Newron Pharmaceuticals SpA has held initial discussions with potential partners about licensing an experimental drug to treat schizophrenia, a mental health condition with no cure. “We see a good chance of a licensing deal in the second half of the year,” Chief Executive Officer Stefan Weber said in a telephone interview late on Tuesday.
Month: January 2017
Blackstone, Carlyle Said to Plan Luxembourg Bases Post Brexit
U.S. private equity funds Blackstone Group LP and Carlyle Group LP are pushing ahead with plans to establish so-called passporting rights in Luxembourg to retain the ability to do business in the European Union after the U.K.’s exit, according to people familiar with the matter. The move is seen as administrative, less about moving people and offices and more to preserve access to European investors after Brexit, the people said, asking not to be identified because the plans are private.
Generali Extends Gains as Intesa Sanpaolo Confirms Potential Bidding Interest
Generali shares rose to the highest in more than a year in early Wednesday trading after Italy’s Intesa Sanpaolo confirmed it may make a takeover bid for the insurance group. Generali shares rose to the highest level in more than a year in early Wednesday trading after Italy’s Intesa Sanpaolo confirmed it may make a takeover bid for the insurance group.
Letter: The airwaves need WUMD
We, the undersigned, have or have had a meaningful relationship with the University of Massachusetts-Dartmouth as employees, students or volunteers. And we are appalled by, protest and condemn the imminent sale of the University of Massachusetts’ beloved first-class radio station, WUMD.
With Senate okay, Nikki Haley makes history
Washington, Jan 25 – The US Senate has confirmed Nikki Haley to the cabinet-level position of ambassador to the UN, marking a major milestone in Indian American ascendancy in US politics. Haley, who has said she would work to reform the UN, was nominated to the position by President Donald Trump and won the support of an overwhelming Senate majority cutting across the political divide on Tuesday.
Trump FCC Chair Pick Puts Net Neutrality in Crosshairs
Ajit Pai, named the new chairman of the Federal Communications Commission by President Donald Trump yesterday, is likely to seek changes to the organization’s stance on Net Neutrality. Pai was one of two commissioners to vote against the FCC’s 3-2 approval of the Open Internet Order in early 2015.
What’s next for the Dakota Access, Keystone XL pipelines?
President Donald Trump’s executive actions on the Dakota Access and Keystone XL pipelines are aimed at turning the disputed projects into reality, but it’s not clear how quickly that might happen. Dakota Access is to carry North Dakota oil to Illinois.
Restaurants: The next front for the immigration debate?
In this Wednesday, Jan. 18, 2017 photo, Ben Hall, owner of the Russell Street Deli, poses with a sanctuary restaurant sign in Detroit. Dozens of restaurants are seeking “sanctuary” status, a designation owners hope will help protect employees in an … In this Wednesday, Jan. 18, 2017 photo, a sanctuary restaurant sign is shown on the door of the Russell Street Deli in Detroit.
Facebook CEO Zuckerberg reconsiders process to get land
The billionaire chief executive officer of Facebook on Tuesday said he is reconsidering the process by which he is trying to gain title to about a dozen small parcels of land on his sprawling estate in Hawaii. The move to get the land through a unique Hawaii law angered locals and prompted a state lawmaker to propose a bill that would force Mark Zuckerberg into mediation before buying real estate on Kauai.
Goldman’s Cohn Unlocks More Than $284 Million by Joining Trump
Gary Cohn’s jump from Goldman Sachs Group Inc. to Donald Trump’s administration is helping him unlock more than $284 million in pent up bonuses, stock holdings and other investments through the Wall Street bank. To help Cohn avoid conflicts of interest as Trump’s top economic adviser, the bank is letting its former president immediately collect about $65 million in cash and stock tied to its future performance.
Intesa Weighs Generali Deal That Would Reshape Italy Finance
Intesa Sanpaolo SpA said it’s considering a merger with Assicurazioni Generali SpA, a deal that would reshape Italy’s financial industry by combining its second-biggest bank and largest insurer. “Possible industrial combinations with Assicurazioni Generali are currently being examined by the bank’s management,” Intesa said in a statement late Tuesday.
Line Quarterly Profit, Sales Miss Projections as Growth Slows
Line Corp.’s fourth quarter profit and revenue fell short of analysts’ estimates, as Japan’s biggest instant messenger seeks to fuel growth by expanding abroad and into advertising. Operating profit was 1.6 billion yen in the three months ended Dec. 31, according to calculations based on full-year numbers released by Line on Wednesday.
Novartis Mulls Options Including Spinoff, IPO for Eye-Care Unit
Novartis AG proposed buying back $5 billion of shares and said it’s considering separating its embattled eye-care division after projecting that sales this year at Europe’s second-biggest drugmaker will likely be largely unchanged from 2016. Earnings, excluding some expenses, will probably remain flat or decline by a “low single digit” percent in 2017 as its top-selling medicine faces increasing competition from cheaper copycat drugs, the Basel, Switzerland-based company said Wednesday in a statement.
Santander Profit Rises to $1.7 Billion, Beating Estimates
Banco Santander SA said fourth-quarter profit rose to 1.6 billion euros on lower provisions for bad loans and higher income from fees and from its business in Brazil. Net income at Spain’s biggest bank compared with 25 million euros a year earlier when profit was hit by charges, including provisions for the wrongful sale in the U.K. of payment protection insurance.
European Stocks Called Higher After Solid Asia Session, U.S. Earnings
European stocks are called higher Wednesday as the U.S. corporate earnings season continues to impress and the U.S. dollar rebounded modestly in overnight Asia trading. European stocks are called higher Wednesday as the U.S. corporate earnings season continues to impress and the U.S. dollar rebounded modestly in overnight Asia trading.
Novartis Misses Q4 Earnings Estimate, Mulls Alcon Spin-Off
Novartis missed analysts expectations with its fourth quarter earnings but launched a $5 billion share buyback program and said it may sell its Alcon eye care unit. Novartis AG missed analysts expectations with its fourth quarter earnings but launched a $5 billion share buyback program and said it may sell its Alcon eye care unit.
Taiwan ATM hack: Three jailed over $2.6m theft
Three Eastern European men have been jailed in Taiwan over the theft of $2.6m from cash machines around the country. They are part of a network of criminals who used malware to hack into 41 First Commercial Bank machines in three different cities in July last year.
President Trump calls PM Modi; Leaders swap invitations
After he was sworn in as the President of the United States, Donald Trump spoke to Indian Prime Minister Narendra Modi on the phone for the first time last night. The phone call took place around 11.30 pm.
Takata shares rise by daily limit, up 18.2 percent
Shares in Japanese air bag manufacturer Takata Corp gained 18.2 percent on Wednesday, rising by a daily limit of 80 yen to 519 yen ($4.56), stemming four days of steep decline brought about by investor fear of a court-mediated bankruptcy.
Trump Pins Keystone, Dakota Pipeline Fate on Renegotiation
President Donald Trump took steps to advance construction of the Keystone XL and Dakota Access oil pipelines, while demanding a renegotiation to get a better deal for the U.S. government. Trump stopped short of green lighting construction on either pipeline but put a deadline on the government’s review of TransCanada Corp.’s proposed Keystone XL to transport Alberta oil sands crude to U.S. refineries.
Hyundai Motor Warns of Trade Protectionism as Strikes Cut Profit
Hyundai Motor Co. warned of increasing uncertainties with the spread of trade protectionism and intensifying competition, even as South Korea’s largest automaker reported a 33 percent decline in operating profit due to labor strife and fall in emerging markets demand.
Five Tips For More Productive Monotasking When You Work Alone
When you’re the only one making choices about your schedule, staying on track can be tough. Here’s what the experts suggest.
Windstream to eliminate 164 jobs in Little Rock
Windstream spokesman David Avery says the job cuts came from various areas, including engineering, finance and information technology. Avery tells the Arkansas Democrat-Gazette that Windstream has about 12,000 employees, including 1,450 in Little Rock.
Futures Foment Trump Trade’s Return; Asia Higher, Too
Investors are likely to push markets higher Wednesday, either on optimism for the new administration in Washington or strong earnings. Futures for U.S. markets hinted at a higher opening Wednesday and a sustained resurgence of the Trump trade after both the S&P 500 and Nasdaq closed at record highs Tuesday.
Trump has picked Ajit Pai to serve as the next chairman of the Federal Communications Commission.
Trump has picked Ajit Pai to serve as the next chairman of the Federal Communications Commission. Pai is currently the senior Republican commissioner at the FCC and does not require Senate approval.
Modi, Trump discuss South Asia security; will stand together to fight terror
Washington, Jan 25 – Prime Minister Narendra Modi and US President Donald Trump discussed the security situation in South and Central Asia during their phone conversation on Tuesday night and resolved that India and US will stand shoulder to shoulder to fight global terrorism, the White House said. Strengthening defence partnership was among topics that came up during their talks about furthering cooperation between the two nations, according to the White House.
Rebuking Obama, Trump boosts Keystone XL, Dakota pipelines
In this Jan. 16, 2015, file photo, Jim Tarnick of Fullerton, Neb., points to the route of the Keystone XL pipeline which is planned to run through his property. President Trump’s decision to restart the Keystone XL pipeline approval process was … disheartening but not surprising to Tarnick, who told the Associated Press on Tuesday, Jan. 24 that he and other landowners who oppose it will continue to fight, although he hopes he doesn’t have to do it for the rest of his life.
Banks Seen Saving $2 Billion in Thailand E-Payment Roll Out
Thailand is due to roll out a national digital-payment system that levies much smaller transaction fees than the nation’s banks. Yet lenders expect the network to help rather than hinder them financially.
Sen. Al Franken to ‘fight every step of the way’ against rolling back net neutrality
U.S. Sen. Al Franken, D-Minn., Tuesday put the administration on notice, saying he will “fight every step of the way” to preserve net neutrality, which requires internet service providers to enable access to all content and applications, regardless of source.
As Verizon Hears T-Mobile’s Footsteps, It Might Go Acquisition-Hunting Again
Yes, rivals might attract some low-end customers with their cheap plans, Big Red has said, but we’ll hold onto the most lucrative consumer and business accounts thanks to our superior network. And as we upsell those customers on new services, our wireless revenue will grow.
UK car industry slows investment, says SMMT trade body
Investment in the UK’s automotive industry fell in 2016 after several years of strong growth, according to the head of the industry’s trade body. Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders, was giving evidence to the Treasury Committee on Tuesday.
Will Starbucks Grow Even Faster in 2017?
The coffee giant revolutionized the coffeehouse industry in the U.S., and along the way, Starbucks has expanded its reach across the globe and has made its presence almost ubiquitous domestically. Yet as investors prepare for Starbucks’ fiscal first-quarter results on Thursday, some worry that the company might start to have difficulty sustaining its past growth rates indefinitely.
When will soggy California drop water restrictions?
California’s top water regulator has strongly suggested the state will keep drought conservation rules in place despite winter storms that have waterlogged many communities.
Polaris Industries Looks Ahead After a Tough Year
Let’s take a closer look at what drove Polaris’ business as it capped its latest fiscal year. Revenue included $108.7 million in sales from Polaris’ acquisition of Transamerican Auto Parts , which closed on Nov. 10. On an adjusted basis, which excludes purchase accounting adjustments and acquisition costs, net income was $76.1 million, or $1.18 per diluted share, roughly in line with expectations.
Legislature looking at ways to make groundwater safer
A year after hundreds of sites in the state were found contaminated with a suspected carcinogen, the safety of groundwater is under scrutiny in the Legislature. Rep. Mindi Messmer, a Democrat from Rye, has introduced several bills aimed at better protecting residents from toxic groundwater, including two that got their first hearing Tuesday.
First legal Cuban cargo in more than 50 years arrives in US
The Miami Herald reports that two containers of artisanal charcoal arrived Tuesday morning at Port Everglades in Fort Lauderdale aboard a Crowley Maritime ship called the K-Storm. The special charcoal is made from Cuban marabu by private, worker-owned cooperatives.
Eagle Materials, Inc. Builds Another Record Quarter
The company set new fiscal third-quarter records for revenue and net income, thanks to record performance across its cement, paper, concrete, and aggregates business. The company sees even better days ahead, as a rebound in the oil and gas industry as well as continued robust cement demand should drive future results even higher.
Cisco Swoops In With $3.7 Billion Bid For AppDynamics Just Before IPO
Cisco Systems Inc. announced an agreement Tuesday to acquire AppDynamics Inc. for $3.7 billion, just before the tech startup was set for an initial public offering that would have valued the company at potentially half that total. AppDynamics increased its price range in a filing Tuesday morning, which was expected to be one of the last steps before the software firm sold its first batch of public shares.
Backpage.com lawyers want executives’ pimping charges tossed
This undated file photo provided by the Sacramento County Sheriff’s office shows Carl Ferrer. Ferrer and two other operators of an international website, Backpage.com, that advertises escort services, appeared in Sacramento County Superior … FILE – This undated file photo provided by the Sacramento County Sheriff’s office shows James Larkin.
Walgreens-Rite Aid Clock Runs Down With No Extension Set
Walgreens Boots Alliance Inc. Chief Executive Officer Stefano Pessina says he still believes in his company’s purchase of Rite Aid Corp., but declined to say whether the companies will extend the deal just three days from their agreed deadline to complete the merger. The acquisition hasn’t yet received antitrust approval from the Federal Trade Commission, and Walgreens hasn’t made a key filing saying it’s answered all the agency’s questions.