a partnership deal on Thursday to create longer-lasting batteries. William Li, the founder and CEO of Nio, told reporters in Beijing that the company will work together to use their respective technologies to reduce what is…
Due to growth at car dealerships and petrol stations, U.S. retail sales increased in February; nevertheless, as households struggle with inflation and rising borrowing costs, consumer spending is slowing down. This month, retail sales increased by 0.6%, the Census Bureau of the Commerce Department announced on Thursday. Sales for January were down 1.1% as opposed…
Three writers have sued Nvidia, a company whose processors enable artificial intelligence, claiming that the company utilised their copyrighted writings without their consent to train its NeMo robot and launch a new AI platform. The works of Brian Keene, Abdi Nazemian, and Stewart O’Nan were removed in October “due to reported copyright infringement.” The dataset,…
In order to better evaluate any supply chain risks, investors want Inditex, the company that owns Zara, to follow competitors H&M and Primark in disclosing the whole list of its suppliers. Among the major apparel retailers, Inditex stands out for not disclosing the manufacturers it sources from. Investors and regulators desire improved disclosure and increased…
Oracle announced that it would be releasing a new tab in conjunction with Nvidia and that it exceeded quarterly earnings projections. Riding high on the surge in demand for generative AI, Oracle’s shares surged by about 14% during extended trading. Oracle’s stock market worth increased by almost $40 billion as a result of the late-day…
A law that would require TikTok’s parent business, located in China, to sell the app within six months of its approval or face a ban, was approved by a US congressional panel. Citing national security concerns, the White House supports a House of Representatives committee that introduced the proposal. According to TikTok, small companies that…
Analysts indicated that although China’s 5% economic growth objective for 2024 is ambitious, it is doable provided more stimulus measures in monetary, fiscal, and regulatory policy are supported. “More stimulus plans will have to be disclosed in order to meet the goals outlined,” Eastspring Investments’ chief asset manager, Bill Maldonado, stated at the Reuters Global…
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